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Archive of posts published in the category: Lead
May
8

Sales of Automotive Lead Acid Batteries to Soar, as Global Vehicle Production Ramps Up, Says Fact.MR

Automotive lead acid battery market is set to surpass a valuation of US$ 41.8 Bn and is poised to grow at a value CAGR of 5% during the forecast period (2019-2029). The surge in production of automobiles globally has supplemented the growth of lead acid battery market. Lead acid batteries are soaring on popularity as they provide an additional source of power to the vehicle. However, in the current scenario, the global automobile market has been stagnant in terms of profitable growth. This is anticipated to change in the coming years as the automotive sector is set to capture growth opportunities owing to the increasing vehicle production, thus aiding the demand for automotive lead acid batteries. Moreover, the heightened uptake of passenger cars globally, is expected to accelerate the growth of automotive lead acid battery market. Further, a steady rise in the use of pure electric and hybrid vehicles is fueling demand for enhanced flooded batteries which function as auxiliary batteries for starting, lighting, and ignition (SLI). The newest report by Fact.MR estimates that the enhanced flooded batteries will account for ~34% of the total global value share by the end of forecast period.

Key Takeaways of Automotive Lead Acid Battery Market

  • Flooded batteries are estimated to create an absolute $ opportunity of US$ ~4.9 Bn accounting for nearly 39% of the total share during the forecast period. Owing to the extensive use of cost-effective energy storage batteries in emerging countries, flooded battery segment is projected to expand 1.4X as compared to 2019
  • Asia-Pacific will remain the prominent region across the forecast period, accounting for more than 45% share in the automotive lead acid battery market.
  • The Internal Combustion Engine (ICE) technology segment is expected to create an absolute $ opportunity of US$ ~15.1 Bn during the forecast period owing to the continuous adoption of conventional vehicles over electric vehicles due to lack of charging infrastructure in developing economies.
  • In terms of value, the enhanced flooded battery type segment is expected to grow 2.2X over the forecast period

“Research and development initiatives for sustainable technologies and high performance at low costs is expected to provide new growth prospects in the automotive lead acid battery market” says the Fact.MR analyst

Partnerships to Remain Key Forte of Competitors

The report reveals some of the key players, including EnerSys Inc., Johnson Controls Inc., GS Yuasa Corporation, Panasonic Corporation, Leoch International Technology Limited, Exide Industries Ltd., East Penn Manufacturing Company, Exide Technologies Inc., CSB Battery Company Limited, NorthStar, FIAMM S.p.A., and others. Prominent manufacturers are focusing on building partnerships to strengthen their global presence. For instance,       

  • In 2019, Exide Industry partnered with JCB’s Electric Teletrucks. With this partnership Exide will provide nuanced battery solutions to JCB
  • In 2018, NorthStar teamed up with Daimler to create the world’s first ultra-high performance pure lead AGM battery

Find More Valuable Insights on Automotive Lead Acid Battery Market

Fact.MR, in its new offering, brings to fore an unbiased analysis of the global automotive lead acid battery market, presenting

Apr
23

The Volvo Group and Daimler Truck AG to Lead the Development of Sustainable Transportation by Forming Joint Venture for Large-scale Production of Fuel Cells

GÖTEBORG, Sweden, April 21, 2020 /PRNewswire/ — Sharing the Green Deal vision of sustainable transport and a carbon neutral Europe by 2050, two leading companies in the commercial vehicle industry, Daimler Truck AG and the Volvo Group, have signed a preliminary non-binding agreement to establish a new joint venture. The intention is to develop, produce and commercialize fuel cell systems for heavy-duty vehicle applications and other use cases. Daimler will consolidate all its current fuel cell activities in the joint venture. The Volvo Group will acquire 50% in the joint venture for the sum of approximately EUR 0.6 billion on a cash and debt free basis. 

“Transport and logistics keep the world moving, and the need for transport will continue to grow. Truly CO2-neutral transport can be accomplished through electric drive trains with energy coming either from batteries or by converting hydrogen on board into electricity. For trucks to cope with heavy loads and long distances, fuel cells are one important answer and a technology where Daimler has built up significant expertise through its Mercedes-Benz fuel cell unit over the last two decades. This joint initiative with the Volvo Group is a milestone in bringing fuel cell powered trucks and buses onto our roads,” says Martin Daum, Chairman of the Board of Management Daimler Truck AG and Member of the Board of Management of Daimler AG.

“Electrification of road transport is a key element in delivering the so called Green Deal, a carbon neutral Europe and ultimately a carbon neutral world. Using hydrogen as a carrier of green electricity to power electric trucks in long-haul operations is one important part of the puzzle, and a complement to battery electric vehicles and renewable fuels. Combining the Volvo Group and Daimler’s experience in this area to accelerate the rate of development is good both for our customers and for society as a whole. By forming this joint venture, we are clearly showing that we believe in hydrogen fuel cells for commercial vehicles. But for this vision to become reality, other companies and institutions also need to support and contribute to this development, not least in order to establish the fuel infrastructure needed,” says Martin Lundstedt, Volvo Group President and CEO. 

The Volvo Group and Daimler Truck AG will be 50/50 partners in the joint venture, which will operate as an independent and autonomous entity, with Daimler Truck AG and the Volvo Group continuing to be competitors in all other areas of business. Joining forces will decrease development costs for both companies and accelerate the market introduction of fuel cell systems in products used for heavy-duty transport and demanding long-haul applications. In the context of the current economic downturn cooperation has become even more necessary in order to meet the Green Deal objectives within a feasible time-frame.

The common goal is for both companies to offer heavy-duty vehicles with fuel cells for demanding long-haul applications in series production in the second half of the decade. In addition, other automotive and