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Automotive Lead Acid Batteries Market | Global Industry Outlook 2029

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Automotive Lead Acid Batteries Market | Global Industry Outlook 2029

May 27
01:49 2022
Automotive Lead Acid Batteries Market | Global Industry Outlook 2029
DataM Intelligence
Global Automotive Lead Acid Batteries Market is estimated to reach a high CAGR of 4.4% during the forecast period (2022-2029).

Market Overview

Lead acid batteries are the most popular form of battery, despite their poor energy density, low efficiency, and high maintenance requirements. Further, lead acid batteries have a long lifespan and affordable costs when compared to other battery types and have the distinct benefit of being the most widely utilized type of battery for most rechargeable battery applications such as in automotive engines and hence have a well-established, mature technical basis.

An automotive lead acid battery comprises two electrodes, a spongy or porous lead negative electrode and a lead oxide positive electrode, submerged in an electrolytic solution composed of sulfuric acid and water. An electrically insulating but chemically permeable membrane separates the two electrodes to prevent the electrodes from coming into contact with each other due to the physical movement of the battery or variations in electrode thickness. This membrane also protects the electrolyte from electrical shorting.

 

Download free sample @ https://www.datamintelligence.com/download-sample/automotive-lead-acid-batteries-market

 

Market Dynamics

Growing demand for automotive in the market acts as a significant driver for the automotive lead acid battery market. Nonetheless, the availability and increasing utilization of alternative batteries such as lithium-ion batteries act as a major market restraint.

The growing demand for automotive

The automotive industry’s performance is directly associated with the automotive lead-acid battery market; as a result, if the automotive industry is growing, the automotive lead-acid battery market will increase as well, and vice versa.

The automotive sector has seen remarkable growth in recent years. For instance, as per the International Organization of Motor Vehicle Manufacturers, the overall number of vehicles manufactured globally increased from 5,21,46,292 in the third quarter of 2020 to 5,72,62,777 by the same period in 2021. The primary factors driving the market are the strong replacement demand from customers with relatively high disposable incomes and the significantly affluent expatriate population.

However, as the demand for automobiles rises, production also experiences a hike. As a result, the demand for an automotive lead acid battery would rise since the product is an essential component in automobiles. Therefore the respective factor could be recognized as a major market driver.

 

Market Segmentation: 

By Product

l SLI

l Micro-Hybrid Batteries

l Stationary

l Motive

l Others

 

By Type

l Flooded Batteries

l Enhanced Flooded Batteries

l VRLA Batteries

l Others

 

By Customer

l OEM

l Aftermarket

 

By Application

l Electric Vehicles

l Hybrid Vehicles

l Light Motor Vehicles

 

View full report @ https://www.datamintelligence.com/research-report/automotive-lead-acid-batteries-market

 

Competitive Landscape

The global automotive lead acid batteries market is less dynamic in terms of the number and strength of global and local producers due to the presence of limited manufacturers such as Johnson Controls, Mebco, Reem Batteries & Power Appliances Co. SAOC, ENERSYS, NorthStar, C&D TECHNOLOGIES, Exide Technologies, GS Yuasa International Ltd., and Robert Bosch GmbH in the market. To achieve competitive advantages and recognition in their particular markets, significant market stakeholders use market techniques such as mergers, acquisitions, product launches, contributions, and collaborations.

 

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Country: United States
Website: https://www.datamintelligence.com/research-report/automotive-lead-acid-batteries-market

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