Global Automotive Battery Aftermarket Gains with Multiplying Electrical Accessories in Vehicles

Published Date : Dec 19, 2016

ALBANY, NY, Dec 19, 2016 - The report, titled “Global Automotive Battery Aftermarket 2016–2020” has been prepared after a thorough reports of various facets of the market. It calculates the current size of the market by factoring in sales figures of the different vehicles such as passenger cars, light commercial vehicles, and medium and heavy commercial vehicles. Based on all such factors, the report finds that the global automotive battery aftermarket would likely expand at a CAGR of 5.61% during the period from 2016 to 2020. 

With enhanced technologies being unveiled every now and then in the burgeoning global automotive market, electrical accessories fitted in vehicles are multiplying fast. This has necessitated the use of more powerful batteries to operate them, which in turn has bolstered an aftermarket where consumers can replace parts such as batteries. Besides this, the global automotive battery aftermarket is also being driven by the many limitations and short life span of lead-acid batteries, which were the first rechargeable batteries meant for commercial use. They are still used due to their strong performance and price on cost-per-watt basis. Another factor filliping the market is the rising traffic congestions everywhere that drains out batteries, leading to their reduced lifecycles and swift replacements. 

Countering the growth in the market are supercapacitors that are increasingly superseding lead acid batteries with low power density and reduced ability to retain energy, leading to their material damage. Rise in fake automotive products is also hampering the growth of the market, finds the report. It also observes the growing trend of adopting absorbent glass mat (AGM) batteries, which is technology-wise superior to lead-acid flooded battery, and thereby more efficient with a longer lifespan. 

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Having shed light on the market growth drivers, restraints, and trends, the report goes on to segment the global automotive battery aftermarket by the types of vehicles into passenger cas, light commercial vehicles, and medium and heavy commercial vehicles. It studies each of the segments in great detail to find out their current contribution and share in revenue and future prospects. Geographically, the report divides the market into the Americas, Europe, and Asia Pacific. It furnishes information on the market share of each region and their possibility for growth in the near future. 

To comprehend the current competitive landscape in the market, the report leverages analytical tools such as Porter’s Five Forces, which studies the effect of supplier power, buyer power, competitive rivalry, threat of substitution, and threat of new entry. Some of the big names in the market that have been listed in the report are Johnson Controls, Panasonic, Exide Technologies, and Robert Bosch. Among them, Johnson Controls, Panasonic, and Exide Technologies dominate the market. 

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