ALBANY, New York, Nov. 22, 2017 (GLOBE NEWSWIRE) -- The vendor landscape of the Africa lead acid battery is decently competitive and is led by a handful of players, including DIXON Batteries, Johnson Controls Inc., Exide Technologies, EnerSys, and First National Battery Ltd., observes Transparency Market Research in a recent report. Expansion to new application areas with high promise of growth and introduction of effective batteries at economical prices could be the key to success in the market.
The authors of the study expect the Africa lead acid battery market to exhibit a healthy 5.3% CAGR over the period between 2015 and 2021, rising to a revenue opportunity of US$1.0 bn by 2021.
Rising Demand across Automotive Sector to Set Tone for Reliable Growth
Lead acid batteries find vast applications, ranging from small batteries in hand tools to large batteries used in industries. Automotive electronics also make major use of lead acid batteries for a number of purposes. In the next few years, the Africa market for lead acid batteries will benefit significantly from its applications in the automotive sector in the next few years. Applications such as uninterruptible power supply (UPS) systems will also lead to promising growth prospects for the Africa UPS market in the next few years.
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Rising Demand for UPS Systems to Present Promising Growth Prospects for Market
Several factors are working in the favor of the Africa lead acid battery market. The leading ones to have a notable positive impact on demand include the steadfast economic development of the region over the years, rising disposable incomes, and the promising growth of the automotive sector. The vast rise in demand for passenger vehicles in the region in the recent years has created a massive growth opportunity for lead acid batteries, which continue to be the key variety of batteries for powering different kinds of vehicles in the region as well as on the global front.
The promising incremental opportunity has also led to the development of a lead acid battery manufacturing industry in the region, which is further expected to fuel the growth prospects of the Africa lead acid battery market in the next few years. Furthermore, the rising demand for UPS systems and inverters across households in the region will contribute to the development of the market in the years to come.
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Stringent Government Regulations Pertaining to Proper Disposable to Hinder Adoption of Lead Acid Batteries
The report states that the future growth prospects of the Africa lead acid battery market could be hindered to a certain extent in the next few years owing to strict government regulations pertaining to the proper disposal of lead acid batteries. Lead, the chief component of lead acid batteries is toxic for humans as well as for the environment. Thus, when not properly disposed, lead acid batteries could disrupt ecosystems and human health. Besides this, the demand for lead acid batteries in Africa could be hindered due to the introduction of several varieties of more effective batteries with lower levels of toxicity.
This review of the Africa lead acid battery market is based on a recent market research report by Transparency Market Research, titled “Lead Acid Battery Market (Type - Engine Starting, Motive Power, Standby Power, and Valve Regulated Lead Acid Battery; Application - Industrial, Automobile, Commercial, Residential, and Power) - Africa Industry Analysis, Size, Share, Growth, Trends, and Forecast 2015 - 2021.”
For the study, the market has been segmented as follows:
Africa Lead Acid Battery Market: By Type
- Engine Starting
- Motive Power
- Standby Power
- Valve Regulated Lead Acid Battery
Africa Lead Acid Battery Market: By Application
- Industrial
- Automobile
- Commercial
- Residential
- Power
Africa Lead Acid Battery Market: By Country
- Nigeria
- Egypt
- South Africa
- Kenya
- Ghana
- Zimbabwe
- Rest of Africa
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