Automotive Battery Market Analysis in Developed Countries By Battery Type, Vehicle Type, Engine Type, Functions, Sales Chanel, Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa) – Industry Trends and Forecast to 2026
Automotive Battery Market is expected to rise from its initial estimated value of USD 55.87 billion in 2018 to an estimated value of USD 103.18 billion by 2026, registering a CAGR of 7.97% in the forecast period of 2019-2026. Increasing electric vehicle is the major factor for the growth of this market.
Automotive batteries are batteries which supplies electric current to motor vehicle which are usually rechargeable in nature. Lithium- ion, Lead- Acid, Nickel, Sodium- ion are some of the automotive batteries types. They are usually is a 12-volt battery of six cells and is the heart of the car's electrical system. Its main aim is to start the engine and then the power for electrical system is supplied by alternator.
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Market Drivers:
· The new fuel-saving technologies, like micro-hybrid systems are leading to higher battery usage.
· Increasing environmental concern is driving the market.
Market Restraints:
· Lack of adequate infrastructure required for proper operation of battery-driven vehicles is restraining the growth of this market.
· High cost of the batteries is another factor restraining the growth of this market.
Key Developments in the Market:
· In April 2018, Exide Industries announced the launch of their new completely sealed and maintenance free batteries for automotive- after market- Advanz. This battery equipped with a magic eye that can accurately indicate the health of the battery and determine its end of life. It has Ca- Ca system which ensures that topping up is necessary during the entire service life of the battery.
· In October 2018, Amara Raja announced the launch of their new set up car battery plant. The capacity will reach 10.8 million units making it one of the largest facilities of its kind in India. The company signed a technology collaboration agreement with long-time partner Johnson Controls to introduce advanced battery technologies to India enabling higher performance across Starting, Lighting and Ignition (SLI), Enhanced Flooded Batteries (EFB) and Absorbent Glass Mat (AGM) batteries.
Competitive Analysis: Automotive Battery Market
Global automotive battery market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of automotive battery market for global, Europe, North America, Asia Pacific, South America and Middle East & Africa.
Key Market Competitors: Automotive Battery Market
Few of the major competitors currently working in the automotive battery market are Johnson Controls, GS Yuasa International Ltd., Exide Technologies., East Penn Manufacturing Company, Camel Group Co, Fengfan Co.,Ltd., FIAMM, ENERSYS., Robert Bosch GmbH, MK Battery., Amara Raja Group, Hitachi, Ltd., SANYO Electric Co.,Ltd, Okaya Power Pvt. Ltd., Luminous India, Huawei Technologies Co., Ltd., Chaowel Power Holdings Limited.
Table of Contents
· Chapter 1. Methodology and Scope
1.1. Research Methodology
1.2. Research Scope & Assumptions
Chapter 2. Executive Summary
2.1. Automotive Battery - Industry Snapshot & Key Buying Criteria, 2014 - 2025
Chapter 3. Industry Outlook
3.1. Market Segmentation & Scope
3.2. Automotive Battery Market Size & Growth Prospects
3.3. Automotive Battery Strategy Analysis
Chapter 4. Automotive Battery Market: Battery Type Estimates & Trend Analysis
4.1. Automotive Battery Market: Battery Type Analysis
Chapter 5. Automotive Battery Market: Vehicle Estimates & Trend Analysis
5.1. Automotive Battery Market: Vehicle Type Analysis
Chapter 6. Automotive Battery Market: Regional Estimates & Trend Analysis
6.1. Automotive Battery Market: Region Analysis
Chapter 7. Competitive Landscape
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Reasons for Buying this Report
This report provides pin-point analysis for changing competitive dynamics
It provides a forward looking perspective on different factors driving or restraining market growth
It provides a six-year forecast assessed on the basis of how the market is predicted to grow
It helps in understanding the key product segments and their future
It provides pin point analysis of changing competition dynamics and keeps you ahead of competitors
It helps in making informed business decisions by having complete insights of market and by making in-depth analysis of market segments
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