Press release
Automotive Starting Battery Market | To See Huge Growth & Profitable Business | Key Players – East Penn Manufacturing Company, Johnson Controls, EXIDE Technologies, GS Yuasa, BYD Co. Ltd, Robert Bosch GmbH, Saft Groupe SA
The automotive battery is a battery that supplies electric energy to automobiles, it is also widely known as a “rechargeable battery”. The automotive batteries are mainly used for starting, lighting, and ignition (SLI) systems and their main purpose is to start the system. Apart from starting the engine, automotive batteries supply the extra power required when the vehicle’s electrical requirements exceed the supply from the charging system. Moreover, the automotive starting battery is a stabilizer that balances potentially damaging voltage spikes. Owing to the growing demand for electric and hybrid vehicles, across the globe, alternate batteries such as absorbent glass mat (AGM) and enhanced flooded battery (EFB) are favored due to their better functionality and performance. In addition, the rise in electrification and modification, particularly for micro-hybrid and electric vehicles, are leading to a growing inclination toward absorbent glass mat (AGM) and enhanced flooded battery (EFB) batteries.
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COVID-19 scenario analysis:
Many companies have claimed that the disruption in the supply of components from various countries due to the outbreak of Covid-19 will impact the company’s planned production.
The ongoing issue of COVID-19 in several countries has affected the supply of many components to companies manufacturing facilities.
Almost every worker in every company has affected due to the pandemic, as there are jobs and salary cuts by the companies.
The COVID-19 is one of the first pandemics of its kind that is forcing the automotive industry to re-think its business
The premium segment may revive soon in the market but it will take a long time to get back on track for the entire market after the lockdown.
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Top impacting factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis
Some of the factors that boost the market growth include rise in integration of electronics and surge in demand for transportation. However, the safety issues related to battery uses, failure of battery due to excess heat, and underdeveloped infrastructure for electric vehicles are considered as the key factors restraining the growth of this market. Furthermore, the surge in demand for hybrids & environmental studies (EVS) and R&D in batteries for hybrid & environmental studies (EVS) are expected to offer lucrative opportunities for the market.
The automotive starting battery market trends are as follows:
Surge in integration of electronics
The use of electric power in the vehicle as fuel is a new growing trend over the past decade. The environmental changes and scarce oil resources are the driving force behind their increasing adoption. In addition, electric power is cheaper and cleaner than conventional fuels, which helps in the reduction of CO2 emissions, which are responsible for global warming. Moreover, the technological advancements in the field of alternative fueled vehicles such as electric vehicles are estimated to present an attractive opportunity for the market players. Hence, the increased traffic of international transportation has led to increased demand for automobile transport which has led to the growth of the automotive starting battery market.
Increase in demand for transportation
The transportation industry across the globe has grown significantly over the past few years. The increase in population and subsequent change in demand for the vehicle have increased. In addition, surge in population and economic growth are responsible for increasing automobile sales as well as sales of other ways of transportation such as marine, two-wheelers, and aviation. Moreover, governments across the globe are also promoting the adoption of alternative fuel vehicles to reduce the dependence on oil imports as well.
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Key benefits of the report:
This study presents the analytical depiction of the automotive starting battery market industry along with the current trends and future estimations to determine the imminent investment pockets.
The report presents information related to key drivers, restraints, and opportunities along with a detailed analysis of the automotive starting battery market share.
The current market is quantitatively analyzed from 2020 to 2027 to highlight the automotive starting battery market scenario.
Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
The report provides a detailed automotive starting battery market analysis based on competitive intensity and how the competition will take shape in the coming years.
Questions answered in the wave windsurf boards market research report:
What are the leading market players active in the automotive starting battery market?
What are the current trends that will influence the market in the next few years?
What are the driving factors, restraints, and opportunities in the market?
What are the projections for the future that would help in taking further strategic steps?
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