Rising demand for critical and cost-effective power supply for critical power applications and Uninterrupted Power Supply for Industrial use will drive the market upwards.
Market Size – USD 61.74 Billion in 2018, Market Growth – CAGR of 5.4%, Market Trends – Rapid Industrialization in developing nations.
The Global Lead Acid Battery Market is expected to reach USD 95.32 Billion by 2026, according to a new report by Reports and Data. It is a rechargeable battery which can convert chemical energy into electrical energy. Rising demand for UPS systems and electric vehicles is fueling the market. Moreover, significant rise in demand from sectors such as automotive, healthcare, power, and telecom industries in developing nations is encouraging the growth of the market. Lead batteries have lower prices as compared to its competitors. Hence they are more commonly used and preferred.
APAC is expected to hold the largest market share, throughout the forecast period, owing to the large investments made in automotive, manufacturing, and healthcare, oil and gas, etc. Two wheelers are the major users of SLI (starting, lighting, ignition). Thus expansion of automobile sector has expanded the lead acid battery market. With low internet prices in recent years, India has the largest telecommunication market. With the rise in telecommunications and the internet, lead-acid battery is also forecasted to grow exponentially.
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Some of the players profiled in the report are Johnson Controls, Exide Technologies, GS Yuasa Corp, ATLASBX Co. Ltd., East Penn Manufacturing Co., Crown Battery Manufacturing, C&D Technologies, Inc., Narada Power Source Co. Ltd., Amara Raja Batteries Ltd., Leoch International Technology Ltd., among others
The Global Lead Acid Battery Market is segmented as follows:
Product Type Outlook (Revenue, USD Million; 2018-2026)
o Stationary
o Motive/Traction
o SLI
Construction Method Outlook (Revenue, USD Million; 2018-2026)
o VRLA
o Flooded
Application Outlook (Revenue, USD Million; 2018-2026)
o Telecommunication
o UPS
o Control & Switchgear
o Motive
o Automobiles
o Motorcycles
o Grid Storage
o Fork Lifts
End-Users Outlook (Revenue, USD Million; 2018-2026)
o Industrial
o Commercial
o Residential
o Marine
o Oil & Gas
Sales Channel Outlook (Revenue, USD Million; 2018-2026)
o Original Equipment Manufacturer
o Aftermarket Sales
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Further key findings from the report suggest
• Rising concerns for the environment has led to an increase in demand for e-bikes and electric vehicles, lower dependence on fuel technologies which in turn increase lead acid battery.
• In the product type segment, Motive/Traction lead-acid batteries have the largest market share of 35% in the year 2018 and are forecasted to grow till 36% in 2026.
• These motive or traction batteries are deployed in diverse vehicles like forklifts, minivans, tourists coaches, industrial trucks, golf carts, and e-bikes.
• SLI batteries offer low compatibility with smart vehicles, are low in cost and provide reliability. They are projected to hold a market share of 33% in the forecasted period of 2026.
• Stationary lead-acid batteries provide backup power, security system, emergency lighting, railway backup concerns, renewable energy concerns, etc. They have a market share of 31% in the year 2018 and has an annual growth rate of 5.4%.
• VRLA has a market share of 51% in the year 2018 and is forecasted to hold a market share of 53% in the year 2026 with an annual growth rate of 5.9%.
• Flooded lead occupy a market of 49% in the year 2018 and is forecasted to loose market due to its high maintenance. It is mainly used in industrial applications.
• APAC will have the largest market share of 29% in the year 2018 and is forecasted to hold 32% of the market by 2026. It has the highest growth rate of 6.7% in the forecasted year.
• North America has a market share of 23% in the forecast period of 2026 with an annual growth rate of 6.0%. The shifting trend of electric forklift across the globe, especially this region is expected to fuel the market.
• Europe has the same annual growth rate as of APAC, 6.7%, owing to the stringent government regulations. It is forecasted to occupy a market of 12% in the year 2026.
Market Segmentation by Regions:
• North America (U.S., Canada)
• Europe (U.K., Italy, Germany, France, Rest of EU)
• Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
• Latin America (Chile, Brazil, Argentina, Rest of Latin America)
• Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Key Point Summary of the Report:
The global Lead Acid Battery market research report is an investigative study offering key insights into the latest growth trends, developments, technological and product advancements, and the research and development scenario. The report also covers the market aspects that directly influence the growth of the market. These features include strategies undertaken by the prominent players, their expansion tactics, and the product portfolios of the companies, and micro and macro-economic factors.
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The study also analyses the crucial market aspects, including R&D, product launches and brand promotions, mergers and acquisitions, collaborations, joint ventures, and the growth pattern on both regional and global levels. The report offers an in-depth evaluation of factors such as cost, capacity, rates of production and consumption, gross revenue, profit margin, demand and supply ratio, import/export, market share, market size, and market trends.
The Global Lead Acid Battery Market includes relevant and verified information relating to the overall market, key players, and their market position and financial standing. The report utilizes advanced analytical tools such as SWOT analysis, Porter’s Five Forces Analysis, investment return analysis, and feasibility analysis to offer a comprehensive view of the market position of the major players of the industry.
Key Coverage of the Lead Acid Battery Market:
• Insightful information regarding the global Lead Acid Battery market
• Identification of growth in various segments and sub-segments of the Lead Acid Battery market
• Strategic recommendations for investment opportunities
• The report covers significant statistics related to the industry along with products, applications, price analysis, demand & supply, and production and consumptions rate
• Emerging trends and current market segment analysis to help investors formulate new business strategies
• Accelerates the decision-making process through the availability of the drivers and limitations
To summarize everything stated above, the report offers key insights into the Lead Acid Battery market to allow the reader to gain a complete understanding of the Global Lead Acid Battery Market through accurate estimations, a panoramic view of the market scenario, competitive landscape, factors influencing the growth of the market, driving factors, restraints, regulatory framework, growth prospects and opportunities, and factors propelling the market forward. The research study offers an in-depth view of the industry to offer a competitive edge to the reader and help them in formulating beneficial investment plans. The report provides a comprehensive overview of the market with facts relating to the past, present, and future of the Global Lead Acid Battery Market.
Global Lead Acid Battery Market: Table of Contents
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.3. Methodology
1.4. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2018-2026
Chapter 3. Indicative Metrics
Chapter 4. Lead Acid Battery Market Segmentation & Impact Analysis
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