Asia Pacific Automotive Lead Acid Battery Market
No. of Pages: 137 | Report Code: TIPRE00023553 | Category: Energy and Power
No. of Pages: 137 | Report Code: TIPRE00023553 | Category: Energy and Power
As a global producer of automotive lead-acid batteries, APAC is expected to be one of the fastest-growing markets. Automotive lead-acid batteries are in high demand in countries such as Japan, China, India, Australia, among others. The development of automotive lead-acid batteries is projected to be fueled by the selling of automobiles in China and India. The automotive lead-acid batteries market in APAC is expected to rise due to the rising population, rapid urbanization, and investments in automotive industries. APAC countries are in the process of accepting electric and environmentally friendly mobility as a prominent means of transportation in the future. However, to achieve this, strong cooperation between public and private parties is needed, as well as the development of a long-term plan tailored to and market's unique circumstances. The automotive industry in many of the APAC countries is experiencing a virtual transformation due to the steady penetration of electric vehicles. As a result of the increasing popularity of electric cars, the market for lead-acid batteries is expected to accelerate.
The government of APAC is taking possible steps to mitigate the ill-effects of COVID-19. China and India are leading manufacturing hubs in the region, and they are also among the severely affected countries by the disease in APAC. India, Japan, and South Korea, among others, are still combating the virus, which is a main reason of the slowdown in the growth of the automotive lead acid batteries market in the region. China is responsible for more than 80% of the global auto supply chain. Hubei, for example, is one of China's four main car production centers, with over 100 automotive suppliers. Hubei's automotive plants were closed until March 11 and are now slowly reopening. However, China has been able to stabilize its spread of COVID-19, and industries are up and running, which would reflect in the stabilization of the automotive lead acid batteries market in APAC in the coming years.
Strategic insights for the Asia Pacific Automotive Lead Acid Battery provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 10,256.23 Million |
| Market Size by 2028 | US$ 11,914.47 Million |
| Global CAGR (2021 - 2028) | 2.2% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Product
|
| Regions and Countries Covered | Asia-Pacific
|
| Market leaders and key company profiles |
The geographic scope of the Asia Pacific Automotive Lead Acid Battery refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
The automotive lead acid battery market in APAC is expected to grow from US$ 10,256.23 million in 2021 to US$ 11,914.47 million by 2028; it is estimated to grow at a CAGR of 2.2% from 2021 to 2028. Since the past few years, the consumer behavior towards intercity and intracity transit has transformed to a newer level. With increasing disposable income of individuals and stable economic structure of countries, the production of vehicles has boosted exponentially. With rising demand for cars, the production has further got impacted positively which is creating demand for batteries including lead acid batteries. In 2020, China, India, and South Korea have produced massive number of cars and commercial vehicles within their boundaries. Such massive production of automobile would continue to impact the demand for car batteries including lead acid batteries. Furthermore, factors such as on-demand mobility, arrival of ultra-batteries in energy storage space, and development of advanced energy storage modules for the automobile sector is also driving the production of automotive, and so the demand for lead acid batteries.
The APAC automotive lead acid battery market is segmented based on product, type, and end user. Based on product, the APAC automotive lead acid battery market is segmented into SLI, micro hybrid batteries. The SLI segment held the largest market share in 2020 Based on type, APAC automotive lead acid battery market is segmented into flooded, enhanced flooded, and VRLA. The flooded segment dominated the market. Based on end user, the market is segmented into passenger cars, LCV, M&HCV. The passenger cars segment dominated the end user segment in the market.
A few major primary and secondary sources referred to for preparing this report on the automotive lead acid battery market in APAC are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Clarios; CSB Energy Technology Co., Ltd.; East Penn Manufacturing Company; EnerSys; Exide Industries Limited; GS Yuasa International Ltd.; Johnson Controls, Inc.; KOYO BATTERY CO., LTD.; leoch International Technology Limited Inc; and Panasonic Corporation.
The Asia Pacific Automotive Lead Acid Battery Market is valued at US$ 10,256.23 Million in 2021, it is projected to reach US$ 11,914.47 Million by 2028.
As per our report Asia Pacific Automotive Lead Acid Battery Market, the market size is valued at US$ 10,256.23 Million in 2021, projecting it to reach US$ 11,914.47 Million by 2028. This translates to a CAGR of approximately 2.2% during the forecast period.
The Asia Pacific Automotive Lead Acid Battery Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Asia Pacific Automotive Lead Acid Battery Market report:
The Asia Pacific Automotive Lead Acid Battery Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Asia Pacific Automotive Lead Acid Battery Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Asia Pacific Automotive Lead Acid Battery Market value chain can benefit from the information contained in a comprehensive market report.
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