The market for automotive battery is estimated to witness a growth of over US$ 54.5 billion globally by the end of 2022.
Albany, NY -- (SBWIRE) -- 11/24/2017 -- A new study report titled "Automotive Battery Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 – 2022" has been submitted to the vast database of Market Research Reports Search Engine (MRRSE) that focuses on the entire global automotive battery market. The automobile manufacturers observe innovation and beginning of battery technologies that is increasing rapidly with a technology-neutral standpoint.
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As per the report, consumers are beginning to prefer hybrids and electric vehicles so the manufacturers in automotive battery market have started focusing primarily on enhanced capacity levels of individual use batteries and also developing new technologies for faster recharging and guaranteed stabilization.
As the industry experts envisage global growth of the automotive battery market, the report analyzes basics of the market, historical trends and forecasts the market from 2017 to 2022. According to the report, the market for automotive battery is estimated to witness a growth of over US$ 54.5 billion globally by the end of 2022.
The report begins with a section for executive summary that provides key information such as market value and CAGR. The next is for market overview that covers basics of the market such as introduction, historical market size from 2012 to 2016, forecasted market size from 2017 to 2022 including year-on-year growth, market dynamics, technology roadmap, automotive production & sales by region to mention a few.
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For insightful forecast, the report has segmented the market of automotive battery and shares analysis by chemical composition type, vehicle type, sales channel and region. The segment for chemical composition type is sub-segmented into nickel-metal hydride (Ni-MH), lithium ion (li-ion), small sealed lead acid (SSLA) and nickel-cadmium (Ni-Cd). Out of the segments mentioned, the chemical composition type batteries are in high demand and being adapted by most automobile manufacturers, as per the report. The chemicals filled inside of chemical composition type batteries play a crucial role in the performance of battery. The battery performance is measured in terms of engine ignition, electrical functioning of vehicle and power efficiency. According to the report, the small sealed lead acid (SSLA) category of chemical composition type is the most popular in the global automotive battery market and estimated to hold around 38 percent of total revenue of global market with 6.7% of CAGR. Similarly, other segments have been categorized and analysis has been shared for all the segments in terms of market size, historical and forecast both from 2012 to 2022 and comparison of revenue and year-on-year growth by region.
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