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 industry is experiencing significant technological advancements, opening up new opportunities for component development, particularly in batteries. For example, in India, a landmark regulation effective April 1, 2020, mandates that all automotive manufacturers can only produce, sell, and register BSVI-compliant vehicles. This shift, combined with increasingly stringent vehicle emission regulations, is expected to drive manufacturers towards micro-hybrid engine architectures, leading to a higher demand for more complex and advanced car batteries.
European Automotive Industry and Battery Market
The automotive industry is a cornerstone of Europe's economic growth. The EU stands as a global leader in automobile production and is the largest private investor in research and development (R&D) within the sector, contributing 29% of total spending. The European Commission actively promotes global technical harmonization and provides R&D funding to boost the EU automotive industry's productivity and maintain its technological edge worldwide.
A primary driver for the automotive lead-acid battery market in Europe is the expanding automotive industry itself. As of October 2019, Europe had over 260 million passenger vehicles, 4 million trucks, and 30 million buses on its roads. Approximately 15 million new cars and 200,000-220,000 new trucks are introduced annually, all relying on lead-acid batteries for starting, lighting, and ignition (SLI). European vehicles are renowned globally for their sophisticated architecture and higher-than-average electronics content. This necessitates robust batteries, ranging from 40Ah in A-segment cars to 100Ah in premium C and D-segment vehicles, thereby fueling the demand for lead-acid batteries.
Furthermore, in 2019, the European electric vehicle (EV) industry witnessed faster growth compared to other international markets, driven by favorable government policies and evolving consumer preferences. These factors are also anticipated to propel the demand for lead-acid batteries in the region.
Impact of COVID-19 on the European Automotive Battery Market
The COVID-19 pandemic significantly impacted the European automotive sector. Russia, in particular, was severely affected, reporting around 4.49 million cases by March 2021. European countries implemented drastic measures, including travel restrictions and partial border closures, leading to the shutdown of factories 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 spread of the infection and government-imposed restrictions. This significantly hindered the growth of the automotive lead-acid battery market in Europe during 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
