The automotive lead acid battery market in Europe is expected to grow from US$ 4,296.50 million in 2021 to US$ 5,732.39 million by 2028; it is estimated to grow at a CAGR of 4.2% from 2021 to 2028.
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The automotive sector is experiencing significant technological advancements, creating new opportunities for component development, particularly in batteries. In India, for example, a landmark mandate effective April 1, 2020, requires all vehicle manufacturers (two-wheelers and four-wheelers) to produce, sell, and register only BSVI-compliant vehicles. This, coupled with increasingly stringent emission regulations, is expected to drive automotive manufacturers toward micro-hybrid engine architecture, consequently increasing demand for sophisticated and advanced car batteries.
European Automotive Battery Market Dynamics
The automotive industry is a cornerstone of Europe's economy, with the EU being a leading global vehicle producer. It's also the largest private investor in Research and Development (R&D), accounting for 29% of total spending. The European Commission actively promotes global technical harmonization and funds R&D to boost the EU automotive industry's productivity and maintain its technological leadership worldwide.
A primary driver for the European lead-acid battery market is the robust automotive industry itself. As of October 2019, Europe had over 260 million passenger vehicles, 4 million trucks, and 30 million buses on its roads. Annually, approximately 15 million new cars and 200,000-220,000 new trucks are introduced, all relying on lead-acid batteries for starting, lighting, and ignition. European vehicles are renowned for their advanced architecture and higher-than-average electronics content, necessitating larger batteries that range from 40Ah in A-segment cars to 100Ah in premium C&D segment vehicles. These factors contribute to the expanding lead-acid battery market.
Furthermore, 2019 saw rapid growth in the European electric vehicle industry, outpacing other international markets due to supportive government policies and evolving consumer preferences. This surge in electric vehicle adoption is also expected to bolster the demand for lead-acid batteries in the region.
However, the COVID-19 pandemic significantly impacted the European automotive market. Russia, the hardest-hit country in Europe, reported approximately 4.49 million cases as of March 2021. European nations implemented drastic measures, including travel restrictions and partial border closures, leading to factory shutdowns and a decline in vehicle production. In the first half of 2020 alone, the region experienced a production loss of 3.6 million vehicles, valued at Euro 100 billion, due to the pandemic and related government restrictions. This significantly hindered the growth of the automotive lead-acid battery market in Europe in 2020.
Europe Automotive Lead Acid Battery MarketSegmentation
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
Europe Automotive Lead Acid Battery Market - 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
Europe Automotive Lead Acid Battery Strategic Insights
Strategic insights for the Europe Automotive Lead Acid Battery provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
Europe Automotive Lead Acid Battery Regional Insights
The geographic scope of the Europe Automotive Lead Acid Battery refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
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Author’s Bio:
Suryakant Gadekar
Senior Market Research Expert at Business Market Insights
