Automotive Automotive Lead Acid Battery Market | Page 2

“Automotive Lead Acid Battery Market: Global Demand,
Growth Analysis & Opportunity Outlook 2023”
The global automotive lead acid battery market is segmented into battery
type such as flooded battery, enhanced flooded battery (EFB) and
absorbent glass mat (AGM) battery. Flooded battery segment is envisioned
to grow at significant pace during the forecast period. Flooded batteries are
highly used in solar electric applications and other stand-alone alternative
energy system. Furthermore, longer life, and least cost amp per hour are
some of the major benefits of flooded battery which are likely to foster the
growth of this segment during the forecast period.
Global Automotive Lead Acid Battery Market is expected to flourish
at 4.2% CAGR over the forecast period. Moreover, the global automotive
lead acid battery market is expected to reach USD 18.0 Billion by the end of
2023. Rising sales of vehicles and increasing environmental concerns are
fuelling the growth of global automotive lead acid battery market.
Moreover, inadequate oil prices coupled with rising demand for renewable
energy are likely to escalate the growth of market over the forecast period.
The Asia Pacific automotive lead acid battery market accounted for more
than 30% share of overall automotive lead acid battery market in 2015.
Increasing disposable income of the consumers in countries such as India
and China has increased the sales of two wheelers in these countries.
Furthermore, rising sales of bikes is a key factor which is likely to fuel the
demand for automotive lead acid batteries in near future.
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Consumer’s Inclination towards Electric Vehicles
The demand for automotive lead acid battery is expected to rise in near
future due to rising sales of electric vehicles all across the globe. Further,
low cost of automotive lead acid battery and reliable performance are two
factors which are favoring the global automotive lead acid battery market to
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