NEW YORK, May 4, 2016 /PRNewswire/ -- "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.
"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.
Reasons to Buy the Report:
This report contains various levels of analysis, including industry analysis (industry trends, Porter's Five Forces, and PEST analysis), supply chain analysis, and company profiles, which together comprise and discuss the basic views on the emerging and high-growth segments of the battery market, competitive landscape, high-growth regions and countries, government initiatives, and market dynamics such as drivers, restraints, opportunities, and challenges.
The report enables new entrants/smaller firms as well as established firms to understand the market better to help them to acquire a larger market share. Firms purchasing the report could use any one or a combination of the below-mentioned four strategies (market development, product development/innovation, market diversification, and competitive assessment) to strengthen their position in the market.
The report provides insights with reference to the following points:
-Market Development: Comprehensive information about lucrative emerging markets. The report analyzes the global battery market across regions
-Product Development/Innovation: Detailed insights into R&D activities, upcoming technologies, and new product launches in the global battery market
-Market Diversification: Detailed information about untapped markets, investments, new products, and recent developments in the global battery market
-Competitive Assessment: In-depth assessment of strategies, products, and manufacturing capabilities of leading players in the global battery market
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