Lead Acid Battery Market Is Projected To Reach USD 90.00 Billion By 2032

0
142

According to Custom Market Insights (CMI), The Global Lead Acid Battery Market size was estimated at USD 54 billion in 2021 and is anticipated to reach around USD 90 billion by 2030, growing at a CAGR of roughly 5% between 2022 and 2030. 

Our research report offers a 360-degree view of the Lead Acid Battery market’s drivers and restraints, coupled with their impact on demand during the projection period. Also, the report examines global opportunities and competitive analysis for the Lead Acid Battery market.

Lead Acid Battery Market: Overview

COVID-19 has an impact on the majority of nations. Globally, it severely impacted trade, business, and public health. There were travel restrictions enforced inside states and across borders due to lockdowns. In addition, stock market volatility and a slowdown in supply chain operations affected business and hampered economic growth. During the pandemic, the global lead acid battery market suffered significant financial losses and poor growth.

Browse the full “Lead Acid Battery Market Size, Trends and Insights By Product (SSL Lead Acid Battery, Stationary Lead Acid Battery, Motive Lead Acid Battery), By Application (Automotive, UPS, Electric Bikes, Transport Vehicles, Telecom, Others), and By Region – Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2022–2030 “ report at https://www.custommarketinsights.com/report/lead-acid-battery-market/

Growth Factors

The market is anticipated to increase due to the increasing use of lead-acid batteries in automobiles and Uninterruptible Power Sources (UPS), as well as some advancements in production techniques. In addition, the market size is anticipated to increase due to rising demand for the product in off-grid power generation.

Future industry demand is expected to be driven by growth in the transportation sector and an increase in applications for energy storage. The market for the product is also anticipated to increase quickly due to the expansion of the passenger car, motorcycle, and commercial vehicle manufacturing sectors. In addition, positive demand drivers include expanding UPS demand in finance, oil and gas, healthcare, and chemicals.

Including lead content in batteries, which has negative environmental implications, is one of the problems limiting the market. Additionally, despite lithium batteries’ dropping price, demand has slowed down due to the technological breakthroughs they provide. Different energy storage markets are predicted to rely more on lithium-ion due to ongoing cost reductions, which is also anticipated to constrain the industry.

However, the automotive industries in India, Brazil, South Korea, Mexico, Indonesia, Thailand, and Vietnam are expected to progress, presenting the potential for the market to expand. In addition, the demand for lead-acid batteries will likely increase over the years due to rising demand for zero-emission electric cars and technical developments.

Segmental Overview

The market for Lead Acid Batteries is segmented into product and application. In terms of sales share, the automotive application segment was the largest in 2021. As a result of the expanding automobile industry, the widespread use of lead-acid batteries is anticipated to increase. Due to their robust distribution networks and easy access to their products at competitive rates, major automotive players, including Maruti Suzuki, TATA, Infinium Toyota, Mitsubishi, Hyundai, Honda, Mahindra, and Nissan, have fueled the rise of the automotive sector in the Asia Pacific.

Get Free Sample Copy @ https://www.custommarketinsights.com/request-for-free-sample/?reportid=20088

Regional Overview

In 2021, Asia Pacific dominated the global lead acid battery market, and it is anticipated that it will continue to do so during the forecast period. This region’s lead acid battery market is expanding due to a rising consumer preference for electric vehicles. Lead acid batteries are commonly used in electric cars because they are affordable, dependable, and offer cheap energy storage. Furthermore, lead-acid batteries are anticipated to have significant market expansion in the coming years due to the widespread use of energy storage applications in industrial sectors.

The world’s second-largest market was North America. The region’s well-developed industrial sector is likely to be the primary driver of market expansion. The need for lead-acid batteries has increased due to top automakers, including Toyota, General Motors, Ford, and Fiat Chrysler Automobiles. Additionally, the region’s need for lead-acid batteries has increased due to the region’s expanded telecom sector and rising oil and gas-related activities following the shale gas boom.

Key Players Insights

The industry leaders are concentrating on strategic alliances to expand their product line and maintain their market share. 

  • April 2022: To distribute and market motive power products throughout Denmark, Greenland, Iceland, the Faroe Islands, EnerSys, and Orogenic ApS entered a strategic cooperation agreement. The goal of this agreement was to increase the company’s market presence on a global scale.
  • May 2021: Amara Raja Batteries, the second-largest producer of lead-acid batteries in India, has resumed lead-acid battery production.

Prominent Players

  • Furukawa Electric Co. Ltd.
  • Narada Power Source Co. Ltd.
  • Hitachi Chemical Company Ltd.
  • SiteTel Sweden AB (NorthStar)
  • Clarios
  • Yokohama Batteries Sdn. Bhd.
  • Leoch International Technology Ltd.
  • Enersys
  • Exide Industries Ltd.
  • Hoppecke Batterien GmbH & Co. KG.
  • GS Yuasa Corporation
  • Crown Battery Corporation
  • C&D Technologies Inc.
  • East Penn Manufacturing Co.
  • Coslight Technology International Group Co. Ltd.
  • Chaowei Power Holdings Limited.
  • Zhangzhou Huawei Power Supply Technology Co. Ltd.
  • Camel Group Co. Ltd.
  • B. Battery
  • Shandong Sacred Sun Power Sources Co. Ltd.

Buy Now This Premium Report @ https://www.custommarketinsights.com/checkout/?reportid=20088

About Us:

Custom Market Insights is a market research and advisory company delivering business insights and market research reports to large, small, and medium-scale enterprises. We assist clients with strategies and business policies and regularly work towards achieving sustainable growth in their respective domains. Custom Market Insights provides a one-stop solution for data collection to investment advice. The expert analysis of our company digs out essential factors that help to understand the significance and impact of market dynamics. The professional experts apply clients inside on the aspects such as strategies for future estimation fall, forecasting or opportunity to grow, and consumer survey.

Contact Us:

USA Corporate Office

CMI Consulting LLC

1333, 701 Tillery Street Unit 12, Austin, TX, Travis, US, 78702
Sales & Support +1 801 639 9061

Email : support@custommarketinsights.com

Website : https://www.custommarketinsights.com/

Zoeken
Categorieën
Read More
Other
Vibration Level Switches Market Register a Healthy CAGR of for Forecast Period, 2023-2031
The objective of Global Vibration Level Switches Market report to familiarize the clients with...
By Lisa Harley 2023-02-01 09:38:21 0 2K
Literature
Reasons You Should Use A Dissertation Writing Company 
Dissertation writing is a dreading yet unavoidable journey as you must submit one dissertation to...
By Michael Haydon 2022-09-02 12:11:47 0 3K
Health
Healthcare Business Intelligence Market Size, Share, Growth, Demand, Emerging Trends and Forecast to 2029
The credible Healthcare Business Intelligence Market report has been produced with the systematic...
By Dbmr Market 2023-12-11 05:52:28 0 1K
Health
4K Medical Imaging Market Global Insights: Business Demand, Expert Reviews, and Sales Consumption Analysis, Forecast by 2032
The Market Dynamics of the 4K Medical Imaging The The global 4K Medical Imaging...
By Abhilash Nale 2024-11-27 05:09:59 0 118