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All gadgets and electronic items require batteries when they are not connected to some power source. Among all batteries, the lead acid battery is one battery whose market is growing rapidly because it is considered useful and suitable for vehicles. Application of lead-acid batteries in energy storage application is expected to drive the market due to the development of commercial vehicles, motorcycle industry, and a passenger car. Uninterrupted Power Supply (UPS) is required in various sectors like chemical, healthcare, manufacturing and oil & gas. The growth of lead battery market is also boosted by factors like the emergence of vehicle charging infrastructure, execution of smart grid projects, increase in adoption of renewable energy systems, increasing distance of telecom towers and increasing usage of hybrid and electric vehicles. Also, the life of the lead acid battery is longer, and its cost of manufacturing is lower than the cost of batteries. Vehicles are expensive, and the high-cost batteries can make them more expensive. Therefore, lead-acid batteries are preferred over other batteries. Another plus point of lead acid batteries is that they can work in cold weather whereas many other batteries although claiming to last longer than lead-acid batteries cannot. Due to low cost, even military submarines also use lead acid batteries.
A report published by Market Research Future (MRFR), predicts that the lead-acid battery market is likely to grow at 8% CAGR for the forecast period from 2017 to 2023. This report segments the global lead-acid battery market based on product, construction method, and end-user. Product-based segmentation segments the market into motive, SLI (Starting, Lighting, and Ignition) and stationary. Segmentation via construction method segments the market into flooded and VRLA (Valve Regulated Lead Acid). Segmentation by end-users comprises of stationary industrial, automotive, commercial, electronics, industrial, oil & gas, residential, telecommunication and transportation.
Some of the prominent players in the global Lead Acid Battery Market: Johnson Controls (U.S), ATLASBX Co. Ltd. (South Korea), Exide Technologies (U.S.), East Penn Manufacturing Co. (U.S.), NorthStar (Sweden), Crown Battery Manufacturing (U.S.), C&D Technologies, Inc. (U.S.), GS Yuasa Corp (Japan), Narada Power Source Co., Ltd. (China) and Leoch International Technology Ltd. (China) and others.
Lead Acid Battery Market Segmentation:
By the end-user segment, the electronics industry consists of UPS which is expected to gain a significant growth owing to an increasing requirement for uninterrupted power supply in residential, commercial, and industrial sectors. Asia Pacific industry for UPS is expected to rise significantly on account of the rapid development of data centers and IT industries in the region.
Market Research Analysis:
Regional segmentation of global lead-acid battery market covers Asia Pacific, Europe, North America and rest of the world (RoW). The largest market share of the lead-acid market comes from Asia Pacific region where China, India, Japan and South Korea rule the roost regarding revenue with rest of Asia Pacific serving as a sizable but profitable market for lead-acid batteries. Developing economy, high population and demand for low-cost batteries (and vehicles) have created a market for lead-acid battery in Asia Pacific region. During the forecast period, Europe market is expected to show substantial growth due to increasing number of onshore as well as offshore renewable energy industry Germany, Italy, Sweden, and the United Kingdom (UK). The North American market for a lead-acid battery comprises of United States of America (USA), Canada and Mexico. Compared to the Asia Pacific and Europe, the market for lead-acid batteries is not due to some debate regarding their efficiency but due to strict laws regarding environmental concerns.
TABLE OF CONTENTS
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.1 Research Objectives
2.2.2 Assumptions & Limitations
2.3 Markets Structure
3 Market Research Methodology
3.1 Research Process
3.2 Secondary Research
3.3 Primary Research
3.4 Forecast Model
4 Market Landscape
4.1 Porter’s Five Forces Analysis
4.1.1 Threat Of New Entrants
4.1.2 Bargaining Power Of Buyers
4.1.3 Threat Of Substitutes
4.1.4 Segment Rivalry
4.2 Value Chain/Supply Chain Of Global Lead Acid Battery Market
5 Industry Overview Of Global Lead Acid Battery Market
5.2 Growth Drivers
5.3 Impact Analysis
5.4 Market Challenges
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
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Michael Owens serves as the marketing advisor of Head45 in Cardiff Bay. He is a specialist in customer experience and an expert brand strategist who is keen to take on challenges that will help the business expand. Michael puts his creative energy into penning posts that are both interesting and useful for the most popular blogging sites.