Global Market Insights, Inc. recently introduced new title on 2018-2024 Automotive Battery Plate Market Report from its database. The report provides study with in-depth overview, describing about the Product, Industry Scope and elaborates market outlook and status to 2024.
Automotive Battery Plate Market based on product is used with batteries such as lithium ion, solid state, Nickel cadmium, nickel metal hydride, aluminum ion, lithium sulfur, and metal air. Lithium ion is majorly used in electric vehicles and estimated to remain dominant during the projected time frame. Solid state provides advantages such as flame resistance, extended lifetime, less need for expensive & bulky cooling, and operate in high temperatures. Automobile manufacturers such as Volkswagen and Toyota are focusing on solid state products to power their electric cars.
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Lithium ion is the most widely used chemical in the existing products. The plates immersed in acids reacts and generates electricity. Over a time period the battery loses water and leads to warpage of the plates. When the driver starts engine, heavy power demand may cause the warped plates to spark thereby leading to automobile explosion. The National Highway Traffic Safety Administration (NHTSA) observed many injuries due to several similar explosions. The related accidents may hamper the automotive battery plate market growth rate.
Asia Pacific automotive battery plate market is the largest auto industry in the world. In China, the industry growth is attributed to its huge population coupled with rising per capita income for personal transportation that cannot be met using traditional technologies. The vehicle production is expected to grow over 40 million by 2025. China holds the largest automotive battery plate market owing to increasing adoption rate for electric vehicles and hybrid electric vehicles. In 2016, over 500,000 were sold in China which indicates 53% increase from the previous year.
In 2016, 222,000 electric vehicles were sold in Europe and over 157,000 EVs and PHEVs in the U.S., a 36% rise from prior year. Auto penetration in Europe is expected to grow in the projected time frame.
Product advancements will accelerate the electric vehicle adoption rate world-wide. Improvements in current battery regulation, new association guidelines, testing protocol, impact of mechanical deformation, and preventing over charging & thermal runaway may enhance the technical specifications. Battery regulation and safety testing may offer certain automotive battery plate market growth opportunity.
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Increased automobile production is expected to boost the global automotive battery plate market. OEMs are engaged in expanding their manufacturing facilities in a region where the labor cost is cheap and easily available. Increasing sales of commercial vehicles will lead to industry growth.
Technological advancements may enhance the technical specifications of the battery plate used in automobiles to offer light weight model, low cost, and long sustainability in chemicals. For instance, ElectriPlast bi-polar plate will serve the purpose of high performance, cost efficiency, and efficacy. The added features include high temperature stand loss, capacity at rate, and life cycle. Servo mount and carbon fibre battery plate offer improved specifications. These enhanced features of the product may spur the demand for automotive battery plate market globally.
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Players of the automotive battery plate market are Everlite, Exide technologies, Amtek Batteries, V.B. Corporation, ElectriPlast Corp., and NIPPON DENSO.