Lead Acid Battery Market Size is Projected to Reach USD 59.7 Billion by 2026 | Valuates Reports

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BANGALORE, India, Feb. 19, 2020 /PRNewswire/ -- The global lead acid battery market size in 2018 was estimated at USD 39.7 Billion and is projected to reach USD 59.7 Billion by 2026, rising at a CAGR of 5.24 per cent from 2019 to 2026.

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A lead acid cell is made of three basic components, anode, cathode and electrolyte; where the anode is the negative terminal, the cathode is a positive terminal, and the electrolyte connects these two terminals to generate electricity by an electrochemical reaction

The global market for lead acid batteries is segmented by product, construction process, application and area. It is segmented into SLI by the element, stationary, and motive. It is bifurcated into the flooded lead-acid battery and the sealed lead–acid battery (VRLA) valve controlled by construction. The global lead-acid battery market was divided by application across the automotive, UPS, telecom, and other sectors.

Increased adoption as well as the popularity of lithium-ion batteries, however, greatly hampers the market growth.

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TRENDS INFLUENCING THE GLOBAL LEAD ACID BATTERY MARKET SIZE

• Major technology companies such as Google and Samsung look forward to expanding their data centres to simplify the complexity of results. This leads to an increase in the need for UPS systems in data centres around the globe, which during the forecast period will generate healthy growth opportunities for the global lead-acid industry.
• The expansion of the telecommunications industry in countries such as the United States, Brazil, India, and the United Kingdom is leading to a greater need for UPS systems as a power backup, leading to the superior adoption of lead-acid batteries as a cost-efficient power. Datacenter expansion and the resulting demand for lead-acid batteries is the key global lead-acid battery market trend observed in recent years.
• Increasing SLI applications in the automotive industry, growth in renewable energy production, and high demand for energy storage devices are some of the factors that boost demand for lead-acid batteries.

REGION WISE GLOBAL LEAD ACID BATTERY MARKET SHARE ANALYSIS

Asia-Pacific was the largest regional market in 2018 among all countries and is projected to be the largest in the forecast period. In the Asia-Pacific region, the high demand for cost-effective energy storage products, population growth, and rising demand for UPS systems are the main drivers for growth in the lead-acid battery industry. In addition, the growing development of automobiles around the globe further contributes to this market growth.

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SEGMENT WISE GLOBAL LEAD ACID BATTERY MARKET SHARE ANALYSIS

• The flooded battery section emerged as the world leader over other building methods. The demand for flooded lead-acid batteries is also high in electric motors and nuclear submarines as an emergency power reserve. Therefore, increasing marine trade activities during the forecast period is likely to offer healthy growth opportunities for flooded lead-acid batteries.
• By product, the SLI segment accounted for the largest global market share of a lead-acid battery in 2018. The primary advantage of SLI batteries is long cycle-life and reduced vehicle weight. The rise in vehicle sales thus drives the growth of SLI batteries as a cost-effective source of energy.
• In 2018 the automotive segment led the global market by demand. The major factors driving the growth of the lead battery market are a balanced supply-demand gap in the automotive industry, the trend for electric vehicles and the demand for cost-competitive energy sources.

KEY MARKET SEGMENTS:

The Major Players Studied And Profiled In This Market Are

• EnerSys,
• Exide Industries,
• Crown Battery,
• East Penn,
• HOPPECKE,
• NorthStar,
• Hitachi Chemical,
• Teledyne Technologies,
• Hankook AltasBX,
• C&D Technologies
• Others.

By Product

• SLI
• Motive
• Stationary

By Construction Method

• Flooded
• Valve Regulated Sealed Lead–acid battery (VRLA)

By Application

• Automotive
• Passenger Cars
• Electric Bikes
• Transportation Vehicles
• UPS
• Telecom
• Others

By Region

• North America
• U.S.
• Canada
• Mexico
• Europe
• Germany
• France
• Italy
• Spain
• UK
• Rest of Europe
• Asia-Pacific
• China
• Japan
• India
• South Korea
• Australia
• Rest of Asia-Pacific
• LAMEA
• Brazil
• Saudi Arabia
• South Africa
• South Africa
• Rest of LAMEA

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