China lead acid battery market is predicted to expand over 5% by 2024. The industry growth is largely attributed to the vast domestic ebikes industry along with the introduction of energy storage development policies.
— Global Market Insights presents the Lead Acid Battery Market provides a detailed overview of major drivers, restraints, challenges, opportunities, current industry trends and strategies impacting the global market along with estimates and forecast of revenue.
Lead Acid Battery Market size will surpass USD 75 Billion by 2024. Strengthening demand for backup power driven by growing investments toward IT infrastructure expansion will stimulate the lead acid battery market size. Massive capital spending to enhance data service businesses while establishing increased capacity for future data explosion will fuel the industry growth. For instance, according to CBRE, investment in the U.S. datacenter industry reached record levels in 2017 with a value of over USD 20 billion.
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977 market data tables
38 figures & charts
The U.S. lead acid battery market, in 2017 was valued over USD 8 billion. Increasing demand for reliable power quality across critical power applications in communications, Oil&Gas networks, and for the data storage in Uninterruptible Power Supply (UPS) will propel the industry growth. In addition, the robust expansion of datacenter infrastructure will accelerate the deployment of these batteries. For instance, Apple announced to boost its U.S. datacenters capex by an investment of USD 10 billion over the next 5 years.
Europe lead acid battery market, in 2017 exceeded annual sales of 90 million units. Growing investments in industrial material handling equipment, green transport and renewable power generation will augment the industry growth. Lead-based batteries play an imperative role in attaining the EU’s emission reduction targets, through regenerative braking and start-stop functionality in micro hybrid vehicles, and for grid stabilization and renewable energy storage.
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• Cost competitive energy storage solution
North America & Europe
• Expanding datacenter infrastructure
• Growing demand for uninterrupted power supply
• Burgeoning expansion in automotive industry
• Rapid technological advancement and expansion in the telecom sector
Industry pitfalls & challenges
• Increasing penetration of alternative lithium-ion batteries
• Stringent government regulations
For instance, the national government, under its 13th Five Year Plan (2016-2020) promotes the construction of distributed energy generation in the country, thereby facilitating the deployment of these batteries. According to the China Energy Storage Alliance (CNESA), lead-acid batteries, in 2016, accounted for over 69% of the newly installed capacity in microgrids and distributed generation.
SLI lead acid battery market will witness growth on account of increasing automotive sales across emerging economies, driven by increasing consumer spending and significant economic growth. In addition, the growing prominence of advanced lead batteries in micro hybrid vehicles as a means to minimize carbon emissions will further stimulate the industry growth. According to the Battery Council International (BCI), as of 2017, over 99 % of the passenger cars in Europe operated on lead-based batteries.
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VRLA lead acid battery market will witness robust growth on account of its technical superiority and high-power performance across diverse application sectors. In addition, the growing need for improved performance for start-stop vehicles and regenerative braking will shift the industry trends toward these batteries. The ability to offer safe handling and minimal maintenance will further support their sturdy deployment across the industry landscape.
Notably industry participants in the lead acid battery market include Johnson Controls, East Penn Manufacturing, Furukawa Battery, Mutlu, Enersys, Middle East Battery Company, NorthStar Battery Company, Leoch International Technology, Amara Raja Batteries, Hoppecke Batteries, Fengfan amongst others.
Partial Table of Contents (ToC) of the report:
Chapter 4 Lead Acid Battery Market, By Application
4.1 Lead acid battery market share by capacity, 2017 & 2024
4.2.1 Global market from stationary, 2013 – 2024
4.2.2 Global market from stationary, by region, 2013 - 2024
22.214.171.124 Global market from telecommunications, 2013 – 2024
126.96.36.199 Global market from telecommunications, by region, 2013 - 2024
188.8.131.52 Global market from UPS, 2013 – 2024
184.108.40.206 Global market from UPS, by region, 2013 - 2024
4.2.5 Control & Switchgear
220.127.116.11 Global market from control & switchgear, 2013 – 2024
18.104.22.168 Global market from control & switchgear, by region, 2013 - 2024
22.214.171.124 Global market from others, 2013 – 2024
126.96.36.199 Global market from others, by region, 2013 - 2024
4.3.1 Global market from motive, 2013 – 2024
4.3.2 Global market from motive, by region, 2013 - 2024
4.4.1 Global market from SLI, 2013 – 2024
4.4.2 Global market from SLI, by region, 2013 - 2024
188.8.131.52 Global market from automobiles, 2013 – 2024
184.108.40.206 Global market from automobiles, by region, 2013 - 2024
220.127.116.11 Global market from motorcycles, 2013 – 2024
18.104.22.168 Global market from motorcycles, by region, 2013 - 2024
Name: Arun Hegde
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Organization: Global Market Insights, Inc.
Release ID: 526907