Global Automotive Battery Market Expected to Reach XX Million by 2025
According to a new report published by Reports Monitor titled, “Automotive Battery Market by Type, Property & Applications: Global Opportunity Analysis and Industry Forecast, 2018–2025,” the Automotive Battery Market was valued at XX million in 2016 and is projected to reach at XX million by 2025, growing at a CAGR of XX% from 2018 to 2025.
The demand for the market is increasing in Asia Pacific region. Increasing product demand in automotive applications in different countries such as South Korea, India, Malaysia, and Indonesia is likely to positively influence the growth of the region.
Automotive batteries are called as rechargeable batteries which supplies electric energy to automobiles. The main purpose of the battery is to feed the starter, which starts the engine. However, the battery also serves as voltage stabilizer by absorbing abnormal transient voltages in vehicle electrical system. These batteries also supply power to automobile accessories such as radio, music player, air conditioners, wipers and charging plus.
There are various elements responsible to drive the growth of the market in coming years. Fuel cell technology-based automobile batteries are gaining wider acceptance in the market mainly because of their increased output efficiency and reduction in pollutant bi-products. Moreover, these batteries use harmless products such as oxygen and hydrogen as fuel and hence this technology is accepted by the vehicle makers to drive the global automotive battery market.
The global Automotive Battery Market report consists of various tools and techniques including, porters, value chain, market share analysis, and others. The data used in this report is gathered from extensive primary and secondary sources. These report gives the overall idea of market trends, opportunities, restraints, challenges, and others. The report includes major players along with their development strategies such as expansion, acquisition, merger, and others.
On the basis of segmentation, the market is bifurcated into different segments such as by chemical composition, by vehicle, by sales channel, and by region. The chemical composition segment is divided into lithium-ion, nickel-metal hydride, nickel-cadmium, and small sealed lead acid. However, based on the vehicle, it is categorized into compact vehicle, mid-sized vehicle, premium vehicle, and others. Sales channel is differentiated into OEM and Aftermarket.
Key Question Answered: •What will be the market size in 2025 and at what rate it will grow? •Who are the major key players in global automotive battery market and what are their strategies? •Which vertical industry is expected to show major growth? •What segment and region will lead the market and why?
The major companies profiled in the report include: East Penn Manufacturing Co. Inc., Camel Group Co. Ltd., Exide Technologies, FIAMM S.p.A., Fengfan Co. Ltd., Douglas Battery, Zhejiang Narada Power Source Co. Ltd., Johnson Controls Inc. The Furukawa Battery Co. Ltd., and Shandong Sacred Sun Power Sources Co. Ltd.
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