Selbyville, Delaware, March 29, 2021 (GLOBE NEWSWIRE) -- According to reliable estimations, global lead-acid battery industry size had reached a valuation of USD 47605 million in the year 2018 and is likely to account for USD 62603 million by 2027, registering a compound annual growth rate of 3.10% during the study duration, which is 2019-2027. Beneficial attributes associated with lead-acid batteries such as low costs and high sustainability coupled with increasing demand for hybrid electric vehicles are fueling the market size.
Apart from this, the study scrutinizes the market space by elaborating on its different segmentations. A dynamic regional analysis alongside details of the competitive arena are also provided in the research report, further allowing for well-informed decisions and ensuring high profitability among investors.
For the uninitiated, lead-acid batteries consist of an electrolyte that can store electrical energy, and hence are also known as wet batteries. The product is known to provide high current surges regardless of the fact that it has low energy-to weight as well as energy-to-volume ratios.
Advantageous properties such as low costs and high sustainability of lead-acid batteries have propelled their adoption rates in the automotive sector. In addition, shifting preferences towards renewable energy production coupled with widespread adoption of SLA batteries across data centers are contributing towards global lead-acid battery industry remuneration.
Despite the several growth stimulants, rising concerns regarding lead pollution and modest growth of the automotive sector could potentially act as a restraining factor to the overall market expansion.
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Highlighting the geographical landscape
The global scope of operations has been regionally fragmented as North America, Latin America, Europe, Middle East & Africa, and Asia-Pacific.
North America
As per credible estimations, North America lead-acid battery industry share is likely to showcase a y-o-y growth rate of 2.75% between 2019 and 2027. Mounting number of data centers owing to rising adoption of IoT (Internet of Things) solutions are facilitating the business scenario in North America.
Latin America
Latin America market size is set to record a 2.09% CAGR through 2027, primarily driven by rapid expansion of automotive sector. Various automakers are lately focusing on establishing their production units in the region. Additionally, since lead-acid batteries are used in UPS systems to store energy, increasing proliferation of data centers are complementing the regional market outlook.
Europe
Europe lead-acid battery industry share is expected to register a CAGR of 2.68% during 2019-2027. Increasing production and sales of automobiles coupled with high concentration of major automakers are leading to a revenue spike for the Europe market.
Asia-Pacific
Lead-acid battery industry size in Asia-Pacific is anticipated to witness a compound annual growth rate of 3.51% through 2027. Proliferating number of data centers have impelled the demand for lead-acid batteries, which in turn is swaying the business dynamics in Asia-Pacific.
Global Lead-Acid Battery Market Product Varieties (Revenue, USD Billion, 2019-2027)
- Micro Hybrid Batteries
- SLI Batteries
Global Lead-Acid Battery Market by Type (Revenue, USD Billion, 2019-2027)
- Enhanced Flooded Batteries
- VRLA Batteries
- Flooded Batteries
Global Lead-Acid Battery Market End-User Spectrum (Revenue, USD Billion, 2019-2027)
- UPS
- Telecommunication
- Automotive
- Others
Global Lead-Acid Battery Market by Geographical Reach (Revenue, USD Billion, 2019-2027)
North America
- Canada
- United States
Latin America
- Mexico
- Brazil
- Rest of Latin America
Europe
- Russia
- Italy
- Spain
- France
- Germany
- United Kingdom
- Rest of Europe
Middle East & Africa
- South Africa
- Saudi Arabia
- Turkey
- UAE
- Rest of Middle East & Africa
Asia-Pacific
- India
- China
- Japan
- Australia & New Zealand
- Rest of Asia-Pacific
Global Lead-Acid Battery Market Competitive Outlook (Revenue, USD Billion, 2019-2027)
- Reem Batteries & Power Appliances SAOC
- Zibo Torch Energy Co. Ltd.
- Toshiba Corp.
- NorthStar
- PT Nipress Tbk
- Narada Power Source Co. Ltd.
- Johnson Controls Battery Group Inc.
- GS Yuasa Corporation
- Exide Technologies LLC
- EnerSys
- East Penn Manufacturing Co.
- CSB Energy Technology Co. Ltd.
- Crown Battery
- C&D Technologies Inc.
- BB Battery Co. Ltd.
Table Of Content:
1. Global Lead-Acid Battery Market – Summary
2. Industry Outlook
2.1. Market Definition
2.2. Key Insights
2.2.1. Reliable Performance Of Lead-Acid Batteries Increases Their Sales
2.2.2. Low Energy Density Of Lead-Acid Battery Reduces Their Selling Potential
2.2.3. Vrla Batteries Are Fastest-Growing Lead-Acid Batteries By Type
2.3. Evolution & Transition Of Lead-Acid Battery
2.4. Porter’s Five Forces Analysis
2.4.1. Threat Of New Entrants
2.4.2. Threat Of Substitute
2.4.3. Bargaining Power Of Suppliers
2.4.4. Bargaining Power Of Buyers
2.4.5. Threat Of Competitive Rivalry
2.5. Key Impact Analysis
2.5.1. Application
2.5.2. Cost
2.5.3. Life Span
2.6. Market Attractiveness Index
2.7. Vendor Scorecard
2.8. Industry Components
2.9. Regulatory Framework
2.10. Market Drivers
2.10.1. Comparatively Low Cost
2.10.2. High Sustainability As Compared To Alternative Products
2.10.3. Growing Demand From Hybrid Electric Vehicles
2.11. Market Restraints
2.11.1. Slowdown In Automotive Sector
2.11.2. Increasing Lead Pollution
2.12. Market Opportunities
2.12.1. Growth Of Off-Grid Renewable Energy Generation
2.12.2. Increasing Use Of Sla Batteries In Data Centers
2.13. Market Challenges
2.13.1. Adoption Of Dry Batteries
3. Global Lead-Acid Battery Market Outlook – By Product
3.1. Sli Batteries
3.2. Micro Hybrid Batteries
4. Global Lead-Acid Battery Market Outlook – By Type
4.1. Flooded Batteries
4.2. Enhanced Flooded Batteries
4.3. Vrla Batteries
5. Global Lead-Acid Battery Market Outlook – By End-User
5.1. Automotive
5.2. Telecommunication
5.3. Ups
5.4. Others
6. Global Lead-Acid Battery Market – Regional Outlook
7. Competitive Landscape
7.1. B.B. Battery Co.
7.2. C&D Technologies, Inc. (Acquired By Kps Capital Partner)
7.3. Crown Battery
7.4. Csb Battery Company Ltd. (Acquired By Hitachi Chemical Energy Technology)
7.5. East Penn Manufacturing
7.6. Enersys
7.7. Exide Technologies, Inc.
7.8. Gs Yuasa Corporation
7.9. Clarios (Formerly Johnsons Controls Power Solutions)
7.10. Narada Power Source Co., Ltd.
7.11. Nipress
7.12. Northstar
7.13. Toshiba Corporation
7.14. Zibo Torch Energy Co., Ltd.
7.15. Reem Batteries & Power Appliances Co. Saoc
8. Research Methodology & Scope
Related Report:
Lead Acid Battery Market Size, Industry Analysis Report, Regional Outlook, Application Potential, Price Trend, Competitive Market Share & Forecast, 2020 - 2026
The lead acid battery market size is estimated to record momentous gains over the forthcoming timeframe owing to the increasing vehicle sales, and growing product demand in high storage devices, and automotive industry among others. This battery technology utilizes lead peroxide and sponge lead for the transformation of the chemical energy into electrical power and is one of the most commonly used batteries in the world. A lead acid battery is utilized as a system for energy storage and is deployed across various applications as a power source. This in turn is positively influencing the lead acid battery market share on the global scale. These batteries consist of a sulfuric acid solution electrolyte with lead dioxide cathode and sponge metallic lead anode making these units rechargeable. Large electrolyte reserves, resistance to corrosion and low discharge rate are few of the key features demonstrated by lead acid battery units which subsequently complements its market outlook.
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