Market Introduction
SAM automotive industry is booming, due to increased credit supply, economic prosperity, and low interest rates. Estimates say that the Latin American automotive industry exported 5.72 million units in 2019, up 4.3 percent year over year. The revival of the Brazilian economy and the strong success of the SUV segment are largely responsible for the industry's growth; the SUV segment is expected to account for 25.4 percent of the market following the launch of new models and restyling. As a result of the region's rising vehicle production, demand for lead acid batteries will increase.
Brazil's automobile market is one of the most dynamic in SAM, as the nation has established itself as a major country in the global automotive and auto parts markets. The nation has attracted the attention of some of the world's leading automobile companies in recent decades, with many of these companies establishing manufacturing facilities in the country. As a result, the demand for lead acid batteries grows in tandem with the number of vehicles produced, resulting in the growth of the lead acid battery 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.
Market Overview and Dynamics
The automotive lead acid battery market in SAM is expected to grow from US$ 687.66 million in 2021 to US$ 951.45 million by 2028; it is estimated to grow at a CAGR of 4.7% from 2021 to 2028. Since the past few years, the consumer behavior towards intercity and intracity transit has transformed to a newer level. With increasing disposable income of individuals and stable economic structure of countries, the production of vehicles has boosted exponentially. With rising demand for cars, the production has further got impacted positively which is creating demand for batteries including lead acid batteries. Furthermore, factors such as on-demand mobility, arrival of ultra-batteries in energy storage space, and development of advanced energy storage modules for the automobile sector is also driving the production of automotive, and so the demand for lead acid batteries.
Key Market Segments
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.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the automotive lead acid battery market in SAM are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Clarios; East Penn Manufacturing Company; EnerSys; Exide Industries Limited; Johnson Controls, Inc.; and Panasonic Corporation.
Reasons to buy report
SAM Automotive Lead Acid Battery Market Segmentation
SAM Automotive Lead Acid Battery Market - By Product
SAM Automotive Lead Acid Battery Market - By Type
SAM Automotive Lead Acid Battery Market - By End User
SAM Automotive Lead Acid Battery Market - By Country
SAM Automotive Lead Acid Battery Market - Company Profiles
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 687.66 Million |
| Market Size by 2028 | US$ 951.45 Million |
| CAGR (2021 - 2028) | 4.7% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Product
|
| Regions and Countries Covered |
South and Central America
|
| Market leaders and key company profiles |
|
The South America Automotive Lead Acid Battery Market is valued at US$ 687.66 Million in 2021, it is projected to reach US$ 951.45 Million by 2028.
As per our report South America Automotive Lead Acid Battery Market, the market size is valued at US$ 687.66 Million in 2021, projecting it to reach US$ 951.45 Million by 2028. This translates to a CAGR of approximately 4.7% during the forecast period.
The South America Automotive Lead Acid Battery Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the South America Automotive Lead Acid Battery Market report:
The South America Automotive Lead Acid Battery Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The South America Automotive Lead Acid Battery Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the South America Automotive Lead Acid Battery Market value chain can benefit from the information contained in a comprehensive market report.
Please tell us your area of interest
(Market Segments/ Regions and Countries/ Companies)
E 1803, Panchshil Towers,
Wagholi, Haveli,
Pune - 412207,
Maharashtra, India
US:+16467917070
sales@businessmarketinsights.com
Get Free Sample For South America Automotive Lead Acid Battery Market
