According to a market research report, the Automotive Lead Acid Batteries Market by Product (SLI Batteries, Micro Hybrid Batteries), Type (Flooded, VRLA), Customer Segment (OEM, Aftermarket), End Use (Passenger Cars, Light & Heavy Commercial Vehicles), and Region – Global Forecast to 2028″, is projected to grow from USD 27.8 billion in 2023 to USD 34.0 billion by 2028, at a CAGR of 4.2%. Increasing production and sales of automotive vehicles and technological advancements in battery technology are expected to drive the growth of the market.
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145 Market data Tables
39 Figures
171 Pages and in-depth TOC on “Automotive Lead Acid Batteries Market – Global Forecast to 2028”
This report also provides a comprehensive analysis of the companies listed below:
The major players operating in the automotive lead acid batteries market include Camel Group Co., Ltd. (China), C&D Technologies, Inc. (US), Clarios (US), CSB Energy Technology Co., Ltd. (Taiwan), East Penn Manufacturing Company (US), EnerSys (US), Exide Industries Ltd. (India), Exide Technologies (France), GS Yuasa Corporation (Japan), Koyo Battery Co., Ltd. (Taiwan), Leoch International Technology Limited (China), Mebco (Saudi Arabia), PT. Century Batteries Indonesia (Indonesia), Reem Batteries (Oman), Ritar International Group (China), Robert Bosch GmbH (Germany), Stryten Energy (US), Tai Mao Battery Co., Ltd. (Taiwan), Tianneng (China), and others. The companies have wide-spread manufacturing facilities with an established portfolio of automotive lead acid batteries, a robust market presence, and strong business strategies. These factors are attributed to their progression in automotive lead acid batteries market.
Recent Developments in Automotive Lead Acid Batteries Market Industry
In January 2022, Clarios introduced the Smart AGM batteries for application in advanced driver assistance systems of electric vehicles.
In December 2021, GS Yuasa Corporation signed an agreement with Tata Autocomp GY Batteries Private Limited to double their production of lead acid batteries to more than 8 million units.
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Based on product, the SLI batteries segment is projected to be the largest segment during 2023 to 2028. The automotive industry has a well-established infrastructure and supply chain for SLI batteries. SLI batteries are also relatively inexpensive compared to other battery technologies, making them a cost-effective choice for automotive applications. This deep-rooted infrastructure and affordability makes them widely accessible and affordable for vehicle owners and manufacturers, thus contributing to the continued preference for SLI batteries in the automotive sector.
Based on type, the VRLA batteries segment is projected to be the fastest-growing segment during 2023 to 2028. VRLA batteries are known for their maintenance-free operation. The sealed design eliminates the need for adding water or checking the electrolyte level, which makes them convenient and easy to use in various applications. This feature reduces the total cost of ownership and simplifies battery management, driving the need for VRLA batteries in automotive lead acid batteries market.
Based on end use, two wheelers segment is estimated to be the second-fastest growing segment during the forecast period. With increasing urbanization and traffic congestion in many regions, there is a growing demand for efficient urban mobility solutions. Two-wheelers, particularly scooters, offer advantages such as maneuverability, easy parking, and lower fuel consumption. Manufacturers are focusing on designing and developing two-wheelers that cater to urban commuting needs, such as lightweight and compact models with advanced features like connectivity and smart navigation systems.
Based on region, Asia Pacific is projected to be the largest region for automotive lead acid batteries market during 2023 to 2028. The region is known for its large and rapidly growing automotive industry. Several countries in the region are major automobile manufacturers and have a significant domestic market for vehicles. Growth driven by high demand for batteries in both original equipment manufacturing (OEM) and aftermarket segments is among the major factors expected to drive the Asia Pacific market during the forecast period.
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