Global Automotive battery Market Analysis
According to Ozone Market Reports, The Global Automotive Battery Market was valued at USD 41.17 Billion in 2017 and is projected to reach USD 63.06 Billion by 2025, growing at a CAGR of 5.5% from 2018 to 2025.
What is automotive battery?
An automotive battery is defined as a rechargeable battery that is used for supplying electrical current to a motor vehicle. The electrical current provided by these battery is useful in automotive starting, lighting and ignition system. Apart from this, it is also used to provide power to automobile accessories such as radio, wipers, music players, air conditioners and charging plugs. Moreover, the automotive battery also serves as voltage stabilizer by absorbing abnormal transient voltages in vehicle electrical system. Rapidly expanding automotive industry in emerging economies have contributed in the growth of automotive battery Market.
Global Automotive battery Market Outlook
In the report, the market outlook section mainly encompasses fundamental dynamics of the market which include drivers, restraints, opportunities and challenges faced by the industry. Drivers and Restraints are intrinsic factors whereas opportunities and challenges are extrinsic factors of the market.
Rising consumer preference for pollution-free electric & hybrid vehicles, stringent emission standards set by government and rising environmental issues on emissions have been driving the global automotive battery market. On the other hand, availability of underdeveloped support infrastructure for electric vehicles might act as a restraint for the overall market at a global level.
Ozone Market Reports narrows down the available data using primary sources to validate the data and use it in compiling a full-fledged market research study. The report contains a quantitative and qualitative estimation of market elements which interests the client. The “Global Automotive battery Market” is mainly bifurcated into sub-segments which can provide a classified data regarding latest trends in the market. This can be of a great use in gaining knowledge about the cutting-edge technologies in the market.
Global Automotive battery Market Competitive Landscape
The “Global Automotive Battery Market” study report will provide a valuable insight with an emphasis on global market including some of the major players such as Camel Group Co. Ltd., Douglas Battery, East Penn Manufacturing Co., Inc., Exide Technologies, Fengfan Co. Ltd., Johnson Controls Inc., THE FURUKAWA BATTERY CO., LTD., Zhejiang Haijiu Battery Co. Ltd, Zhejiang Narada Power Source Co. Ltd., FIAMM S.p.A., Chaowei Power Holdings Ltd., Hitachi Ltd., Shandong Sacred Sun Power Sources Co. Ltd., GS Yuasa Corporation and Shandong Sacred Sun Power Sources Co. Ltd. Our market analysis also entails a section solely dedicated for such major players wherein our analysts provide an insight to the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share and market ranking analysis of the above mentioned players globally.
Global Automotive battery Market Segmentation, by Chemical Composition
• Small Sealed Lead Acid
• Nickel-metal Hydride
Global Automotive battery Market Segmentation, by Vehicle Type
• Compact Vehicle
• Luxury Vehicle
• Commercial Vehicle
• Mid-sized Vehicle
• Premium Vehicle
• Heavy Commercial Vehicle
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Global Automotive battery Market Geographic Scope
• North America
o Rest of Europe
• Asia Pacific
o Rest of Asia Pacific
• Latin America
• Rest of the World