Report : Middle East and Africa 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)
Flooded Segment to Dominate MEA Automotive Lead Acid Battery Market during 2020–2028
According to a new market research study on “MEA 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$ 260.35 million by 2028 from 186.46 US$ million in 2021. The market is estimated to grow at a CAGR of 4.9% from 2021 to 2028. The report provides trends prevailing in the MEA automotive lead acid battery market along with the drivers and restraints pertaining to the market growth. Progress of BSVI-compliant vehicles is the major factor driving the growth of the MEA automotive lead acid battery market. However, issues associated with the advent of electric vehicles hinders the growth of MEA automotive lead acid battery market
The MEA automotive lead acid battery market is segmented based on product, type, and end user. Based on product, the MEA 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, MEA automotive lead acid battery market is segmented into flooded, enhanced flooded, and VRLA. The 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.
South Africa has reported the largest COVID-19 cases in the MEA, followed by Iran and other countries. Industries across the region had come to a halt in the initial phases of the pandemic; however, with the gradual reopening of economies under restrictions and social distancing guidelines, industries are implementing and working on the changes needed to meet the customer's distinct demands in best possible ways. In April 2020, the number of preowned online car listings in the UAE dropped by ~50%. Since the factories are unable to resume operations due low requirements, the automotive sector is waiting for the situation to return to normalcy and other industries to restart their work processes, Thus, the abovementioned factors are limiting the growth of the automotive lead acid batteries market in the MEA.
Clarios; EnerSys; Exide Industries Limited; Johnson Controls, Inc.; and Panasonic Corporation are among the leading companies in the MEA 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, Panasonic Corporation had launched a range of valve-regulated 12V lead-acid batteries. This replaced its LC-R range of 26 models. The VRLA batteries called the “New-R” series, are suitable for applications such as emergency lights, medical equipment, wind turbines, and electric wheelchairs.
The report segments the MEA Automotive Lead Acid Battery Market follows:
MEA Automotive Lead Acid Battery Market – By Product
- Micro Hybrid Batteries
MEA Automotive Lead Acid Battery Market – By Type
- Enhanced Flooded
MEA Automotive Lead Acid Battery Market – By End User
- Passenger Cars
MEA Automotive Lead Acid Battery Market – By Country
- South Africa
- Rest of MEA
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