Report Details:
15 Companies Covered
188 Pages
Pune, India, November 17, 2017 /MRFR Press Release/- Market Research Future published a cooked research report on Global Automotive Battery Market. The Global Automotive Battery Market is expected to witness significant growth between 2022 and 2030.
Automotive Battery Market Statistics:
Automotive battery market has witnessed significant growth in the recent years. With manufacturers significantly investing in the development of automotive components that optimize electricity consumption within the automobile, the automotive battery market is expected to register high growth rate. Rapidly rising demand for electric vehicles, is one of the major drivers contributing in the growth of the automotive battery market. Increasing demand for electric vehicles will be tasked with enhancing battery performance and extending the capacity of individual batteries. It will also develop techniques for faster recharging. With the advent of technologies such as ADAS, occupant sensing and vehicle connectivity, the demand in the automotive battery is expected to significantly grow, mainly due to the increased requirement of battery power to support such technologies. Increasing demand for passenger vehicles and significant transformation of commercial vehicles to ensure high performance, are expected to propel the demand in the automotive battery market during the forecast period.
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Global Automotive battery Market:The market for automotive battery systems is expected to grow with an increase in demand for automobiles, majorly in the United States and the European region. There is an immense demand of commercial vehicles in the U. S. With the increase in demand of commercial vehicles there is an increase in demand for automotive battery systems market. The growth of the European region is also driven by the presence of major auto manufacturers who are mainly focusing on meeting the increasing demand for both, passenger and commercial vehicles. Owing to all these factors, the growth of the regions is expected to grow at a rapid pace.
Key Players:The key players of global Automotive battery market are 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). In 2016, these companies accounted for a share of XX% of the global market.
Market Research Analysis:Due to the presence of the most populous countries of the world such as China and India, the dominance of APAC in the global automotive battery systems market value becomes evident. Aggressive growth in the Asian automotive market is expected to boost the demand in the automotive battery market in this region. The market has been experiencing rapid growth in the last two years, owing to the rise in sales of passenger cars, emerging economies, shifting of global players and technological advancements. These factors give the much needed thrust to the automotive battery systems market.