The global lead-acid battery market is projected to witness a rapid growth during the forecast period. The growing demand for stationary lead-acid batteries in off-grid renewable energy generation power station is expected to enhance market size.
The global lead-acid battery market, by geography, is segmented into North America, Europe, Asia Pacific, and Rest of the World. As compared to other regions, the lead-acid battery market in the Asia Pacific is expected to witness a significant growth and hold the largest market share during the forecast period. China, India, and South Korea are anticipated to drive the growth of the North American lead-acid battery market owing to the presence of large number of established key players such as GS Yuasa Corp (Japan), Narada Power Source Co., Ltd. (China) and Leoch International Technology Ltd. (China), ATLASBX Co. Ltd. (South Korea) in this region. Due to the high adoption of a lead-acid battery in the automotive sector and the demand for battery in a commercial vehicle, passenger car, and the motorcycle industry in the region, the market is likely to show an immense growth in the coming future. Europe region is expected to show considerable growth on account of increasing number of offshore and onshore renewable energy industry in Germany, Italy, Sweden, and the U.K. Further, the well-established automotive industry is boosting the market in the region.
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In the global lead-acid battery market, Asia Pacific is anticipated to witness a relatively faster adoption at the highest CAGR during the forecast period as compared to other regions owing to the growing adoption of renewable products, emerging economies, and technological advancement in lead-acid battery in the region.
The global lead-acid battery market is projected to reach USD 86 billion at a CAGR of over 8% by the end of the forecast period 2017-2023.
The global lead-acid battery market is studied in Asia Pacific, North America, Europe, and Rest of the World. It has been observed that Asia Pacific region accounts for the largest share of the Lead Acid Battery Market. Owing to promising government regulations that encourage investments from public-private partnerships, foreign direct investments and emerging economies from developing nation such as China, India, and South Korea are expected to fuel the lead acid battery market. The European region is expected to show a considerable growth on account of increasing number of offshore and onshore renewable energy industry in Germany, Italy, Sweden, and the U.K. Furthermore, growing population and increasing disposable income of people in the region are likely to boost the demand for passenger cars, thereby aiding the market growth.
The global lead-acid battery market is segmented by product, construction method, and end-user. Based on the product segment, the market is segmented into stationary, motive, SLI. By construction method, the market is segmented into VRLA (valve-regulated lead-acid) and flooded. By the end-user, the market is segmented into stationary industrial, residential, commercial, automotive, telecommunication, transportation, oil & gas, electronics, and others.
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.
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