ANZ automotive battery market to double by 2030; The Covid-19 pandemic limits production capacity and sales
NEW YORK, NEW YORK, USA, September 22, 2022 /EINPresswire.com/ — The ANZ automotive battery market will expand at a CAGR of 7% during the forecast period from 2020 to 2030 and reach US$1.5 billion by the end of 2030.
This report examines in detail “Market of car batteries Anz” use of SWOT analysis, i.e. strengths, weaknesses, opportunities and threats to the organization. The Anz Automotive Battery Market Report also provides a detailed overview of the key players in the market based on various goals of the organization such as profiling, product description, production volume, required raw materials and financial condition. organizations.
A car battery is a type of rechargeable battery that is used to start, light, and ignite a vehicle, and to control all electrical parts of a vehicle. Car batteries are installed both in vehicles with an internal combustion engine and in electric and hybrid vehicles. The electrification of vehicle components and the growing preference for electric vehicles are expected to increase the demand for car batteries over the forecast period.
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Key Findings from ANZ Automotive Battery Market Research
Australia has a leading market share in the ANZ car battery market, thanks to its huge fleet and increasing sales of electric vehicles in the country.
For the ANZ automotive battery market, as most installations are in the aftermarket, where quality and price are critical to making a sale, it becomes extremely important for players to compete for the same piece of the double-edged pricing pie. strategy.
By battery type, the lead-acid battery segment is expected to hold a significant market share and is expected to maintain its dominance during the forecast period.
Market participants are expanding their online e-commerce platforms and dealer networks across the region, a key new trend in the ANZ automotive battery market.
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Some players in the ANZ automotive battery market:
– GS Yuasa Corporation
– Exide Technologies
– East Penn Manufacturing Company
– Clarios Delcore Corporation
– Panasonic Corporation
– Supercharged batteries
– Hankook AtlasBX Co. Ltd.
– FIAMM Energy Technology SpA
– Marshall Batteries
The COVID-19 crisis is estimated to have a significant impact on the ANZ automotive battery market due to the limited manufacturing capacity of market participants at this time. In addition, the crisis also had a direct impact on the overall sales of car batteries.
ANZ Automotive Battery Market: Competitive Landscape
ANZ automotive batteries have a fairly fragmented market structure, with the top five players holding 20% to 25% market share. Tier I companies are expected to remain the dominant force during the forecast period due to their product experience, brand name and broad market.
Tier-II and other players are focusing on introducing cost-effective, value-for-money specialized products to improve their market penetration.
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Amid turmoil in the automotive industry, the closure of manufacturing plants in Australia and New Zealand since 2017 has halted the development of automotive production in the region. However, the vast vehicle fleet and growing demand for electric vehicles present profitable opportunities and are expected to be reflected in market growth over the forecast years. Improved EV infrastructure, as well as higher demand for passenger cars with internal combustion engines, is predicted to drive growth in the ANZ automotive battery market through 2030.
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