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The Global Lead Acid Battery Market is expected to reach USD 95.32 Billion by 2026, according to a new report by Reports and Data. It is a rechargeable battery which can convert chemical energy into electrical energy. Rising demand for UPS systems and electric vehicles is fueling the market. Moreover, significant rise in demand from sectors such as automotive, healthcare, power, and telecom industries in developing nations is encouraging the growth of the market. Lead batteries have lower prices as compared to its competitors. Hence they are more commonly used and preferred.This is the latest report covering the current COVID-19 scenario. The coronavirus pandemic has greatly affected every aspect of the worldwide industry. It has brought along various changes in market conditions. The rapidly changing market scenario and initial and future assessment of the impact are covered in the research report. The report discusses all the major aspects of the market with expert opinions on the current status along with historical data.
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Key players mentioned in the research report are:
Johnson Controls, Exide Technologies, GS Yuasa Corp, ATLASBX Co. Ltd., East Penn Manufacturing Co., Crown Battery Manufacturing, C&D Technologies, Inc., Narada Power Source Co. Ltd., Amara Raja Batteries Ltd., Leoch International Technology Ltd.
In terms of applications, the global Lead Acid Battery market can be segmented into:
Telecommunication
UPS
Control & Switchgear
Motive
Automobiles
Motorcycles
Grid Storage
Fork Lifts
In terms of types, the global Lead Acid Battery market can be segmented into:
Stationary
Motive/Traction
SLI
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For geographical segmentation, regional supply, application-wise, and type-wise demand, key players, and others, this report covers the following regions: North America, Europe, Asia-Pacific, South America, and Middle East & Africa. The report sheds light on the competitive landscape of the market that covers the product offerings, services, market shares, and business overview. This Lead Acid Battery Market research report covers various dynamic aspects like the market drivers, restraints and challenges, and growth prospects. The prominent and leading companies are profiled in the report.
Further key findings from the report suggest
• Rising concerns for the environment has led to an increase in demand for e-bikes and electric vehicles, lower dependence on fuel technologies which in turn increase lead acid battery.
• In the product type segment, Motive/Traction lead-acid batteries have the largest market share of 35% in the year 2018 and are forecasted to grow till 36% in 2026.
• These motive or traction batteries are deployed in diverse vehicles like forklifts, minivans, tourists coaches, industrial trucks, golf carts, and e-bikes.
• SLI batteries offer low compatibility with smart vehicles, are low in cost and provide reliability. They are projected to hold a market share of 33% in the forecasted period of 2026.
• Stationary lead-acid batteries provide backup power, security system, emergency lighting, railway backup concerns, renewable energy concerns, etc. They have a market share of 31% in the year 2018 and has an annual growth rate of 5.4%.
• VRLA has a market share of 51% in the year 2018 and is forecasted to hold a market share of 53% in the year 2026 with an annual growth rate of 5.9%.
• Flooded lead occupy a market of 49% in the year 2018 and is forecasted to loose market due to its high maintenance. It is mainly used in industrial applications.
• APAC will have the largest market share of 29% in the year 2018 and is forecasted to hold 32% of the market by 2026. It has the highest growth rate of 6.7% in the forecasted year.
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This research report delivers a 360 overview of the competitive landscape of the Global Lead Acid Battery Market. Furthermore, it includes massive data regarding the latest trends, technological advancements, and methodologies.
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