Lead Acid Battery Market 2021: Global Key Players, Trends, Share, Industry Size,
Posted by BestMarketResearchReports on January 1st, 2022
Lead Acid Battery Market 2021-2027
New Study Reports \" Lead Acid Battery Market 2021 Global Opportunities, Challenges, Strategies and Forecasts 2027\" has been Added on PersistenceMarketResearch.
This report provides in depth study of using SWOT analysis i.e. Strength, Weakness, Opportunities and Threat to the organization. The Lead Acid Battery Market report also provides an in-depth survey of key players in the market which is based on the various objectives of an organization such as profiling, the product outline, the quantity of production, required raw material, and the financial health of the organization.
Drivers and Constraints
The fundamental dynamics that are explored in the report hold substantial influence over the Lead Acid Battery market. The report further studies on the value, volume trends, and the pricing history of the market. In addition to it, various growth factors, restraints, and opportunities are also analyzed for the market to study the in-depth understanding of the market.
Introduction and rapid acceptance of smart battery will continue to fuel the growth of the market for lead acid battery. The global market for lead acid battery registered the revenues of around US$ 46.8 Bn in 2015, which are likely to climb up by 2016 end. Applications in the transportation industry are expected to attract the highest sales revenues, whereas APAC will remain the largest market registering the maximum consumption of the lead acid battery.
Rising demand for electric or battery-operated vehicles is generating a discernible level of demand for battery on a global level, especially in developed regions. Consumption of lead acid batteries by manufacturers of two-wheelers, passenger cars, heavy transportation vehicles, and commercial carriers is anticipated to sustain the demand for lead acid battery on a global level. Exploding industrialization and urbanization in developing countries have been fuelling the need for UPS as a reliable source of uninterrupted power, which is foreseen to remain a key factor pushing the battery market growth. Expansion of consumer electronics market is further boosting lead acid battery consumption.
The report has profiled some of the Important players prevalent in the global like – Exide Technologies, Johnson Controls Inc., EnerSys, and GS Yuasa Corporation and more.
This report covers the sales volume, price, revenue, gross margin, manufacturers, suppliers, distributors, intermediaries, customers, historical growth and future perspectives in the Lead Acid Battery.
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A growing trend of consumer preference for extended battery life will further add to the smart battery market. Developing markets in China, India, and other emerging economies are rapidly adopting grid storage technology since the past decade. This will be another major driver escalating the market growth. Technological advancements in vehicle technology, such as the hybrid vehicle, battery-operated vehicle, or electric vehicle, will be some more strong factors bolstering the market growth. Innovations such as smart battery have been trending in the market since the recent past, which is expected to accelerate the market growth.
However, highly volatile raw material prices and evolving lead emission standards may hamper the market growth. Moreover, relatively higher battery weight and lower energy density will remain longstanding challenges to widespread adoption.
On the basis of application, the global market for a lead acid battery is classified into seven key segments viz. transportation, stationary industrial, motive industrial, stationary industrial, commercial, residential, and grid storage. Transportation has been a major segment, expected to remain dominant over 2015-2020, accounting for the maximum revenues through to 2020. The stationary industrial segment, which is the second largest segment, will account for over 18% share of the total market revenues. This segment is expected to register significant growth at a CAGR of 8.6% during 2015-2020. Grid storage although the smallest segment is foreseen to witness robust growth during this period. This growth is primarily attributed to growing adoption of lead battery in developing economies for grid storage application.
By region, the global market for a lead acid battery is segmented into five key regions. APAC is predicted to remain a major revenue shareholder, possibly exceed a value of US$ 24.0 Bn in 2020. Europe is expected to register a market share of around 24% by 2020 end, with over 24% market share. Europe will, however, expand at a higher CAGR compared to APAC.
Region Coverage (Regional Production, Demand & Forecast by Countries etc.):
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