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Automotive Lead Acid Battery Market 2021 Sales, Size, Share, Growth (CAGR of 4.6%) and Trend Forecast to 2028

NEW JERSEY, UNITED STATES, December 8, 2021 /EINPresswire.com/ -- Description

New Research Study ""Automotive Lead Acid Battery Market 2021 analysis by Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges and Investment Opportunities), Size, Share and Outlook"" has been added to Coherent Market insight

Automotive Lead Acid Battery Market is expected to be valued at US$ 34,535.01million by 2027, witnessing a CAGR of 4.6% % during the forecast period (2019-2027)

An automotive lead acid battery is a rechargeable battery that supplies the electric current to an automotive vehicle. The primary goal of the automotive lead acid battery is to provide the starter, which starts the engine. When the engine starts running, the power for the car’s electric systems is provided by the battery with the alternator charging. The lead acid battery is comprised of two different types of lead in an acid mixture that perform an electrochemical reaction, converting chemical energy into electric current and leading to the production of voltage in an automobile. Along with supplying power to run the vehicle, lead acid batteries provide voltage to vehicle accessories such as music player, air conditioner charging plugs, radio, and wipers.

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The market research on Automotive Lead Acid Battery Market provides a comprehensive overview of the industry, including definitions, classifications, applications, and industrial chain frameworks. It sheds light on the most important market characteristics as well as current industry developments. The study examines key sectors in depth to determine what drives market growth, such as trends and opportunities that may have a negative or positive impact on the market in the long run. It also emphasises the numerous applications and sectors. The study includes data that corresponds to historical milestones and current trends. Each segment has been thoroughly researched, with each major element such as market development potential, Automotive Lead Acid Battery market dynamics, market CAGR, and market value considered.

Major Key players in this Market:

· Exide Technologies
· Enersys Inc.
· FIAMM S.p.A
· Johnson Controls Inc.
· Exide Industries
· GS Yuasa Corporation
· CSB Battery Technologies
· Panasonic Corporation
· East Penn Manufacturing Company
· Leoch International Technology Limited.

Drivers & Trends

Rising emphasis of automobile manufacturers on the safety and comfort of driver and passenger has brought significant changes in automobile design. These changes include electric power steering, adaptive cruise control, road condition monitoring, etc. This, in turn, has increased the demand for efficient lead acid batteries application in different vehicle segments namely passenger and light commercial vehicles to support additional functions. Thus, these factors are expected to propel the global automotive lead acid battery market growth over the forecast period.

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Automotive Lead Acid Battery Market Segmentation:

By Battery Type
· Flooded
· Enhanced Flooded
· AGM

By Sales Channel
· OEM
· Aftermarket

By Vehicle Type
· Passenger car
· Light commercial vehicle

By Region
· Asia Pacific
· North America
· Latin America
· Europe
· MEA

Method of Research

The purpose of this section's research is to examine the Automotive Lead Acid Battery market over the course of the review period using several validated metrics based on Porter's Five Force Model. As a result, a thorough examination of the market aids in identifying and emphasising the market's primary strengths and weaknesses as it progresses. Furthermore, the study was created using a combination of primary and secondary research, including interviews, surveys, and observations from seasoned analysts, as well as reliable paid sources, trade magazines, and industry body databases. Beyond important points in the industry's value chain, the study includes a complete qualitative and quantitative assessment based on data gathered from industry analysts and market players.

Key Developments

· Key players in the market are focused on research and development activities, in order to enhance the market presence. For instance, in November 2019, Panasonic Corporation developed a new battery management technology that measures battery’s electrochemical impedance.
· Key companies in the market are involved in product launches, in order to gain competitive edge in the market. For instance, in August 2019, Exide Industries announced to produce batteries for an electric vehicle from its Gujarat-based plant.

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