Press release
Automotive Battery Market: Attractive Incentives Encourage Introduction of New Electric Vehicles Birthing More Demand
According to Transparency Market Research, the global market for automotive batteries will witness a steady growth over the forecast period, 2017-2022. The report estimates that by the end of 2022, the global automotive battery market will be worth over US$ 54.5 billion. For providing insightful forecast on the global automotive battery market, the report has analyzed the market into a slew of segments.
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https://www.transparencymarketresearch.com/automotive-battery-market.html
High Demand for Automotive Batteries with Chemical Composition - Small Sealed Lead Acid (SSLA)
Chemical composition of automotive batteries plays the most instrumental role in their adoption among automobile manufacturers. Chemicals filled inside these batteries have the critical influence in performance of battery with respect to power efficiency, engine ignition and electrical functioning of the entire vehcile. The report projects that chemical composition – Small Sealed Lead Acid – commonly identified as SSLA is becoming a sought-after in the global automotive battery market.
Key Focus on Equipping Compact and Mid-Sized Vehicles
Manufacturers of automotive batteries in the global market are expected to remain focused on delivering batteries for brimming sales of compact and mid-sized vehicles. As the global sales of these two vehicle-segments continues to soar beyond that of premium, luxury and commercial vehicles, providing automotive batteries at an equally rapid pace is becoming a challenge for market players.
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Automotive Battery Aftermarkets to Witness Steady Sales Traction
With respect to the sales of automotive batteries, OEMs are being observed as the largest channel in the global automotive battery market. According to the report, automotive batteries sold globally through OEMs will rake in nearly US$ 40 billion by the end of 2022. The report also expects that over the forecast period, OEMs will witness robust CAGR with respect to sales of automotive batteries.
On the other hand, the aftermarket sales of automotive batteries will witness a relatively moderate CAGR over the forecast period. Low need for changing automotive batteries in vehicle customization processes will be limiting the growth of automotive battery aftermarkets around the world.
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Key Manufacturers of Automotive Batteries
The report observes that companies namely, Johnson Controls International plc., Haldex Incorporated, ZF TRW Automotive Holdings Corporation, Hitachi Ltd., EnerSys, Furukawa Electric Co. Ltd., Leoch International Tech, GS Yuasa Corporation, Crown Battery Manufacturing Company, and Exide Industries Limited will be key players in the global automotive battery market throughout the forecast period.
A majority of these players are likely to focus on regulatory compliance in production of batteries and the chemicals being filled in them. The overall competition environment in the global automotive battery market is expected to remain aggressive in the upcoming years.
About Us
Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. We have an experienced team of Analysts, Researchers, and Consultants, who us e proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.
Each TMR Syndicated Research report covers a different sector – such as pharmaceuticals, chemical, energy, food & beverages, semiconductors, med-devices, consumer goods and technology. These reports provide in-depth analysis and deep segmentation to possible micro levels. With wider scope and stratified research methodology, our syndicated reports thrive to provide clients to serve their overall research requirement.
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