All gadgets and electronic items require batteries when they are not connected to some power source. Among all batteries, the lead acid battery is one battery whose market is growing rapidly because it is considered useful and suitable for vehicles. Application of lead-acid batteries in energy storage application is expected to drive the market due to the development of commercial vehicles, motorcycle industry, and a passenger car. Uninterrupted Power Supply (UPS) is required in various sectors like chemical, healthcare, manufacturing and oil & gas. The growth of lead battery market is also boosted by factors like the emergence of vehicle charging infrastructure, execution of smart grid projects, increase in adoption of renewable energy systems, increasing distance of telecom towers and increasing usage of hybrid and electric vehicles. Also, the life of the lead acid battery is longer, and its cost of manufacturing is lower than the cost of batteries. Vehicles are expensive, and the high-cost batteries can make them more expensive. Therefore, lead-acid batteries are preferred over other batteries. Another plus point of lead acid batteries is that they can work in cold weather whereas many other batteries although claiming to last longer than lead-acid batteries cannot. Due to low cost, even military submarines also use lead acid batteries.
A report published by Market Research Future (MRFR), predicts that the Lead Acid Battery Market is likely to grow at 8% CAGR for the forecast period from 2017 to 2023. This report segments the global lead-acid battery market based on product, construction method, and end-user. Product-based segmentation segments the market into motive, SLI (Starting, Lighting, and Ignition) and stationary. Segmentation via construction method segments the market into flooded and VRLA (Valve Regulated Lead Acid). Segmentation by end-users comprises of stationary industrial, automotive, commercial, electronics, industrial, oil & gas, residential, telecommunication and transportation.
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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.
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.
- 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.
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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