Australia Automotive Battery Market to Grow at Substantial Rate During Forecast Period
Increasing demand for
transportation along with rapid expansion in the automotive industry to drive Australia automotive
battery market through 2024
According to
TechSci Research report, “Australia
Automotive Battery Market By Battery Type, By Vehicle Type, By Sales
Channel, By Region, Competition, Forecast & Opportunities, 2024”, Australia automotive
battery market is anticipated to witness significant growth during the forecast
period on account of development of new fuel-saving technologies, increasing
demand for automobiles and strict emission standards application by Auto OEMs. Moreover,
government initiatives for the adoption of alternative fuel vehicles to reduce
dependence on oil are enhancing the use of electric powered vehicles, thereby further
fueling growth in the market. The introduction of automotive battery technology
that enables quick recharge and offers power-saving options is anticipated to drive
the growth of the Australia automotive battery market in the coming years. However,
lack of adequate infrastructure to support electric vehicles, and volatility in
the price of raw materials of a battery are the major factors anticipated to
affect the growth of the automotive battery market over the next 5 years.
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Australia automotive
battery market can be segmented based on battery type, vehicle type, sales
channel and region. Based on vehicle type, the market can be categorized into Passenger
Vehicles, Commercial Vehicles, Electric Vehicles and Two Wheelers. Among them,
the passenger vehicles represented the largest market share until 2018. The
demand for automotive batteries from electric vehicles is expected to register
an impressive growth during the forecast period on account of increasing sales
of electric vehicles and rising environmental pollution.
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ATLASBX Co., Ltd., BYD Co Ltd, B.B. Battery Co., Ltd., EnerSys Australia
Pty Ltd, Century Yuasa Batteries Pty Ltd., Robert Bosch (Australia) Pty. Ltd.,
Exide Australia Pty Ltd, VARTA, Amaron Batteries, Johnson Controls Australia
Proprietary Ltd. are the leading players operating in Australia automotive
battery market. The companies operating in the market are using organic
strategies such as product launches, mergers and collaborations to boost their
share and expand the market.
“Automotive
battery market is
one of the most dynamic market worldwide and is anticipated to
grow at formidable rate during the forecast period on account of growing inclination
towards pollution-free electric and hybrid vehicles. Moreover, increasing
investment in the research and development of battery technology for fuel cell based
automobiles and development of nano technology based lithium batteries for
electric vehicles are further anticipated to positively influence Australia
automotive battery market through 2024.”
said Mr. Karan Chechi, Research Director with TechSci Research, a research
based global management consulting firm.
“Australia Automotive Battery Market By Battery
Type, By Vehicle Type, By Sales Channel, By Region, Competition, Forecast &
Opportunities, 2024” has evaluated
the future growth potential of Australia automotive battery market and provides
statistics & information on market size, structure and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges and opportunities in Australia automotive battery market.
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