According to the new market research report "Lead Acid Battery
Market by Technology (Basic, Advanced Lead Acid), Type
(Stationary, Motive), Construction Method (Flooded, VRLA), End-User (Utilities,
Transportation, Industrial, Commercial & Residential), and Region - Global
Forecast to 2024", published by MarketsandMarkets™, the global Lead
Acid Battery Market is projected to reach USD 52.5 billion by 2024 from an
estimated USD 41.6 billion in 2019, at a CAGR of 4.7% during the forecast
period. This growth can be attributed to factors such as the need to integrate
renewable energy to the main grid, and the booming data industry promising the
installation of several data centers across the globe, which expects the
utilization of lead acid batteries for backup power supply.
The VRLA segment is expected to be the largest Lead
Acid Battery Market, by construction method, during the forecast period
The Valve Regulated Lead Acid (VRLA) segment is expected
to be the largest market during the forecast period. The VRLA batteries
comprise absorbent glass mat (AGM) and gel cells. These are new
technology-driven construction methods, including the presence of adsorbent
glass material and silica gel, respectively. These methods ensure the longevity
of the batteries and require less maintenance compared to regular lead acid
batteries. In the times to come, these batteries are likely to be preferred
over conventional flooded lead acid batteries due to their various advantages.
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The advanced lead acid battery is expected to be the fastest-growing
segment of the Lead Acid Battery Market, by technology, during the forecast
period
The advanced lead acid battery has carbon coatings on the
anode plate, which eliminates the requirement of cleaning the lead sulfate
deposition on the electroplate. At the same time, the life of the anode
electrode is enhanced, eventually increasing the overall life of the battery
set. It provides benefits like rapid charging on regenerative breaking. This is
a significant advantage of advanced lead acid batteries, as this task is
difficult to achieve with regular lead acid batteries. Although comparatively
heavier and larger than lithium-ion, these batteries are cost-effective,
efficiently operating at low and subfreezing temperatures, and does not require
active cooling.
Asia Pacific to account for the largest share of the
global Lead Acid Battery Market
In this report, the Lead Acid Battery Market has been
analyzed with respect to five regions, namely, North America, South America,
Europe, Asia Pacific, and the Middle East & Africa. The Asia Pacific region
is estimated to dominate the global Lead Acid Battery Market in 2019, owing to
the requirement of cost-effective energy solutions. The presence of a large
automotive and manufacturing base in the region is expected to be the key
driver for market growth. Increasing energy consumption in the area due to
rapid industrialization and urbanization is expected to propel the growth of
the market over the forecast period.
Request for sample pages of the report @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=161171997
The report
includes the profiles of some of the top players in the Lead Acid Battery Market to enable an in-depth understanding of the
competitive landscape. Some of the key players are EnerSys (US), Exide
Industries (India), GS Yuasa (China), Clarios (US), Panasonic (Japan), Chaowei
Power (China), Narada Power (China), HBL Power Systems (India), Crown Battery
(US), NorthStar (Sweden), Hitachi Chemical (Japan), Exide Technologies (US),
Teledyne Technologies (US), East Penn (US), Hankook AltasBX (Korea), HOPPECKE
(Germany), C&D Technologies (US), Rolls Battery (Canada), Camel Power
(Malaysia), Amara Raja Power System (India), XUPAI Battery (China), Okaya Power
(India), Leoch International Technology (Hong Kong), Harbin Coslight Power
(China), and First National Battery (South Africa). The leading players are
adopting various strategies to increase their share in the Lead Acid Battery
Market.
Key Questions Addressed by the Report
·
What are the revolutionary technology trends
that will be seen over the next five years?
·
Which of the lead acid battery market elements
will lead by 2024?
·
Which of the construction method segments will
have the maximum opportunity to grow during the forecast period?
·
Which will be the leading region with the
highest market share by 2024?
·
How are OEM companies introducing their lead
acid battery in different applications?
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research on 30,000 high growth niche opportunities/threats which will impact
70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers
worldwide including 80% of global Fortune 1000 companies as clients. Almost
75,000 top officers across eight industries worldwide approach
MarketsandMarkets™ for their painpoints around revenues decisions.
Mr. Sanjay Gupta
MarketsandMarkets™
INC.
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USA : 1-888-600-6441
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