Market Research Future (MRFR) has launched a new release on the global Automotive Battery Market Size . The report presents a thorough overview of the global [FURL=https://www.marketresearchfuture.com/reports/automotive-battery-market-4763]Automotive Battery Market Size [/FURL] on the back of a detailed analysis of the market’s historical growth trajectory and leading segments. The market’s historical growth trajectory is assessed in detail in the report in order to understand the major factors underlying the market’s growth in the study period.Market Highlights
Market Research Future (MRFR) reports that the global Automotive Battery Market Size will expand at a compound annual growth rate (CAGR) of 5.5% during the assessment period (2018–2025). The Market is projected to reach a valuation of USD 75 Billion by the year 2025. Battery is key component of a vehicle. In recent years, the important of battery has grown further. Automotive batteries play an important role in powering cars.
Witch changing needs, the technology in automotive battery is also changing. The arrival of hybrid and fully electric vehicle has provided an impetus to automotive batteries. Growing Markets of vehicles, growth of the electric vehicle market, and rapid expansion of the automotive sector in Asia, Latin America and the Middle East are some of the factors contributing to the growth of the market. Moreover, growing commercial interest toward electric mobility is expected to support the market. Government subsidies and favourable regulations for electric cars are indicative of the growing interest in such segments.
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Global Automotive Battery Market Size Revenue: Segmental Analysis
MRFR’s report includes a detailed segmental analysis of the Market on the basis of propulsion, Markets channel, vehicle type, type and region.
On the basis of propulsion, the Market has been segmented into electric vehicle and internal combustion engine (ICE). The ICE segment currently accounts for a significant Market share and is like to remain highly attractive throughout the assessment period. On the basis of type, the Market has been segmented into nickel-metal hydride, lithium-ion, lead-acid and others. The lithium-ion segment is expected to witness a healthy growth during the assessment period. Based on vehicle type, the Market has been segmented into commercial vehicle and passenger car. The passenger car segment holds the predominant share of the Market in terms of value. On the basis of Markets channel, the Market has been segmented into afterMarket and OEM. The former is expected to witness a relatively higher growth rate during the assessment period.
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