(MENAFN – GetNews) According to new report available with Million Insights, the United States automotive battery aftermarket industry research report offers complete analysis of growth driver, distribution channel, competitive landscape and scope. This enables numerous opportunities for the market players to invest in research and development.
The U.S. automotive battery aftermarket size is estimated to reach USD 4.2 billion, by 2025, and is projected to grow at a CAGR of 1.4% from 2018 to 2025, according to a new report by Million Insights. The increasing demand for electric vehicle is expected to be a key factor fostering growth of the market.
Growing trend of hybrid electric vehicle (HEV) along with increasing number of charging points is projected to bode well in the market growth during the forecast period in the report. Low running cost associated with electric vehicle when compared with conventional vehicles is boosting the growth of batteries. Additionally,