Shifting focus from traditional batteries towards the adoption of green energy technologies is a key factor expected to accelerate Europe automotive start-stop battery market over the forecast period. In recent years, energy-efficient vehicles have significantly gained prominence in the automobile sector. Automakers in the region are striving to roll out vehicles that produce low carbon emissions. Europe automotive start-stop battery market is expected to record significant strides on this ongoing trend.
Besides, the implementation of strict government norms related to carbon emission coupled with the ongoing initiative to decarbonize, the European economy may further improve demand for automotive start-stop batteries in the region. Moreover, the burgeoning demand for private mobility across the region may further accelerate the market demand over the forecast period.
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Studies conducted at Global Market Insights Inc. suggest that Europe automotive start-stop battery market is expected to record annual installation of more than 20 million units by 2026.
The key trends that are likely to contribute to market growth are as follows:
Increasing demand for valve-regulated lead-acid (VRLA) batteries
In recent years, Valve regulates lead-acid (VRLA) batteries have been witnessing increasing demand from automakers owing to their ease of installation and high-power density. Cutting-edge batteries such as the AGM (Absorbed Glass Mat) have significantly gained prominence in the automobile sector. A longer life cycle and high reliability in extreme climatic conditions are some of the major underlying parameters that will accelerate the demand for VRLA batteries over the forecast period.
Increasing adoption of Hybrid Electric Vehicles (HEVs)
Over the past few years, HEVs have been gaining significant popularity in Europe owing to increasing focus on reducing fuel consumption of vehicles. Government agencies in the region have been offering numerous incentives including tax benefits, subsidies, and investment toward charging infrastructure, which in turn will accelerate the demand for HEVs. The Europe automotive start-stop battery market is expected to witness significant strides on the back of this going trend.
Expanding the automobile sector in France
On the regional front, France is anticipated to offer lucrative growth opportunities to Europe automotive start-stop battery market. This growth can be attributed to the expanding automobile sector in the region. Changing market dynamics and regulatory norms have supported the regional automobile industry.
Burgeoning sales of traditional and hybrid vehicles have significantly accelerated the demand for start-stop batteries as these systems can effectively aid and offset the high energy requirements of cutting-edge vehicle technologies.
The strong presence of industry participants
While talking about the competition landscape, it is pivotal to mention that Europe automotive start-stop battery market has a strong presence of industry participants. Notably. Companies such as NorthStar Battery Company LLC, GS Yuasa Corporation, Crown Battery Manufacturing Company, Exide Technologies, Enersys, and Clarios are currently at the forefront of Europe automotive start-stop battery market.
The introduction of numerous regulatory mandates related to carbon emission and the deployment of energy efficient systems has prompted these companies to roll out innovative products.
Companies are investing heavily in research and development activities to offer reliable, good battery capacity, and cost-efficient batteries. With innovations like the aforementioned, it comes as no surprise that Europe automotive start-stop battery market will record lucrative proceeds over the forecast period.
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