There is a rise in use of hybrid and electric vehicles due to the increasing price of the fuels, decrease in natural resources and for environmental concerns across the globe. There is high demand for car battery store for batteries for vehicles in various regions. There is high scope for the growth of the global Automotive Battery Market during 2016-2021.
Scope and Regional Forecast of the Automotive Battery Market:
According to the IndustryARC research analysis studies on the Automotive Battery Market, Lithium-ion (Li-ion) batteries will gain high demand and will be the established battery technology for Electric Vehicles and Hybrids Vehicles. The new vehicles market and aftermarket sales of batteries and accessories are expected to rise.
Europe leads the global Automotive Battery Market currently owing to a significant adoption of automotive battery by solution and industry verticals. Also, a number of car battery manufacturers and leading players in this industry are based in this region. Germany, France and Italy are the prominent countries with high demand for car battery types through 2021.
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Asia Pacific is expected to witness healthy growth in the Automotive Battery Market through 2021. New vehicles will be powered with start-stop batteries, this trend will be majorly observed in Europe, followed by U.S. and China. China and India are the major consumers of the car batteries in Asia Pacific through 2021.
Segmentation and Key Players of the Automotive Battery Market:
The Automotive Battery Market is segmented into various categories in the IndustryARC marketing research report by battery type, by vehicle type and by geography.
By battery type: lead acid batteries, lithium ion batteries, nickel metal hydride batteries and others
By vehicle type: electric bikes, electric cars, hybrid cars and others
By geography: North America, South America, Europe, Asia Pacific and ROW
The key players in the Automotive Battery Market according to the IndustryARC research report are as follows:
• Exide Technologies, Inc. (U.S.)
• Robert Bosch GmbH (Germany)
• Johnsons Controls, Inc. (U.S.)
• Tesla Motors, Inc. (U.S.)
• Delphi Automotive PLC (U.K)
The Automotive Battery Market is a rapidly growing market with increasing use of different automobiles in various regions across the globe. The rising use of electric vehicles, environmental concerns and increasing standards of living of the population across the globe is driving the growth and demand of this market during 2016-2021.
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