The global lead
acid battery market is expected to reach USD 84.46 billion by
2025, according to a new report by Grand View Research, Inc. Expansion of the
automotive industry in China, India, Brazil, Mexico, South Africa, Indonesia,
and Germany is anticipated to drive industry growth. Furthermore, increasing
utilization of energy storage systems and UPS in industries including mining,
oil & gas, nuclear power, electricity generation, gas turbine,
construction, hospitality, banking, manufacturing, and off-grid renewable is
anticipated to drive lead acid battery demand over the forecast period.
Electric bikes are expected to witness growth at a
CAGR of 6% from 2016 to 2025 owing to zero carbon emission and low-cost
mobility. Increasing prices of gasoline and diesel fuels are expected to attract
more consumers towards using these environment-friendly e-bikes. Furthermore,
rising population and traffic congestion are expected to fuel the demand for
e-bikes, which, in turn, is likely to boost industry growth over the upcoming
years.
Browse full research report on Lead Acid Battery Market: https://www.grandviewresearch.com/industry-analysis/lead-acid-battery-market
Further key findings from the report suggest:
- Motive power accounted for 24.1% of market share in 2015. These
batteries are used in industrial applications including forklifts, golf
carts, railroads, and mining vehicles. Increasing requirement for
transport vehicles and forklifts mainly in India and China on account of
rapid industrialization is expected to propel demand.
- Telecom sector was the second largest application industry and is
projected to grow at a CAGR of 5% from 2016 to 2025. The need for
efficient management of wireless connections coupled with continuous
maintenance of security levels is anticipated to stimulate the demand for
lead acid batteries in the telecom industry.
- Europe accounted for 24.7% of the global market share in 2015 and
is expected to foresee substantial growth over the next nine years.
Widespread production of automobiles in countries including Germany,
Italy, Sweden, UK, and the Czech Republic along with the presence of major
automotive manufacturers, such as Audi, BMW, Mercedes-Benz, Jaguar,
Volkswagen, Volvo, and Fiat, in the region is expected to aid in industry
expansion.
- Asia Pacific is projected to witness remarkable growth in light of
increasing need for energy storage systems. Rising demand for renewable
energy along with favorable support from the government for the
development of solar and wind energy is anticipated to drive the usage of
energy storage systems. The abovementioned factor is expected to influence
product demand over the upcoming years positively, and the market is
estimated to be worth USD 39.42 billion by 2025.
- The industry is competitive in nature with major manufacturers
including EnerSys, Johnson Controls, GS YUASA, Exide Technologies, East
Penn, and ATLASBX Co., Ltd. dominating the global market. In October 2015,
Crown Equipment Corporation launched forklift fleet run by lead acid
batteries to lengthen the battery runtime and increase its efficiency.
Browse more reports of this category
by Grand View Research: https://www.grandviewresearch.com/industry/power-generation-and-storage
Grand
View Research has segmented the global lead acid battery market on the basis of
product, construction method, application and region:
Product
Outlook (Revenue, USD Million; 2014 - 2025)
- SLI
- Stationary
- Motive
Construction
Method Outlook (Revenue, USD Million; 2014 - 2025)
- Flooded
- VRLA
Application
Outlook (Revenue, USD Million; 2014 - 2025)
- Automotive
- UPS
- Telecom
- Electric
bikes
- Transport
vehicles
- Others
Regional
Outlook (Revenue, USD Million; 2014 - 2025)
- North America
- U.S.
- Europe
- Germany
- UK
- Italy
- Russia
- Asia Pacific
- China
- India
- Central &
South America
- Brazil
- MEA
- South Africa
- UAE
About Grand View
Research
Grand View Research, Inc. is a U.S. based market
research and consulting company, registered in the State of California and
headquartered in San Francisco. The company provides syndicated research
reports, customized research reports, and consulting services. To help clients
make informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
For more information: www.grandviewresearch.com
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