Study report forecasts big boost to automobile battery market

Published: Mar 31, 2015 18:20

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The recently released study report by TechSci Research suggests healthy and robust growth to global automotive market in the years to come.

Author: Paul Ploumis
31 Mar 2015 Last updated at 06:13:30 GMT
WINGDALE (Scrap Monster): The recently released study report by TechSci Research suggests healthy and robust growth to global automotive market in the years to come.

According to the report titled ‘Global Automotive Battery Market Opportunities & Forecast, 2019’, the global automotive battery market is likely to cross $42.6 billion by 2019. The report cites growing automotive production around the world coupled with rising penetration of passenger cars in developing countries as the key drivers behind the demand rise in automotive battery market.

TechSci report notes that passenger car battery segment is the clear leader in global automotive market, in value terms. In second and third place are two-wheeler battery and commercial vehicle battery segments. The passenger car battery segment is expected to continue its dominance in international automotive battery market over the next five years.

Asia-Pacific has established itself as the major market for automotive battery sales. The region accounts for the largest volume share of the global automotive market, especially on account of increased presence of two-wheelers in the region. The sale of passenger car batteries has witnessed significant growth on account of increasing sales of passenger cars, especially in China and India. The region had stood first in two-wheeler volumes and second in passenger car volumes during 2013. TechSci indicates that the demand for automotive OEM segment has surged higher in the region in the past few years.

The report states that Johnson Controls accounts for almost one-third of the global automotive battery sales. The company is likely to continue its dominance through 2019. Other key automotive battery manufacturer includes GS Yuasa Corporation, Exide Technologies and East Penn Manufacturing Co., Inc.

The report also provides various statistics about current global automotive battery market, detailed analysis of recent market trends and future growth perspectives.

battery recycling mexico lead pollution automotive battery pasenger car Tech Sci Johnson Controls

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