Global Automotive Lead-acid Battery Market Projected to Reach a Value of US$ 15 Billion by 2024by IMARC Group Market Research Reports
According to the latest report by IMARC Group titled, “Automotive Lead-Acid Battery Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the market reached a value of US$ 12.5 Billion 2018. Looking forward, the market is expected to reach a value of US$ 15 Billion by 2024, exhibiting a CAGR of around 3.1% during 2019-2024.
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Lead-acid battery refers to an electrochemical energy storage device that converts chemical energy into electricity. From the early days, when lead-acid batteries were used only for starting-lighting-ignition (SLI) process, and until recently there has been a considerable demand for these batteries. Due to the lower cost and high cell voltage of lead-acid batteries, they are commonly utilized in power stations and substations. Nowadays, they are also used in powered wheelchairs, uninterruptible power supplies (UPS), emergency lighting, automobiles, and hospital equipment.
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Lead acid batteries offer various advantages including cost-effectiveness, resistance to corrosion and abrasion, and tolerance to overcharging and low internal impedance. In recent years, the growing incomes of the consumers have led to steady demand for automobiles which, in turn, is providing a positive impact on the industry. Further, the manufacturers have implemented a battery monitoring sensor (BMS) in modern vehicles, in combination with electrical energy management (EEM) strategy to provide all the functionalities and also to improve the lifetime of lead-acid batteries. Another trend witnessed in this industry is the technological advancements in the battery ecosystem which has led to a shift in preference from conventional batteries to lead-acid batteries in the automotive industry. Moreover, lead-acid battery manufacturers are investing in R&D activities to improve the existing technology to compete with other battery technologies successfully.
Breakup by Vehicle Type
• Passenger Cars
• Commercial Vehicles
• Two- wheelers
• HEV Cars
Breakup by Product
• SLI Batteries
• Micro Hybrid Batteries
Breakup by Type
• Flooded Batteries
• Enhanced Flooded Batteries
• VRLA Batteries
Breakup by Customer Segment
Breakup by Region
• Asia Pacific
• North America
• Middle East and Africa
• Latin America
The report has also examined the competitive landscape of global automotive lead-acid battery market. Some of the major key players are Johnson Controls Inc., Exide Technologies Inc., GS Yuasa Corporation, 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. and CSB Battery Co., Ltd. (Hitachi Chemical Energy Technology Co. Ltd.).
Key highlights of the report:
• Market Performance
• Market Outlook
• Porter’s Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Competitive Structure
• Profiles of Key Players
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Created on Mar 12th 2019 07:33. Viewed 132 times.