Global Automotive Battery Market 2019: Industry Analysis Research Report

Posted by Abhijeet Bendre on March 19th, 2019

Automotive Battery Market Research Report 2019` - Global Forecast to 2023. Global Automotive Battery Market Information Report by battery type (lead acid, nickel metal hydride, lithium ion, others), vehicle type (passenger vehicles, commercial vehicles) and by Regions - Global Forecast To 2023.

Market Scenario:

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. Besides being cheaper and cleaner than conventional fuels, electric power helps in reduction of CO2 emissions, which are responsible for global warming. Rapid technological developments in the automotive industry, indicates technological developments in the automotive battery market in the form of high performing automotive batteries.

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. So the market for automotive battery, is expected to witness higher growth during the forecast period.

Regional Analysis:

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 United States. 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.

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, is evident. Aggressive growth in the Asian automotive market, is expected to boost the demand in the automotive battery market in this region. Additionally, the booming electric two-wheeler in the Asia Pacific region, has immense potential for the market for automotive battery, during the forecast period. This is expected to give the manufacturers, additional opportunities to develop additional revenue streams. The market has been experiencing rapid growth in the last two years, owing to the rising sales of passenger cars, emerging economies, shifting of global players and technological advancements. These factors give a much-needed thrust to the automotive battery systems market.

For More News Visit: https://www.marketwatch.com/press-release/automotive-battery-market-2018-global-analysis-opportunities-and-forecast-to-2026-2018-08-22

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