Lead-acid battery market is projected to reach $70.7 billion by 2023, increasing demand for electric vehicles and automobiles coupled with urbanization and industrialization in emerging economies are likely to create demand for applications of lead-acid batteries and thus expected to propel the market growth during the forecast period.
On the basis of construction, the lead-acid battery market is categorized into flooded and valve regulated lead-acid (VRLA). Traditionally, flooded lead-acid battery held the larger share in the market, contributing more than 51.0% in terms of volume. This is in coherence with its cost-effectiveness for entry level start-stop vehicles over its counterpart. Additionally, increasing application of flooded lead-acid battery in marine applications is further estimated to augment its demand in the future.
Based on type, the market for lead-acid battery is bifurcated into standby, motive, and starting, lighting, and ignition (SLI). In 2017, SLI category was the largest type in the market, constituting a market share of more than 55.0% in terms of volume. The wide range of advantages such as high durability, reliability, and low maintenance requirements are likely to increase its penetration in the automotive sector, which in turn, will drive its demand in the market during the forecast period.
On basis of application, the lead-acid battery market is classified into automobile, utilities, construction, telecommunication, marine, leisure, uninterrupted power supply (UPS), and others. The others category comprises military and mining applications. Automotive was the largest application area in the market, contributing more than 65.0% share in terms of volume in 2017. This is ascribed to significant battery life; low cost; and high performance, a trait characteristic of lead-acid battery.
Globally, the lead-acid battery market is expected to witness the fastest growth in APAC, in terms of volume, with 4.2% CAGR during the forecast period. This growth can be majorly attributed to growing demand of lead-acid batteries for applications in automotive sector and telecommunication networks. Furthermore, in addition to the aforementioned factor, increasing use of UPS in industrial sectors such as oil and gas, manufacturing, chemical, and healthcare are likely to open up new growth opportunities for the lead-acid battery market in the region.
Key Topics Covered:
Chapter 1. Research Background
Chapter 2. Research Methodology
Chapter 3. Executive Summary
Chapter 4. Introduction 4.1 Definition of Market Segments 4.1.1 By Construction 126.96.36.199 Flooded 188.8.131.52 VRLA 4.1.2 By Type 184.108.40.206 Standby 220.127.116.11 Motive 18.104.22.168 SLI 4.1.3 By Application 22.214.171.124 Automobile 126.96.36.199.1 Non-electric vehicles 188.8.131.52.2 EVs 184.108.40.206.3 Transport vehicles 220.127.116.11.4 Forklifts 18.104.22.168 Utilities 22.214.171.124 Oil and gas 126.96.36.199 Construction 188.8.131.52 Telecommunication 184.108.40.206 Marine 220.127.116.11 Leisure 18.104.22.168 UPS 22.214.171.124 Others 4.2 Value Chain Analysis 4.3 Market Dynamics 4.3.1 Trends 126.96.36.199 Technological advancements 188.8.131.52 Shift in preference from conventional generators to stationary lead-acid battery in telecom industry 4.3.2 Drivers 184.108.40.206 Growing demand for EVs 220.127.116.11 Growing demand for UPS 18.104.22.168 Urbanization and industrialization in developing nations 22.214.171.124 Rise in automobiles demand 126.96.36.199 Impact analysis of drivers on market forecast 4.3.3 Restraints 188.8.131.52 Increasing demand for lithium-ion battery 184.108.40.206 Stringent government regulations 220.127.116.11 Impact analysis of restraints on market forecast 4.3.4 Opportunities 18.104.22.168 Growing inclination towards renewable sources 4.4 Technology Dynamics 4.4.1 Patent Analysis 4.4.2 Technology Shifts
Chapter 5. Global Market Size and Forecast 5.1 By Construction 5.2 By Type 5.3 By Application 5.3.1 Lead-Acid Battery Market for Automotive Application, by Type 5.4 By Region
Chapter 6. North America Market Size and Forecast
Chapter 7. Europe Market Size and Forecast
Chapter 8. APAC Market Size and Forecast
Chapter 9. LATAM Market Size and Forecast
Chapter 10. MEA Market Size and Forecast
Chapter 11. Competitive Landscape 11.1 Market Share Analysis of Key Players 11.2 Competitive Benchmarking of Key Players 11.3 Global Strategic Developments of Key Players 11.3.1 Product Launch 11.3.2 Geographic Expansion 11.3.3 Facility Expansions 11.3.4 Mergers and Acquisitions 11.3.5 Partnership