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Automotive Lead Acid Batteries Market by Product

Business Фев 25, 2017 at 19:39

Automotive Lead Acid Batteries Market by Product (SLI, and Micro Hybrid Batteries), Type (Flooded, Enhanced Flooded, and VRLA), Customer Segment (OEM, Aftermarket), End-User (Passenger Car, LCVs/HCVs, Two Wheeler, Three Wheeles) - Global Forecast to 2021

(SLI, and Micro Hybrid Batteries), Type (Flooded, Enhanced Flooded, and VRLA), Customer Segment (OEM, Aftermarket), End-User (Passenger Car, LCVs/HCVs, Two Wheeler, Three Wheeles) – Global Forecast to 2021

The global automotive lead acid batteries market was valued at USD 34.30 billion in 2015 and is projected to reach USD 45.03 billion by 2021, at a CAGR of 4.8% from 2016 to 2021. The market is expected to witness growth in the coming years, owing to the increasing demand for SLI (start lighting and ignition) batteries from the OEM and replacement market of the automotive industry.

Growing sales of automobiles globally and the replacement market for spent batteries are driving the market for automotive lead-acid batteries the market for automotive lead acid battery is expected to reach around USD 45 billion by 2021

Automotive lead-acid battery market is directly related to the performance of automotive industry, i.e. if the automobile industry is witnessing growth then automotive lead-acid battery market would also reflect growth and vice-versa. In recent years it has been observed that there is rapid growth in the automotive industry in the Asia-Pacific region. Asia-Pacific region has reported surge in the overall passenger car sales. Leading automotive lead-acid battery manufacturing companies includes Johnson Controls, Exide Technologies, EnerSys, and GS Yuasa among others. The major factors driving the market in Asia-Pacific region are, high replacement demand from consumers with significantly high disposable incomes, and the large affluent expatriate population.

Growing demand for lithium-ion batteries and risk of battery explosion due to overcharging of batteries are the major restraints for the market.

The market for lithium-ion batteries is expected to witness substantial growth in the coming future, owing to the growing demand for the storage of electricity. These batteries are light weight and compact, which makes them the strongest contenders in the battery energy storage market. Also, lithium-ion batteries use non-aqueous electrolytes that offer high operating voltages compared to lead-acid batteries and sodium-sulfur batteries, which use aqueous electrolytes.

Several incidents of explosions of lead-acid batteries have been reported around the globe. These explosions have been reported in mines & quarries, stationary & mobile plants, and in vehicles as well.

Various types of automotive lead-acid battery

Flooded Batteries
Flooded batteries are also called as vented batteries, which requires periodic monitoring and topping up with distilled water for longevity. Flooded batteries support the automotive applications by meeting the needs of OEM’s and aftermarket customers. These batteries are cheaper than VRLA batteries in terms of value. Flooded batteries are ideal for traction, UPS, and marine applications.

Enhanced Flooded Batteries
Enhanced flooded batteries are sealed casing batteries and are also known as maintenance free batteries. These are higher version of flooded batteries in terms of battery technology. Enhanced flooded batteries are designed to meet the demand from the automobile industry by offering a cost-effective solution for entry level and conventional start-stop vehicles. These batteries are usually used in micro-hybrid vehicles and are ideal for start-stop application.

Valve Regulated Lead-Acid Batteries
Valve Regulated Lead-Acid (VRLA) batteries are also called as maintenance free batteries. They have higher charge acceptance which helps the batteries to charge quickly. They can be classified into VRLA AGM and VRLA Gel batteries. VRLA AGM is a class of VRLA battery in which the electrolyte is absorbed into a mat of fine glass fibre. VRLA AGM battery have longer life and higher tolerance for extreme environmental conditions. VRLA Gel battery contains a mixture of silica gel with electrolyte. VRLA Gel batteries are used for emergency lighting, UPS, and wheelchairs.

The objectives of this study are:

To define, describe, and forecast the automotive lead acid batteries market on the basis of product, type, customer segment, end user, and region
To provide market share analysis of the automotive lead acid batteries market
To provide detailed information regarding the key market dynamics, such as drivers, restraints, opportunities, and industry-specific challenges that may affect growth of the automotive lead acid batteries market
To provide detailed analyses of the value chain of the automotive lead acid batteries market
To forecast the size of the automotive lead acid batteries market, in terms of value with respect to the five main regions (along with their respective countries), namely, the Asia-Pacific, North America, Europe, Middle East & Africa, and South & Central America
To analyze opportunities present in the automotive lead acid batteries market for stakeholders, along with detailed competitive landscape and PESTLE analysis of market leaders
To strategically profile the key players and comprehensively analyze their market shares and core competencies in the automotive lead acid batteries market
To analyze competitive developments, such as acquisitions, investments, expansions, partnerships, agreements, joint ventures, and new product developments in the automotive lead acid batteries market.
The research methodology used to estimate and forecast the automotive lead acid battery market begins with capturing data on key vendor revenues through secondary research. Secondary research was mainly conducted to obtain key information about the industry’s supply chain, the market’s monetary chain, the total pool of players, and market classification & segmentation according to industry trends to the bottom-most level, regional markets, and key developments from both market and technology-oriented perspectives. The primary sources are mainly experts from core and related industries and preferred suppliers, manufacturers, distributors, service providers, technology developers, alliances, and organizations related to all segments of this industry’s value chain. In-depth interviews of various primary respondents that include key industry participants, subject matter experts (SMEs), C-level executives of key market players, and industry consultants were conducted to obtain and verify critical qualitative and quantitative information as well as to assess future prospects of the market.

The vendor offerings were also taken into consideration to determine the market segmentation. After arriving at the overall market size, the total market was split into several segments and subsegments, which were later verified through primary research by conducting extensive interviews with key personnel, such as CEOs, VPs, directors, and executives. Data triangulation and market breakdown procedures were employed to complete the overall market engineering process and arrive at the exact statistics for all segments and subsegments of the market. The breakdown of profiles of primaries is depicted in the figure below.

The global automotive lead acid batteries market has a diversified ecosystem of upstream players, including raw material suppliers, along with downstream stakeholders, vendors, end-users, and government organizations. Companies operating in the global automotive lead acid batteries market include Johnson Controls Inc. (U.S.), GS Yuasa Corporation (Japan), Exide Technologies Inc. (U.S.), and EnerSys Inc. (U.S.), among others.