China stationary lead acid battery market is expected to reach USD 4.55 billion by 2024,
according to a new report by Grand View Research, Inc. Rising demand for lead
acid battery in uninterruptible power supply (UPS) systems as they provide high
power density and enhanced life expectancy will propel market growth over the
forecast period. The growth of the commercial sector including theaters, malls,
and hotels & restaurants in China is expected to stimulate the product
demand on account of increasing government spending and FDIs. Rising emphasis
on energy security has resulted in increasing the establishment of power plant
installations over the past few years, and this trend is expected to continue
owing to the increasing population and improving infrastructure.
Telecommunication
was the dominant segment accounting for 40.6% of the overall revenue share in
2015 and will show steady growth in light of rising need to manage wireless
connection efficiently and reduce data transmission losses.
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Further key
findings from the report suggest:
- Off-grid renewable segment
was valued at USD 115.6 million and is projected to witness substantial
gains over the forecast period on account of growing number of off-grid
installations in light of government support, and increasing focus on
improving living conditions in rural areas by the private sector, social
organizations, and communities working. Moreover, the absence of an
efficient grid system in remote villages will fuel growth over the
forecast period.
- Transportation
infrastructure will witness significant rise at a CAGR of 7.5% from 2016
to 2024 in light of the announcement of an infrastructural development
plan by the China Ministry of Transport and the National Development and
Reform Commission for the development of rails (trackside), roads, marine
buoys, aviation beacons and tunnels.
- Abundant availability of
lead acid battery in various sizes and specifications along with high
current level will augment its demand over the upcoming years. Low-cost
and easy availability of lead acid batteries for different specifications
coupled with excellent properties including low maintenance, durability,
low self-discharging, and high discharge rate capability will lead to
industry expansion over the next eight years. 100% recyclability and
simple extraction process of these batteries will increase industry size
over the next eight years.
- China stationary lead acid
battery market is highly competitive and fragmented in nature with the
presence of numerous large and small scale manufacturers. The industry is
mainly dominated by key participants including Narada Power Source Co.,
Ltd., GS Yuasa Corporation, China Shoto, Leoch International Technology
Limited and Fengfan Co., Ltd. Ongoing product innovation to produce
high-performance and cost-efficient batteries is expected to fuel growth
over the forecast period.
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https://www.grandviewresearch.com/industry-analysis/china-stationary-lead-acid-battery-market/request/rs1
Grand View Research has segmented
the China stationary lead acid battery market on the basis of application:
China Stationary
Lead Acid Battery Market Application Outlook (USD Million, 2013 - 2024)
- Utilities
- Oil & Gas
- Industries
- Buildings
- Transportation
Infrastructure
- Off-Grid Renewable
- Telecommunication
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.
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