North America Automotive Lead Acid Battery Market
No. of Pages: 127 | Report Code: TIPRE00023551 | Category: Energy and Power
No. of Pages: 127 | Report Code: TIPRE00023551 | Category: Energy and Power
North America is a major market for lead-acid battery manufacturers. North America has the largest vehicle industry due to the presence of the majority of car manufacturers. Increased passenger car and light commercial vehicle supply and vehicle parc are expected to increase demand. For instance, in 2020, the automobile industry in the United States, delivered almost 14.5 million light vehicle units. This figure represents about 3.4 million cars and over 11 million light truck units sold at retail. Increasing vehicle sales are the primary driver of demand growth, especially in developed economies like the United States and Canada. The rising demand for electric cars and e-bikes, which are being used to boost living standards and raise income levels, are the other major factors affecting lead-acid battery sales in the region. Additionally, the automotive industry's increased research and development efforts to improve battery performance are expected to boost demand growth over the projected period.
The US is the worst-hit country by the COVID-19 pandemic in North America, with ~30.5 million cases as of March 2021. The continuous growth of infected individuals has led the government to impose lockdown across the nation’s borders. Majority of the manufacturing plants are shut down, municipalities are functioning with lower strength, and the automotive and semiconductor industries are at a halt, which is negatively impacting the automotive lead acid batteries market. Canada and Mexico have reported less cases than the US. However, the manufacturing plants, automotive industry, and several other businesses are functioning slowly, which is negatively impacting on the automotive lead acid batteries market. The short-term effect of the COVID-9 pandemic would not affect the recovery of overall sales in the automotive industry in 2021, mainly due to the continued promotion of passenger vehicles by various companies in the region.
Strategic insights for the North America 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$ 3,669.33 Million |
| Market Size by 2028 | US$ 4,809.34 Million |
| Global CAGR (2021 - 2028) | 3.9% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Product
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The geographic scope of the North America 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 North America is expected to grow from US$ 3,669.33 million in 2021 to US$ 4,809.34 million by 2028; it is estimated to grow at a CAGR of 3.9% from 2021 to 2028. At present, the vehicles are becoming more electrified and autonomous, the future of vehicle technology is getting evolved. Companies like Clarios have developed a 12-volt advanced lead-acid battery which would be a part of changing future vehicle technology. The 12-volt battery is important to evolving vehicle technologies and AGM technology is a preferred battery choice. The technology provides higher reliability and better performance for fulfilling rising power demands. Thus, emergence of 12-volt lead acid batteries would be a key enable in promoting the market growth.
The North America automotive lead acid battery market is segmented based on product, type, and end user. Based on product, the North America 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, North America automotive lead acid battery market is segmented into flooded, enhanced flooded, and VRLA. The flooded lead acid battery 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 North America 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.; leoch International Technology Limited Inc; and Panasonic Corporation.
The North America Automotive Lead Acid Battery Market is valued at US$ 3,669.33 Million in 2021, it is projected to reach US$ 4,809.34 Million by 2028.
As per our report North America Automotive Lead Acid Battery Market, the market size is valued at US$ 3,669.33 Million in 2021, projecting it to reach US$ 4,809.34 Million by 2028. This translates to a CAGR of approximately 3.9% during the forecast period.
The North America 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 North America Automotive Lead Acid Battery Market report:
The North America 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 North America Automotive Lead Acid Battery Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the North America Automotive Lead Acid Battery Market value chain can benefit from the information contained in a comprehensive market report.
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