The global start-stop battery market is expected to exhibit a CAGR of 21.8 percent over the forecast period, according to a new market research report Global Start-stop Battery Market Report, By Battery Type (Lead-acid Battery and Lithium-ion Battery), By Lead-acid Battery Type (Absorbent Glass Mat and Enhanced Flooded Battery), By Application (Conventional Vehicle and Electric Vehicle), and by Geography.
Stringent regulations regarding gas emission is a key factor driving growth of the global start-stop battery market over the forecast period. As the start-stop technology helps to reduce the vehicle’s fuel consumption and emission, by reducing the idling time of engine. Governments of various countries are focusing on stringent regulations to reduce the carbon footprint and enhance the efficiency of vehicles. For instance, Corporate Average Fuel Economy (CAFE) Standards in the U.S. is propagating adoption of energy-efficient automotive by formulating regulations for reduction of petroleum consumption. It is also focused on reducing greenhouse emissions and promoting development of innovative technologies to increase reliance on renewable and conservation of energy sources. The European Union has its own set of emission standards for all new vehicles. According to EU Regulation No 443/2009, an average CO2 emission for new passenger cars is 130 grams per kilometer and is expected to reach a target of 95 grams per kilometer from 2021. The EU set an emissions target of 147 gram per kilometer from 2020 for light commercial vehicle target. This in turn, is expected to increases the demand for start-stop technology, which in turn, is expected to accelerate growth of the global start stop battery market globally.
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Browse 300 market data tables* and 50 figures* on "Start-stop Battery Market” - Global forecast to 2025.
Key Takeaways of the Market:
- The Asia Pacific held the dominant position in the global start-stop battery market and is projected to retain its dominance throughout the forecast period. In 2017, the Start-stop Battery Market in Asia Pacific generated revenue of US$ 2.3 billion and is expected to reach US$ 11.9 billion by 2025, exhibiting a CAGR of 22.7% over the forecast period. India, China, and Japan are major growth engines for the market in the region. The increasing sales of electric vehicles in this region is a major driver for market growth. According to International Energy Agency, in 2017, over half of the global sales of electric cars were in recorded in China.
- Among applications, the conventional vehicle segment is projected to witness fastest growth. By 2025, the segment is expected to reach US$ 10.2 billion, exhibiting a CAGR of 24.3% over the forecast period. The increasing demand for fuel-efficient vehicles and reducing harmful emissions is increasing the demand for integrating start stop system in conventional vehicles. This in turn, is expected to boost growth of the segment. Furthermore, increasing sales of vehicles has accelerate growth of the segment. According to International Organization of Motor Vehicle Manufacturers, the sales or registration of new vehicles was recorded at 96.8 million units in 2017 from 93.9 million units in 2016 globally.
- Major players operating in the global start-stop battery market include A123 System LLC, ATLASBX Co., Ltd, East Penn Manufacturing, Exide Technologies, GS Yuasa International Ltd., Johnson Controls, Leoch Battery, Inc., Panasonic Corporation, Saft America, Inc., and Tianneng Power International Co., Ltd.
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