Automotive Battery Plate Market: Introduction
- Demand for automotive batteries is increasing significantly due to the growing electrification trend and rising sale of vehicles, which in turn is fueling the requirement for battery components including plates
- Battery plates are made from stiff mesh grid, which is coated with active material. They function as negative and positive electrodes of the battery, and the end terminals of these plates are connected to the external circuit for charging and discharging purposes.
Key Drivers of Automotive Battery Plate Market
- Consistent rise in per capita GDP has improved the disposable income of the global population, which has led to a rise in the number of vehicles sold every year. Statistics provided by the International Energy Agency state that the sale of automobiles increased at a CAGR of approximately 4% in the last decade. Furthermore, consistent expansion of industries, on-going construction activities, and rise in logistics have led to a rise in sales of commercial vehicles. This rapid increase in sales of automobiles and more number of miles driven per vehicle are propelling the demand for automotive components including batteries from OEMs and in the aftermarket. Thus, a rise in sale of vehicles is fueling the automotive battery plate market across the globe.
- Transportation is a leading cause for a rise in the levels of pollution worldwide. The U.S. Environmental Protection Agency states that transportation emissions contribute 28% of the total greenhouse gases emitted in the country. This has increased awareness about the environment among automakers as well as customers and subsequently, boosted the demand for fuel-efficient vehicles. OEMs are increasingly investing in electrification of their vehicle models to decrease the load on engines and increase fuel-efficiency. OEMs have integrated multiple electric components in their vehicles, which propels the demand for larger batteries with higher discharge capacities. Battery manufacturers have formulated an array of automotive battery offerings with higher number of plates to increase their capacity. Thus, growing trend of vehicle electrification is boosting the automotive battery plate market across the globe.
Impact of COVID-19 pandemic on Automotive Battery Plate Market
- The recent outbreak of COVID-19 pandemic forced governments to impose lockdowns for containing the spread of virus. Amidst these lockdowns and restriction on international trade activities, automotive supply chains across the globe were disrupted. Sale of vehicles also dropped significantly, thereby negatively impacting the global automotive battery plate market. However, countries are lifting restrictions and companies are restarting the production and trade activities, which is projected to fuel the automotive industry and subsequently, boost the automotive battery plate market in the near future.
Asia Pacific holds significant share of global automotive battery plate market
- Asia Pacific dominated the global automotive battery plate market in 2020. The market in the region is expected to expand at a considerably high growth rate during the forecast period due to expansion of the automotive industry in countries such as China, India, and Japan. This expansion has led to high production of vehicles and increase in per capita income in the region, thereby fueling the sale of vehicles boosting the demand for automotive battery plates.
Key Players Operating in Automotive Battery Plate Market
The global automotive battery plate market is highly concentrated due to the presence of top manufacturers. A few of the key players operating in the automotive battery plate market are:
- Amtek Batteries
- CHILWEE GROUP CO.,LTD
- Exide Industries Limited
- Fujian Minhua Power Source Co., Ltd
- Inzen Power Pty Ltd
- Microtex Energy Private Limited
- Pilot Industries Limited
- Spark Battery Industries
- V.B. Corporation
- ZEN BATTERIES
Global Automotive Battery Plate Market: Research Scope
Global Automotive Battery Plate Market, by Battery Type
- Lead acid Battery
- Lithium-ion Battery
Global Automotive Battery Plate Market, by Plate Type
- Flat Plate
- Tubular Plate
Global Automotive Battery Plate Market, by Vehicle Type
- Passenger Vehicle
- Utility Vehicles
- Light Commercial Vehicle
- Buses and Coaches
- Off-road vehicles
Global Automotive Battery Plate Market, by Sales Channel
Global Automotive Battery Plate Market, by Region
- North America
- Nordic Region
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
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The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
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The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.