February 23, 2023: European lead battery manufacturer Monbat has revealed plans to expand its market share over the next year, with supplying products for vehicles with start-stop systems designated a major business growth target.
The Bulgaria-based group said on February 22 it had called key representatives from its distribution network to a meeting a week ago to discuss strategic goals and the general vision for the development of the brand in 2023 and specifically on the domestic market.
Monbat product manager Radostin Simeonov presented a range of “new products and technological solutions”, emphasizing the specific business benefits both for light vehicles and heavy-duty vehicles, the company said.
Simeonov told the meeting the market for conventional starter batteries is expected to expand up to 2% in the short term, with batteries from the AGM and EFB ranges taking up an increasing share of total sales.
“This is because more and more cars have a start-stop system. Globally, growth expectations for AGM are between 10%-15% and for EFB batteries 5%-10%. That is why at Monbat we are constantly working to improve these batteries’ ranges so they can meet the modern needs of the market,” he said.
In addition to expanding market share, Monbat said the firm would hold regular talks with official partners and distributors as the it develops products.
Batteries International reported in December that Monbat was also preparing to unveil a range of energy storage systems for the industrial and residential markets.
The commercial director of Monbat’s industrial batteries division, Bozhidar Nekeziev, said the company intended to promote a range of BESS systems for the residential and small business sectors, deploying “traditional, well established lead-acid VRLA batteries” as well as lithium ion-based technologies.