The global car battery market size is expected to reach USD 92.60 Billion in 2028 and register a revenue CAGR of 5.2% over the forecast period, according to the latest report by Reports and Data. Increasing demand for pollution-free hybrid and electric vehicles is driving market revenue growth. Reduction in crude oil reserves, fall in battery prices, and increasing concerns regarding the environment is another factor driving revenue growth of the global car battery market.
COVID-19 has affected market growth negatively due to continuous lockdown in most parts of the world and halt in production of car batteries. The pandemic also highlighted dependence of manufacturing battery cells on China and the risks associated with it. Market players are beginning to move their manufacturing plants more lucrative regions and countries, thereby paving way for new opportunities for other countries.
Get a sample of the car battery market report @ https://www.reportsanddata.com/sample-enquiry-form/4173
Major players in the market include Exide Technologies, A123 Systems, LLC, Enersys, Hitachi, Ltd., GS Yuasa Corporation, LG Chem Ltd., BYD Co. Ltd., NEC Corporation, Samsung SDI Co., Ltd., and LG Chem Ltd.
Increase in production and sale of vehicles, rising demand for advanced technologies, and changing lifestyle are some other factors fueling market revenue growth. Electric vehicle manufacturers are focusing on installing batteries with adequate power and reserve capacity to drive sales and attract more customers. Moreover, increasing investment in research and development of electric vehicles is expected to provide ample growth opportunities for players operating in the global car battery market in the coming years.
Rechargeable batteries play a significant role in lowering carbon footprint and mitigating greenhouse gas emissions, which is also propelling market growth. Another driving factor of car batteries market is increasing demand for electric vehicles.
Some Key Highlights from the Report
Check Discount@ https://www.reportsanddata.com/discount-enquiry-form/4173
For the purpose of this report, Reports and Data has segmented the global car battery market based on type, vehicle type, sales channel, and region:
Type Outlook (Revenue, USD Billion; 2018–2028)
Vehicle Type Outlook (Revenue, USD Billion; 2018–2028)
Key Reasons to Buy the Market Report:
Sales Channel Outlook (Revenue, USD Billion; 2018–2028)
Regional Outlook (Revenue, USD Billion; 2018–2028)
Browse Complete Report “Car Battery Market” @ https://www.reportsanddata.com/report-detail/car-battery-market
Browse Our Related Reports:
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise.
Head of Business Development
Reports and Data | Web:www.reportsanddata.com
Direct Line: +1-212-710-1370