Worldwide – The global automotive battery market will have a projected value of US$ 42.6 billion by 2019, says a new report from consulting firm TechSci Research. Factors driving this growth will include increasing battery demand from OEMs and higher battery sales in the replacement market.
In value terms, the passenger car battery market is said to be the most dominant automotive segment – followed by commercial, two-wheeler, three-wheeler and off-road – and it is expected to maintain this position over the next five years. ‘Asia-Pacific is the most dominant region for the global automotive battery market,’ the report states.
‘This can be attributed to the region’s huge and expanding two-wheeler and passenger car fleet, especially in China, Japan and India.’ Karan Chechi, research director with TechSci Research, adds: ‘Johnson Controls is the leader in the global automotive battery market, accounting for over one-third of global automotive battery sales.’
Strong collaborations with leading global OEMs and the company’s strong worldwide sales network will enable Johnson Controls to cement this position in the years to 2019, it is argued.