Automotive Lead Acid Battery

The global automotive lead acid battery market is forecasted to exhibit a steady CAGR of 5% during the forecast period (2020-2029), according to a market study by Fact.MR. Factor predominantly fueling the growth is the increasing vehicle production across the world. Lead acid batteries, which are known for providing an additional source of power, are gaining significant traction from the automotive industry. Furthermore, an increasing number of passenger cars is expected to accelerate the growth of the automotive lead acid battery market. However, the outbreak of COVID-19 has posed a challenge to the growth of the market in the immediate future. Asia Pacific, the leading regional market for automotive lead acid batteries, is tremendously impacted by the outbreak and has halted all automobile production activities.

“With the automotive industry standing still, the lead acid battery market, which is heavily reliant on the automotive, is going through an arduous phase. On a positive note, the resumed production in China could mitigate the long-term impact,” says the study

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Segmental Highlights

Fact.MR has adopted multi-disciplinary approach to shed light on the evolution of the global Automotive Lead Acid Battery market during the historical period of 2014 – 2018. The study presents a deep-dive assessment of the current growth dynamics, major avenues in the estimation year of 2019, and key prospects over the forecast period 2019 – 2029.

The global automotive lead acid battery market is estimated to create an absolute $ opportunity worth US$ ~ 14.5 Bn during the end of the forecast period (2019-2029) and is foreseen to grow at a moderate CAGR of 4.6%. Extensive rounds of primary and a comprehensive secondary research have been leveraged by the analysts at Fact.MR to arrive at various estimations and projections of the Automotive Lead Acid Battery market, both at global and regional levels. The analysts have used numerous industry-wide prominent business intelligence tools to consolidate facts, figures, and market data into revenue estimations and projections in the Automotive Lead Acid Battery market.