Automotive Battery Aftermarket Market Growth, Size, Trends, Analysis Report by Type, Application, Region and Segment Forecast 2021-2025

Published: Jun 2021

Pages: 120

SKU: IRTNTR70638

Snapshot

The automotive battery aftermarket has the potential to grow by 26.28 million units during 2021-2025, and the market’s growth momentum will decelerate at a CAGR of 1.99%.

This automotive battery aftermarket research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers market segmentation by vehicle type (passenger cars, LCV, and M and HCV) and geography (APAC, Europe, North America, South America, and MEA). The automotive battery aftermarket report also offers information on several market vendors, including Amara Raja Batteries Ltd., East Penn Manufacturing Co. Inc., EnerSys, Exide Industries Ltd., GS Yuasa Corp., LG Chem Ltd., Panasonic Corp., Robert Bosch GmbH, Saft Groupe SA, and Toshiba Corp. among others.

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Automotive Battery Aftermarket Market: Key Drivers and Trends

The aging vehicle fleets is notably driving the automotive battery aftermarket market growth, although factors such as increasing adoption of EVs may impede market growth. To unlock information on the key market drivers and the COVID-19 pandemic impact on the automotive battery aftermarket market industry get your FREE report sample now.

The average age of vehicles, especially in North America and Europe, is rising continuously.
The total number of in-use commercial vehicles is increasing continuously across all key regions worldwide. The large number of in-use vehicles with a significantly high average age offers numerous opportunities for vendors in the automotive battery aftermarket across all key regions.
Automotive batteries are subjected to continuous drainage. Though these batteries have long replacement cycles, continuous growth in aging vehicle fleets still offers significant growth opportunities for vendors in the automotive battery aftermarket market.
In addition, market vendors offer replacement automotive batteries with a high degree of reliability and performance, which has been increasing their revenue generation.
The number of in-use vehicles is anticipated to rise gradually in the coming years, and the increase is anticipated to be driven by countries from APAC and South America.
The average age of vehicles in APAC and South America is likely to increase rapidly during the forecast period. This will drive the growth of the automotive battery aftermarket during the forecast period.

High reliance on IC engines for mechanizing vehicles is another key factor driving the growth of the automotive battery aftermarket market.
The rising need for personal mobility, an increase in household incomes, and growing trade have been increasing the sales of gasoline and diesel engine vehicles since 2017.
A large number of vehicles sold globally are equipped with IC engines. Commercial vehicles predominantly depend on diesel engines, as only diesel offers sufficient low-end torque for hauling heavy loads.
The rising preference for the road transport of freight is also increasing the demand for commercial vehicles rather than electric and hybrid vehicles.
IC engine vehicles are preferred in emerging countries due to the presence of these vehicles in emerging countries for a very long time and reliable aftermarket services available for such vehicles.
As batteries installed in ICE vehicles tend to reach the end of their useful life faster than EV batteries, the high reliance on ICE vehicles is favoring the growth of the automotive battery aftermarket market.

This automotive battery aftermarket analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. Get detailed insights on the trends and challenges, which will help companies evaluate and develop growth strategies.

Who are the Major Automotive Battery Aftermarket Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

The automotive battery aftermarket is fragmented and the vendors are deploying growth strategies such as investments in R&D to offer better products to compete in the market. Click here to uncover other successful business strategies deployed by the vendors.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

Download a free sample of the automotive battery aftermarket forecast report for insights on complete key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Which are the Key Regions for Automotive Battery Aftermarket?

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82% of the market’s growth will originate from APAC during the forecast period. China, Japan and India, and are the key markets for automotive battery aftermarket market in APAC. Market growth in this region will be faster than the growth of the market in other regions.

Improving and stabilizing socioeconomic conditions will facilitate the automotive battery aftermarket growth in APAC over the forecast period. To garner further competitive intelligence and regional opportunities in store for vendors, view our sample report.

What are the Revenue-generating Market Segments by Vehicle Type in the Automotive Battery Aftermarket?

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The growth of the market in this segment can be attributed to the increasing disposable income of individuals belonging to the middle class. Additionally, the rising preference for fuel efficiency and three-row seats in crossovers and SUVs is driving the growth of the SUV and crossover vehicles market in the US. The increasing average annual miles traveled by these vehicles and the high degree of focus of vehicle owners on regular maintenance and upgrades offer significant growth opportunities to vendors in the market.

Fetch actionable market insights on post COVID-19 impact on each segment. This report provides an accurate prediction of the contribution of all the segments to the growth of the automotive battery aftermarket size.

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What are the Key Factors Covered in this Automotive Battery Aftermarket Report?

CAGR of the market during the forecast period 2021-2025
Detailed information on factors that will drive automotive battery aftermarket growth during the next five years
Precise estimation of the automotive battery aftermarket size and its contribution to the parent market
Accurate predictions on upcoming trends and changes in consumer behavior
The growth of the automotive battery aftermarket across APAC, Europe, North America, South America, and MEA
A thorough analysis of the market’s competitive landscape and detailed information on vendors
Comprehensive details of factors that will challenge the growth of automotive battery aftermarket vendors

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Automotive Battery Aftermarket Market Scope
Report Coverage	Details
Page number	120
Base year	2020
Forecast period	2021-2025
Growth momentum & CAGR	Decelerate at a CAGR of 2%
Market growth 2021-2025	26.28 mn units
Market structure	Fragmented
YoY growth (%)	-3.96
Regional analysis	APAC, Europe, North America, South America, and MEA
Performing market contribution	APAC at 82%
Key consumer countries	China, US, Japan, Germany, India, and Brazil
Competitive landscape	Leading companies, competitive strategies, consumer engagement scope
Companies profiled	Amara Raja Batteries Ltd., East Penn Manufacturing Co. Inc., EnerSys, Exide Industries Ltd., GS Yuasa Corp., LG Chem Ltd., Panasonic Corp., Robert Bosch GmbH, Saft Groupe SA, and Toshiba Corp.
Market Dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period,
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Table of Contents

Executive Summary

Market Landscape

Market ecosystem
Value chain analysis

Market Sizing

Market definition
Market segment analysis
Market size 2020
Market outlook: Forecast for 2020 - 2025
Impact of COVID-19 on consumer discretionary sector

Five Forces Analysis

Market Segmentation by Vehicle Type

Market segments
Comparison by Vehicle type
Passenger cars - Market size and forecast 2020-2025
LCV - Market size and forecast 2020-2025
M and HCV - Market size and forecast 2020-2025
Market opportunity by Vehicle type

Customer Landscape

Geographic Landscape

Geographic segmentation
Geographic comparison
APAC - Market size and forecast 2020-2025
Europe - Market size and forecast 2020-2025
North America - Market size and forecast 2020-2025
South America - Market size and forecast 2020-2025
MEA - Market size and forecast 2020-2025
Key leading countries
Market opportunity by geography
Market drivers
Market challenges
Market trends

Vendor Landscape

Overview
Vendor landscape
Landscape disruption

Vendor Analysis

Appendix

Scope of the report
Currency conversion rates for US$
Research methodology
List of abbreviations

Methodology

Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

INFORMATION SOURCES

Primary sources

Manufacturers and suppliers
Channel partners
Industry experts
Strategic decision makers

Secondary sources

Industry journals and periodicals
Government data
Financial reports of key industry players
Historical data
Press releases

DATA ANALYSIS

Data Synthesis

Collation of data
Estimation of key figures
Analysis of derived insights

Data Validation

Triangulation with data models
Reference against proprietary databases
Corroboration with industry experts

REPORT WRITING

Qualitative

Market drivers
Market challenges
Market trends
Five forces analysis

Quantitative

Market size and forecast
Market segmentation
Geographical insights
Competitive landscape

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Key Questions Answered

What are the key global market and the regional market share?
What are the revenue-generating key market segments?
What are the key factors driving and challenging this market’s growth?
Who are the key market vendors and their growth strategies?
What are the latest trends influencing the growth of this market?
What are the variables influencing the market growth in the primary regions?
What are the factors influencing the growth of the parent market?

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