Stringent Environmental Norms To Favor Europe Automotive Start-Stop Battery Market Outlook By 2026
The Europe automotive start-stop battery market is poised to record considerable growth on account of growing inclination towards energy efficient technologies. Consumers nowadays are willing to spend more on greener battery solutions owing to rising environmental concerns.
Proliferating demand for fuel-efficient vehicles coupled with mounting awareness towards the reduction of hazardous vehicular emission could stimulate the demand for start-stop batteries. On this note, Global Market Insights, Inc., estimates that the Europe automotive start-stop battery market could see annual installation of more than 20 million units by the year 2026. Increasing adoption of stern regulatory policies centered around curbing carbon emissions has encouraged numerous public and private organizations to launch decarbonization initiatives in the EU. Such initiatives may massively benefit the automotive start-stop battery industry.
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Hybrid electric vehicles (HEVs) have gained significant traction as a result of proliferating demand for fuel-efficient automobiles. These vehicles are among high demand across European countries as the region shifts towards more sustainable economy. Introduction of multiple government incentives like tax benefits and subsidies along with surging investments toward the development of charging infrastructure could boost the adoption of HEVs which, in turn, might accelerate the demand for start-stop batteries in the region.
The COVID-19 pandemic has caused a rapid decline in sales of start-stop batteries given to severely impact adhered by the European automotive sector. The pandemic has dented both the demand and supply of automobiles. Automakers in Europe are forced to shut down their manufacturing plants to ensure safety of their employees and curb the spread of the virus. In addition to this, consumers are preferring to spend more on essential products rather than luxurious goods like automobiles. These elements could adversely affect the demand for start-stop batteries in Europe.
In terms of end use, the automotive start-stop battery market is mainly bifurcated into light commercial vehicles and passenger vehicles. Imposition of stringent carbon emission standards coupled with increasing development of advanced propulsion solutions could play a vital role in stimulating the deployment of start-stop batteries in passenger vehicles. The European market is steadily shifting towards complete transition towards adopting low emission vehicles.
While companies operating in the Europe automotive start-stop battery market are concentrating on developing new technologies and products to enhance the overall functionality of these batteries. Citing an instance, earlier in January 2020, Bosch released its new range of commercial-vehicle batteries which now come with the new TA AGM 12-volt starter battery.
Currently, companies like Exide Technologies, Clarios, Crown Battery Manufacturing Company, Enersys, NorthStar Battery Company LLC, and GS Yuasa Corporation are leading the industry landscape with their innovative and eco-friendly products.
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