Suryakant Gadekar

4 m

Supply & Demand Forecasts in the Automotive Lead Acid Sector 2028

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The automotive lead acid battery market in Europe is expected to grow from US$ 4,296.50 million in 2021 to US$ 5,732.39 million by 2028; it is estimated to grow at a CAGR of 4.2% from 2021 to 2028.

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The automobile industry is a cornerstone of Europe’s economic progress. The European Union is one of the leading global producers of vehicles, and the automotive sector is the largest private contributor to research and development (R&D), accounting for 29% of total R&D expenditure. The European Commission actively supports global technical harmonization and provides funding for R&D to enhance the competitiveness and innovation capacity of the EU automotive industry.

One of the key drivers of the European automotive lead-acid battery market is the robust automotive sector. As of October 2019, Europe had over 260 million passenger vehicles, 30 million buses, and 4 million trucks on its roads. Each year, the market sees the addition of around 15 million new cars and 200,000 to 220,000 new trucks, all of which rely on lead-acid batteries for starting, lighting, and ignition (SLI) functions.

Europe Automotive Lead Acid Battery Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Product (SLI and Micro Hybrid Batteries), Type (Flooded, Enhanced Flooded, and VRLA), and End User (Passenger Cars, LCV, and M&HCV) - Download Free PDF Brochure

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Europe Automotive Lead Acid Battery Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Product (SLI and Micro Hybrid Batteries), Type (Flooded, Enhanced Flooded, and VRLA), and End User (Passenger Cars, LCV, and M&HCV) - Download Free PDF Brochure

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The North America radiation-hardened electronics market is expected to grow from US$ 709.13 million in 2021 to US$ 931.19 million by 2028; it is estimated to grow at a CAGR of 4.0% from 2021 to 2028

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Space programs across developed and developing countries have experienced a rise in investment. This growth is attributed to the rise in initiatives by government bodies and huge investments made in developing new satellites for studying various aspects of space. Apart from space studies, satellites are actively being developed and launched to offer space-based internet services and navigation. The development of satellites has rapidly increased across the major countries. Since August 2020, SpaceX has produced 120 Starlink broadband satellites each month. SpaceX's goal is to establish an interconnected network of around 12,000 Starlink satellites that will broadcast high-speed internet from orbit to anywhere on the planet, attributing to the rise in the development of the satellites. Radiation-hardened electronics are actively used across satellites to protect them from solar flares and other harsh environmental conditions. Thus, the rise in satellite development across the region is fueling the demand for radiation-hardened electronics, thereby contributing to the market's growth.

With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the North America radiation-hardened electronics market. The North America radiation-hardened electronics market is expected to grow at a good CAGR during the forecast period.

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