In the current era of mobility, automakers are making significant changes in automotive designs to attain improved comfort and safety of the driver as well as passengers. A majority of these design changes include adaptive cruise control, electric power steering, road condition monitoring, and related features. This electrification of vehicles includes various add-on automotive components and parts, which require a suitable source to cater to the energy requirements. As such, there is high demand for efficient automotive batteries across various vehicle segments such as commercial vehicles as well as passenger vehicles, to meet the desired energy requirement. These batteries supports the energy needs of various electrical components along with the basic starting lighting and ignition (SLI). On the back of these factors, the ANZ automotive battery market is set for decent growth over the next decade.
Growing Acceptance of Electrical Vehicles to fuel ANZ Automotive Battery Market Growth
In recent years, the world has witnessed high penetration of electric vehicles, owing to improved performance along with minimum emissions. Australia and New Zealand are taking steps forward toward e-mobility at a significant growth rate. These electric and hybrid vehicles utilize lithium-ion batteries that have technological advancements such as high energy density, wide application scope, and small battery size as compared to other battery types. Along with that, li-ion batteries have a faster charging rate, high cyclic capacity, and an extensive service life, which makes them a reliable and safe power source for electrical vehicles. Increasing usage of electric vehicles is expected to support the growth of the ANZ automotive battery market space in the near future.
Growing Charging Infrastructure to Cater to Changing Requirements of Vehicles
While Australia still trails behind global leaders in electric vehicle uptake, a number of small but important shifts across a range of electric vehicles have been witnessed. The number of charging stations in Australia has also substantially increased, with a 64 percent increase from 2017 to 2018. This currently equates to approximately one charging station for every six electric vehicles. It is expected that this ratio will change as the number of electric vehicles increases from current levels. Forty more electric vehicle charging stations were installed by mid-2018.
Building Proprietary Channels or Partnering with e-Commerce Service Providers for Increasing Customer Reach
From the past few years, a majority of automotive aftermarket accessories and parts have been sold through online e-Commerce platforms - mass e-retailers such as eBay, Amazon, etc. The preference toward purchasing automotive parts and accessories through online platforms is gaining traction across Australia as well as New Zealand. Automotive batteries are one of the leading automotive components that are purchased through online e-Commerce platforms. Additionally, ANZ automotive battery market participants are launching their own e-Commerce platforms to effectively reach to more end consumers, effective supply chain management, and to increase their sales footprints. Launching of e-Commerce platforms by market participants is a key trend shaping the growth of the ANZ automotive battery market.
ANZ Automotive Battery Market: Structure Analysis
The ANZ automotive battery market is a fairly fragmented market, in which tier-1 players account for around 25% of market share. Around 75% of the market share is catered through tier-2 and unorganized players across the ANZ automotive battery market. Key market players are in the process of expanding their production facilities throughout Australia and New Zealand. For instance, in January 2020, GS Yuasa International Ltd. announced that it has decided to expand its production capacity for lithium-ion batteries that are used in hybrid vehicles, the demand for which is expected to increase from 2021. However, the COVID-19 crisis is expected to limit the production capabilities of the market players for the time being, and the market is estimated to witness a significant slowdown till 2021.
As per PMR, The ANZ automotive battery market is estimated to witness significant growth over the coming years, owing to the positive outlook of the automotive aftermarket industry and increasing electrification of vehicles in Australia and New Zealand. The demand for lithium-ion batteries will grow over the coming years, owing to increasing number of electric vehicles on the roads and the technical advantages of these batteries over other type. Launching online sales platforms will be a key business strategy for players to attain a competitive advantage in the ANZ automotive battery market space.
ANZ Automotive Battery Market – Report Scope
Persistence Market Research (PMR) recently published a study report on the ANZ automotive battery market. The report provides detailed valuation on key market dynamics, such as the drivers, trends, opportunities, and restraints, along with detailed information about the ANZ automotive battery market structure. This market report presents exclusive facts and figures about how the ANZ automotive battery market is expected to grow over the forecast period of 2020-2030.
Key indicators of market growth, such as value chain analysis and supply chain, compounded annual growth rate (CAGR), and year-on-year (Y-o-Y) growth of the market are explained in PMR’s report in a comprehensive manner. This information helps readers understand the quantitative development projections of the ANZ automotive battery market over the forecast period.
The study is relevant for stakeholders in the ANZ automotive battery market, such as manufacturers, distributors, suppliers, and investors, as it can help develop effective strategies for growth. Stakeholders, investors, industry experts, researchers, and journalists, as well as business researchers in the ANZ automotive Battery market can leverage the information and statistics presented in PMR’s market report.
The report includes facts & figures related to the macro- as well as micro-economic factors that are impacting the growth of the ANZ automotive battery market. The study also offers actionable insights based on the trends in the ANZ automotive battery market. Furthermore, regional players and new entrants in the ANZ automotive battery market can also use the information presented in this report to make winning business decisions and gain momentum in the market.
Key Segments of ANZ Automotive Battery Market
PMR’s report divides the ANZ automotive battery market into four significant segments - battery type, vehicle type, sales channel, and country. This report offers comprehensive data and information about important market dynamics and growth parameters related to these categories.
Key Questions Answered in PMR’s ANZ Automotive Battery Market Report
ANZ Automotive Battery Market: Research Methodology
In PMR’s research report, an exclusive research methodology is utilized to conduct comprehensive research on the development of the ANZ automotive battery market to reach conclusions on the future growth prospects. In this research methodology, secondary and primary research is utilized by our analysts to ensure precision and reliability of the conclusions.
Secondary resources are referred to by analysts during the evaluation of the ANZ automotive battery market, which comprises facts and figures from the World Bank, OEM websites, government websites, white papers, trade journals, and external and internal databases. Analysts have thoroughly interviewed several industry experts, such as sales supervisors, sales operation managers, product portfolio managers, senior managers, market intelligence managers, marketing/product managers, and production managers, to provide insightful information.
Comprehensive information acquired from primary and secondary resources is validated from companies operating in the ANZ automotive battery market to make PMR’s projection on the growth prospects of the market more accurate and reliable.