Lead acid battery refers to the oldest type of rechargeable battery with its use spanning across various industries. It has the advantage of supplying the high surge current, as the cells have great power to weight ratio. High power to weight ratio & low cost makes these batteries attractive for its use in the automotive sector. These batteries comprises of plates, cell, container, separators, and battery terminals. It is extensively used in the power stations and substations as it has higher cell voltage and lower cost.
Lead-acid batteries are generally
categorized into wet cells or flooded batteries and Sealed Acid Batteries
(SLA). Among these, the flooded cells segment is expected to exhibit
substantial growth rate owing to least cost per amp-hour make and
cost-efficient solution that makes these cells useful in igniting in the
automotive industry.
According to study, “Lead
Acid Batteries Global Market Report 2020-30: Covid 19 Impact and Recovery”
the key companies operating in the global lead acid batteries market Trojan
Battery Corporation, Johnson Controls, CSB Battery, are FIAMM, Luminous Power
Technologies Pvt. Ltd., Amara Raja Batteries Ltd., HBL Power Systems Ltd., East
Penn Manufacturing, Excide Industries Ltd., North Star Battery, Sebang Global Battery,
Su-Kam Power Systems Ltd., Okaya Power Pvt. Ltd., EnerSys.
Based on type, lead acid batteries market is segmented as motive and stationary. Based on technology, market is segmented as advanced lead acid battery and basic lead acid battery. Based on construction method, market is segmented as Valve Regulated Lead Acid (VRLA) and flooded. Based on end-user, market is segmented as commercial & residential, industrial, transportation, utilities and others. In addition, based on industrial, market is segmented as oil & gas, telecom, data centers, and others.
The lead acid batteries market is
driven by rapid technological advancements & expansion in the telecom
sector, followed by cost-competitive energy storage solution and easily
recyclable compared with lithium-ion batteries. However, safety related to
battery usage and low-cost alternatives in energy storage space may impact the
market. Moreover, growth in data center infrastructure and increase in
renewable energy generation target are key opportunities for market.
Furthermore, rise in advancement in technology in the battery systems is a
major trend for market.
Based on geography, the
Asian-Pacific region holds major share in global lead acid batteries market
owing to increase in demand for a reliable source of energy, foreign direct
investments and promising government regulations that encourage investments
from public-private partnerships in the region. The European and North-American
regions are estimated to witness higher growth rate due to rise in need for
alternative energy source and increase in number of offshore & onshore
renewable energy industry over the forecast period. It is expected that future
of the global market will be optimistic as a result of growth in population
coupled with increase in disposable income of people during the forecast
period. The worldwide lead-acid batteries market was valued at US $20.56
billion in 2019 and it is projected to grow at a CAGR of 5.09% and reach US
$25.07 billion by 2023.
For More Information, Click on the Link Below:-
Global
Lead Acid Batteries Market
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Ankur Gupta, Head Marketing &
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