The global automotive battery market is expected to grow at a CAGR of 6.3% during2012–2017 and surpassUS $41 billion by 2017.Growth in automobile sales anda rising vehicle penetration rate per thousand in Asia Pacific (APAC) and the Rest of the World (ROW) countries are forecast to drive the automotive battery market for family and passenger vehicles.
Lucintel, a leading global Management Consulting and market research firm, has analyzed the global automotive battery marketand presents its findings in “Growth Opportunities in Global Automotive Battery Market 2012–2017: Trends, Forecast, and Market Share Analysis .”
As the study indicates, the cost of nickel and lead has fluctuated tremendously over the last five years. The price of lead acid batteries for business-to-business sales depends largely on the daily price of lead on the commodities market. For nickel-based batteries, pricesare determined based on demand and supply of the batteries themselves. Such factors prove to be challengesto increasing growth of automotive batteries and allied industries.Lucintel’s research indicates that government credit policies and investments in nanotechnologies to make efficient use of lithium batteries are among the major drivers that should boost the electric vehicle battery market.
The ROWmarket is expected to witness the highest growth rate followed by the European market. Such high growth is likely because of the introduction of more battery electric vehicles and hybrid electric vehicles in these countries, with replacement markets for lead acid and Nickel-Metal Hydride(Ni-MH) batteries. The North American and APAC markets are expected to lag due to the negative impacts of economic slowdown and stringent recycling policies.
By value, Ni-MH is expected to experience thehighest growth, followed by lead-acid during 2012-2017. Lead-acid is expected to remain the choicefor starting, lighting, and ignitionfunctions in automobiles. Lithium-ion and Ni-MH are anticipated to grow in automobiles and electric vehicles application.
The report, which provides trend scenarios and forecast statistics for 2012–2017, details industry drivers and challenges; discusses various battery properties, and profiles major battery manufacturers, also describes battery manufacturing processes.
For a detailed table of contents and pricing information on this timely, insightful report, contact Lucintel at +1-972-636-5056 or via email at helpdesk@lucintel.com. Lucintel provides cutting-edge decision support services that facilitate critical decisions with greater speed, insight, and cost efficiency. To learn more, visit www.lucintel.com.