Manufacturers Consider the Particular Necessities of Automakers Although Sticking to Astounding Norms of Manufacturing in the Global Automotive Lead Acid Battery Market

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The development of the worldwide automotive lead-acid battery market is impacted by various aspects including expanding vehicle manufacturing coming about because of a promising vehicle sales viewpoint in emerging economies, expanding the generation of electric and hybrid vehicles, increasing vehicle electrification, R&D joint efforts, and steady automobile generation. Replacement costs and low maintenance and increasing implemenation of advanced automotive technologies, for example, start-stop further add to the market development. Foremost trends foreseen in the worldwide market incorporate progressions in lead acid battery innovation, decrease in battery size, along with long haul supply contracts amid automotive OEMs and battery suppliers.

The general market approach embraced by makers of automotive lead-acid batteries incorporates reinforcing of the production network especially in regions, for example, Latin America and the Asia Pacific. Producers are additionally centered around growing high-quality automotive lead-acid batteries holding fast to guidelines and OEM explicit prerequisites. Providers take into account the particular necessities of automakers while sticking to astounding norms of manufacturing. Various battery providers have long haul providers’ agreements with OEMs for giving batteries according to the particular prerequisites.

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Asia Pacific’s robust automotive sector will continue to create sustained demand for lead acid batteries. Globally, the automotive lead acid battery market is expected to increase at 4.2% CAGR during 2016 – 2026 and surpass US$ 33.14 Bn in revenues. These insights are featured in a new report “Automotive Lead Acid Battery Market: Global Industry Analysis and Opportunity Assessment, 2016 – 2026” by Future Market Insights (FMI).

Lead acid batteries are widely used for starting, lighting, and ignition purposes in automobiles. Stable growth in automotive production, promising vehicle sales outlook in developing economies, and expanding size of fleet on road are expected to fuel demand for lead acid batteries during the forecast period. Technological advancements in powertrains and carbon emission reduction; and growth in wireless charging infrastructure are other key factors expected to drive growth of the automotive lead acid battery market during the forecast period.

Automotive Lead Acid Battery Market Segmentation

FMI’s report offers a 10-year market forecast on the lead acid battery market, segmenting the market on the basis of sales channel, vehicle type, battery type, and region. Region-wise, the report has analysed the automotive lead acid battery market in the five regions of Asia Pacific, North America, Latin America, Europe, and Middle East & Africa (MEA). Asia Pacific is the largest market for automotive lead acid batteries, accounting for nearly 33% revenue share in 2015. FMI expects the Asia Pacific automotive lead acid battery market to increase at the highest CAGR during the forecast period. Demand for lead acid batteries in the region is driven by steady growth in vehicle parc in China, India, Japan, South Korea, and Thailand.

Key insights

Market projections based on segmentation

Segmentation by Market forecast
  Sales Channel

  • OEM
  • Aftermarket

 

  • The aftermarket segment accounted for higher revenue share in 2015; FMI estimates the aftermarket segment to witness higher CAGR than the OEM segment
  Vehicle Type

  • Passenger vehicles
  • Light commercial vehicles
  • FMI estimates the passenger vehicle segment to increase at 4.4% CAGR through 2026
  Battery Type

  • Flooded
  • Enhanced flooded
  • AGM
  • Currently, flooded batteries are sought after by both OEMs and vehicle owners. However, during the forecast period, enhanced flooded and AGM batteries will steadily gain traction owing to their advanced features

 

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The key players profiled by FMI in this report include Enersys Inc., Johnson Control Inc., GS Yuasa Corporation, Panasonic Corporation, Leoch International Technology Ltd., Exide Technologies, East Penn Manufacturing Company, CBS Battery Technologies, Exide Industries, and FIAMM SpA.

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