TechNavio recognizes the following companies as the key players in the Global Automotive Battery Market: East Penn Manufacturing Company Inc., Exide Technologies, GS Yuasa Corp., and Johnson Controls Inc.
Commenting on the report, an analyst from TechNavio’s team said: “Fuel cell technology is expected to create a revolutionary change in the Global Automotive market due to the output efficiency and the reduction in the pollution caused by these cells. Fuel cells are constructed by harmless products such as hydrogen and oxygen to produce the required power. As the working principle of this cell is similar to the existing automotive battery technology, adaptation of this technology by the manufacturers will be an easy task. Also, the quality of output produced by this technology is expected to have a high impact on the Global Automotive Batteries market.”
According to the report, one of the main drivers is the increasing R&D investment by the manufacturers. The R&D in an industry helps the overall market to improve in revenue and profits. The investment in the research plays a crucial role in producing innovative products such as EVs and hybrid vehicles.
Further, the report states that one of the main challenges is the slow acceptance of EVs in the global market. The manufacturers and the researchers invested a large amount of money in developing new technology such as EVs. However, due to several reasons such as lack of product knowledge, ambiguity about the recharging systems and others, consumers were reluctant to purchase these EVs, resulting in their slow acceptance in the global market.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors. For further information on this report, please visit https://www.technavio.com/report/global-automotive-battery-market-2012-2016
TechNavio, the market research platform of Infiniti Research Ltd., publishes periodic market research reports on niche and emerging technologies. For more information on our market research, please visit https://www.technavio.com/automotive-and-aerospace
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TechNavio Announces the Publication of its Research Report -Global Automotive Battery Market 2012-2016
