Global Automotive Battery Market report delivers future development strategies, key companies, Possibility of competition, major challenges analysis. The reports elaborate the expansion rate of the Automotive Battery market supported the highest company profile analysis. This report providing an in-depth analysis, market size, and evaluation for the developing segment among the industry. Automotive Battery Market report will help you take expert decisions, recognize opportunities, plan effective professional tactics, plan new schemes, analyse drivers and restraints and give you a vision on the Automotive Battery Market forecast.
The Automotive Battery Market report discusses the primary industry
growth drivers and challenges that the vendors and the market as a whole face
and provides an overview of the key trends emerging in the market. It also
talks about the market size of different segments and their growth aspects
along with key leading countries in Americas, Asia-Pacific, Europe, the Middle
East, and Africa regions.
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Global Automotive Battery Market is expected to reach USD
95.57 billion by 2025 as the scope and its applications are rising enormously
across the globe. Automotive Battery is a termed as a rechargeable battery that
supplies electrical current to a motor vehicle to start an engine. Alternator
supply power for the cars electrical system. The automotive battery industry is
expected to grow at a CAGR of 7.9% in the forecast period.
Rising number of the electric cars on the road, high
investment in research and development sector, and rising government initiative
to reduce carbon emission are documented as major factors of Automotive Battery
Market that are estimated to enhance the growth in the years to come. Also,
vast growth in automotive sector, rising consumer preference for pollution free
cars, and high demand from developing countries are another factors estimated
to grow in coming years. Automotive Battery Market is segmented based on
vehicle type, battery type, and region.
Commercial vehicles, passenger vehicles, two wheelers,
electric vehicles, and others are the vehicle types that could be explored in
Automotive Battery in the future period. Commercial vehicles may be heavy
commercial vehicles and light commercial vehicles. Passenger vehicle sector
accounted for the largest market share of Automotive Battery and is estimated
to lead the overall market in the coming years. Electric vehicles include
plug-in hybrid electric vehicle (PHEV) and battery electric vehicle (BEV). In
2016, China sold more than 40% of the total electric cars. However, the electric
vehicle sector is estimated to grow at fastest pace in the coming years.
There are various types of batteries like nickel cadmium,
lead acid battery, lithium ion, and others could be explored in Automotive
Battery in the foremost period. Lead acid battery may be sealed and flooded.
Lead-acid battery sector accounted for the largest market share and is
estimated to lead the overall market in the coming years. These are efficient
of high discharge rate, effortless in manufacturing, higher starting capability,
and nominal maintenance. Lithium-ion (Li-ion) batteries are commonly used
rechargeable batteries with double the energy density of Nickel-Cadmium
batteries and superior constancy and security. Lithium (Li) is the lightest of
all metals, has the maximum electrochemical potential, and offers the high
energy density for weight.
Globally, Asia Pacific accounted for the largest market
share and is estimated to lead the market in the coming years. Also, estimated
to grow at highest CAGR of 9.2% in the years to come. This may be because of
high demand in developing countries, high sale if motorcycles, commercial cars,
and passenger cars, and production of enhanced and cost-efficient vehicles. The
developing countries like India and China are the major consumers of Automotive
Battery in this region.
However, in 2016, North America led the market. This may
because or presence of key manufacturers in the region and rising demand for
electric vehicles in Mexico and the United States. The United States is a major
consumer of Automotive Battery in the region, a government initiative to reduce
carbon emission by manufacturing eco-friendly products. Instead, Europe is also
estimated to have a positive influence on the future growth.
The key players of Automotive Battery Market are GS Yuasa
Corporation, A123 Systems, Exide Technologies, BYD Co. Ltd., EnerSys, and East
Penn Manufacturing Company. These players are concentrating on inorganic growth
to sustain themselves amongst fierce competition. As such, mergers, acquisitions,
and joint ventures are the need of the hour.
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