Automotive Lead Acid Battery Market Analysis by Product type, by vehicle type & by distribution channel with regional outlook & forecast to 2024

Market Overview

Today’s lead acid batteries, found in majority of automobiles and require supplementary technological advances before they can be applied broadly to tomorrow’s electric vehicles. Still required are enhancements in safety and durability, along with cost declines. Even though new battery technologies have emerged, its dominance is likely to remain untouched over the forecast period due to its low cost and longer lifecycle. Automotive electrical equipment such as lights and air conditioners would not work without batteries. Batteries are vital to support the automotive electrical equipment such as lights and air conditioners of cars and motorcycles, without them most vehicles would not work. With the coming shift to electric vehicles and rising use of electronics in automobiles, the importance of lead acid batteries will only grow and will aid automotive lead acid battery market growth.

Goldstein Research analyst forecast global automotive lead acid battery market is likely to grow exponentially with the emergence of electric vehicles in coming years and growing number of electric equipment in automobiles. Moreover, the market is anticipated to reach USD 33.5 billion at a CAGR of 4.5% over the forecast period i.e. 2016-2024.

Automotive Lead Acid Battery Market Segmentation

By Product Type

• Flooded Batteries
• Enhanced Flooded Batteries
• VRLA Batteries

 By Vehicle Type

• Passenger Cars
• LCVs/HCVs
• Two Wheelers
• Three Wheelers

 By Distribution Channel

• OEMs (Original Equipment Manufacturers)
• Aftermarket

By Geography

• North America (US, Canada) {Market Share (%), Market Size (USD Billion)}
• Europe (UK, France, Italy, Germany, Spain, Hungary, Sweden, Russia, Poland and Rest of Europe) {Market Share (%), Market Size (USD Billion)}
• Middle East and Africa (GCC Countries, North Africa, South Africa and Rest of Middle East & Africa) {Market Share (%), Market Size (USD Billion)}
• Latin America (Brazil, Mexico and Rest of Latin America) {Market Share (%), Market Size (USD Billion)}
• Asia Pacific (China, Japan, India, Singapore, South Korea, Australia, New Zealand and Rest of Asia-Pacific) {Market Share (%), Market Size (USD Billion)}

Market Share & Forecast to 2024

Based on vehicle type, passenger cars accounted for the largest market share of more than 42% in 2016. Moreover, passenger cars are expected to be the fastest growing and most opportunistic segment over the forecast period owing to emerging market of electric vehicles.

Geographically, Asia Pacific region accounted for the largest market share of about 35% in terms of revenue owing to huge automotive and electric vehicle industry in the region. Africa and South East Asian Countries Showcase the huge potential as the automobile industry in these regions is gradually increasing.

Trending in Lead-acid Battery Market

According to our global automotive lead acid battery market study on the basis of extensive primary and secondary research, one major trend is the rapid adoption of fuel-efficient technologies for environment friendly vehicles, such as start and stop cars and hybrid vehicles. The market players are working to develop high-performance, high-quality batteries for these vehicles and to release them into the market, which is significantly driving the growth of lead acid battery market growth.

Drivers & Challenegs to Market Growth

According to the report, major driver in global automotive lead acid battery market is steadily growing automotive industry, demand for start and stop vehicles and fuel-efficient cars is expected to rise sharply at the back of adoption of stringent exhaust gas emission regulations. In response, the manufacturing of high-performance lead-acid batteries for eco-friendly vehicles will grow considerably.

Further, the report states the challenges in global automotive lead acid battery market is environmental impact from their construction, use, disposal or recycling. Moreover, deep-cycle lead acid batteries are costly and have a shorter life than the vehicle itself and typically demands replacement every 3 years.   

Covered in this Automotive Lead Acid Battery Market Report

The report covers the present ground scenario and the future growth prospects of the global automotive lead acid battery market for 2016-2024 along with the total revenue of automotive battery industry in every region. We calculated the market size and revenue share on the basis of revenue generated per segment and region. The revenue forecast is given on the basis of number of market players and current growth rate of the market.

Global Automotive Lead Acid Battery Market Outlook 2016-2024, has been prepared based on an in-depth market analysis from industry experts. The report covers the competitive landscape and current position of major players in the global automotive lead acid battery market. The report also includes porter’s five force model, SWOT analysis, company profiling, business strategies of market players and their business models. Global automotive lead acid battery market report also recognizes value chain analysis to understand the cost differentiation to provide competitive advantage to the existing and new entry players.

Lead-Acid Battery Companies (Key Market Players)

Our global automotive lead acid battery market report comprises of the following companies as the key players in the global automotive lead acid battery market.

•  Exide Technologies
•  Johnson Controls International plc.
•  Panasonic
•  Robert Bosch
•  Haldex Incorporated
•  ZF TRW Automotive Holdings Corporation
•  Hitachi Ltd.
•  EnerSys
•  Furukawa Electric Co. Ltd.
•  Leoch International Tech
•  GS Yuasa Corporation
•  Crown Battery Manufacturing Company

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.

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Key questions answered in this research report

• What is the total market size by 2024 and what would be the expected growth rate of market?
• What is the total market size per segment and region in 2015-16 and what would be the expected market size per segment and region over the forecast period?
• What are the key market trends?
• What are the factors which are driving this market?
• What are the major barriers to market growth?
• Who are the key vendors in this market space?
• What are the market opportunities for the existing and entry level players?
• What are the recent developments and business strategy of the key players?

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