The report, now available on ASDReports, "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", 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.
Lead acid batteries have been the dominant battery technology in the automotive market, owing to their low cost and high performance and longevity. With the rising investments in the lead acid batteries in Asia-Pacific, particularly China, Japan and India, is projected to drive the growth of the automotive lead acid batteries market in this region.
Passenger cars is expected to be the fastest-growing end user segment of the global automotive lead acid batteries market
Based on end user, the automotive lead acid batteries market has been segmented into passenger cars, HCVs & LCVs, two wheelers, and three wheelers. The passenger cars segment lad the automotive lead acid batteries market in 2015 and is projected to be the fastest-growing segment from 2016 to 2021. The use of passenger cars is expected to increase in countries, such as China, Japan, France, Germany, Brazil, and South Africa. The extensive usage of the products, such as Starting, Lighting and Ignition (SLI) batteries and VRLA batteries has fueled the growth of the market.
Based on type, flooded lead acid battery was the largest segment of the automotive lead acid batteries market
Based on type, flooded batteries segment was the largest segment of the global automotive lead acid batteries market. These batteries are also called as vented batteries, which require periodic monitoring and topping up with distilled water for longevity to support SLI applications. The demand for enhanced flooded batteries and VRLA batteries is projected to increase in near future, as these batteries offer a cost-effective solution for entry level start-stop vehicles. VRLA batteries are engineered to operate at changing temperatures and can be installed at different orientations, unlike flooded batteries.
Asia-Pacific was the largest market for the automotive lead acid batteries market in 2015
Asia-Pacific was the largest automotive lead acid batteries market in 2015. High growth in the automotive sector in the region is expected to boost the demand for automotive lead acid batteries in the region.
Key players operational in the automotive lead acid batteries market include Johnson Controls Inc. (U.S.), G.S.Yuasa Corporation (Japan), Exide Technologies Inc. (U.S.), and EnerSys Inc. (U.S.).