Market Definition: Automotive Battery Market
Global Automotive Battery Market is expected to rise from its initial estimated value of USD 55.87 billion in 2018 to an estimated value of USD 103.18 billion by 2026,registering a CAGR of 7.97% in the forecast period of 2019-2026.
The market report focuses on current market status, regional, national and international level market and in-depth study report that offers granular analysis of the market share, manufacturers, product type, applications, technological advancement, and geographic regions. Market basic factors covered in this report includes: Market overview, definitions, and classifications, and industry chain overview. The report predicts future market orientation for the forecast period from 2019 to 2026 with the help of past and current market values.
Automotive batteries are batteries which supplies electric current to motor vehicle which are usually rechargeable in nature. Lithium- ion, Lead- Acid, Nickel, Sodium- ion are some of the automotive batteries types. They are usually is a 12-volt battery of six cells and is the heart of the car’s electrical system. Its main aim is to start the engine and then the power for electrical system is supplied by alternator.
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Finally, the report features business strategy of industry key players along with their strengths and weaknesses. Various regulatory organizations were used as a data sources during the report development. The report was prepared using exclusive research on built up and developing market players. The report helps the consumer and other firms by providing a comprehensive examination using which they can organize a full-fledged plan for the upcoming period.
Major Market Drivers & Restraints are as follows:
- The new fuel-saving technologies, like micro-hybrid systems are leading to higher battery usage.
- Increasing environmental concern is driving the market.
- Lack of adequate infrastructure required for proper operation of battery-driven vehicles is restraining the growth of this market.
- High cost of the batteries is another factor restraining the growth of this market.
Key Market Competitors: Automotive Battery Market
Few of the major competitors are Johnson Controls, GS Yuasa International Ltd., Exide Technologies., East Penn Manufacturing Company, Camel Group Co, Fengfan Co.,Ltd., FIAMM, ENERSYS., Robert Bosch GmbH, MK Battery., Amara Raja Group, Hitachi, Ltd., SANYO Electric Co.,Ltd, Okaya Power Pvt. Ltd., Luminous India, Huawei Technologies Co., Ltd., Chaowel Power Holdings Limited.
The report gives the details about market trends, future prospects, market restraints, leading market drivers, several market segments, key developments, key players in the market, and competitor strategies. This market report puts light on various aspects of marketing research that range from important industry trends, market size, market share estimates, sales volume, emerging trends, product consumption, customer preferences, historic data along with future forecast and key player analysis. Under competitive analysis section, major key players existing in the market are mentioned along with various details such as company profiles, their market share analysis, and their different strategies which make them thrive in the market.
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Market Segmentation: Automotive Battery Market
- By Battery Type:
- Lithium- ion
- Lead- Acid
- Construction type
- VRLA battery
- Sodium- ion
- Construction type
- By Vehicle Type:
- Passenger Vehicle
- Commercial Vehicle
- Electric Vehicle
- By Engine Type:
- Internal combustion Engine
- Petrol Engines
- Diesel Engines
- Compressed Natural Gas (CNG) Engines
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Global automotive battery market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of automotive battery market for global, Europe, North America, Asia Pacific, South America and Middle East & Africa.
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