Global Automotive Battery Market Research and Forecast, 2018-2023

Global automotive battery market size, share, market intelligence, company profiles, market trends, growth, strategy, research and analysis report, forecast 2018-2023

An automotive battery is a rechargeable battery that supplies electrical energy to a motor vehicle this type of battery is also known as an SLI battery (starting lighting ignition) and its main purpose is to start the engine. Once the engine is running, power for the automobile electrical systems is supplied by the alternator. Automobile batteries are designed to release a high burst of current and then be quickly recharged. With rising sales of automobiles such as electric vehicles, manufacturers of automotive batteries are focusing on extending the capacity of these batteries by adopting newer technologies and advancement. In parallel to the advent of battery technologies that enable quick recharging and power-saving options, automobile manufacturers and Original Equipment Manufacturer (OEMs) are also being compelled to develop vehicle components & systems with optimized power consumption.

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The Global automotive battery market is expected to grow at a CAGR of 6.1 % during 2018-2023. The major factor that augments the global automotive battery market is increasing automobile sales, rising adoption of vehicle electrification, growing battery sales in the replacement market, growing lead-acid battery usage in the automobile sector. Though, lack of charging stations for electric vehicles, environmental concern such as lead toxicity, act as a barrier and hinders the growth of global automotive battery market. on the other hand, growing fuel cell-based batteries, R&D on newer battery technologies such as aluminum ion and aluminum air batteries and rising sales of electric vehicles in the forecasted year act as an opportunity and may augment the global automotive battery market in the forecasted year.

Global automotive battery market is divided regionally into North America, Europe, Asia Pacific and Rest of the World.  APAC is growing at a significant pace and expected to occupy a major market share in the forecasted period. China is the major country in this region owing to overgrowing automobile sales and technological advancement. India is anticipated to become one of the leading economies of the world in the coming decades. It is the second most populous country after China and ranks third in terms of purchasing power parity, after China and the US. With a growing population, India is simultaneously experiencing massive urbanization, this will fuel the automobile sector in India and augment the automotive battery market in the forecasted year. Europe is showing growth in the next five years owing to widespread production of automobiles in countries such as Germany, Italy, Sweden, and the UK. The presence of major automotive manufacturers, such as Jaguar, Volkswagen, Volvo, Audi, BMW, Mercedes-Benz, and Fiat, in the region is anticipated to aid in industrial expansion.

The report covers

• Comprehensive research methodology of global automotive battery market.
• This report also includes a detailed and extensive market overview with key analyst insights.
• An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
• Analysis of regional regulations and other government policies impacting the global automotive battery market.
• Insights about market determinants which are stimulating the global automotive battery market.
• Detailed and extensive market segments with regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.

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