Lead Acid Battery Market Size, Opportunities, Trends, Growth Factors, Revenue Analysis, For 2030
The Lead Acid Battery Market size is expected to reach USD 65.98 Billion in
2030 and register a revenue CAGR of 4.2% over the forecast period, according to
the latest report by Reports and Data. Steady market revenue growth of lead
acid battery is due to various factors, such as cost-competitive energy storage
solution and increase in renewable energy generation target. However, safety
issues related to battery usage are certain restraints that are expected to
affect the market revenue growth.
Steady
demand for lead acid batteries is expected to continue due to relatively lower
cost, wide availability, simple technology, and easy maintenance or topping up
of electrolyte. Lead acid batteries are recyclable and refurbished in some
developing economies. Lead is a commodity metal that can be most efficiently
recycled. Lead batteries are the only energy storage system that is almost
entirely recycled, and over 99% of lead batteries are collected and recycled in
a number of developed and developing countries.
The
global Lead Acid Battery market research report provides a brief overview
inclusive of competitive landscape and key developments in the market. It
provides an extensive study analysis of the strategic alliances such as mergers
and acquisitions, joint ventures, collaborations, product launches and brand
promotions, corporate deals and partnerships, among others. It also offers
insights into company overview, financial standing, business expansion plans,
and revenue growth of each company. It also sheds light on product advancement,
technological developments, and research and development activities.
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Key
Players:
Companies
profiled in the global market report include Panasonic Corporation, Exide
Industries Ltd., Hitachi Chemical Company Ltd., Amara Raja Batteries Ltd., HBL Power
Systems Ltd., Zhejiang Narada Power Source Co., Ltd., Crown Battery
Corporation, C&D Technologies Inc., GS Yuasa International Ltd., and Camel
Group Co. Ltd.
Some
Key Highlights from the Report:
- Among type
segment, motive segment accounted for largest market revenue share in 2020
and is expected to register a faster revenue CAGR during the forecast
period due to increasing demand for forklift applications. It has been
observed that lead-acid batteries power almost 70% of the total forklifts
manufactured. A motive type battery powers the motor that drives an
electric vehicle such as a forklift truck. They also provide power for a
specific purpose on an electric vehicle, such as the lift on a fork light
truck. Additionally, motive type batteries power accessories such as
headlights on an electric vehicle. Since lead-acid batteries aid in
bringing down the total cost of ownership, their augmented implementation
in forklifts is expected to fuel segment revenue growth over the forecast
period.
- Among end use
segment, transportation segment accounted for largest market revenue share
in 2020 due to rise in demand for electric vehicles. Volatility of crude
oil prices have affected countries that are dependent solely on imports.
Rise in crude oil prices have led to rise in inflation. Hence, automobile
sector is focusing on adopting electric vehicles as an alternative means
which help in carbon reduction. Lead acid battery is used in different
vehicles for different purposes, so as the automobile industry is witnessing
steady demand, it would also allow lead acid battery market revenue to
grow due to its cost-effective installation.
- Lead acid
battery market in Asia Pacific accounted for largest revenue share in 2020
and is expected to register fastest revenue CAGR during the forecast
period due to requirement of cost-effective energy storage solutions in
developing counties. The industrial and commercial & residential
sectors, along with the transportation sector, are major consumers of
these battery systems. China, Singapore, South Korea, Japan, and India are
considered the main industrial hubs and offer tremendous growth
opportunities for the lead-acid battery market. High demand in the region
is owing to rising investment in smart battery-operated technologies. The rise
in automobile production, increase in demand for uninterrupted power
supply, government support, and increase in the level of Foreign Direct
Investment (FDI) are expected to drive market revenue growth.
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Key
Questions Addressed in the Report:
- What is the
expected revenue growth rate the global Lead Acid Battery market
is expected to register during the forecast period?
- What are the
key growth driving factors of Lead Acid Battery market?
- Who are the
leading players in the market?
- What are the
key outcomes of SWOT analysis and Porter’s Five Forces analysis?
- Which region
is expected to account for the largest market share in the
global Lead Acid Battery
Market
Segmentation:
Regional
Outlook (Revenue, USD Million; 2019–2030)
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East
& Africa
Type Outlook
(Revenue, USD Million; 2019–2030)
- Stationary
- Motive
End-use Outlook
(Revenue, USD Million; 2019–2030)
- Utility
- Transportation
- Industrial
- Commercial
& Residential
Technology Outlook
(Revenue, USD Million; 2019–2030)
- Basic
- Advanced
Construction Outlook
(Revenue, USD Million; 2019–2030)
- Flooded
- Vrla (valve
regulated lead–acid) Battery
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Key
Points Addressed in the Report:
- A detailed
analysis of the global Lead Acid Battery market through
assessment of key market aspects such as technology, product type,
application, end-use, and overall industry dynamics.
- Qualitative
and quantitative analysis of the market estimation and CAGR calculation
for the forecast period.
- All-inclusive
assessment of market dynamics with emphasis on drivers, restraints,
opportunities, and limitations.
- Extensive
profiling of key companies operating in the market including company
overview, financial standing, product offerings, product portfolio, recent
product and technological advancement, and business expansion plans.
Thank
you for reading this article. You can also get chapter-wise sections or
region-wise report coverage for North America, Europe, Asia Pacific, Latin America,
and Middle East & Africa.
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