The global automotive lead acid batteries market is projected to grow from USD 34.30 Billion in 2015 to USD 45.03 billion by 2021, at a CAGR of 4.8% from 2016 to 2021. The global automotive lead acid batteries market is driven by strong growth in the demand from the automotive sector. Product innovations and technological developments for lead acid batteries are expected to create investment opportunities in the market.
In 2015, Johnson Controls Inc. (U.S.) was one of the leading manufacturers of automotive lead acid batteries, followed by Exide Technologies Inc. (U.S.). Johnson Controls Inc. has an extensive product portfolio in the market across the U.S., Europe, Germany, Mexico, and RoW.
Johnson Controls Inc. majorly focuses on the automotive sector and provides flooded batteries, enhanced flooded batteries, and absorbent glass mat batteries. The company expanded its automotive lead acid batteries business in the international market through acquisitions. It provides an extensive range of lead acid batteries for all types of applications, such as, automotive, marine, golf car, lawn & garden, and heavy duty trucks. For example, Johnson Controls Inc. expanded its automotive battery business in Northeast China by building a new automotive battery manufacturing facility in the city of Shenyang. This expansion will help the company expand its footprint in China and fulfil the rising demand from the worlds largest market for new vehicles.
GS Yuasa Corporation (Japan), another major player operating in the automotive lead acid batteries market has various products in its lead acid batteries business in the market through its focus on research and development. For instance, in June, GS Yuasa Battery Ltd., a consolidated subsidiary of GS Yuasa Corporation, introduced batteries for hybrid vehicles manufactured by Toyota. The company is planning to supply these lead acid auxiliary batteries to various end-users, owing to an increased demand. The company’s operating income margin increased from USD 181.7 million to USD 191.3 million from 2014 to 2015. GS Yuasa Corporation also focuses on adding new and technologically-advanced products, which reflects through its extensive lead acid batteries portfolio.
Automotive Lead Acid Batteries Market by Product (SLI, and Micro Hybrid Batteries), Type (Flooded, Enhanced Flooded, and VRLA), Customer Segment (OEM, Aftermarket), End-User (Passenger Car, LCVs/HCVs, Two Wheeler, Three Wheeles) - Global Forecast to 2021
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