According to IMARC Group latest report titled “GCC Automotive Lead-Acid Battery Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, offers a comprehensive analysis of the industry, which comprises insights on GCC Automotive Lead-Acid Battery market. The report also includes competitor and regional analysis, and contemporary advancements in the market. The GCC automotive lead-acid battery market size reached US$ 359.4 Million in 2021. Looking forward, IMARC Group expects the market to reach US$ 453.9 Million by 2027, exhibiting a growth rate (CAGR) of 3.88% during 2022-2027.
The automotive lead-acid battery is a type of rechargeable battery that converts chemical energy into electrical energy using lead peroxide and sponge lead. It consists of a lead dioxide cathode, metallic lead anode and electrolyzed sulfuric acid solution. It is extensively utilized for the starting, lighting and ignition (SLI) applications in automobiles and for supplying power to various vehicle accessories like air conditioners, wipers and music systems.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
The GCC automotive lead-acid battery market is primarily driven by the escalating demand for automobiles on account of rapid urbanization and elevating incomes. Additionally, there has been increasing demand for lead-acid batteries due to their reliability, cost-effectiveness, tolerance to overcharging and minimal environmental impact. Furthermore, several initiatives undertaken by the regional governments to promote the usage of electric vehicles have positively influenced the market. Other factors, including ongoing research and development (R&D) activities to develop advanced and eco-friendly product variants, and rising automotive production across the region, are also anticipated to create a favorable market outlook.
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Competitive Landscape with Key players:
The report has also analysed the competitive landscape of the market with some of the key players being.
GCC Automotive Lead-Acid Battery Market Segmentation:
Our report has categorized the market based on country, vehicle type, product, type and customer segment.
Key Regions Analysed:
- Saudi Arabia
Analysis for Each Country
Market by Vehicle Type:
- Passenger Cars
- Commercial Vehicles
- Two Wheelers
- HEV Cars
Market by Product:
- SLI Batteries
- Micro Hybrid Batteries
Market by Type:
- Flooded Batteries
- Enhanced Flooded Batteries
- VRLA Batteries
Market by Customer Segment:
Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
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