Automotive Lead Acid Batteries Market Key Findings by 2031
The Automotive Lead Acid Batteries Market is expected to register a CAGR of 5.1% from 2023 to 2031, with a market size expanding from US$ XX million in 2023 to US$ XX Million by 2031.
Automotive Lead Acid Batteries Market covers analysis By Product (SLI, Micro Hybrid Batteries); Type (Flooded, Enhanced Flooded, VRLA); End-user (Passenger Car, LCV, MCV and HCV) , and Geography (North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America)
Purpose of the ReportThe report Automotive Lead Acid Batteries Market by The Insight Partners aims to describe the present landscape and future growth, top driving factors, challenges, and opportunities. This will provide insights to various business stakeholders, such as:
- Technology Providers/Manufacturers: To understand the evolving market dynamics and know the potential growth opportunities, enabling them to make informed strategic decisions.
- Investors: To conduct a comprehensive trend analysis regarding the market growth rate, market financial projections, and opportunities that exist across the value chain.
- Regulatory bodies: To regulate policies and police activities in the market with the aim of minimizing abuse, preserving investor trust and confidence, and upholding the integrity and stability of the market.
Automotive Lead Acid Batteries Market Segmentation
By Product- SLI
- Micro Hybrid Batteries;
- Flooded
- Enhanced Flooded
- VRLA;
- Passenger Cars
- Light Commericla Vehicles
- Medium and Heavy Duty Commercial Vehicles
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- South and Central America
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- South and Central America
Strategic Insights
Automotive Lead Acid Batteries Market Growth Drivers- Widespread Adoption of Lead Acid Batteries in Traditional Vehicles: Lead acid batteries have long been the primary power source for internal combustion engine (ICE) cars, and their continuous dominance in this segment is a key driver of the automotive lead acid batteries market. These batteries are dependable, inexpensive, and widely available, making them the preferable option for most vehicles, particularly in areas with high volumes of conventional vehicle sales. Furthermore, their widespread use in vehicle starting, lighting, and ignition (SLI) systems ensures steady demand. As the worldwide fleet of ICE vehicles expands, lead acid batteries remain key components, assuring the market's sustained growth.
- Increase Adoption of Vehicle Electrification (Start-Stop Systems): The growing use of start-stop systems in vehicles, which are designed to decrease fuel consumption and emissions by automatically shutting down and restarting the engine during idle periods, has become a major driver of the automotive lead acid battery industry. These systems require batteries that can withstand repeated charging and draining cycles. Lead acid batteries are ideal for these applications because they are both long-lasting and cost-effective. As more vehicles, even entry-level and mid-range models, include start-stop technology, the need for advanced lead acid batteries, such as AGM (Absorbent Glass Mat) and EFB (Enhanced Flooded Battery), rises.
- Development of Cost-Effectiveness and Established Infrastructure: The cost-effectiveness of lead acid batteries remains a key driver in the automobile business. Despite the rise of alternatives such as lithium-ion batteries, lead acid batteries remain much less expensive, making them an appealing option for cost-conscious consumers, particularly in underdeveloped countries. Furthermore, the ubiquitous availability of lead acid battery production factories, recycling infrastructure, and a well-established supply chain ensure that this technology continues to dominate. The capacity to efficiently generate and recycle lead acid batteries lowers overall costs compared to newer technologies.
- Shift Toward Advanced Battery Technologies for Eco-friendly Vehicles: One of the important trends in the automotive lead acid battery market is a growing emphasis on developing innovative battery technologies to enable environmentally friendly automobiles, such as those with hybrid and electric drivetrains. While lithium-ion batteries dominate the electric vehicle (EV) market, lead acid batteries continue to play an important part in the vehicles' support systems. Lead acid batteries, for example, are extensively used in hybrid vehicles' auxiliary power systems and in EVs to power non-propulsion systems (such as HVAC, lighting, and entertainment). As automakers continue to look for ways to cut the overall cost of hybrid and electric vehicles, the use of lead acid batteries in secondary applications may become more common.
- Integration of Smart Features in Lead Acid Batteries: The trend of integrating smart technology into lead acid batteries is changing the way they are utilized in modern automobiles. Smart lead acid batteries with integrated sensors and communication capabilities provide real-time monitoring of battery health, charge levels, temperature, and overall performance. This data can be sent to vehicle control systems, which can notify drivers of potential battery difficulties or optimize energy management in vehicles equipped with start-stop systems. Smart batteries also contribute to improved maintenance, longer battery life, and increased performance, which is especially essential for consumers who rely on the lifetime and dependability of their vehicle's battery. The trend toward "smart" automotive batteries is gaining traction as both consumers and manufacturers strive to improve battery performance.
- Development of Advanced Lead Acid Battery Technologies: There is an increasing opportunity to develop advanced lead acid battery technologies such as AGM (Absorbent Glass Mat) and EFB (Enhanced Flooded Batteries), which provide higher performance and longer lifespans than traditional flooded lead acid batteries. These sophisticated battery technologies are ideal for start-stop systems, which require batteries capable of frequent cycling and high charge acceptance. Manufacturers may position themselves to meet the changing demands of the automotive industry by investing in research and development to increase the performance, efficiency, and life cycle of lead acid batteries, especially as more vehicles embrace fuel-efficient and environmentally friendly features.
- Focus on Recycling and Sustainability: Sustainability and recycling are creating opportunities in the automotive lead acid battery market. Lead acid batteries are among the most recycled consumer products worldwide, with over 95% of their components reused. The focus on improving recycling efficiency and lowering the environmental impact of battery disposal is an important development in the automotive battery market. Manufacturers are investing in technologies that will improve lead acid battery recycling and lessen their environmental impact. Furthermore, the increased emphasis on circular economies encourages further innovation in lead acid battery recycling, opening up new options for both battery manufacturers and customers.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Automotive Lead Acid Batteries Market, providing a holistic landscape.
- Expert Analysis: The report is compiled based on the in-depth understanding of industry experts and analysts.
- Up-to-date Information: The report assures business relevance due to its coverage of recent information and data trends.
- Customization Options: This report can be customized to cater to specific client requirements and suit the business strategies aptly.
The research report on the Automotive Lead Acid Batteries Market can, therefore, help spearhead the trail of decoding and understanding the industry scenario and growth prospects. Although there can be a few valid concerns, the overall benefits of this report tend to outweigh the disadvantages.
REGIONAL FRAMEWORK
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Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
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to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
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to country scope.
Frequently Asked Questions
The Automotive Lead Acid Batteries Market is estimated to witness a CAGR of 5.1% from 2023 to 2031
The major factors driving the Automotive Lead Acid Batteries Market are: Increasing vehicle sale along with surge in government funding for batteries production drives the market growth.
High manufacturing costs of the lead acid batteries hinders the market growth.
EnerSys, East Penn Manufacturing Company, GS Yuasa Corporation, Exide Industries Ltd., CSB Energy Technology Co., Ltd., Exide Industries Ltd., Koyo Battery Co., Ltd., Leoch International Technology Limited, Mebco, PT. Century Batteries Indonesia, Reem Batteries, Ritar International Group, Robert Bosch GmbH, Stryten Energy, Tai Mao Battery Co., Ltd., Tianneng, and Others
The report can be delivered in PDF/PPT format; we can also share excel dataset based on the request.
Some of the customization options available based on the request are an additional 3–5 company profiles and country-specific analysis of 3–5 countries of your choice. Customizations are to be requested/discussed before making final order confirmation, as our team would review the same and check the feasibility.
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Automotive Lead Acid Batteries Market - By Product
1.3.2 Automotive Lead Acid Batteries Market - By Type
1.3.3 Automotive Lead Acid Batteries Market - By End-user
1.3.4 Automotive Lead Acid Batteries Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. AUTOMOTIVE LEAD ACID BATTERIES MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PORTER'S FIVE FORCES ANALYSIS
4.2.1 Bargaining Power of Buyers
4.2.1 Bargaining Power of Suppliers
4.2.1 Threat of Substitute
4.2.1 Threat of New Entrants
4.2.1 Competitive Rivalry
4.3. ECOSYSTEM ANALYSIS
4.4. EXPERT OPINIONS
5. AUTOMOTIVE LEAD ACID BATTERIES MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS AND RESTRAINTS
6. AUTOMOTIVE LEAD ACID BATTERIES MARKET - GLOBAL MARKET ANALYSIS
6.1. AUTOMOTIVE LEAD ACID BATTERIES - GLOBAL MARKET OVERVIEW
6.2. AUTOMOTIVE LEAD ACID BATTERIES - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. AUTOMOTIVE LEAD ACID BATTERIES MARKET - REVENUE AND FORECASTS TO 2028 - PRODUCT
7.1. OVERVIEW
7.2. PRODUCT MARKET FORECASTS AND ANALYSIS
7.3. SLI
7.3.1. Overview
7.3.2. SLI Market Forecast and Analysis
7.4. MICRO HYBRID BATTERIES
7.4.1. Overview
7.4.2. Micro Hybrid Batteries Market Forecast and Analysis
8. AUTOMOTIVE LEAD ACID BATTERIES MARKET - REVENUE AND FORECASTS TO 2028 - TYPE
8.1. OVERVIEW
8.2. TYPE MARKET FORECASTS AND ANALYSIS
8.3. FLOODED
8.3.1. Overview
8.3.2. Flooded Market Forecast and Analysis
8.4. ENHANCED FLOODED
8.4.1. Overview
8.4.2. Enhanced Flooded Market Forecast and Analysis
8.5. VRLA
8.5.1. Overview
8.5.2. VRLA Market Forecast and Analysis
9. AUTOMOTIVE LEAD ACID BATTERIES MARKET - REVENUE AND FORECASTS TO 2028 - END-USER
9.1. OVERVIEW
9.2. END-USER MARKET FORECASTS AND ANALYSIS
9.3. PASSENGER CAR
9.3.1. Overview
9.3.2. Passenger Car Market Forecast and Analysis
9.4. LCV
9.4.1. Overview
9.4.2. LCV Market Forecast and Analysis
9.5. MCV AND HCV
9.5.1. Overview
9.5.2. MCV and HCV Market Forecast and Analysis
10. AUTOMOTIVE LEAD ACID BATTERIES MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Automotive Lead Acid Batteries Market Overview
10.1.2 North America Automotive Lead Acid Batteries Market Forecasts and Analysis
10.1.3 North America Automotive Lead Acid Batteries Market Forecasts and Analysis - By Product
10.1.4 North America Automotive Lead Acid Batteries Market Forecasts and Analysis - By Type
10.1.5 North America Automotive Lead Acid Batteries Market Forecasts and Analysis - By End-user
10.1.6 North America Automotive Lead Acid Batteries Market Forecasts and Analysis - By Countries
10.1.6.1 United States Automotive Lead Acid Batteries Market
10.1.6.1.1 United States Automotive Lead Acid Batteries Market by Product
10.1.6.1.2 United States Automotive Lead Acid Batteries Market by Type
10.1.6.1.3 United States Automotive Lead Acid Batteries Market by End-user
10.1.6.2 Canada Automotive Lead Acid Batteries Market
10.1.6.2.1 Canada Automotive Lead Acid Batteries Market by Product
10.1.6.2.2 Canada Automotive Lead Acid Batteries Market by Type
10.1.6.2.3 Canada Automotive Lead Acid Batteries Market by End-user
10.1.6.3 Mexico Automotive Lead Acid Batteries Market
10.1.6.3.1 Mexico Automotive Lead Acid Batteries Market by Product
10.1.6.3.2 Mexico Automotive Lead Acid Batteries Market by Type
10.1.6.3.3 Mexico Automotive Lead Acid Batteries Market by End-user
10.2. EUROPE
10.2.1 Europe Automotive Lead Acid Batteries Market Overview
10.2.2 Europe Automotive Lead Acid Batteries Market Forecasts and Analysis
10.2.3 Europe Automotive Lead Acid Batteries Market Forecasts and Analysis - By Product
10.2.4 Europe Automotive Lead Acid Batteries Market Forecasts and Analysis - By Type
10.2.5 Europe Automotive Lead Acid Batteries Market Forecasts and Analysis - By End-user
10.2.6 Europe Automotive Lead Acid Batteries Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Automotive Lead Acid Batteries Market
10.2.6.1.1 Germany Automotive Lead Acid Batteries Market by Product
10.2.6.1.2 Germany Automotive Lead Acid Batteries Market by Type
10.2.6.1.3 Germany Automotive Lead Acid Batteries Market by End-user
10.2.6.2 France Automotive Lead Acid Batteries Market
10.2.6.2.1 France Automotive Lead Acid Batteries Market by Product
10.2.6.2.2 France Automotive Lead Acid Batteries Market by Type
10.2.6.2.3 France Automotive Lead Acid Batteries Market by End-user
10.2.6.3 Italy Automotive Lead Acid Batteries Market
10.2.6.3.1 Italy Automotive Lead Acid Batteries Market by Product
10.2.6.3.2 Italy Automotive Lead Acid Batteries Market by Type
10.2.6.3.3 Italy Automotive Lead Acid Batteries Market by End-user
10.2.6.4 United Kingdom Automotive Lead Acid Batteries Market
10.2.6.4.1 United Kingdom Automotive Lead Acid Batteries Market by Product
10.2.6.4.2 United Kingdom Automotive Lead Acid Batteries Market by Type
10.2.6.4.3 United Kingdom Automotive Lead Acid Batteries Market by End-user
10.2.6.5 Russia Automotive Lead Acid Batteries Market
10.2.6.5.1 Russia Automotive Lead Acid Batteries Market by Product
10.2.6.5.2 Russia Automotive Lead Acid Batteries Market by Type
10.2.6.5.3 Russia Automotive Lead Acid Batteries Market by End-user
10.2.6.6 Rest of Europe Automotive Lead Acid Batteries Market
10.2.6.6.1 Rest of Europe Automotive Lead Acid Batteries Market by Product
10.2.6.6.2 Rest of Europe Automotive Lead Acid Batteries Market by Type
10.2.6.6.3 Rest of Europe Automotive Lead Acid Batteries Market by End-user
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Automotive Lead Acid Batteries Market Overview
10.3.2 Asia-Pacific Automotive Lead Acid Batteries Market Forecasts and Analysis
10.3.3 Asia-Pacific Automotive Lead Acid Batteries Market Forecasts and Analysis - By Product
10.3.4 Asia-Pacific Automotive Lead Acid Batteries Market Forecasts and Analysis - By Type
10.3.5 Asia-Pacific Automotive Lead Acid Batteries Market Forecasts and Analysis - By End-user
10.3.6 Asia-Pacific Automotive Lead Acid Batteries Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Automotive Lead Acid Batteries Market
10.3.6.1.1 Australia Automotive Lead Acid Batteries Market by Product
10.3.6.1.2 Australia Automotive Lead Acid Batteries Market by Type
10.3.6.1.3 Australia Automotive Lead Acid Batteries Market by End-user
10.3.6.2 China Automotive Lead Acid Batteries Market
10.3.6.2.1 China Automotive Lead Acid Batteries Market by Product
10.3.6.2.2 China Automotive Lead Acid Batteries Market by Type
10.3.6.2.3 China Automotive Lead Acid Batteries Market by End-user
10.3.6.3 India Automotive Lead Acid Batteries Market
10.3.6.3.1 India Automotive Lead Acid Batteries Market by Product
10.3.6.3.2 India Automotive Lead Acid Batteries Market by Type
10.3.6.3.3 India Automotive Lead Acid Batteries Market by End-user
10.3.6.4 Japan Automotive Lead Acid Batteries Market
10.3.6.4.1 Japan Automotive Lead Acid Batteries Market by Product
10.3.6.4.2 Japan Automotive Lead Acid Batteries Market by Type
10.3.6.4.3 Japan Automotive Lead Acid Batteries Market by End-user
10.3.6.5 South Korea Automotive Lead Acid Batteries Market
10.3.6.5.1 South Korea Automotive Lead Acid Batteries Market by Product
10.3.6.5.2 South Korea Automotive Lead Acid Batteries Market by Type
10.3.6.5.3 South Korea Automotive Lead Acid Batteries Market by End-user
10.3.6.6 Rest of Asia-Pacific Automotive Lead Acid Batteries Market
10.3.6.6.1 Rest of Asia-Pacific Automotive Lead Acid Batteries Market by Product
10.3.6.6.2 Rest of Asia-Pacific Automotive Lead Acid Batteries Market by Type
10.3.6.6.3 Rest of Asia-Pacific Automotive Lead Acid Batteries Market by End-user
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Automotive Lead Acid Batteries Market Overview
10.4.2 Middle East and Africa Automotive Lead Acid Batteries Market Forecasts and Analysis
10.4.3 Middle East and Africa Automotive Lead Acid Batteries Market Forecasts and Analysis - By Product
10.4.4 Middle East and Africa Automotive Lead Acid Batteries Market Forecasts and Analysis - By Type
10.4.5 Middle East and Africa Automotive Lead Acid Batteries Market Forecasts and Analysis - By End-user
10.4.6 Middle East and Africa Automotive Lead Acid Batteries Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Automotive Lead Acid Batteries Market
10.4.6.1.1 South Africa Automotive Lead Acid Batteries Market by Product
10.4.6.1.2 South Africa Automotive Lead Acid Batteries Market by Type
10.4.6.1.3 South Africa Automotive Lead Acid Batteries Market by End-user
10.4.6.2 Saudi Arabia Automotive Lead Acid Batteries Market
10.4.6.2.1 Saudi Arabia Automotive Lead Acid Batteries Market by Product
10.4.6.2.2 Saudi Arabia Automotive Lead Acid Batteries Market by Type
10.4.6.2.3 Saudi Arabia Automotive Lead Acid Batteries Market by End-user
10.4.6.3 U.A.E Automotive Lead Acid Batteries Market
10.4.6.3.1 U.A.E Automotive Lead Acid Batteries Market by Product
10.4.6.3.2 U.A.E Automotive Lead Acid Batteries Market by Type
10.4.6.3.3 U.A.E Automotive Lead Acid Batteries Market by End-user
10.4.6.4 Rest of Middle East and Africa Automotive Lead Acid Batteries Market
10.4.6.4.1 Rest of Middle East and Africa Automotive Lead Acid Batteries Market by Product
10.4.6.4.2 Rest of Middle East and Africa Automotive Lead Acid Batteries Market by Type
10.4.6.4.3 Rest of Middle East and Africa Automotive Lead Acid Batteries Market by End-user
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Automotive Lead Acid Batteries Market Overview
10.5.2 South and Central America Automotive Lead Acid Batteries Market Forecasts and Analysis
10.5.3 South and Central America Automotive Lead Acid Batteries Market Forecasts and Analysis - By Product
10.5.4 South and Central America Automotive Lead Acid Batteries Market Forecasts and Analysis - By Type
10.5.5 South and Central America Automotive Lead Acid Batteries Market Forecasts and Analysis - By End-user
10.5.6 South and Central America Automotive Lead Acid Batteries Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Automotive Lead Acid Batteries Market
10.5.6.1.1 Brazil Automotive Lead Acid Batteries Market by Product
10.5.6.1.2 Brazil Automotive Lead Acid Batteries Market by Type
10.5.6.1.3 Brazil Automotive Lead Acid Batteries Market by End-user
10.5.6.2 Argentina Automotive Lead Acid Batteries Market
10.5.6.2.1 Argentina Automotive Lead Acid Batteries Market by Product
10.5.6.2.2 Argentina Automotive Lead Acid Batteries Market by Type
10.5.6.2.3 Argentina Automotive Lead Acid Batteries Market by End-user
10.5.6.3 Rest of South and Central America Automotive Lead Acid Batteries Market
10.5.6.3.1 Rest of South and Central America Automotive Lead Acid Batteries Market by Product
10.5.6.3.2 Rest of South and Central America Automotive Lead Acid Batteries Market by Type
10.5.6.3.3 Rest of South and Central America Automotive Lead Acid Batteries Market by End-user
11. INDUSTRY LANDSCAPE
11.1. MERGERS AND ACQUISITIONS
11.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
11.3. NEW PRODUCT LAUNCHES
11.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
12. AUTOMOTIVE LEAD ACID BATTERIES MARKET, KEY COMPANY PROFILES
12.1. CLARIOS.
12.1.1. Key Facts
12.1.2. Business Description
12.1.3. Products and Services
12.1.4. Financial Overview
12.1.5. SWOT Analysis
12.1.6. Key Developments
12.2. CSB ENERGY TECHNOLOGY CO.,
12.2.1. Key Facts
12.2.2. Business Description
12.2.3. Products and Services
12.2.4. Financial Overview
12.2.5. SWOT Analysis
12.2.6. Key Developments
12.3. ENERSYS.
12.3.1. Key Facts
12.3.2. Business Description
12.3.3. Products and Services
12.3.4. Financial Overview
12.3.5. SWOT Analysis
12.3.6. Key Developments
12.4. EAST PENN MANUFACTURING COMPANY
12.4.1. Key Facts
12.4.2. Business Description
12.4.3. Products and Services
12.4.4. Financial Overview
12.4.5. SWOT Analysis
12.4.6. Key Developments
12.5. EXIDE TECHNOLOGIES
12.5.1. Key Facts
12.5.2. Business Description
12.5.3. Products and Services
12.5.4. Financial Overview
12.5.5. SWOT Analysis
12.5.6. Key Developments
12.6. EXIDE INDUSTRIES LTD
12.6.1. Key Facts
12.6.2. Business Description
12.6.3. Products and Services
12.6.4. Financial Overview
12.6.5. SWOT Analysis
12.6.6. Key Developments
12.7. GS YUASA INTERNATIONAL LTD.
12.7.1. Key Facts
12.7.2. Business Description
12.7.3. Products and Services
12.7.4. Financial Overview
12.7.5. SWOT Analysis
12.7.6. Key Developments
12.8. JOHNSON CONTROLS.
12.8.1. Key Facts
12.8.2. Business Description
12.8.3. Products and Services
12.8.4. Financial Overview
12.8.5. SWOT Analysis
12.8.6. Key Developments
12.9. LEOCH INTERNATIONAL TECHNOLOGY LIMITED INC
12.9.1. Key Facts
12.9.2. Business Description
12.9.3. Products and Services
12.9.4. Financial Overview
12.9.5. SWOT Analysis
12.9.6. Key Developments
12.10. PANASONIC CORPORATION
12.10.1. Key Facts
12.10.2. Business Description
12.10.3. Products and Services
12.10.4. Financial Overview
12.10.5. SWOT Analysis
12.10.6. Key Developments
13. APPENDIX
13.1. ABOUT THE INSIGHT PARTNERS
13.2. GLOSSARY OF TERMS
1. Clarios.
2. CSB Energy Technology Co.,
3. ENERSYS.
4. East Penn Manufacturing Company
5. Exide Technologies
6. EXIDE INDUSTRIES LTD
7. GS Yuasa International Ltd.
8. Johnson Controls.
9. leoch International Technology Limited Inc
10. Panasonic Corporation
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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