Market Synopsis:
As per the analysis offered by Market Research Future, the global lead acid battery market signifies expansion opportunities and is expected to strike a CAGR of 8% during the forecast period 2017 to 2023. The driving force of the market is poised to be the rising lead acid battery demand from the automotive sector.
The commercialization witnessed in the transportation industry is anticipated to favor the expansion of the lead acid battery market over the next couple of years. In addition, the launch of new motorcycles due to its rising demand is likely to aid the proliferation of the market in the foreseeable future.
The rapid industrialization is also expected to have an optimistic influence on the growth of the lead acid battery market in the forthcoming years. An upsurge in demand for these batteries is expected from the industrial sector for UPS which is presumed to catapult the market on an upward trajectory.
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The paradigm shift witnessed towards the adoption of renewable energy is anticipated to work in favor of the growth of the lead acid battery market through the assessment period. It is in excessive demand for the execution of smart grid projects. On the flip side, the large-scale adoption of lithium-ion batteries as an alternative is poised to hinder the proliferation of the lead acid battery market over the projection period.
Industry News
In February 2019, ENGIE Green Mobility, Amsterdam, has started a pilot for determining the value that exists in second life batteries, in addition to analyzing the battery chemistry in lead-acid batteries. The company has found that the spent lead-acid batteries are cost effective and also hold a lot of storage value when they are discarded with 80% of their storage capacity remaining.
Key Players
Some of the prominent players in the global Lead Acid Battery Market: Johnson Controls (U.S), ATLASBX Co. Ltd. (South Korea), Exide Technologies (U.S.), East Penn Manufacturing Co. (U.S.), NorthStar (Sweden), Crown Battery Manufacturing (U.S.), C&D Technologies, Inc. (U.S.), GS Yuasa Corp (Japan), Narada Power Source Co., Ltd. (China) and Leoch International Technology Ltd. (China) and others.
Market Segmentation:
- Based on the product, the lead acid battery market has been segmented into stationary, motive, SLI.
- By construction method, the global lead acid battery market has been segmented into VRLA (valve-regulated lead-acid) and flooded.
- By the end-user, the lead acid battery market has been segmented into residential, commercial, automotive, stationary industrial, telecommunication, oil & gas, electronics, transportation, and others.
Regional Analysis:
The geographical study of the global lead acid battery market spans across Asia Pacific, North America, Europe, and Rest of the World. Asia Pacific offers attractive opportunities for the growth of the market and is likely to dominate the global market over the next few years. The favorable government regulations and rising demand from end-user industries are poised to drive the growth of the lead acid market in the region. The fast-developing country-level markets such as China, India, and South Korea are anticipated to expedite the expansion of the lead acid market in the foreseeable future.
The growth of the renewable energy industry in Europe has unleashed immense growth potential for the market. It is poised to augment the lead acid battery market in the region for the next couple of years. Germany, Italy, Sweden, and the U.K. are projected to contribute significantly towards the development of the market in the region.
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Intended Audience
- Technology Investors
- Research/Consultancy firms
- Technology Solution Providers
- Original Equipment Manufacturers
- Automotive manufacturers
- Chemical Solution Providers
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