Market Revenue Automotive Battery Industry Status and Prospect

Automotive Battery Industry Status and Prospect, Market
Overview From 2014-2025
“Automotive Battery Market is expected to reach USD 95.57 billion by 2025 as
the scope and its applications are rising enormously across the globe.
Automotive Battery is a termed as a rechargeable battery that supplies
electrical current to a motor vehicle to start an engine.”
Global Automotive Battery Market is expected to reach USD 95.57 billion by 2025 as the scope and its
applications are rising enormously across the globe. Automotive Battery is a termed as a rechargeable battery
that supplies electrical current to a motor vehicle to start an engine. Alternator supply power for the cars
electrical system. The automotive battery industry is expected to grow at a CAGR of 7.9% in the forecast period.
Rising number of the electric cars on the road, high investment in research and development sector, and rising
government initiative to reduce carbon emission are documented as major factors of Automotive Battery
Market that are estimated to enhance the growth in the years to come. Also, vast growth in automotive sector,
rising consumer preference for pollution free cars, and high demand from developing countries are another
factors estimated to grow in coming years. Automotive Battery Market is segmented based on vehicle type,
battery type, and region.
Commercial vehicles, passenger vehicles, two wheelers, electric vehicles, and others are the vehicle types that
could be explored in Automotive Battery in the future period. Commercial vehicles may be heavy commercial
vehicles and light commercial vehicles. Passenger vehicle sector accounted for the largest market share of
Automotive Battery and is estimated to lead the overall market in the coming years. Electric vehicles include
plug-in hybrid electric vehicle (PHEV) and battery electric vehicle (BEV). In 2016, China sold more than 40% of
the total electric cars. However, the electric vehicle sector is estimated to grow at fastest pace in the coming
years.
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