The battery market is to grow with CAGR of 4.15% from 2016 to 2021 to reach a market size of USD 17.26 billion by 2021. Increased power requirement, stringent norms and need of eco-friendly transportation has changed the demand for batteries. Lead-Acid batteries estimated to be the market size. The Asia-Oceania region is estimated to dominate the overall battery market.
The battery market is estimated to grow with CAGR of 4.15% from 2016 to 2021 to reach a market size of USD 17.26 billion by 2021. Growing integration of electronics, growing demand for transportation, fuel savings and government incentives for cleaner transportation changes are the major driving forces behind the growing demand for batteries.
Complete report on global battery market spread across 177 pages, profiling 14 companies and supported with 123 tables and 62 figures is now available at http://www.rnrmarketresearch.com/automotive-battery-market-by-transport-mode-automotive-marine-aerospace-application-two-wheelers-passenger-vehicles-lcv-hcv-passenger-ships-tankers-cargo-ships-commercial-and-general-avi-market-report.html .
Lead acid batteries are used in the automobile sector and the market for lead-acid batteries in automotive segment is estimated to be the largest. Lead acid batteries are used in all passenger vehicles for SLI function and these batteries are wet charged and have secondary cells, which are capable of multiple charges and discharges. Automotive lead acid batteries have also gone major developments to accommodate increasing electrical requirements of modern automobiles and increasing need for efficiency
The Asia-Oceania region is estimated to dominate the battery market, in terms of volume, and is projected to grow at the highest CAGR during the forecast period. This growth can be attributed to the progress in the socio-economic conditions by the emerging countries such as China, India, Indonesia, and Thailand. Large population in countries such as China and India has resulted in increased number of automobiles and two wheelers and which has driven the demand for batteries.
The study contains insights provided by various industry experts, ranging from material suppliers to Tier-1 companies and OEMs. The break-up of the primaries is as follows:
- By Company Type – Tier I 63%, Tier II29%, and others –8%
- By Designation - C level –45%, Director Level –43%, and others –12%
- By Region - Asia-Oceania -58%, Europe –30%, and North America–12%
The global battery market is dominated by a few globally established players, such as Johnson Controls Inc. (U.S.), Exide Technologies (U.S.), GS Yuasa (Japan), Panasonic Corporation (Japan) and Robert Bosch GmbH (Germany), among others. Key growth strategies adopted by these players include expansion and new product development. Ask for the discount before order a copy of Global Battery Market by Transport and Transport Mode (Two Wheeler, Automotive, Marine & Aerospace), Automotive Battery by Type (Lead Acid, Lithium Ion & Nickel Metal Hydride) & by Geography - Industry Trends & Forecast to 2021 research report at http://www.rnrmarketresearch.com/contacts/discount?rname=244036 .
This report contains various levels of analysis, including industry analysis (industry trends, Porter’s Five Forces, and PEST analysis), supply chain analysis, and company profiles, which together comprise and discuss the basic views on the emerging and high-growth segments of the battery market, competitive landscape, high-growth regions and countries, government initiatives, and market dynamics such as drivers, restraints, opportunities, and challenges.
The report enables new entrants/smaller firms as well as established firms to understand the market better to help them to acquire a larger market share. Firms purchasing the report could use any one or a combination of the below-mentioned four strategies (market development, product development/innovation, market diversification, and competitive assessment) to strengthen their position in the market.
On a related note, another research on Solid State Battery Market Global Forecast to 2020 says, the need for advanced batteries in next-generation electrical devices would drive the sold state battery market. Portable devices are to gain maximum growth during the forecast period. North America contributes largest market share. Companies like Cymbet Corporation, Infinite Power Solutions, Inc., Robert Bosch GmbH, Toyota Motor Corporation, Planar Energy Devices, Inc., Sakti3 Inc., Excellatron Solid State, LLC, Solid Power, Inc., BrightVolt, Inc. and STMicroelectronics N.V. have been profiled in this 174 pages research report at http://www.rnrmarketresearch.com/solid-state-battery-market-by-type-thin-film-portable-battery-capacity-application-consumer-electronics-electric-vehicles-medical-devices-packaging-rfid-smart-card-wearable-devices-wireless-devices-and-region-global-forecast--market-report.html .
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