R&D Efforts Aimed at Evolving the Lead Acid Technology to Meet Emerging Automotive Engineering Design, Performance & Environmental Challenges to Benefit Growth in the Market
The
global market for Automotive Lead Acid Batteries is forecast to reach 623.5
million units by 2024, driven by continuous R&D efforts and new
technology breakthroughs aimed at helping the lead acid technology meet
emerging automotive engineering design, performance and environmental
challenges.
As the most important portable power source, batteries are vital for an
optimally functioning automobile. The battery supplies electrical power to the
starter motor and the ignition system required to start the engine. It provides
the electrical juice required to keep the vehicle up, running and in motion at
all times. In modern automobiles, batteries play a vital role that goes beyond
the starting and charging systems and electrical lighting. The increasing
proliferation of electronic systems in the car had additionally catalyzed the
importance of batteries. Batteries today support additional electrical loads
exerted by electronic sub-systems such as electric power steering, electronic
safety systems, electric roll stabilization, electric AC compressor, electric
heating, infotainment systems, X-by-Wire systems, navigation systems,
entertainment screens, and dashboards etc. Defined as an electrochemical device
that converts chemical energy to mechanical energy and then back again to
chemical energy, batteries will continue to play a major role in automobiles
with internal combustion engines.
The prominence of lead-acid batteries in automotive industry can be put
to perspective by the fact that the auto industry accounts for about two-thirds
of worldwide lead acid battery consumption. Also, Lead acid battery with a 95%
recycling efficiency is a cost-effective technology compared to other
batteries. Growing prominence of electric vehicles is driving strong focus on
technological advancements in the lead-acid batteries market. Technological
advances has brought forth a new genre of long-lasting, lead- acid batteries
featuring smaller size and light in weight attributes. The lead battery
chemistry in addition to being inexpensive is also dependable for use in
critical power applications like in automobiles. Charging a lead acid battery
is simple and hassle free. Also, technology advancements have made lead acid
battery maintenance even easier with the development of maintenance-free "sealed"
valve-regulated lead acid (VRLA) batteries. Few of the advantages of
rechargeable standard lead acid batteries which have helped entrenched their
use in automobiles include cheapest battery technology to manufacture, low
technological complexity, large current capability, high tolerance to
overcharging, longer/prolonged storage capability, low internal impedance,
ability to deliver high currents, recyclable benefits, and compatibility for
trickle or float charge for prolonged periods.
Few of the major factors driving growth in the market include stable
automobile production trends worldwide; stringent environmental regulations
that favor lead acid as the least polluting battery technology; rising
motorization rates worldwide and a parallel opening up of the addressable
market opportunity in the aftermarket; high electrical loads associated with rapid
electronification of automobiles and the ensuing high risk of premature battery
depletion and need for replacement; rising production of micro-hybrids
amidst the growing acknowledgment of the urban-driving advantages of stop-start
systems and the resulting increase in demand for AGM batteries.
As stated by the new market research report on Automotive
Lead Acid Batteries, Asia-Pacific represents the largest market worldwide
supported by growing per capita vehicle ownerships trends, developing transport
infrastructure and the relative price competitiveness of lead acid in
comparison to other battery technologies. The Middle East and Africa represents
the fastest growing market with a CAGR of 6% over the analysis period led by the
development of automotive markets in these regions.
Major players in the market include AC Delco Corporation, ATLASBX Co.,
Ltd., Banner Batteries, B.B. Battery, Camel Group Co., Ltd., Crown Battery,
East Penn Manufacturing Company, Inc., ENERSYS, Exide Technologies, F.I.A.M.M
SpA, Firefly International Energy Co., FIRST NATIONAL BATTERY, Fujian Quanzhou
Dahua Battery Co. Ltd., Furukawa Battery Co. Ltd., GS Yuasa Corporation,
Hitachi Chemical Energy Technology Co., Ltd, Johnson Controls, Inc., Leoch
Battery Corporation, Lion Batteries Holdings Pty Ltd.,
Narada Power Source Co., Ltd., Trojan Battery Company, Yokohama
Batteries, and ZIBO TORCH ENERGY CO., LTD. among others.
The research report titled “Automotive
Lead Acid Batteries - Market Analysis, Trends, and Forecasts” announced by Global Industry Analysts Inc., provides a comprehensive review of market
trends, issues, drivers, mergers, acquisitions and other strategic industry
activities of global companies. The
report provides market estimates and projections for all major geographic
markets such as the U.S., Canada, Japan, Europe (France, Germany, Italy, UK,
Spain, Russia and Rest of Europe), Asia-Pacific (China, India, and Rest of
Asia-Pacific), Latin America (Brazil, Mexico, and Rest of Latin America) and
Rest of World. Product segments analyzed in the report include Original
Equipment Market (Motorcycles, Passenger Cars, and Commercial Vehicles) and
Aftermarket/Replacement Market (Motorcycles, Passenger Cars and Commercial
Vehicles).
Global Industry
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