Report : Europe Automotive Lead Acid Battery Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Product (SLI and Micro Hybrid Batteries), Type (Flooded, Enhanced Flooded, and VRLA), and End User (Passenger Cars, LCV, and M&HCV)
Enhanced Flooded Segment to Dominate Europe Automotive Lead Acid Battery Market during 2020–2028
According to a new market research study on “Europe Automotive Lead Acid Battery Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Product, Type, and End User” is expected to reach US$ 5,732.39 million by 2028 from 4,296.50 US$ million in 2021. The market is estimated to grow at a CAGR of 4.2% from 2021 to 2028. The report provides trends prevailing in the Europe automotive lead acid battery market along with the drivers and restraints pertaining to the market growth. Surge in manufacturing of cars and commercial vehicles is the major factor driving the growth of the Europe automotive lead acid battery market. However, issues associated with electric vehicles getting popular in Europe hinders the growth of Europe automotive lead acid battery market
The Europe automotive lead acid battery market is segmented based on product, type, and end user. Based on product, the Europe automotive lead acid battery market is segmented into SLI, micro hybrid batteries. The SLI segment held the largest market share in 2020. Based on type, Europe automotive lead acid battery market is segmented into flooded, enhanced flooded, and VRLA. The enhanced flooded segment dominated the market. Based on end user, the market is segmented into passenger cars, LCV, M&HCV. The passenger cars segment dominated the end user segment in the market.
In Europe, Russia is the hardest-hit country by the COVID-19 outbreak, and it has reported ~4.49 million cases as of March 2021. European countries have implemented drastic measures and travel restrictions, including partially closing their borders. Vehicle production has declined due to the shutdown of factories. The region experienced the production loss of 3.6 million vehicles worth Euro 100 billion in the first half of 2020 owing to the infection spread and the related restrictions imposed by the respective governments. This is led to the hindered growth of the automotive lead acid batteries market in Europe in 2020.
Clarios; CSB Energy Technology Co., Ltd.; East Penn Manufacturing Company; EnerSys; Exide Industries Limited; GS Yuasa International Ltd.; Johnson Controls, Inc.; leoch International Technology Limited Inc; and Panasonic Corporation are among the leading companies in the Europe automotive lead acid battery market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, GS Yuasa Corporation announced the launch of its SNS-TN series of valve-regulated stationary lead-acid batteries. SNS-TN series batteries’ enhanced durability makes them ideal for applications with a high discharge frequency as well as for applications requiring the float charge*1 feature delivered by GS Yuasa’s previous long-life MSE*2 batteries in the original SNS series.
The report segments the Europe Automotive Lead Acid Battery Market follows:
Europe Automotive Lead Acid Battery Market – By Product
- SLI
- Micro Hybrid Batteries
Europe Automotive Lead Acid Battery Market – By Type
- Flooded
- Enhanced Flooded
- VRLA
Europe Automotive Lead Acid Battery Market – By End User
- Passenger Cars
- LCV
- M&HCV
Europe Automotive Lead Acid Battery Market – By Country
- France
- Germany
- Italy
- UK
- Russia
- Rest of Europe
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