Automotive Lead Acid Battery Market to Grow at a CAGR of 4.2% through 2026
Verfasser: pradnya_86 on Friday, 23 June 2017Over the years, the lead acid battery market has witnessed various product innovations including advanced lead acid batteries, absorbed glass mat, valve regulated lead acid batteries, sealed lead acid batteries, and others. The global automotive lead acid battery market is projected to register a CAGR of 4.2% in terms of value during the forecast period (2016 - 2026).
In this report, Future Market Insights (FMI) examines the factors impacting market growth and offers detailed insights for informed decision making.
Key market drivers and trends
The growth of the global automotive lead acid battery market is influenced by a number of factors including increasing vehicle production resulting from a promising vehicle sales outlook in developing economies, increasing production of hybrid and electric vehicles, rising vehicle electrification, research and development collaborations, and stable automobile production. Low maintenance and replacement costs and growing adoption of advanced automotive technologies such as start-stop further contribute to the growth of the market. Key trends observed in the global automotive lead acid battery market include advancements in lead acid battery technology, reduction in battery size, and long-term supply contracts between battery suppliers and automotive OEMs.