Recently published research from Markets and Markets, "Global Battery Market - Industry Trends & Forecast to 2021", is now available at Fast Market Research
[ClickPress, Tue May 03 2016] 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
"Increased power requirement, stringent norms and need of ecofriendly transportation has changed the demand for batteries".
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.
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"Lead-Acid batteries: Largest market size"
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
"Asia-Oceania: Highest growing market for batteries"
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 II 29%, 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.
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