Global Automotive Lead Acid Battery Market, Trends & Analysis – Forecasts To 2026
Global Automotive Lead Acid Battery Market: Insights The global automotive lead acid battery market is estimated to witness a significant CAGR during the forecast period (2019-2026). The lead acid battery is primarily used in cars and trucks to supply high surge currents. The growth of the automotive lead acid battery market is anticipated to increase with the growing automobile industry, along with other factors, such as development in the commercial vehicle and passenger cars among others. The market is also expected to grow owing to easy recyclability and relatively long lasting storage capacity of lead acid batteries as compared to other battery type. Bulkiness, high lead content which harms the environment, emergence of alternatives and strict government laws and regulations are some of the factors expected to hamper the growth of automotive lead acid battery market. Request a free sample copy of the report @https://www.globalmarketestimates.com/global-automotive-lead-acid-battery-market/ By Sales Channel On the basis of sales channel, the global market is segmented into Original Equipment Manufacturer (OEM) and Aftermarkets. The Original Equipment Manufacturer (OEM) segment is expected to grow during the forecast period, owing to large number of automobile industries present across the globe. Some of the major automobile manufacturers are General Motors, Fiat, Honda and Ford among others. The automotive aftermarket is considered as the secondary market of the automotive industry, which is generally concerned with the remanufacturing, manufacturing, distribution, retailing, and installation of all vehicle parts, equipment, accessories and chemicals after the sale of the automobile by the original equipment manufacturer (OEM) to the consumer. The aftermarket encloses different parts for replacement, collision, appearance, and performance. The aftermarket provides a wide variety of parts of varying prices and quality for nearly all vehicle makes and models. By Battery Type On the basis of battery type, the global market is classified into flooded battery, enhanced flooded battery (EFB), and absorbent glass mat (AGM) battery. The absorbent glass mat (AGM) battery segment is expected to hold the largest market share in the battery type segment. The growth of the segment can be attributed to multiple factors, one of them being no acid leaks. Low internal resistance, greater electrical reliability is one of the major factors expected to propel the growth of the market. AGM batteries are finding support with start-stop feature of various electric vehicles on account of their high cyclability and longer shelf-life. They are majorly used in mid-size vehicles and SUVs as they are lightweight. Although the cost of AGM batteries is comparatively higher, they offer longer life span than their flooded counterpart batteries. By Vehicle Type On the basis of vehicle type, the global market is classified into passenger vehicles, ICE, hybrid vehicles, electric vehicles, and light commercial vehicles. The passenger vehicles segment is expected to hold the largest market share in the vehicle type owing to high purchasing power of the people. Declining interest rates and low energy prices are also some of the major factors for the growth of passenger car market. The demand for electric vehicle is also expected to boost the global automotive lead acid battery market during the forecast period. In 2018, the global electric car fleet exceeded 5.1 million, up 2 million from the previous year and almost doubling the number of new electric car sales. By Region Asia-Pacific is expected to hold the largest market share. High production and sale of vehicles in the region especially in countries like China, India, and South Korea are expected to be the prime factors contributing to the growth of automotive lead acid battery industry. Moreover, technological advancement in automotive lead acid batteries such as carbon emission reduction, effective wireless charging technology for electric powered vehicles is anticipated to strengthen the growth of global automotive lead acid battery market. Europe is expected to witness considerable growth in the automotive lead acid battery market. Presence of leading vehicle manufacturers such as Renault, Volkswagen, and Daimler is one of the major factors boosting the market growth. The automotive industry of Europe has rapid development due to the favorable government policies in the manufacturing sector. In the year 2018, 17.6 million vehicles were registered in the European Union. End Use Landscape The end-user landscape entails a list of current and prospective consumers prevailing across the regions. This section briefs you about company addresses, contact details, products, and regional presence of companies who are purchasing or are likely to purchase automotive lead acid battery. The key end-users of the markets are BMW, Honda, General Motors, and Ford among others. Vendor Landscape The report contains a chapter dedicated to vendors operating in the market, covering raw material manufactures, equipment developers, manufacturers, and distributors. The report provides these insights on a regional level. This section of the report entails contact details, experience, products manufactured/supplied, and geographical presence of companies. Automotive Lead Acid Battery Market Share & Competitor Analysis Some of the key players operating in the automotive lead acid battery market are Johnson Controls International Plc, Haldex Incorporated, Lg Chem, Zf Friedrichshafen Ag, Samsung Sdi Co.,Ltd, Hitachi, Ltd, Enersys, Panasonic Corporation, Furukawa Electric Co. Ltd, Leoch International Tech, Gs Yuasa Corporation, Crown Battery Manufacturing Company, Exide Industries Limited, Robert Bosch Gmbh, and Trojan Battery Company among others. In April 2019, Enersys introduced two new products NexSys iON and NexSys PURE batteries. The advanced Lithium-ion (Li-ion) and Thin Plate Pure Lead (TPPL) solutions are engineered to deliver simply superior power for a wide range of material handling applications In October 2018, Trojan Battery Company launched Trillium Line of intelligent Lithium Ion batteries for deep-cycle applications with life expectancy over 5,000 cycles Browse the report @https://www.globalmarketestimates.com/global-automotive-lead-acid-battery-market/
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