Dublin, July 08, 2021 (GLOBE NEWSWIRE) -- The "Automotive Lead Acid Battery Market Forecast to 2028 - COVID-19 Impact and Global Analysis by Product, Type, and End-user" report has been added to ResearchAndMarkets.com's offering.
The automotive lead acid battery market is expected to grow from US$ 16,860.5 million in 2020 to US$ 23,668.0 million by 2028; it is estimated to grow at a CAGR of 4.33% during 2020-2028.
Continuous production and acceptance of mild hybrid vehicles by top manufacturers such as Ford and Volkswagen is contributing to the rise of lead acid batteries for automotive applications. Also, the growing income of masses is further creating the demand for cars, which is positively boosting the production of cars. Therefore, countries such as India, are attracting attention of gigantic automakers for the establishment of car manufacturing plants. Recently, Tesla has announced about the establishment of a manufacturing plant in India. Such plants for automotive production would eventually create the demand for lead acid batteries as well. Furthermore, use of 12-volt lead acid batteries and regulations for BSVI compliant vehicles are also projected to foster the development phase of lead acid batteries.
Based on product, the SLI segment is expected to grow at a higher CAGR during the forecast period. SLI battery is designed for cars. Hence, it is always installed with the charging system of the vehicle. Hence, whenever the vehicle is in use, there is a continuous cycle of charge and discharge in the battery. SLI automotive batteries are designed to be fully charged at the time of starting the vehicle; and after the ignition, the lost charge, typically around 2% to 5% of the charge, is replaced by the alternator. Such batteries are not manufactured to be discharged below 50% depth of discharge (DOD) and when discharged below these levels, plates can get damaged and battery life may get reduced. Based on type, the market is segmented into flooded, enhanced flooded, and VRLA.
Similarly, based on end user, the market is segmented into passenger car, light commercial vehicle (LCV), and medium commercial vehicle (MCV) and heavy commercial vehicle (HCV). In terms of geography, in 2020, APAC was the fastest growing region. Increasing disposable income of individuals, coupled with rising economy, has led to the surge in the sales of passenger cars and commercial vehicles in the past few years. The region has become a global manufacturing hub due to the presence of a robust automotive industry. Rise in awareness about vehicle emissions, maintenance costs, and lower operating, and increase in government initiatives across the region are propelling the adoption of electric vehicles, thereby driving the automotive lead acid battery market.
The COVID-19 outbreak has severely disrupted the supply chain and manufacturing of electronics equipment, including the hardware component of automotive lead acid batteries. The emergence of COVID-19 virus across the globe, followed by lockdown scenarios, has led the automotive industry experts to analyze that the industry would face at least a quarter of lag in automotive equipment supply chain. This disruption is expected to create tremors through till mid-2021. The electronics equipment and automotive industry is likely to pick up pace soon after the governments across the globe lift the various containment measures steadily in order to revive the economy. The production of the electronics equipment and automotive is anticipated to gain pace from 2022, which is further foreseen to positively influence the electronics equipment and automotive manufacturing, including hardware components of automotive lead acid batteries.
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Key Topics Covered:
1. Introduction
2. Key Takeaways
3. Research Methodology
4. Automotive Lead Acid Battery Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.2.1 North America - PEST Analysis
4.2.2 Europe - PEST Analysis
4.2.3 Asia-Pacific - PEST Analysis
4.2.4 Middle East and Africa - PEST Analysis
4.2.5 South America - PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. Automotive Lead Acid Battery Market - Key Market Dynamics
5.1 Key Market Drivers
5.1.1 Rising Adoption Rate of Mild Hybrid Vehicles
5.1.2 Booming Production of Cars and Commercial Vehicles
5.2 Key Market Restraints
5.2.1 Adoption of Electric Vehicles Globally
5.3 Key Market Opportunities
5.3.1-volt lead-acid battery will evolve future of vehicle technology
5.4 Future Trends
5.4.1 Advent of BSVI-Compliant Vehicles
5.5 Impact Analysis of Drivers and Restraints
6. Automotive Lead Acid Battery Market - Global Analysis
6.1 Automotive Lead Acid Battery Market Global Overview
6.2 Automotive Lead Acid Battery Market - Global Revenue and Forecast to 2028 (US$ Million)
6.3 Market Positioning - Five Key Players
7. Automotive Lead Acid Batteries Market Analysis - By Product
7.1 Overview
7.2 Automotive Lead Acid Batteries Market, By Product (2020 and 2028)
7.3 SLI
7.3.1 Overview
7.3.2 SLI: Automotive Lead Acid Batteries Market - Revenue and Forecast to 2028 (US$ Million)
7.4 Micro Hybrid batteries
7.4.1 Overview
7.4.2 Micro hybrid batteries: Automotive Lead Acid Batteries Market - Revenue and Forecast to 2028 (US$ Million)
8. Automotive Lead Acid Batteries Market - By Type
8.1 Overview
8.2 Automotive Lead Acid Batteries Market, by Type (2020 and 2028)
8.3 Flooded
8.3.1 Overview
8.3.2 Flooded: Automotive Lead Acid Batteries Market - Revenue and Forecast to 2028 (US$ Million)
8.4 Enhanced Flooded
8.4.1 Overview
8.4.2 Enhanced Flooded: Automotive Lead Acid Batteries Market - Revenue and Forecast to 2028 (US$ Million)
8.5 VRLA
8.5.1 Overview
8.5.2 VRLA: Automotive Lead Acid Batteries Market - Revenue and Forecast to 2028 (US$ Million)
9. Automotive Lead Acid Batteries Market - By End-User
9.1 Overview
9.2 Automotive Lead Acid Batteries Market, by End-User (2020 and 2028)
9.3 PASSENGER CAR
9.3.1 Overview
9.3.2 PASSENGER CAR: Automotive Lead Acid Batteries Market - Revenue and Forecast to 2028 (US$ Million)
9.4 LCV
9.4.1 Overview
9.4.2 LCV: Automotive Lead Acid Batteries Market - Revenue and Forecast to 2028 (US$ Million)
9.5 MCV AND HCV
9.5.1 Overview
9.5.2 MCV AND HCV: Automotive Lead Acid Batteries Market - Revenue and Forecast to 2028 (US$ Million)
10. Automotive Lead Acid Battery Market - Geographic Analysis
11. Automotive Lead Acid Battery Market- COVID-19 Impact Analysis
11.1 Overview
11.2 North America
11.3 Europe
11.4 Asia Pacific
11.5 Middle East and Africa
11.6 South America
12. Industry Landscape
12.1 Overview
12.2 Market Initiative
12.3 New Product Development
13. Company Profiles
13.1 Clarios
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Products and Services
13.1.4 Financial Overview
13.1.5 SWOT Analysis
13.1.6 Key Developments
13.2 CSB Energy Technology Co., Ltd.
13.2.1 Key Facts
13.2.2 Business Description
13.2.3 Products and Services
13.2.4 Financial Overview
13.2.5 SWOT Analysis
13.2.6 Key Developments
13.3 EnerSys
13.3.1 Key Facts
13.3.2 Business Description
13.3.3 Products and Services
13.3.4 Financial Overview
13.3.5 SWOT Analysis
13.3.6 Key Developments
13.4 East Penn Manufacturing Company
13.4.1 Key Facts
13.4.2 Business Description
13.4.3 Products and Services
13.4.4 Financial Overview
13.4.5 SWOT Analysis
13.4.6 Key Developments
13.5 Exide Industries Limited
13.5.1 Key Facts
13.5.2 Business Description
13.5.3 Products and Services
13.5.4 Financial Overview
13.5.5 SWOT Analysis
13.5.6 Key Developments
13.6 GS Yuasa International Ltd.
13.6.1 Key Facts
13.6.2 Business Description
13.6.3 Products and Services
13.6.4 Financial Overview
13.6.5 SWOT Analysis
13.6.6 Key Developments
13.7 Johnson Controls, Inc.
13.7.1 Key Facts
13.7.2 Business Description
13.7.3 Products and Services
13.7.4 Financial Overview
13.7.5 SWOT Analysis
13.7.6 Key Developments
13.8 leoch International Technology Limited Inc
13.8.1 Key Facts
13.8.2 Business Description
13.8.3 Products and Services
13.8.4 Financial Overview
13.8.5 SWOT Analysis
13.8.6 Key Developments
13.9 Panasonic Corporation
13.9.1 Key Facts
13.9.2 Business Description
13.9.3 Products and Services
13.9.4 Financial Overview
13.9.5 SWOT Analysis
13.9.6 Key Developments
13.10 KOYO BATTERY CO., LTD.
13.10.1 Key Facts
13.10.2 Business Description
13.10.3 Products and Services
13.10.4 Financial Overview
13.10.5 SWOT Analysis
13.10.6 Key Developments
14. Appendix
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