New report published by QY Research which offers insights on the global Car Batteries market. The Car Batteries market has been experiencing steady growth graph since past years. During the 2017-2025 timeline, the global market for Car Batteries is expected to reflect a 54.5% increase in the revenue growth. In 2018 the global Car Batteries market was valued at US$ 19.3 Bn and by the end of the assessment year (2025), it is estimated to touch a value more than US$ 28.2 Bn growing at a value CAGR of 5.59% throughout the period of forecast.
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Global Car Batteries Market: Market Driver and Restraint
Car Batteries market is driven by the increasing of automotive production and populaton. Car Batteries are batteries that powers the starter motor, mainly in combustion vehicles. Car Batteries are usually lead-acid type, and is made of six galvanic cells connected in series to provide a nominally 12-volt system.
In recent years, global automotive industry growing steady. The automotive production growth rate in Asia Pacific is rather fast, while the growth rate in North America and Europe is relative slow. The market in Asia-Pacific is anticipated to expand at a substantial growth rate during the forecast period. GDP, countries in Asia-Pacific is expanding at a significant growth rate. The demand for these vehicles and presence of rapidly expanding economies such as China and India are anticipated to drive the market in the region.
Global Car Batteries Market: Key Takeaways
· The key differentiation strategy is to offer better products, in order to leverage opportunity arising from the rising demand for better product performance
· The global automotive population is growing as a CAGR about 4% in the last several years, the global automotive population reached 1.397 billion units in 2017
· One of the major challenges for the Car Batteries market is the automotive production growth rate declining. With the automotive market is more and more mature, the growth rate of automotive production is slowing down
Global Car Batteries Market: Forecast by Type
This segment includes VRLA Battery, Flooded Battery and Others. The average selling price for other batteries is relatively high in global Car Batteries market than other segments. VRLA Battery segment is expected to remain dominant in the global Car Batteries market throughout the forecast period with a revenue share of 74.63% in 2018. VRLA Battery segment is expected to rank relatively high on the attractiveness index in the global Car Batteries market by 2018 end, and it is expected to account for a relatively higher growth rate in the Car Batteries market over the forecast period.
Global Car Batteries Market: Forecast by Application
Application segment consists of Passenger Car and Commercial Vehicle. Among the market, Car Batteries finds application for passenger car, which was estimated to account for a sales share of 74% within the entire industry segment in 2017.
Global Car Batteries Market: Forecast by Region
North America, Europe, China, Japan, India, Southeast Asia and Rest of the World are the seven regions that are included in this report. Europe is the dominant market in the global Car Batteries market in terms of value. The Europe Car Batteries market was estimated to be valued at US$ 4.6 Bn in 2017 and is expected to expand at a value CAGR of 2.97% over the forecast period. The China market is expected to expand at a robust rate of 10.89% in terms of revenue over the forecast period due to the steadily increasing production of automotive in this region.
Global Car Batteries Market: Key Players
Johnson Controls, GS Yuasa, Exide Technologies, Hitachi Chemical, Camel Group, Sebang, Atlas BX, CSIC Power, East Penn, Banner Batteries, Chuanxi Storage, Exide Industries, Ruiyu Battery and Amara Raja are the key vendors included in this report.
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