DUBLIN–(BUSINESS WIRE)–The “North 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)” report has been added to ResearchAndMarkets.com’s offering.
SLI Segment to Dominate North America Automotive Lead Acid Battery Market during 2020-2028.
North America Automotive Lead Acid Battery market is estimated to grow at a CAGR of 3.9% from 2021 to 2028.
Growing adoption of mild hybrid vehicles is the major factor driving the growth of the North America automotive lead acid battery market. However, issues associated with high adoption of electric vehicles in North America hinders the growth of North America automotive lead acid battery market.
The North America automotive lead acid battery market is segmented based on product, type, and End-user. Based on product, the North America 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, North America automotive lead acid battery market is segmented into flooded, enhanced flooded, and VRLA. The flooded lead acid battery 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.
The US is the worst-hit country by the COVID-19 pandemic in North America, with ~30.5 million cases as of March 2021. The continuous growth of infected individuals has led the government to impose lockdown across the nation’s borders.
Majority of the manufacturing plants are shut down, municipalities are functioning with lower strength, and the automotive and semiconductor industries are at a halt, which is negatively impacting the automotive lead acid batteries market. Canada and Mexico have reported less cases than the US.
However, the manufacturing plants, automotive industry, and several other businesses are functioning slowly, which is negatively impacting on the automotive lead acid batteries market. The short-term effect of the COVID-19 pandemic would not affect the recovery of overall sales in the automotive industry in 2021, mainly due to the continued promotion of passenger vehicles by various companies in the region.
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 North America 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.
Key Market Dynamics
Key Market Drivers
- Growing Adoption of Mild Hybrid Vehicles
- Rising Production of Cars and Commercial Vehicles
Key Market Restraints
- High Adoption of Electric Vehicles in North America
Key Market Opportunities
- Upcoming of 12-volt lead-acid battery for vehicle technology
Future Trends
- Emergence of BSVI-Compliant Vehicles
Company Profiles
- 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
- Panasonic Corporation
Scope of the Report
By Product
- SLI
- Micro Hybrid Batteries
North America Automotive Lead Acid Battery Market – By Type
- Flooded
- Enhanced Flooded
- VRLA
North America Automotive Lead Acid Battery Market – By End-user
- Passenger Cars
- LCV
- M&HCV
North America Automotive Lead Acid Battery Market – By Country
- US
- Canada
- Mexico
For more information about this report visit https://www.researchandmarkets.com/r/vkcl4p.
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