In 2016, North American aftermarket demand for automotive batteries totaled US$4.5 billion, more than three times larger than the next largest product category. Automotive batteries accounted for 54% of total regional demand for automotive batteries and ignition system components in 2016. This share of regional demand is up significantly compared to 2006, buoyed by trends toward higher-value absorbent glass mat (AGM) batteries and robust lead-acid battery price increases between 2006 and 2011. These and other trends are presented in Automotive Aftermarket for Batteries & Ignition System Components in North America, a new study from The Freedonia Group, a Cleveland-based industry research firm.
North American aftermarket demand for automotive batteries is forecast to expand 3.3% per annum through 2021 to US$5.3 billion, accelerating from the rate of the 2011-2016 period due to continued robust gains in aftermarket battery sales in the small, but rapidly expanding H/EV segment and steady gains in the large, well-established conventional automotive battery segment.
The US dominates North American aftermarket automotive battery demand, accounting for 84% of the regional total in 2016. The country’s leading position is due to its expansive light vehicle park and its larger stock of H/EVs, with a large concentration in California due to the state’s more stringent emissions and fuel economy standards. Through 2021, aftermarket automotive battery demand in the US is expected to advance 2.6% per year to US$4.4 billion. While this is the slowest average annual rate of advance of the North American countries, the US will nonetheless account for over two-thirds of demand gains through 2021 due to the large light vehicle stock, as well as the higher-value AGM lead-acid and Li-Ion batteries in conventional ICE vehicles and H/EVs, respectively.
Automotive Aftermarket for Batteries & Ignition System Components in North America (published 07/2017, 145 pages) is available for $4900 from The Freedonia Group. For further details or to arrange an interview with the analyst, please contact Corinne Gangloff by phone 440.684.9600 or email [email protected].
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