Report : South America 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)
Micro Hybrid Batteries Segment is Expected to be Fastest Growing During the Forecast Period for SAM Region
According to a new market research study on “SAM 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$ 951.45 million by 2028 from 687.66 US$ million in 2021. The market is estimated to grow at a CAGR of 4.7% from 2021 to 2028. The report provides trends prevailing in the SAM automotive lead acid battery market along with the drivers and restraints pertaining to the market growth. Increasing popularity of mild hybrid vehicles is the major factor driving the growth of the SAM automotive lead acid battery market. However, issues associated with adoption of electric vehicles in SAM region hinders the growth of SAM automotive lead acid battery market
The SAM automotive lead acid battery market is segmented based on product, type, and end user. Based on product, the SAM 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, SAM 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.
Brazil has recorded the highest number of COVID-19 cases in SAM, followed by Ecuador, Chile, Peru, and Argentina, among others. The governments of SAM countries have taken an array of actions to protect their citizens and contain the virus spread. The region is expected to experience lower export revenues, both from the drop in commodity prices and reduction in export volumes, especially to China, Europe, and the US, which are important trade partners of many of the SAM countries. The containment measures have adversely impacted the manufacturing sector, including automotive manufacturing industry. Major automotive manufacturers have also temporarily closed their production processes as a part of the cost-control measures. Thus, the abovementioned factors have resulted in the low demand for automotive lead acid batteries in SAM, thus affecting the market performance.
Clarios; East Penn Manufacturing Company; EnerSys; Exide Industries Limited; Johnson Controls, Inc.; and Panasonic Corporation are among the leading companies in the SAM 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 SAM Automotive Lead Acid Battery Market follows:
SAM Automotive Lead Acid Battery Market – By Product
- SLI
- Micro Hybrid Batteries
SAM Automotive Lead Acid Battery Market – By Type
- Flooded
- Enhanced Flooded
- VRLA
SAM Automotive Lead Acid Battery Market – By End User
- Passenger Cars
- LCV
- M&HCV
SAM Automotive Lead Acid Battery Market – By Country
- Brazil
- Argentina
- Rest of SAM
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