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The EFB battery segment is poised to exhibit 4% growth rate through 2032. EFBs (Enhanced Flooded Batteries) is the upgraded version of flooded batteries that are extensively used in new vehicle models with automatic start-stop systems. These batteries offer a wide variety of benefits such as augmented deep & partial discharge performance, lower emissions, and fewer maintenance requirements. Automobile manufacturers earlier relied on AGM technologies to power start-stop vehicles.
The conventional vehicle segment is expected to record substantial growth during the forecast period, owing to the surging use of start-stop batteries in internal combustion engine (ICE) powered vehicles. Increasing focus on fuel conservation and energy-efficient technologies should boost the addition of start-stop batteries in conventional vehicles in Europe. These batteries can reduce emissions and fuel usage whilst saving on running costs. The availability of limited charging stations for electric vehicles in Europe will support the industry growth.
In terms of end-use, the Europe automotive start-stop battery market revenue from passenger vehicles segment is estimated to reach more than USD 3 billion by 2032, attributed to rising technological advancements by automakers to enhance the energy efficiency and comfort of vehicles will foster the deployment of start-stop battery systems in passenger vehicles. A solid rise in disposable income in EU countries has fueled the sales of passenger cars. According to the Society of Motor Manufacturers & Traders (SMMT), passenger car sales in the UK increased by 26.4% to 134,344 units in October 2022.
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Germany automotive start-stop battery market size accounted for USD 500 million in 2022. Ongoing R&D initiatives focusing on the development of next-generation energy-efficient starter batteries will offer significant business prospects for the deployment of AGM and EFB batteries. For instance, in January 2022, German automaker Volkswagen and Bosch joined forces to set up a joint venture by the end of this year with the aim of making Europe self-sufficient in battery production. Additionally, stringent government policies to reduce the environmental degradation caused by used lead will escalate the aftermarket demand for new batteries.