PUNE, India, April 18, 2016 /PRNewswire/ --
The report "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", The global market is projected to grow at a CAGR of 4.15% from 2016 to 2021, to reach a market size of USD 17.26 Billion by 2021.
(Logo: http://photos.prnewswire.com/prnh/20160303/792302 )
Browse 123 market data Tables and 62 Figures spread through 177 Pages and in-depth TOC on "Global Battery Market"
Early buyers will receive 10% customization on this report.
The major factors behind the growth of the Global Battery Market are new hybrid and electric automotive models from OEMs, fuel savings and government incentives for cleaner transportation, growing integration of electronics and growing demand for transportation.
Growth in Transportation needs: Key driver for Battery market
The transportation industry across the globe has grown significantly since the past few years. Increasing population and subsequent change in demand for vehicle has increased. China is the leading carmaker in the world with a 26% share in worldwide production of cars. Sales for cars have risen from 23.5 million in 2014 to 24.6 million in 2015, in China. Countries like India and the U.S. are also booming markets for vehicles. These are the main reasons behind the blooming market for batteries. Increasing population and economic growth are responsible for increasing automobile sales as well as sales of other ways of transportation such as marine, two wheelers and aviation. Increased traffic of international transportation has led to increased demand for marine and aviation transport which has led to the growth of for the Global Battery Market.
This growth can also be attributed to rapid urbanization, increased per capita income, and technological advancements from established players in the industry. As a collective effect of the points mentioned above, there is an estimated growth in transportation activities around the globe, thus, resulting in the growth of the Global Battery Market.
Electric Powered Vehicles: The rising trend
The use of electric power in vehicle as a fuel is new trend in last few years. Environmental changes and scarce oil resources are the driving force behind their increasing adoption. Electric power is cheaper and cleaner than conventional fuels, which helps in reduction of CO2 emissions which are responsible for global warming. Technological advancements in the field of alternative fueled vehicles such as electric vehicles are estimated to present an attractive opportunity for the market players. OEMs such as Tesla Motors and Toyota Motor Company have successfully launched vehicles with electric powertrains owing to an increasing demand for efficient transportation. Governments are also promoting the adoption of alternative fuel vehicles to reduce the dependence on oil imports. This is also a major driver for batteries used in these vehicles.
Booming two wheeler Market in Asia Oceania.
Asia Oceania is the largest market for two wheelers owing to high preference for such vehicles as a mode of transport. Asia includes India and China, two countries with world's largest populations where there is a high demand for two wheelers. Even low income countries like Indonesia have a huge market for two wheelers.
The report covers all the major players in the Global Battery Market that includes companies such as Johnson Controls Inc. (U.S.), Exide Technologies (U.S.), GS Yuasa (Japan), Robert Bosch GmbH (Germany), and Saft Groupe S.A. (France) among others.
The report covers the Global Battery Market, in terms of volume ('000 units) and value (USD million). It explains the qualitative and quantitative aspects of the Global Battery Market based on region, application, and battery type from 2015 to 2021.
Browse related reports:
Steering Market by System (EPS, EHPS & HPS), EPS Type (C-EPS, R-EPS & P-EPS), Component (Hydraulic Pump, Power Steering Column, Steering Wheel Speed Sensor, Electric Motor), Vehicle Type (PC, LCV, HCV & Agriculture Tractors), & by Region - Forecast to 2020
Car Safety Market by System Type (Active Safety & Passive Safety), Safety Regulations by Region (APAC, Europe, North America & Rest of the World), Impact Analysis (Overall Market OEM, Tier I & Consumer) - Trends & Forecast to 2020
MarketsandMarkets is the world's No. 2 firm in terms of annually published premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to a multitude of clients across 8 different industrial verticals. We specialize in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications. Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors.
M&M's flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets. The new included chapters on Methodology and Benchmarking presented with high quality analytical infographics in our reports gives complete visibility of how the numbers have been arrived and defend the accuracy of the numbers.
We at MarketsandMarkets are inspired to help our clients grow by providing apt business insight with our huge market intelligence repository.
Visit MarketsandMarkets Blog @ http://mnmblog.org/market-research/automotive-transportation
Connect with us on LinkedIn @ http://www.linkedin.com/company/marketsandmarkets
Markets and Markets
UNIT no 802, Tower no. 7, SEZ
Magarpatta city, Hadapsar
Pune, Maharashtra 411013, India