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The Business Research Company's Automotive Lead Acid Batteries Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

LANDON, GREATER LANDON, UNITED KINGDOM, October 8, 2024 /EINPresswire.com/ -- The automotive lead acid batteries market has experienced robust growth in recent years, expanding from $35.69 billion in 2023 to $37.47 billion in 2024 at a compound annual growth rate (CAGR) of 5.0%. The growth in the historic period can be attributed to automotive industry growth, conventional vehicle dominance, reliability and durability, aftermarket demand, cold cranking performance, support for start-stop systems.

What Is The Estimated Market Size Of The Global Automotive Lead Acid Batteries Market And Its Annual Growth Rate?
The automotive lead acid batteries market is projected to continue its strong growth, reaching $45.73 billion in 2028 at a compound annual growth rate (CAGR) of 5.1%. The growth in the forecast period can be attributed to transition to mild hybrid systems, continued dominance in conventional vehicles, market penetration in developing regions, support for commercial vehicles, hybridization trends, government support for recycling.

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Growth Driver Of The Automotive Lead Acid Batteries Market
Increasing disposable income is expected to propel the growth of the automotive lead acid batteries market going forward. The income available after deducting taxes and social security charges is called disposable income. Disposable income influences consumer spending on electric vehicles, impacting the demand for automotive lead-acid batteries as a cost-effective power source, particularly in regions with increasing disposable income levels.

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Who Are The Leading Competitors In The Automotive Lead Acid Batteries Market Share?
Key players in the market include GS Yuasa International Limited, Johnson Controls Inc., Exide Industries Limited, EnerSys Inc., Panasonic Corporation, CSB Battery Company Limited, East Penn Manufacturing Company, Leoch International Technology Limited, NorthStar Battery Company LLC, Clarios LLC, Koyo Battery Company Limited, FIAMM Energy Technology S.P.A, Reem Batteries & Power Appliances Co. SAOC, Trojan Battery Company LLC, C&D Technologies Inc., Robert Bosch GmbH, Thai Bellco Battery Co.Ltd., Crown Battery Manufacturing Company, Narada Power Source Co. Ltd., Shandong Sacred Sun Power Sources Co.Ltd., Amara Raja Batteries Limited, Banner Batterien GmbH, Camel Group Co.Ltd., Fengfan Co.Ltd., Guangdong Dynavolt Power Technology Co. Ltd., Haze Battery Co. Ltd., Hitachi Chemical Energy Technology Co. Ltd., Zibo Torch Energy Co.Ltd., Coslight Technology International Group Co.Ltd., PT Astra International Tbk.

What Are The Dominant Trends In Automotive Lead Acid Batteries Market Growth?
Major companies operating in the automotive lead acid battery market are increasing their focus on introducing innovative, customized formulations to gain a competitive edge in the market. Customized formulations refer to the tailoring or modification of a substance's composition, typically to meet specific requirements or specifications.

How Is The Global Automotive Lead Acid Batteries Market Segmented?
1) By Type: Flooded Batteries, Enhanced Flooded Batteries, VRLA Batteries
2) By Product: SLI Batteries, Micro Hybrid Batteries
3) By Sales Channel: Automotive Lead Acid Battery Sales via OEMs, Automotive Lead Acid Battery Sales via Aftermarket
4) By End User: Passenger Car, Light Commercial Vehicles, Heavy Commercial Vehicles, Two-Wheeler, Three-Wheeler

Geographical Insights: Asia-Pacific Leading The Automotive Lead Acid Batteries Market
Asia-Pacific was the largest region in the market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Automotive Lead Acid Batteries Market Definition
The automotive lead-acid batteries refer to a rechargeable battery that supplies electric energy to an automobile. These lead-acid batteries have a high current and surge capability, making them ideal for starting internal combustion engines. It boosts vehicle performance by delivering increased longevity, dependability, efficiency, and tolerance. Due to their increased cell voltage levels and low cost of production, these batteries are commonly used in substations and power systems.

Automotive Lead Acid Batteries Global Market Report 2024 from The Business Research Company covers the following information:
• Market size data for the forecast period: Historical and Future
•Macroeconomic factors affecting the market in the short and long run
•Analysis of the macro and micro economic factors that have affected the market in the past five years
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

An overview of the global automotive lead acid batteries market report covering trends, opportunities, strategies, and more
The Automotive Lead Acid Batteries Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on automotive lead acid batteries market size, automotive lead acid batteries market drivers and trends, automotive lead acid batteries market major players and automotive lead acid batteries market growth across geographies. This report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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