Automotive Lead Acid Battery Market Estimated to Exhibit 3.3% CAGR through 2021-2031

 

The global automotive lead acid battery sales is projected to increasing, enabling the market’s valuation to reach US$ 36.2 Bn in 2031, according to the latest research by Future Market Insights (FMI). The report estimates the market to expand at a steady CAGR of over 3% through the course of 2021-2031.

Flooded batteries, followed by enhanced flooded batteries are most sought-after lead acid batteries. Flooded batteries are expected to account for over half of sales registered in the market. The use of lead batteries for starting, lighting and ignition (SLI) application is increasing around the world. Easy availability of lead acid batteries and their economical pricing as compared to other battery types will continue enabling growth in the market over the coming decade.

Despite advent of various advanced technologies, which threaten replacement, lead acid batteries sales will continue surging at a moderate pace. The rising production of passenger and commercial vehicles will continue supporting growth through the course of the forecast period.

Also, the advent of new technologies are aiding overall expansion. Some of the leading manufacturers are focusing on a wide range of automotive lead acid resistance, decreasing heat generation, modification of electrode plates, and improving charge acceptability.

These efforts are expected to improve performance of lead acid batteries, in turn creating lucrative opportunities for increasing sales.

Key Takeaways from Market Study

·         After a period of negative growth, sales will improve 2021 onwards, enabling the market register 2.8% y-o-y growth in 2021

·         The U.S. will account for over 86% of sales registered in North America. It is expected to remain the dominant market through the course of the forecast period

·         Increasing passenger vehicle production will enable sales in the U.K. to increase by 1.7% in U.K. in 2021

·         Germany and France will emerge as other key markets within Europe

·         Expansion of the automotive sector will support growth in China, followed by Japan and South Korea

“Market players are threatened by the availability of high-performing alternatives. The increasing demand for lithium-ion batteries and other alternatives has been compelling them to invest in research and development activities. This will enable the market to stay strong, registering steady growth through the course of the forecast period,” said a lead analyst at FMI.

Competitive Landscape

The global automotive lead acid batteries market is highly competitive at regional as well as global level, and highly consolidated in nature. Some of the key players included in the report are Clarios, GS Yuasa Corporation, Panasonic Corporation, Leoch International Technology Limited, Exide Industries Ltd., EnerSys Inc., and others. Top companies operating in the market are occupying hefty shares in terms of revenue. With compliance to governmental standards and regulations, these companies have a global brand presence. Prime manufacturers are also updating their technologies to improve their market share.

Find More Valuable Insights

The research report analyzes factors affecting the demand for automotive lead acid battery. The study examines the impact of COVID-19 on the market, besides gauging macroeconomic factor and prevailing market trends. The report analyzes the market on the basis of battery type, technology, vehicle, sales channel and region. The report gives qualitative and quantitative information on various players in this space. It also tracks the market by both, supply side and demand side.

For more information:

https://www.futuremarketinsights.com/reports/automotive-lead-acid-battery-market

 

Comments

Post a Comment

Popular posts from this blog

Automotive Wiring Harness Market to witness a high CAGR through 2027

  Substantial increase in the investment for automated driving activities and development of electric vehicles charging infrastructure across the globe are expected to remain key defining factors in the global  automotive wiring harness market . As per FMI’s analysis, the global automotive wiring harness sales are set to exceed US$ 48 Bn in 2021, whereas in the long-term, revenues will grow at 9.4%. FMI’s latest edition of the report reveals latest perspectives, along with a detailed analysis of how COVID-19 induced slowdown will impact future sales. The COVID-19 pandemic crisis has severely affected the global economic growth, resulting in complete shutdown manufacturing activities and disruptions in the supply chain networks. However, automotive wiring harness market is expected to recover sharply as the economic activity resumes post the containment of pandemic. Key Takeaways ·          Automotive wiring harness demand is driven by healthy demand from automotive production in
Read more

Automotive Pump Market Expected to Behold a CAGR of 6.1% through 2021-2031

  The automotive pump market is expected to witness a significant growth in 2021, thanks to the implementation of various carbon emission norms across various countries. A study by Future Market Insights (FMI) on  automotive pump market  has forecast it to reach US$ 106.0 Mn by the end of 2031, growing at a CAGR of 6.1% over the forecast years (2021-2031). The rising passenger vehicle sales will remain a chief growth driver. In terms of vehicle type, passenger vehicle segment is forecast to remain dominant, accounting for over 70% of sales recorded in the market. Key Takeaways of Automotive Pump Market Study ·          After a period of slow growth amid COVID-19, the automotive pump sales is poised to recover, exhibiting nearly 6% Y-o-Y growth in 2021 ·          The demand from the U.S. will remain a chief growth driver as the country continues accounting for over 80% of sales registered in North America ·          Increasing passenger vehicle production will support growth i
Read more

Battery Energy Storage System Market Estimated to Exhibit 32% CAGR through 2026

  According to an analysis by Future Market Insights (FMI), the   battery energy storage systems  market  is expected to be valued at US$ 64.92 Bn in 2032, with 27.9% CAGR during the forecast period. The market’s expansion can be attributed to rising demand for  grid energy storage systems  due to ongoing grid modernization, increasing penetration of lithium-ion batteries in the  renewable energy  sector, and the rising trend of adopting a low-carbon fossil-fuel-free economy, as well as the ongoing  renewable energy  revolution. The most common renewable energy kinds stored in grids are  solar and wind energy . However, the energy generation process is disrupted when the sun is obscured by clouds or by changing wind currents. Moreover, the significant financial investment necessary to build battery energy storage devices, on the other hand, is limiting industry expansion. Such oscillations necessitate the deployment of flexible grid solutions for  energy storage.  Grid modernizat
Read more