Automotive Battery Market Sales Growth Rate | Revenue Drivers & Global Trend | Scope Analysis

Felton, Calif., USA, Jan. 07, 2021 — /EPR Network/ —

The global Automotive Battery Market research report provides complete insights on industry scope, trends, regional estimates, key application, competitive landscape and financial performance of prominent players. It also offers ready data-driven answers to several industry-level questions. This study enables numerous opportunities for the market players to invest in research and development.

Market Overview:

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.

Key Players:

• A123 Systems, LLC
• BYD Co., Ltd.
• East Penn Manufacturing Company
• Enersys
• Exide Technologies
• GS Yuasa Corporation
• Hitachi
• Johnson Controls
• LG Chem
• NEC Corporation

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Growth Drivers:

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.

Vehicle Type Outlook:

• Passenger vehicles
• Commercial vehicles
• Electric vehicles
  • BEV
  • PHEV

Application Outlook:

• Lithium-ion based
• Lead-acid based
  • Construction type
    • VRLA battery
    • Flooded
  • Product
    • SLI
    • Stationary
    • Motive
  • Nickel-based
  • Sodium-ion

Regional Outlook:

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.

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