The automotive lead acid batteries global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Automotive Lead Acid Batteries Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The automotive lead acid batteries market size has grown steadily in recent years. It will grow from $35.69 billion in 2023 to $37.47 billion in 2024 at a compound annual growth rate (CAGR) of 5.0%. The growth in the historic period can be attributed to automotive industry growth, conventional vehicle dominance, reliability and durability, aftermarket demand, cold cranking performance, support for start-stop systems.
The automotive lead acid batteries market size is expected to see strong growth in the next few years. It will grow to $45.73 billion in 2028 at a compound annual growth rate (CAGR) of 5.1%. The growth in the forecast period can be attributed to transition to mild hybrid systems, continued dominance in conventional vehicles, market penetration in developing regions, support for commercial vehicles, hybridization trends, government support for recycling. Major trends in the forecast period include increased focus on start-stop technology, advancements in battery technologies, rise of micro-hybrid vehicles, integration of smart battery technologies, evolving consumer preferences and technologies.
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Scope Of Automotive Lead Acid Batteries Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Automotive Lead Acid Batteries Market Overview
Market Drivers –
The rise in demand for electric vehicles is expected to propel the growth of the automotive lead-acid batteries market going forward. Climate warming and aspirations to achieve net-zero emissions are driving the global shift to emissions-free motoring. The development of EV charging stations, hydrogen fueling stations, and government intervention towards the adoption and implementation encourages the use of electric vehicles. These factors increases the demand for automobile lead-acid batteries, offering high power, inexpensive, safe, and reliable drive. For instance, in April 2023, according to the International Energy Agency (IEA), a France-based intergovernmental organization, electric car sales accounted for 14% of all new cars sold globally in 2022, a considerable rise from 9% in 2021. This trend is expected to continue in 2023, with over 2.3 million electric cars sold in the first quarter alone, representing a 25% increase from the same period last year. Furthermore, it is projected that 14 million electric cars will be sold by the end of 2023, marking a 35% year-on-year increase, with new purchases accelerating in the second half of the year. Therefore, the rising demand for electric vehicles will drive the automotive lead-acid batteries market.
Market Trends –
The technological advancements in the automotive lead-acid battery market are a key trend gaining popularity in the market. Major companies operating in the automotive lead-acid battery market are focused on providing advanced battery solutions to strengthen their market position. For instance, in June 2023, Schaeffler India, an India-based ball and roller bearing manufacturing company, launched TruPower 2W batteries designed for two-wheelers, including electric two-wheelers. These batteries, equipped with advanced features and backed by a 24-month warranty, provide a dependable and durable power solution, positioning them as an excellent option for owners of two-wheelers seeking superior performance and reliability.
The automotive lead acid batteries market covered in this report is segmented –
1) By Type: Flooded Batteries, Enhanced Flooded Batteries, VRLA Batteries
2) By Product: SLI Batteries, Micro Hybrid Batteries
3) By Sales Channel: Automotive Lead Acid Battery Sales via OEMs, Automotive Lead Acid Battery Sales via Aftermarket
4) By End User: Passenger Car, Light Commercial Vehicles, Heavy Commercial Vehicles, Two-Wheeler, Three-Wheeler
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Regional Insights –
Asia-Pacific was the largest region in the automotive lead acid batteries market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the automotive lead acid batteries market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the automotive lead acid batteries market report are GS Yuasa International Limited, Johnson Controls Inc., Exide Industries Limited, EnerSys Inc., Panasonic Corporation, CSB Battery Company Limited, East Penn Manufacturing Company, Leoch International Technology Limited, NorthStar Battery Company LLC, Clarios LLC, Koyo Battery Company Limited, FIAMM Energy Technology S.P.A, Reem Batteries & Power Appliances Co. SAOC, Trojan Battery Company LLC, C&D Technologies Inc., Robert Bosch GmbH, Thai Bellco Battery Co.Ltd., Crown Battery Manufacturing Company, Narada Power Source Co. Ltd., Shandong Sacred Sun Power Sources Co.Ltd., Amara Raja Batteries Limited, Banner Batterien GmbH, Camel Group Co.Ltd., Fengfan Co.Ltd., Guangdong Dynavolt Power Technology Co. Ltd., Haze Battery Co. Ltd., Hitachi Chemical Energy Technology Co. Ltd., Zibo Torch Energy Co.Ltd., Coslight Technology International Group Co.Ltd., PT Astra International Tbk
1. Executive Summary
2. Automotive Lead Acid Batteries Market Report Structure
3. Automotive Lead Acid Batteries Market Trends And Strategies
4. Automotive Lead Acid Batteries Market – Macro Economic Scenario
5. Automotive Lead Acid Batteries Market Size And Growth
…..
27. Automotive Lead Acid Batteries Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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