Lead Acid Batteries (Automotive): A Global Strategic Business Report
San Jose, California (PRWEB) September 24, 2014
Follow us on LinkedIn – Lead acid battery represents the most prominent battery technology for automobiles, including passenger cars, commercial vehicles and motorcycles. The prominence of lead-acid batteries in automotive industry can be put into perspective by the fact that the auto industry accounts for about two-thirds of worldwide lead acid battery consumption. Key benefits that make lead acid batteries the most dominant of all automotive battery technologies include superior cold cranking performance, low cost, reliable, robust, higher tolerance to overcharging, low internal impedance, and recyclability. Lead-acid batteries are widely preferred for Starting, Lighting & Ignition (SLI) applications in automobiles, including those with start-stop functionalities, and basic micro-hybrid models.
Growing vehicle population worldwide bodes well for the use of lead acid battery in SLI applications. Increasing average age of vehicles is additionally spurring growth in the replacement market. Steady automotive production capacity expansion, particularly in developing markets such as Asia-Pacific, will help drive demand in the OEM market. The automotive aftermarket represents a lucrative market for automotive lead acid batteries. Demand in this market, stems primarily from replacements of worn out/dead batteries. Increase in the number of vehicle miles travelled and a parallel increase in battery drain therefore helps drive opportunities for automotive lead acid batteries in the aftermarket. Further fuelling growth in the replacement market is the recession induced change in consumer buying behaviour that favours longer retention of vehicles. In the commercial vehicles segment, higher loads, higher hood operating temperature conditions, and regular vehicle inspection operations represent major demand drivers.
Growing prominence of electric vehicles is driving strong focus on technological advancements in the lead-acid batteries market. Incremental technology improvements are bringing forth a new genre of long-lasting, lightweight lead-acid batteries in small form factors. Development of advanced lead-acid batteries will continue to expand applications in micro and mild-hybrid cars. Lead acid batteries will also find high value use as auxiliary power source for supporting on-board electrical systems. Despite the opportunities for growth escalating lead prices will emerge as a key challenge to growth.
As stated by the new market research report on Lead Acid Batteries (Automotive), Asia-Pacific represents the largest market worldwide. The region is also forecast to emerge as the fastest growing market with a CAGR of 7.0% over the analysis period. Growth in the region is driven by growing passenger car and commercial vehicle production, and robust demand from countries such as India, China, and Korea, where huge demand for two-wheelers and new cars, including luxury cars continues to grow supported by the expanding base of affluent middle-class population.
Key players covered in the report include CSB Battery Co. Ltd., East Penn Manufacturing Company Inc., Exide Technologies, Tudor India Limited, Exide Industries Limited, F.I.A.M.M SpA, Fujian Quanzhou Dahua Battery Co. Ltd., Furukawa Battery Co. Ltd., GS Yuasa Corporation, Johnson Controls Inc., Lion Batteries (Wholesale) Pty Ltd., and Panasonic Corp., among others.
The research report titled “Lead Acid Batteries (Automotive): A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, growth drivers, innovations and launches, and strategic industry activities of major companies worldwide. The report provides market estimates and projections for all major geographic markets including the United States, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific (China, India, and Rest of Asia-Pacific), Latin America (Brazil, Mexico and Rest of Latin America) and Rest of World. Key market segments analysed in the report include Original Equipment Market (Motorcycles, Passenger Cars, and Commercial Vehicles) and Aftermarket/Replacement Market (Motorcycles, Passenger Cars, and Commercial Vehicles).
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