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Automotive Batteries Market Growing Steadily at 4.63% CAGR by 2021 Says a New Research Report at ReportsnReports

Friday, Jul 07, 2017

Automotive batteries market analyst says latest trend gaining momentum in the market is growing demand for AGM batteries. AGM batteries were used in the aircraft in the 1980s. They are perfect for vehicles that are heavily equipped with electrical accessories, such as navigation system; touchscreen infotainment system; and electric parking brakes and technologies, such as start and stop. As there is an increase in the trend of electrical accessories, the popularity of AGM batteries has also grown.

According to the 2017 automotive batteries market report, one of the major drivers for this market is decline in price of automotive batteries for electric vehicles. The size and the price of automotive battery greatly influence the purchasing price of plug-in hybrids and new electric cars, thereby affect its sales. In recent years, the sales of electric vehicles are increasing, leading to the demand for powerful batteries that can cover a longer distance on a single charge. Range anxiety poses a big challenge for the electric vehicles as they struggle to cater to the certain needs of the consumers, such as long-distance travel and fast and easy methods to charge the batteries. Therefore, powerful and cheap batteries are a key to the demand for electric vehicles. Till date, most electric vehicles cannot even cover a distance of 150 miles on a single charge.

The following companies as the key players in the global automotive batteries market: Exide Technologies, Johnson Controls, Panasonic, and Robert Bosch.  Other prominent vendors in the market are: Boston Power, Camel Group, Delphi Automotive, GS Yuasa Corporation, and Hitachi.

Global Automotive Batteries Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the Key vendors operating in this market.

Further, the automotive batteries market report states that one of the major factors hindering the growth of this market is multiple limitations and short life cycle of lead-acid batteries. The lead-acid battery was the first rechargeable battery that was used for commercial applications and is still widely used. There are multiple reasons for its popularity; lead-acid is dependable and inexpensive on a cost-per-watt basis. However, lead-acid is heavy and less durable than the nickel or lithium-based systems. A full discharge causes a permanent depletion of the small amount of the capacity of the battery. The loss of the small capacity of the battery does not have a major impact on the running of the vehicle when the battery is in good operating condition but will have a major impact once the performance drops to half of the nominal capacity.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.

Another related report is Global Automotive Winter Tire Market 2017-2021, the analysts forecast global automotive winter tire market to grow at a CAGR of 4.36% during the period 2017-2021. The following companies as the key players in the global automotive winter tire market: Bridgestone, Continental, Goodyear Tire & Rubber Company, Hankook, Michelin, and Pirelli. Other prominent vendors in the market are: Dunlop, Giti Tire, Nokian Tyres, and Toyo Tire & Rubber Company.

One trend in the market is bio-oil-based formulation in manufacturing process of winter tires. Oils are important raw materials in tire manufacturing and three commonly used oils are paraffinic, aromatic, and naphthenic. Winter tire manufacturers have also begun using environment-friendly raw materials.

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Source:prnewswire.com

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