AUTOMOTIVE LEAD ACID BATTERY MARKET ANALYSIS

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2. AUTOMOTIVE LEAD ACID BATTERY MARKET ANALYSIS • Automotive Lead Acid Battery Market, By Battery Type (Flooded, Enhanced Flooded, AGM), By Sales Channel (OEM and Aftermarket), By Vehicle Type (Passenger car and Light commercial vehicle)and by Geography (North America, Europe, Asia Pacific, and Latin America, Middle East & Africa) - Size, Share, Outlook, and Opportunity Analysis, 2019 - 2027

3. Market Overview • An automotive lead acid battery also referred to as starting, lighting, & ignition (SLI) battery is a rechargeable battery mainly used for igniting a vehicle’s engine and supplying electric current to an automobile. The primary goal of automotive lead acid battery is to provide the starter, which starts the engine. The lead acid battery is comprised of two different types of lead in an acid mixture that perform an electrochemical reaction, converting chemical energy into electric current and leading to the production of voltage in an automobile. Apart from supplying power to run the vehicle, lead acid batteries provide voltage to vehicle accessories such as music player, air conditioner charging plugs, radio, and wipers.  • The global automotive lead acid battery market accounted US$ 24,121.0Mn in terms of value and 259,845.0 Thousand Units in terms of volume in 2019

4. Market Dynamics- Drivers • Increasing research and development activities are expected to drive growth of the global automotive lead acid battery market during the forecast period • Increasing concerns regarding environmental hazards combined with strict regulatory policies imposed by governments across the globe on lead-based products have accelerated the demand for fuel-efficient and durable batteries. To develop efficient batteries, key manufacturers in the automotive battery sector are focused on collaborating with other organizations' research and development activities, in order to develop efficient batteries, while complying with emission standards. For instance, in 2014, Johnson Controls collaborated with the University of Wisconsin–Milwaukee and Wisconsin Energy Institute for commercialization and development of =other energy storage technologies. • Operational and functional advantages offered by lead acid batteries are expected to propel the global automotive lead acid battery market growth over the forecast period • A lead acid battery is one of the most reliable batteries since they are shock and over-charge resistant. The sealing technology used in these batteries ensures that batteries are leak-proof. Moreover, these batteries have longer operational cycles than other types of batteries. Thus, functional and operational advantages offered by lead acid batteries are expected to boost the global automotive lead acid battery market growth over the forecast period. • Growing production of electric and hybrid vehicles is expected to boost the global automotive lead acid battery market growth during the forecast period • The recent past has witnessed significant growth in the production of electric and hybrid vehicles, owing to rising fuel prices and strict emission policies. This, in turn, has increased the demand for lead acid batteries, which function as auxiliary batteries solely for starting, lighting and ignition (SLI), thereby supporting the market growth. • Asia Pacific region dominated the global automotive lead acid battery market in 2019, accounting for 36.2% share in terms of value, followed by Europe, North America, Latin America and MEA respectively.

6. Market Dynamics- Restraints • Fluctuation in pricing of lead acid batteries are expected to hamper the global automotive lead acid battery market growth over the forecast period • The demand for lead acid batteries is majorly affected by volatility in prices of raw materials especially lead. This, in turn, affects revenues of battery manufacturers, reducing profit margins. In the recent past, lead prices have to fluctuate and prices are expected to continue to fluctuate over the forecast period. Thus, these factors are expected to hamper the market growth in the near future. • Strict regulatory policies regarding lead emission are expected to hinder the global automotive lead acid battery market growth over the forecast period • The government of many countries have imposed stringent regulatory policies on emission of lead. For instance, in 2008, the Environmental Protection Agency (EPA) published new lead emissions standards under the National Ambient Air Quality Standards (NAAQS). The new standards mandate reduction of off-site concentration standards for lead in air from 1.5 mg per cubic meter to 0.15 mg per cubic meter. Furthermore, in 2012, the EPA passed the National Emissions Standards for Hazardous Air Pollutants (NESHAP), which affects lead acid recycling facilities..

7. Market OpportunitiesProving cost-efficient and environment-friendly batteries can present lucrative growth opportunitiesSince lead emission is a major challenge for the battery industry due to strict regulations across the globe, manufacturers can provide cost-efficient batteries with a low impact on the environment. Market players can focus on sustainable technologies and can lay emphasis on expanding their consumer base across the globe.Collaborations and partnerships among market players can offer major business opportunitiesKey players in the market can lay emphasis on collaborations, partnerships, and joint ventures with other manufacturers, in order to enhance the market presence and gain competitive advantage. For instance, Johnson Controls entered into a joint venture with The Middle East Battery Company (MEBCOM) to cater to demand from the Middle East lead acid battery market.

9. Market Trends Strategic contracts between suppliers and OEMs is an emerging trend in the market Battery manufacturers such as EnerSys Inc., GS Yuasa, and Johnson Controls are entering into long-term contracts with raw material suppliers in order to ensure a steady supply of raw materials and not be adversely affected by price fluctuations. Furthermore, manufacturers are introducing battery recycling programs to recover new materials and use them for new batteries. This, in turn, is significantly reducing battery cost and dependence on suppliers up to a certain extent. Rising sales of passenger cars are expected to boost the demand for automotive lead acid batteries Passenger cars have witnessed significant demand in the recent past, owing to rising disposable income, increased availability of affordable mid-sized models, and evolving transportation needs. This high demand has been specifically noticed in Asia Pacific and Middle East regions. Furthermore, there is increasing demand for micro-hybrid and fully electric vehicles though the demand for lead acid batteries for IC engine-based vehicles is significantly higher in the market. Segment information: In global automotive lead acid battery market, by vehicle type, the Passenger Car sub-segment dominated the global market in 2019, accounting for 75.6% share in terms of value, followed by LCV.

11. System Integration: • System integrators are trusted advisors in this value chain who have expertise in security sub-systems. System integrators delivers the required PSIM solutions to the customers directly or from vendors to the businesses. System integrators analyze the existing system environment to identify the integration requirements and evaluate security operations to identify strategic plans, procedures, and security policies for the deployment of complete situation management solutions. System integrators or third-party vendors deploy PSIM solutions from vendors to their customers. Similarly, system integrators can further take solutions from other system integrators or third-party vendors for the deployment of PSIM. • Application/ End-users: • For deployment, end-users analyze the security requirements for new solutions or integrated solutions for their existing systems, and implement PSIM solutions by contacting PSIM vendors directly or through system integrators or third-party vendors • Between the forward and backward integration scenarios, the forward scenario is often adopted for the implementation of PSIM solutions across various industries.

12. Competitive Section Key companies operating in the global automotive lead acid battery market are Exide Technologies, Enersys Inc., FIAMM S.p.A, Johnson Controls Inc., Exide Industries, GS Yuasa Corporation, CSB Battery Technologies, Panasonic Corporation, East Penn Manufacturing Company, and Leoch International Technology Limited.  Key Developments Key players operating in the market are focused on product launches, in order to enhance the product portfolio. For instance, in January 2018, Exide Industries introduced a new range of automotive batteries ‘Epiq’ in the Indian market. Major companies in the market are involved in partnerships and collaborations, in order to gain a competitive advantage in the market. For instance, in November 2018, Johnson Controls Inc. partnered with Toshiba Infrastructure Systems & Solutions Corporation to deliver low-voltage lithium-ion solutions, in order to meet demands from automakers.

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