START-STOP BATTERY MARKET ANALYSIS

Start-stop Battery MarketSize and Trends

Global Start-stop Battery Market - Insights

The global start-stop battery market is projected to exhibit a CAGR of 21.8% over the forecast period (2018-2025). In 2017, the global start-stop battery market generated revenue of US$ 6.05 billion and is expected to reach US$ 29 billion by 2025. Start-stop technology helps reduce the idling time of engines, by automatically shutting down and restarting the internal combustion engine of the vehicle, thus reducing the fuel consumption and emissions. The integration of start-stop technology in various automotive vehicles is increasing, in turn, posing as a major factor driving growth of the start-stop battery market. For instance, in 2016, General Motors announced that most of its vehicle models will be integrated with engine start-stop technology by 2020.

Increasing demand for start-stop technology by automotive manufacturers to reduce the CO2 emission to meet government standards of emissions is also accelerating growth of the start-stop technology. Rampant integration of new technologies to enhance fuel-efficiency of start-stop technology is further boosting growth of the start-stop battery market. For instance, in 2015, General Motors announced the integration of ultra-capacitor based voltage stabilization as part of the enhanced start stop system. This helped to reduce the fuel consumption, improve performance, and reduce harmful emissions.

Growing adoption of electric vehicles is boosting growth of the start-stop battery market

Among applications, the electric vehicles segment held a dominant position in 2017 and is expected to retain its dominance throughout the forecast period. In 2017, the electric vehicle segment generated revenue of US$ 4.2 billion, exhibiting a CAGR of 20.6% over the forecast period to reach US$ 18.8 billion by 2025. Increasing adoption of electric vehicles is one of the major factors driving growth of the segment. For instance, according to International Energy Agency, the global sales of new electric cars surpassed 1 million units in 2017, which was 56 percent sales growth of new electric car as compared to that in 2016. China held the largest market share of sales of electric cars in 2017.

Furthermore, increasing sales of electric busses and two wheelers have also increased the demand for start-stop technology, which in turn is fueling growth of the start-stop battery market. According to International Energy Agency, in 2017, the global sales of electric buses was 100,000 and electric two wheelers were 30 million.