North America Automotive Lead Acid Battery Market share and growth factors impact analysis 2022 – 2030
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.
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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.
MARKET INTRODUCTION
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.
List of Companies Profiled in the North America Automotive Lead Acid Battery Market 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
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Key Segmentation:
North America Automotive Lead Acid Battery Market – By Product
• SLI
• Micro Hybrid Batteries
North America Automotive Lead Acid Battery Market – By Type
• Flooded
• Enhanced Flooded
• VRLA
North America Automotive Lead Acid Battery Market – By End User
• Passenger Cars
• LCV
• M&HCV
North America Automotive Lead Acid Battery Market – By Country
• US
• Canada
• Mexico
Table of Contents
Report Overview: It includes the objectives and scope of the study and gives highlights of key market segments and players covered. It also includes years considered for the research study.
Executive Summary: It covers industry trends with high focus on market use cases and top market trends, market size by regions, and market size. It also covers market share and growth rate by regions.
Key Players: Here, the report concentrates on mergers and acquisitions, expansions, analysis of key players, establishment date of companies, and areas served, manufacturing base, and revenue of key players.
Breakdown by Product and Application: This section provides details about market size by product and application.
Regional Analysis: All of the regions and countries analyzed in the report are studied on the basis of market size by product and application, key players, and market forecast.
Profiles of International Players: Here, players are evaluated on the basis of their gross margin, price, sales, revenue, business, products, and other company details.
Market Dynamics: It includes supply chain analysis, analysis of regional marketing, challenges, opportunities, and drivers analyzed in the report.
Key Findings of the Research Study
Appendix: It includes details about research and methodology approach, research methodology, data sources, authors of the study, and a disclaimer.
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