Escalating Sales in the Automotive Sector Is Surging the Global Automotive Lead Acid Battery Market to Expand at 4.40% of CAGR by 2026
“According to the new market research report published by Inkwood Research, the Global automotive lead acid battery market is expected to develop from $ 35428 million in 2017 to $ 51792 million by 2026. The market is propagating at a CAGR of 4.40% during the forecasting years.”
“Browse 23 market Data Tables and 38 Figures spread over 147 Pages, along with an in-depth TOC on global automotive lead acid battery market forecast 2018-2026.”
Automotive lead acid battery market refers to the utilization of lead acid batteries particularly in the automotive sector. The lead acid battery are wet rechargeable batteries, consisting of lead and acid as an electrolyte to accumulate electrical energy. These batteries comprise high power to its weight ratio, offering the capacity to supply excessive flow of current. As these batteries are refuelling in nature, they have application in automobile sectors where high current is needed to start the engine. The automotive lead acid batteries provide power to the starter system and ignition in an automobile engine and power up the electrical circuits in the vehicle.
The global automotive lead acid battery market is evolving due to various reasons such as a rise in automotive sales, rising requirement for battery-powered vehicles, right balance of cost and effectiveness, growing popularity of start/stop systems in the automotive sector, and recycling of the battery gives it an advantage over other competing products. On the contrary, excessive levels of sulfuric acid and lead along with strict norms and regulation of government are majorly declining the demand for automotive lead acid battery market across the globe.
SLI batteries: the most prominent product in the global automotive lead acid batteries market
SLI battery captured the majority share in the global automotive lead acid battery product market. SLI is a rechargeable lead acid battery largely used in automobiles. SLI refers to starting, lighting, and ignition and all the three processes require energy that is supplied by the battery of the vehicle. These batteries are majorly produced for automobiles and is mounted with the charging system of the vehicle. The most significant specification of SLI battery is Nominal capacity. The growing production of passenger cars, commercial vehicles, coaches and minibuses, buses, trucks across the globe is further proliferating the demand of the SLI (Starting Lightning and Ignition) batteries market.
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Aftermarket batteries is leading the consumer segment in the automotive lead acid battery market
In 2017, Aftermarket batteries were dominating and also the fastest growing segment in the global automotive lead acid battery market by consumer segment. The secondary market of the automotive industry is chiefly distributed into manufacturing, distribution, installation, retailing, and remanufacturing of various parts of the vehicle battery, accessories etc. prior its sale. It also consists of varied parts of automotive lead acid battery bifurcating in price and quality for various categories of automotive vehicle. Growing activities of battery recycling along with Government backing for the same is contributing to the growth of the global automotive lead acid battery aftermarket market during the forecast period.
The Asia Pacific is the global leader in the automotive lead acid battery market
The Asia Pacific Automotive lead acid battery market is expanding at a significant pace. The region holds the colossal share in the global scenario. The market in this region is growing due to the dominating demand for the electric vehicle from China, and the leadership of China in the automotive sector. The growth of the China automotive lead acid battery is attributed to the production of both as commercial and passengers vehicles. The market is also showing an upsurging trend in India, owing to the increased sales of Two-wheeler vehicles in the country. Moreover, the existence of established automotive groups such as Toyota and Honda in Japan are fuelling the market demand significantly.
The global automotive lead acid battery market is highly dynamic with many vendors offering a varied range of lead acid batteries at competitive pricing and service. Moreover, the companies are adopting strategies such as partnership, acquisition, and collaboration to maintain its position in the market. Some of the top companies contributing the highest in the market are East Penn Manufacturing, Johnson Controls Ltd., Ener Sys Ltd., GS Yusua, and Exide Technologies.
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Inkwood Research specializes in syndicated & customized research reports and consulting services. Market intelligence studies with relevant fact-based research are customized across industry verticals such as technology, automotive, chemicals, materials, healthcare, and energy; with an objective comprehension that acknowledges the business environments. Our geographical analysis comprises of North & South America, CEE, CIS, Middle East, Europe, Asia, and Africa.