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The Global Automotive lead-acid battery market is forecasted to grow further at an estimated CAGR of 4.40% between the years 2018 – 2026. The market is driven by a surge in automotive sales and the growing demand for battery-powered vehicles. The fact that these batteries can be recycled and are fairly cost effective are also aiding the market expansion.
The global automotive lead-acid battery market is segmented according to customer segments, products, types, and end-users. The customer segments include OEM batteries and aftermarket batteries. The products available in this market are classified into micro-hybrid batteries and SLI batteries. The lead-acid batteries by type are further classified into enhanced flooded batteries, flooded batteries, and VRLA batteries. The end-users for this market include LCVs and HCVs, passenger car, two wheelers and three wheelers.
The global lead-acid battery market is regionally segmented into Asia-Pacific, Europe, North America and rest of the world. The Asia-Pacific market is predicted to reign the global market over the forecast period. A major contributor to this region is China. The country is the biggest automobile manufacturer in the world for both passenger as well as commercial vehicles. The Indian market, too, is projected to witness significant growth over the forecast period, due to a huge demand for two-wheeler vehicles in the nation.