A lead acid battery is used as an energy storage system and as a power source in a variety of applications. This, in turn, has a positive impact on the global market share of lead acid batteries. These rechargeable batteries have a sulfuric acid solution electrolyte with a lead dioxide cathode and a sponge metallic lead anode. One of largest in the lead-user category is industrial batteries - such as those used for standby power supply system, electrical energy supplies for telephone exchanges, public buildings, hospitals and various industries. Various information centers report a high need for battery storage. Any inconsistencies or power outages in different data centers might be critical for them. As a result, the growing Lead Acid Battery Market Share mostly supports this industry's back power needs. Furthermore, the UPS systems and Lead Acid Battery Facts used in all of these businesses are mostly Lead Acid Battery systems. As a result, these sectors use a significant volume of this type of battery, resulting in significant Lead Acid Battery Market growth.
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Anode, cathode, and electrolyte are the three main components of a lead cell; the anode is the negative terminal, the cathode is the positive terminal, and the electrolyte joins both of these terminals to drive an electrochemical reaction that produces electricity. A lead–acid battery is made up of a sponge metallic lead anode, a lead-dioxide cathode, and a sulfuric acid solution electrolyte. It is the first battery to be used in a commercial setting. It has dangerous lead in it, but it can be recycled. The electric vehicle section of the automobile industry is rapidly growing in order to minimize carbon emissions. The lead–acid battery is widely employed in electric cars, and its use is steadily increasing. The continuous rising demand for electric vehicles globally is going to add fuel to the growth of lead acid battery as transportation industry plays a very vital role in governments target for zero emission, and electric vehicles is the very first step to reach the set targets.
According to UnivDatos Market Insights (UMI)’ research report “Lead Acid Battery Market”, the market is expected to witness a CAGR growth of around 5% during the forecast period 2021-2027F. Global Lead Acid Battery Market is experiencing significant growth due to the low-cost energy storage solution along with rising demand and usage of Uninterruptible Power Supply (UPS) in various industries.
Based on construction method, the market is segmented into Flooded and VRLA. The Flooded segment is expected to grow at a higher CAGR during the forecasted period. In diesel-electric submarines, flooded lead–acid batteries are used to power electric motors, while nuclear submarines use them as a backup power source. As a result, increased maritime commerce operations are expected to provide flooded lead–acid batteries with good growth potential during the projection period. Because of their cost-effectiveness, the usage of these batteries in forklift trucks is increasing substantially, as forklift trucks are primarily utilized in the material handling business, where productivity and cheap cost are extremely important
Based on type, the market is segmented into SLI, Stationary and Motive. The SLI segment is expected to grow at a higher CAGR during the forecasted period. The key benefit of SLI batteries is their high cycle life and reduced vehicle weight. As a result, the emergence of SLI batteries as a cost-effective energy source is fueled by an increase in car sales. Furthermore, these batteries are considered as a cost-effective source of energy by vehicle owners, who replace batteries after a specific time instead of buying expensive alternatives, such as lithium-ion battery, available in the market
Based on technology, the market is segmented into Basic and Advanced. The Advanced segment is expected to grow at a higher CAGR during the forecasted period. The features such as improved battery life along with reduced weight the advanced lead acid batteries are gaining demand in the industry and is expected to grow at a higher CAGR during the forecasted period.
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Based on end-user, the market is segmented into Utilities, Transportation, Industrial and Others. The Transportation segment is expected to grow at a higher CAGR during the forecasted period. The transportation segment dominated the market in 2020 and is expected to lead the lead-acid battery market during the forecast period. This is primarily because these batteries are cost-effective and are preferred for the installation in internal combustion vehicles for SLI applications.
Asia Pacific to Grab Lion’s Share
Based on the estimation, during the projection period of 2021-2027, Asia Pacific is expected to grow at a higher CAGR. China, India, Japan, and South Korea are all major contributors to the Asia-Pacific region. High automobile production and sales, fast industrialization, population increase, and a spike in demand for UPS systems are just a few of the elements driving this region's growth. The automotive industry generates the majority of revenue for lead–acid batteries in Asia–Pacific, owing to robust demand for passenger automobiles and increased awareness and acceptance of electric vehicles. The electric vehicle section of the automobile industry is rapidly growing in order to minimize carbon emissions. The lead–acid battery is widely employed in electric cars, and its use is steadily increasing.
According to UnivDatos Market Insights (UMI)’, the key players with a considerable market share in the Global Lead Acid Battery Market are includes EnerSys, Exide Industries, Amara Raja Batteries Ltd, C&D Technologies Inc., GS Yuasa Corporation, HBL Power Systems Ltd., Panasonic Corporation, Teledyne Technologies Inc., Clarios, Narada Power etc.
· In February 21, EnerSys, the world's largest manufacturer, marketer, and distributor of industrial batteries, recently announced it will expand its manufacturing facility in Warrensburg, Mo. This plant expansion will increase its manufacturing capacity by 50 percent which is necessitated by the growing demand from premium automotive, telecommunications, aerospace and defense, and other industrial users
“Global Lead Acid Battery Market” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for the market players. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on different parameters. This will help companies in the formulation of go to market strategies and identifying the blue ocean for its offerings.
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Market Segmentation:
1. By Construction Method (Flooded and VRLA)
2. By Type (SLI, Stationary and Motive)
3. By Technology (Basic and Advanced)
4. By End User (Utilities, Transportation, Industrial and Others)
5. By Region (North America (United States, Canada, Rest of North America), Europe (Germany, France, UK, Italy, Spain, Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Rest of APAC), and Rest of World)
6. By Company (EnerSys, Exide Industries, Amara Raja Batteries Ltd, C&D Technologies Inc., GS Yuasa Corporation, HBL Power Systems Ltd., Panasonic Corporation, Teledyne Technologies Inc., Clarios, Narada Power)
Key questions answered in the study:
1. What are the current and future trends of the Global Lead Acid Battery industry?
2. How the industry has been evolving in terms of end-user demand and product category?
3. How the competition has been shaping across the countries followed by their comparative factorial indexing?
4. What are the key growth drivers and challenges for the Global Lead Acid Battery industry?
5. What is the customer orientation, purchase behavior, and expectations from the Global Lead Acid Battery suppliers across various countries?
