Press release
Rising the Demand for Automotive Battery Industry | Attractive Market Opportunities in the Market by 2024
Infinium Global Research
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The growing demand for electronic vehicles is driving the growth of the automotive battery market. The rechargeable batteries play important role in the electric vehicles. Electric vehicles required rechargeable batteries to propel the electric motors. Electric vehicles are the best suitable alternative to the traditional vehicles so the adoption of the electric vehicle is growing rapidly. In addition, stringent emission standards set by numerous government agencies are promoting the growth of electric vehicles that will further escalate the growth automotive battery market.
Segmented by Battery Type
Several types of batteries are used in the automotive that includes Lithium-ion, Lead-acid, Nickel-based, and Sodium-ion. Among these batteries, lithium ion holds the maximum market shares in the automotive battery market. These batteries are capable of providing greater efficiency compare to other batteries. Lithium-ion battery offers high energy density, low self-discharge that in turns to have a positive impact for the growth of the automotive battery market.
Segmented by Vehicle Type
Automotive batteries are majorly employed in passenger vehicles, electric vehicles, commercial vehicles and among others. Passenger Vehicles and the electric vehicles hold the significant market shares in the automotive battery market. The growing use of lithium-ion and lead-acid batteries in the passenger vehicle drives the growth of automotive batteries market. In addition, the high acceptance of electric vehicles projected to create numerous growth opportunities in the automotive battery market.
Regional Analysis
Among the regions that covered in the scope of the global automotive battery market report, Asia Pacific is the largest and fastest growing region. The high demand for automotive batteries in the passenger vehicles and ongoing advancements in the battery technology are the key factors that drive the market of automotive batteries market in this region. In addition, the growing automotive sector and high adoption of electric vehicles in China and growing disposable income are contributing to the growth of the automotive battery market.
Read Detailed Index of full Research Study @ https://www.infiniumglobalresearch.com/automotive/global-automotive-battery-market
Competitive Landscape
The key players in the global automotive battery market include Samsung SDI Co., Ltd., Panasonic Corporation, LG Chem Ltd., Johnson Controls, Exide Technologies, Hitachi, Ltd., NEC Corporation, Toshiba Corporation, Tesla, Inc. and A123 Systems, LLC.
About Infinium Global Research
Infinium Global Research and Consulting Solutions is started with a single motto of being business partner of first choice. We at Infinium work on the strengths of our clients to ensure we help them consolidate their market position. We firmly believe in the fact that ‘if you are able to develop newer opportunities then you find there is no dearth of opportunities for you. With our strategic research approaches and deep dive in the market segments, we try to find out new opportunities that our clients can encash with their existing resources. Our experts with over 100 years of cumulative experience in research offer the best in the industry services to our clients to ensure that they achieve their business goals.
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