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Automotive Lead-Acid Battery Market
SHERIDAN, WY, UNITED STATES, September 10, 2024 /EINPresswire / -- IMARC Group's report titled "Automotive Lead-Acid Battery
market Report by Vehicle Type (Passenger Cars, Commercial Vehicles, Two-Wheelers, HEV Cars), Product (SLI Batteries, Micro Hybrid Batteries), Type (Flooded Batteries, Enhanced Flooded Batteries, VRLA Batteries), Customer Segment (OEM, Replacement), and Region 2024-2032". The global automotive lead-acid battery market size reached US$ 13.3 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 16.3 Billion by 2032, exhibiting a growth rate (CAGR) of 2.2% during 2024-2032.
For an in-depth analysis, you can refer sample copy of the report:
Factors Affecting the Growth of the Automotive Lead-acid Battery Industry:
● Rise of Electric and Hybrid Vehicles:
Lead-acid batteries play a crucial role, especially in hybrid vehicles. These batteries are used for auxiliary functions, such as powering lights, electronics, and other components. The shift towards sustainable transportation and stringent emission regulations are encouraging the adoption of electric and hybrid vehicles. Lead-acid batteries benefit from this trend by being incorporated into hybrid systems, which require reliable and durable battery solutions. Additionally, the recycling capabilities of lead-acid batteries make them an environmentally favorable option, aligning with the eco-friendly goals of the automotive industry.
● Cost-Effectiveness and Affordability:
Lead-acid batteries are known for their cost-effectiveness, making them an attractive choice for both automotive manufacturers and individuals. Compared to alternative battery technologies like lithium-ion (Li-ion), lead-acid batteries offer a lower upfront cost while providing reliable performance for essential automotive functions. This affordability is particularly crucial in price-sensitive markets, where individuals prioritize cost over advanced features. Furthermore, the relatively low cost of raw materials and the well-established manufacturing processes for lead-acid batteries contribute to their widespread adoption. As cost remains a significant factor in automotive production and individuals purchasing decisions, the demand for lead-acid batteries continues to be strong.
● Advancements in Battery Technology:
Innovations like enhanced flooded batteries (EFB) and absorbent glass mat (AGM) batteries offer improved charge acceptance and cycle life, making them suitable for modern vehicles equipped with advanced features, including start-stop systems and regenerative braking. These advancements address the increasing power demands of contemporary automobiles, ensuring lead-acid batteries remain relevant. Additionally, improvements in battery management systems and the integration of smart technologies are optimizing the efficiency and safety of lead-acid batteries. These technological strides not only support the performance of lead-acid batteries but also expand their applications, strengthening the market growth as automotive manufacturers seek reliable and cost-effective energy storage solutions.
Leading Companies Operating in the Global Automotive Lead-Acid Battery Industry:
● C&D Technologies Inc.
● Clarios
● CSB Energy Technology Co. Ltd (Showa Denko K.K.)
● East Penn Manufacturing Company
● EnerSys
● Exide Industries Ltd.
● GS Yuasa Corporation
● Koyo Battery Co., Ltd.
● Leoch International Technology Ltd
● Century Batteries Indonesia
● Robert Bosch GmbH
● Thai Bellco Battery Co. Ltd.
Ask Analyst for Sample Report:
Automotive Lead-acid Battery Market Report Segmentation:
By Vehicle Type:
● Passenger Cars
● Commercial Vehicles
● Two-Wheelers
● HEV Cars
Commercial vehicles exhibit a clear dominance in the market due to their higher battery replacement rates and larger fleet sizes requiring robust power solutions.
By Product:
● SLI Batteries
● Micro Hybrid Batteries
SLI batteries represent the largest segment accredited to their essential role in vehicle operation and widespread use in all vehicle types.
By Type:
● Flooded Batteries
● Enhanced Flooded Batteries
● VRLA Batteries
Flooded batteries hold the biggest market share attributed to their cost-effectiveness, reliability, and established technology.
By Customer Segment:
● OEM
● Replacement
OEM accounts for the majority of the market share owing to their direct involvement in equipping new vehicles with batteries.
Regional Insights:
● North America: (United States, Canada)
● Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
● Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
● Latin America: (Brazil, Mexico, Others)
● Middle East and Africa
Asia Pacific dominates the market, driven by the high production and sales of vehicles and the increasing demand for replacement batteries.
Global Automotive Lead-acid Battery Market Trends:
The development and adoption of advanced lead-acid battery technologies tailored for micro-hybrid vehicles is offering a favorable market outlook. Micro-hybrid vehicles, which use start-stop systems to improve fuel efficiency and reduce emissions, require batteries that can endure frequent cycling and provide reliable power. Enhanced flooded batteries (EFB) and absorbent glass mat (AGM) batteries are gaining traction as they offer improved charge acceptance, greater durability, and better performance in partial state-of-charge conditions compared to traditional lead-acid batteries.
Additionally, the expansion of renewable energy infrastructure and the increasing popularity of off-grid power solutions are presenting opportunities for lead-acid batteries in energy storage systems, which can be utilized in both automotive and stationary applications.
Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
About Us:
IMARC Group is a global management consulting firm that helps the world's most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.
Elena Anderson
IMARC Services Private Limited
+1 631-791-1145
email us here
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