Global Automotive Battery Market Flourishes Relentlessly; Asserts MRFR Unleashing Industry Forecast Up To 2023

Pune, India, January 9, 2018/MRFR Press Release/- Market Research Future published a half Cooked research report on “Global Automotive Battery Market Research Report - Forecast to 2023”  – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023

Johnson Controls International plc. (U.S.), Haldex Incorporated (Sweden), ZF TRW Automotive Holdings Corporation (U.S.), Hitachi Ltd. (Japan), EnerSys (U.S.), Furukawa Electric Co. Ltd. (Japan), Leoch International Tech (China), GS Yuasa Corporation (Japan), Crown Battery Manufacturing Company (U.S.), and Exide Industries Limited (India) are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the global automotive battery market.

Automotive Battery Market – Overview

Batteries are an important component of automotive as they serve different automotive applications in both Conventional and Alternative Powertrains. The automotive battery market is expected to be driven by enhanced demand for electrified, micro-hybrid, and full-hybrid powertrains.

This growth of the automotive battery market can be attributed to the increase in demand for automobiles and stringent emission standards set by numerous government agencies. The growth will be further driven by increasing environmental concerns on emissions from traditional automotive batteries and offering of different advantages with the advanced technologies which are used in present batteries.

The market is expected to present huge opportunities during the forecast period with the growing demand for hybrid and electric vehicles and the increase in investment on research and development for hybrid and electric vehicles. However, the growth of this market is expected to be restrained by the underdeveloped infrastructure support for electric vehicles and also fluctuations in the prices of raw materials.                                                                                                         

Automotive Battery Market – Competitive Analysis

The Market is witnessing increased competition and is expected to further intensify during the forecast period. The players in the market incorporate acquisition, collaboration, partnership and expansion in order to gain competitive advantage in this market and to maintain their market position.

Technological advancements in the manufacturing of the automotive batteries and the increasing research and development expenditure by the key players is expected to increase the level of competition in the Automotive Battery Market.

Industry/ Innovation/ Related News:

Oct, 2017- OPTIMA Batteries expanded its product lineup to fit more vehicles with a DIN fitment solution. The new OPTIMA YELLOWTOP was introduced at SEMA Show will be available for purchase in the DIN group sizes H6 and H7.

August, 2017-  GS Yuasa Corp has started the research and development process for the introduction of lithium-ion battery that would double the range of its current battery at similar prices.

July, 2017- Hitachi Automotive Systems, Ltd. announced that its lightweight, compact and highly reliable lithium-ion battery module was chosen for Suzuki Motor Corporation's new Swift HYBRID SG and Swift HYBRID SL, fitted with hybrid technology. The lithium-ion battery module features high performance and a highly reliable battery cells cultivated through previous experience and combined into a single unit with a voltage detection substrate for detecting voltage in the battery cells.

Jan, 2017- Gridtential Inc. announced the completion of USD 6 million fundraise with strategic investors from some of the world's largest battery suppliers and distributors. New investors include East Penn Manufacturing, Crown Battery Manufacturing, Leoch International and Power-Sonic Inc.

April, 2016- EnerSys completed the acquisition of certain assets of The Enser Corp. The acquisition of ENSER provides EnerSys with additional technologies, expanded relationships with major aerospace and defense customers, and opportunities for additional synergies within our lithium businesses. EnerSys will have expanded capabilities in the design and development, automated manufacturing, and testing of thermal batteries for the US Department of Defense and allied militaries.

Get Report Details @ https://www.marketresearchfuture.com/reports/automotive-battery-market-4763

Automotive Battery Market – Segmentation

The automotive battery market can be segmented in to two key dynamics for the convenience of the report and enhanced understanding;

Segmentation by battery type - lead acid, nickel metal hydride, lithium ion, others

Segmentation by Vehicle Type - passenger vehicles, commercial vehicles

Segmentation by Regions: North America, Europe, APAC and Rest of the World.

Automotive Battery Market –

Regional Analysis

Asia Pacific region is expected to dominate the automotive battery market owing to mounting automobile demand and increase in disposable income of people. Shifting of auto manufacturers to Asia Pacific region because of lower manufacturing costs will further strengthen the growth of the market. Increasing disposable income and launches of new car models by original equipment manufacturers is alos contributing towards the growth of the market.

The automotive batteries market in North America region is also expected to grow significantly over the forecast period. The factors contributing to increase in the sales of automobiles in the region can be attributed to the low gasoline prices, introduction of tax cutting reforms and stable crude oil prices. The lifespan of the automotive batteries is also relatively high due to low congestion of traffic. In North America region, individuals drive their vehicles for a longer distance, which enables the batteries to charge and discharge fully.