LONDON, April 18, 2016 /PRNewswire/ -- Analysis of the Lead-Acid Battery Test Equipment Market:Battery Monitoring is Crucial to Ensure a Superior-Quality Power Source on Demand
The market insight provides an overview of the lead-acid battery test equipment market from 2013 to 2021. A global revenue forecast is provided, with 2015 as the base year. Improvements in lead-acid batteries have resulted in new applications, which will have a positive impact on the test equipment market. The study includes a regional revenue forecast and analysis of trends that are expected to drive or restrain market growth. It also provides an overview of the Mega Trends that will drive overall battery market growth through 2020.
The test equipment market for lead-acid (LA) batteries is expected to grow at a compound annual growth rate (CAGR) of % between 2015 and 2021, reaching $ million in 2021.
- Market growth can be attributed to increasing interest in LA batteries because of their enhanced features.
- Contrary to expectations, advanced lead-acid (ALA) batteries are finding acceptance and contending with lithium-ion and other batteries in many applications areas. LA batteries have also found acceptance in the emerging Mega Trends such as Smart Cities transcending end-user verticals including automotive, healthcare, information technology (IT) and telecom, energy, and smart buildings.
- LA batteries' acceptance in emerging market is contributing to test equipment market growth.
- Test equipment providers are expected to focus on product differentiation to increase their market presence.
- Toward the end of the forecast period, other batteries' lower prices will pose a threat to LA batteries because competitive pricing is a key selling point.
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