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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50 - Figures
150 - Pages
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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.
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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.
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