Lead acid battery is the oldest sort of battery-powered battery, with an extremely low energy-to-weight ratio & a low energy-to-volume ratio. Its capacity to supply high surge currents implies that the cells have a generally large power-to-weight ratio. Lead-acid batteries are extensively used in many applications including motive, automotive and stationary applications. They are broadly used owing to cranking property of the battery that offers the power with short span. Nowadays, lead acid batteries are also used for diverse applications in various end-use industries such as telecommunication and uninterruptible power supply (UPS). These batteries are generally segmented into wet cells or flooded batteries and Sealed Acid Batteries (SLA). Among these, the flooded cells segment is expected to witness higher growth rate due to least cost per amp-hour make and cost-efficient solution that makes these flooded cells useful in igniting & lighting in the automotive industry.
Referring to the study, “Lead Acid Batteries Global Market Report 2020-30: Covid 19 Impact and Recovery” some of the major organizations that are currently working in the global lead acid batteries market include EnerSys; Exide Industries; GS Yuasa; Chaowei Power; Crown Battery; NorthStar; Hitachi Chemical; Narada Power; Panasonic; Camel Power; HBL Power Systems; Exide Technologies; Teledyne Technologies; HOPPECKE; C&D Technologies; East Penn; Hankook AltasBX; Rolls Battery; Johnson controls; Yokohama Industries; Clarios; XUPAI Battery; Okaya Power; First National Battery; Leoch International Technology; Harbin Coslight Power; Exide technologies; Enersys; Amara Raja Power System
On the basis of battery type, lead acid batteries market is defined by motive and stationary. Additionally, on the basis of end-user, market is defined by industrial, residential, commercial and transportation.
The lead acid batteries market is driven by surge in research & development (R&D) activities in the automotive lead-acid battery industry, followed by rise in demand for uninterruptible power source (UPS) systems & vehicles, growth in deployment of micro-grids, growth in construction of data centers, execution of hybrid power systems in telecom towers, increase in government initiatives for electric vehicles and surge in demand from the automotive, power, telecom, and healthcare industries in emerging economies. However, strict lead emission standards may impact the market. Moreover, growth in applications in a vehicles & technological advancements in lead acid battery is a key opportunity for market. Furthermore, rise in legislative support for battery recycling is a major trend for market.
Based on regional analysis, the Asia-Pacific region holds major share in global lead acid batteries market due to development of e-mobility projects in most major nations, large gap in supply-production of electricity, continuous increase in demand for a reliable source of energy and lack of grid infrastructure across the region. The Europe and North-America regions are likely to witness higher CAGR owing to rise in need for alternative energy source over the forecast period. It is anticipated that future of the global lead acid batteries market will be optimistic because of growth in adoption of lead-acid batteries in electric vehicles coupled with increase in government initiatives to promote the electric vehicles during the forecast period.
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Ankur Gupta, Head Marketing & Communications