Thu, 26 Nov 2020

Market Research Future published a research report on "Lead Acid Battery Market Research Report - Global Forecast To 2023" - Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023.

Market Highlights

Market Research Future (MRFR) expects the global lead-acid battery market to garner an approximate CAGR of 8% in the progress of the forecast period (2017-2023).

Growth Drivers & Key Challenges

The lead-acid battery is generally defined as the secondary cell that is rechargeable and is primarily used in cars and trucks. Other than these, the battery is most widely used in the power stations and substations as it has advanced cell voltage and lower cost. Due to these reasons, the market for a lead-acid battery is highly recognized resulting in substantial expansion.

The foremost factors driving the growth of the Lead Acid Battery Market are the development of the commercial vehicle, passenger car and motorcycle industry, and its use in energy storage applications. These are driving the market at a high rate that could gain more valuation during the forecast period. With this, the considerable demand for UPS in industries such as oil & gas, manufacturing, chemical, and healthcare is also boosting the market growth at present.

At the same time, other factors such as execution of smart grid projects, the emergence of vehicle charging infrastructure, swelling usage of hybrid and electric cars, rise in adoption of renewable energy systems and growing distance of telecom towers are some of the momentous factors boosting the market growth to a great extent which could take the market to expand more in the coming years.

On the other hand, the low cost allied with the manufacturing of the battery and its long-lasting performance is yet another factor to drive the market considerably.

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On the flip side, the factor of high lead content in the product might harm the environment, which is anticipated to hinder the market growth during the forecast period. Other factors such as the low energy density of these products, can also restrict growth. Yet, at the same time, the advent of alternatives such as the lithium-ion battery, which is being used highly in the automobiles industry presently, is therefore likely to substitute and challenge the market growth over the assessment period.

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:

As per the study directed by MRFR, the global lead-acid battery market has been segmented in terms of product, construction method, and end-user.

Segmentation by product line: Stationary, motive, SLI are the segments.

By construction method: VRLA (valve-regulated lead-acid) and flooded are the segments.

In terms of end-user: Stationary industrial, commercial, transportation, automotive, residential, telecommunication, oil & gas, electronics are the segments.

Regional Analysis:

The global lead-acid battery market, regionally, is studied in the critical regions of Asia Pacific, Europe, North America, and the Rest of the World.

The study depicts that the Asia Pacific region occupied the largest share of the lead-acid battery market. The growth of the market here owes to the promising government regulations that encourage investments from public-private partnerships, foreign direct investments. Even the emerging economies such as China, India, and South Korea are likely to fuel the lead-acid battery market.

The European region can also display a considerable growth in support of rising number of offshore and onshore renewable energy industry in countries like Germany, Italy, Sweden, and the U.K. Additionally, the rising population and swelling disposable income of people in this region are likely to lift the demand for passenger cars, thus aiding the market growth.

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Intended Audience

  • Technology Investors
  • Research/Consultancy firms
  • Technology Solution Providers
  • Original Equipment Manufacturers
  • Automotive manufacturers
  • Chemical Solution Providers

About Us:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

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Contact Information:

Market Research Future

Office No. 528, Amanora Chambers

Magarpatta Road, Hadapsar,

Pune - 411028

Maharashtra, India

+1 646 845 9312


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