(MENAFN- IMARC Group)
The latest report by IMARC Group, titled“ Asia Pacific Automotive Lead-Acid Battery Market : Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2024-2032 ,“ offers a comprehensive analysis of the industry, which comprises insights into the market. The report also includes competitor and regional analysis, and contemporary advancements in the market.
The Asia Pacific automotive lead-acid battery market size reached US$ 6,063.6 Million in 2023. Looking forward, IMARC Group expects the market to reach US$ 7,233.8 Million by 2032, exhibiting a growth rate (CAGR) of 1.9% during 2024-2032.
Asia Pacific Automotive Lead-Acid Battery Market Overview:
The Asia Pacific automotive lead-acid battery market is primarily driven by the increasing demand for automobiles in the region. Furthermore, the growing ownership of passenger vehicles, on account of the rising disposable incomes and elevating lifestyles of individuals living in the region, is also catalyzing the market growth. Additionally, the widespread adoption of two-wheeler vehicles across the Asia Pacific, in which lead-acid batteries are extensively used, is further creating a positive outlook for the overall market. Additionally, the shifting preferences from conventional internal combustion engine (ICE) vehicles to lead-acid batteries, owing to their cost-effectiveness and ability to provide high surge currents, are also stimulating the market growth.
Asia Pacific Automotive Lead-Acid Battery Market Trends:
Apart from this, the escalating demand for more environmentally friendly and sustainable options is further propelling the market for lead-acid batteries in the Asia-Pacific region. Additionally, various key market players are increasingly investing in research and development activities to introduce lead-acid batteries that have minimal environmental impact and an extended lifecycle. This, in turn, is acting as another significant growth-inducing factor.
Moreover, the government authorities of the Asia Pacific region are taking the initiative to reduce carbon emissions from vehicles and implementing stringent environmental regulations, which is creating a favorable environment for the lead-acid battery market. Besides this, the expanding IT infrastructure and the inflating need for reliable power sources for data centers are anticipated to drive the growth of the Asia Pacific lead-acid battery market in the coming years.
Explore the Full Report with Charts, Table of Contents, and List of Figures:
https://www.imarcgroup.com/asia-pacific-automotive-lead-acid-battery-market
Key Market Segmentation:
Key Regions Analysed China Japan India South Korea Australia Indonesia Others
Analysis for Each Country
Market by Vehicle Type Passenger Cars Commercial Vehicles Two-Wheelers HEV Cars
Market by Product SLI Batteries Micro Hybrid Batteries
Market by Type Flooded Batteries Enhanced Flooded Batteries VRLA Batteries
Market by Customer Segment Value Chain Analysis Key Drivers and Challenges Porters Five Forces Analysis PESTEL Analysis Government Regulations Competitive Landscape Competitive Structure Key Player Profiles
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
Key highlights of the Report:
Market Performance (2018-2023) Market Outlook (2024-2032) COVID-19 Impact on the Market Porter's Five Forces Analysis Strategic Recommendations Historical, Current and Future Market Trends Market Drivers and Success Factors SWOT Analysis Structure of the Market Value Chain Analysis Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.
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