Lead acid batteries are the devices used for storage of electricity that be used during an emergency or wherever power supply connection is not available. Governments have started offering subsidies to manufacture low cost electric vehicles, which do not pollute the environment. Growing demand for automotive lead acid batteries in electric vehicles, hybrid vehicles, light motor vehicles, and heavy motor vehicles is expected to be a key driver of the market over the next seven years.
The Global Automotive Lead Acid Batteries Market accounted for USD 35.70 billion in 2016 and is projected to grow at a CAGR of 4.5% during the forecast period of 2017 to 2024. The upcoming market report contains data for historic years 2014, 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.
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Global Automotive Lead Acid Batteries Market, By Product Type (SLI, Stationary, Motive), By Type (Flooded Batteries, Enhanced Flooded Batteries, VRLA Batteries), By Application (Electric Vehicles, Hybrid Vehicles, Light Motor Vehicles, Heavy Motor Vehicles) – Industry Trends and Forecast to 2024
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• What will the market size be in 2024?
• What are the key factors driving the global market?
• What are the challenges to market growth?
• Who are the key players in the market?
• What are the market opportunities and threats faced by the key players?
• What will be the growth rate in 2024?
• Which strategies are used by top players in Global Automotive Lead Acid Batteries Market?
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On the basis of product type:
On the basis of type:
- Flooded Batteries
- Enhanced Flooded Batteries
- VRLA Batteries
On the basis of application:
- Electric Vehicles
- Hybrid Vehicles
- Light Motor Vehicles
- Heavy Motor Vehicles
On the basis of geography:
- North America
- South America
- Middle East & Africa
Market Drivers and Restraints:
- Growing demand for electric and hybrid electric vehicles
- Advancements in manufacturing processes of lead acid batteries
- Government subsidiaries and stringent regulations regarding pollution emission
- High lead content can harm the environment
Top Key Competitors:
- Johnson Controls Inc.
- Exide Technologies Inc.
- GS Yuasa Corporation
- Middle East Battery Company
- Reem Batteries & Power Appliances Co. Saoc
- Enersys Inc.
- Saft Groupe S.A.
- Northstar Battery Company LLC.
- C&D Technologies, Inc.
- Robert Bosch GmbH
- East Penn Manufacturing Company
- Panasonic Corporation
- Trojan Battery Company
- Samsung Sdi Company Limited
- Leoch International Technology Ltd
- Exide Industries Ltd.
- Koyo Battery Co., Ltd.
- Tai Mao Battery Co., Ltd.
- PT Century Batteries Indonesia
- Thai Bellco Battery Co.,Ltd.
- Thai Bellco Battery Co., Ltd.
- CSB Battery Co., Ltd. (Hitachi Chemical Energy Technology Co. Ltd.)
- Many more.
The global automotive lead acid batteries market is fragmented with the presence of a large number of players across different regions. These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
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