Overview
and Scope
The automotive lead-acid batteries refer to a rechargeable battery that
supplies electric energy to an automobile. These lead-acid batteries have a
high current and surge capability, making them ideal for starting internal
combustion engines. It boosts vehicle performance by delivering increased
longevity, dependability, efficiency, and tolerance. Due to their increased
cell voltage levels and low cost of production, these batteries are commonly
used in substations and power systems.
Sizing and Forecast
The automotive lead acid batteries market size has grown steadily in recent
years. It will grow from $35.69 billion in 2023 to $37.47 billion in 2024 at a
compound annual growth rate (CAGR) of 5.0%.
The growth in the historic period
can be attributed to automotive industry growth, conventional vehicle
dominance, reliability and durability, aftermarket demand, cold cranking
performance, support for start-stop systems..
The automotive lead acid batteries market size is expected to see strong growth
in the next few years. It will grow to $45.73 billion in 2028 at a compound
annual growth rate (CAGR) of 5.1%. The
growth in the forecast period can be attributed to transition to mild hybrid
systems, continued dominance in conventional vehicles, market penetration in
developing regions, support for commercial vehicles, hybridization trends,
government support for recycling.. Major trends in the forecast period include
increased focus on start-stop technology, advancements in battery technologies,
rise of micro-hybrid vehicles, integration of smart battery technologies,
evolving consumer preferences and technologies..
To access more details regarding this report, visit the link:
https://www.thebusinessresearchcompany.com/report/automotive-lead-acid-batteries-global-market-report
Segmentation & Regional Insights
The automotive lead acid batteries market covered in this report is segmented –
1) By Type: Flooded Batteries, Enhanced Flooded Batteries, VRLA Batteries
2) By Product: SLI Batteries, Micro Hybrid Batteries
3) By Sales Channel: Automotive Lead Acid Battery Sales via OEMs, Automotive
Lead Acid Battery Sales via Aftermarket
4) By End User: Passenger Car, Light Commercial Vehicles, Heavy Commercial
Vehicles, Two-Wheeler, Three-Wheeler
Asia-Pacific was the largest region in the automotive lead acid batteries
market in 2023. Asia-Pacific is expected to be the fastest-growing region in
the forecast period. The regions covered in the automotive lead acid batteries
market report are Asia-Pacific, Western Europe, Eastern Europe, North America,
South America, Middle East, Africa.
Intrigued to explore the contents? Secure your hands-on sample copy of the
report:
https://www.thebusinessresearchcompany.com/sample.aspx?id=8105&type=smp
Major Driver Impacting Market Growth
The rise in demand for electric vehicles is expected to propel the growth of
the automotive lead-acid batteries market going forward. Climate warming and
aspirations to achieve net-zero emissions are driving the global shift to
emissions-free motoring. The development of EV charging stations, hydrogen
fueling stations, and government intervention towards the adoption and
implementation encourages the use of electric vehicles. These factors increases
the demand for automobile lead-acid batteries, offering high power,
inexpensive, safe, and reliable drive. For instance, in April 2023, according
to the International Energy Agency (IEA), a France-based intergovernmental
organization, electric car sales accounted for 14% of all new cars sold
globally in 2022, a considerable rise from 9% in 2021. This trend is expected
to continue in 2023, with over 2.3 million electric cars sold in the first
quarter alone, representing a 25% increase from the same period last year.
Furthermore, it is projected that 14 million electric cars will be sold by the
end of 2023, marking a 35% year-on-year increase, with new purchases
accelerating in the second half of the year.
Therefore, the rising demand for electric vehicles will drive the
automotive lead-acid batteries market.
Key Industry Players
Major companies operating in the automotive lead acid batteries market report
are GS Yuasa International Limited, Johnson Controls Inc., Exide Industries
Limited, EnerSys Inc., Panasonic Corporation, CSB Battery Company Limited, East
Penn Manufacturing Company, Leoch International Technology Limited, NorthStar
Battery Company LLC, Clarios LLC, Koyo Battery Company Limited, FIAMM Energy
Technology S.P.A, Reem Batteries & Power Appliances Co. SAOC, Trojan
Battery Company LLC, C&D Technologies Inc., Robert Bosch GmbH, Thai Bellco
Battery Co.Ltd., Crown Battery Manufacturing Company, Narada Power Source Co.
Ltd., Shandong Sacred Sun Power Sources Co.Ltd., Amara Raja Batteries Limited,
Banner Batterien GmbH, Camel Group Co.Ltd., Fengfan Co.Ltd., Guangdong Dynavolt
Power Technology Co. Ltd., Haze Battery Co. Ltd., Hitachi Chemical Energy
Technology Co. Ltd., Zibo Torch Energy Co.Ltd., Coslight Technology
International Group Co.Ltd., PT Astra International Tbk
The automotive lead acid batteries market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
.
.
.
27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model:
https://www.thebusinessresearchcompany.com/global-market-model
No comments:
Post a Comment