The global lead acid battery market is expected to grow at a considerable rate during the forecast period owing to the growing consumption of power due to rapid urbanization and increasing adoption of electric and hybrid vehicles across the globe. The report, “Global Lead-Acid Battery Market Research Report- Industry Analysis, Size, Share, Growth, Trends and Forecast” added by DecisionDatabases.com provides a comprehensive analysis including market value, forecasts, as well as a detailed competitive market analysis of major players. The report anticipates the rising usage of various electronic devices such as PC, TV and other items across numerous industry verticals including educational, residential and commercial sector to aid in the growth of the market. Furthermore, rising preference for UPS and uninterrupted power supply devices in various sectors such as Oil & Gas, healthcare & chemical, in order to get elevated power density and extensive life expectancy will boost market demand in the near future.
Increasing application scope of these batteries by numerous end-use industries along with other motive functions such as railroad, mining, and forklifts vehicles are anticipated to foster industry growth in the study period. Growing automobile industry coupled with rising application of varied energy storage solutions will have a positive impact on the market growth. Rising government initiatives and favorable incentives for the growth hybrid & electric vehicles will open new avenues for the growth of the market. However, growing demand for the lithium-ion batteries as an alternative power resource, rising environmental concern regarding the high lead content and high risk of explosion by overcharging are major challenges, which may hamper market growth over the forecast period. Growing corrosion issue of external metal parts of the battery will negatively impact the market demand in the study period. The report offers details about the drivers, restraints and growing opportunity in the industry.
The report incorporates the lead acid battery market analysis on the basis of type and application. On the basis of type market is segmented into engine starting, motive power, standby power and valve regulated lead acid battery (VRLA). VRLA is a major type segment and is anticipated to witness a significant growth over the forecast period owing to its rising application in engines, UPS systems, security systems, cell phone towers, backup power, radio communication systems and emergency lighting systems due to its less maintenance cost and easy installation. Furthermore, the market has been segmented based on application into industrial, automobile, commercial, residential and power. The automobile segment is the fastest growing segment and is projected to show a double-digit growth in the study period on account of its developing automobile industry along with the growing requirement in forklifts applications, as transit and trading hubs for logistic vehicle across the globe.
Asia Pacific is a fastest growing market and is estimated to continue its dominance during the forecast period owing to rising adoption of UPS solutions, a rapid development of IT sector and data centers, rising energy storage technologies and presence of favorable government initiatives to promote huge investments in manufacturing sectors. Europe is expected to witness a substantial growth over the coming years due to rising investments in technological innovation along with growing demand for e-bikes, cranes, and forklift in the region.
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The key industry players include Enersys, Exide Technology, Johnson Controls Inc. and Dixon batteries. The global market is highly competitive due to the presence of a large number of global, local, and regional vendors. Major players are focusing on technological advancement and product development to have a high market penetration.
In June 2014, GS Yuasa Battery Ltd., a consolidated subsidiary of GS Yuasa Corporation has launched an “ECO. R Hybrid Series” lead-acid auxiliary battery for Toyota Motor’s Hybrid Vehicles
In Jan 2016, Greenvision Technology, an Indian firm has introduced a lead-acid battery for the electric rickshaw market.
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