Residential Lead Acid Battery Market is expected to grow at a robust CAGR
Rising
demands for lead acid batteries as a backup power, solar & wind energy
storage, and electric vehicles among others are likely to propel the market of Residential
Lead Acid Battery Market in the forecast period.
According
to TechSci Research report, “Residential
Lead Acid Battery Market - Global Industry Size, Share, Trends,
Opportunity, and Forecast 2018-2028”, the Global Residential Lead Acid
Battery Market is expected to register robust growth during the
forecast period. The
increasing adoption of renewable energy sources, such as solar photovoltaic
(PV) systems, is a significant driver of the Residential Lead-Acid Battery
market. As homeowners seek to harness clean and sustainable energy, the need
for efficient energy storage solutions becomes paramount. Lead-acid batteries,
including Valve Regulated Lead-Acid (VRLA) Batteries, play a crucial role in
this context. Renewable energy systems generate electricity intermittently,
depending on factors like weather and daylight hours. Lead-acid batteries allow
homeowners to store surplus energy produced during sunny or windy periods and
use it during times of high energy demand or when renewable energy generation
is low. This energy independence, coupled with the desire to reduce reliance on
the grid and lower electricity bills, drives the demand for Residential
Lead-Acid Batteries.
Another
major driver of the Residential Lead-Acid Battery market is the growing need
for reliable power backup solutions. Homes increasingly rely on a multitude of
electronic devices, appliances, and systems, all of which require a stable
power supply. Grid power disruptions due to weather events, aging
infrastructure, or other factors can disrupt daily life and pose risks. Lead-Acid
Batteries, particularly those used in uninterruptible power supply (UPS)
systems, provide an effective solution to this problem. When grid power fails,
these batteries automatically switch to battery power, ensuring uninterrupted
electricity supply to critical appliances and systems such as lighting,
refrigeration, security systems, and communication equipment. The desire for grid
resilience and the ability to maintain essential functions during power outages
make Residential Lead-Acid Batteries an essential component in many households,
driving their adoption in the market.
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over XX market data Figures spread through XX Pages and an in-depth TOC on the "Global Residential
Lead Acid Battery Market."
The
Global Residential Lead Acid Battery Market is segmented into product, construction
method, sales channel and region. Based on Product, the market is segmented
into stationary, motive, and start light & ignition batteries (SLI). Based
on the construction method, the market is segmented into flooded and valve-regulated
lead acid (VRLA) Batteries. Based on sales channel, the market is segmented
into original equipment market (OEM) & aftermarket. Based on region, the
market is further bifurcated into North America, Asia-Pacific, Europe, South
America, Middle East & Africa.
Based
on product, The Start Light & Ignition segment had the
largest market share in 2022 and is expected to dominate the market during the
forecast period. Light
& Ignition Batteries are primarily designed to provide the initial burst of
power required to start internal combustion engine-driven vehicles, including
passenger cars, motorcycles, trucks, and other vehicles used in residential
settings. Their role is crucial for ensuring that vehicles start reliably. In
residential settings, Light & Ignition Batteries play a pivotal role in
supporting the automotive needs of homeowners. They are typically installed in
personal vehicles, ensuring that residents have reliable transportation for
daily commuting, errands, and emergencies. These batteries are a fundamental
component in residential garages, powering not only passenger cars but also
recreational vehicles (RVs), motorcycles, and other motorized equipment used
for leisure and utility purposes. Light & Ignition Batteries are known for
their ability to deliver high cranking power in a short burst, allowing them to
turn over the engine's starter motor effectively.
Based
on the construction method, The Valve Regulated Lead Acid (VRLA) Batteries
segment had the largest market share in 2022 and is expected to dominate the
market during the forecast period. VRLA Batteries have found extensive use in
residential settings due to their versatility. They are employed in various
applications to meet the backup power needs and energy storage requirements of
homeowners. One of the primary applications of VRLA Batteries in residential
settings is as backup power solutions. Homeowners rely on these batteries to
provide uninterrupted power during electrical grid outages, ensuring that
essential appliances and systems remain operational. VRLA Batteries are
commonly integrated into uninterruptible power supply (UPS) systems, which
automatically switch to battery power when grid power is disrupted. This is
critical for safeguarding sensitive electronics and maintaining productivity
during blackouts
Key
market players in the Global Residential Lead Acid Battery Market are:
- EnerSys
- Stryten
Energy LLC
- GS
Yuasa Corporation
- East
Penn Manufacturing Co. (US)
- Johnson
Controls International PLC
- C&D
Technologies Inc
- Crown
Battery Manufacturing Co.
- Hoppecke
AG
- NorthStar
Battery Company
- Saft
Groupe
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“
The Global Residential Lead Acid Battery Market is expected to boost in the
upcoming years and register a significant CAGR during the forecast period. The
growth of the market is attributed to the increasing demand for lead acid
batteries in the residential sector. Lead acid batteries are used in a variety
of applications in the residential sector, such as Backup power, Solar and wind
energy storage, Electric vehicles among others. Additionally, Lead acid
batteries are also used in a variety of other applications in the residential
sector, such as security alarms, sump pumps, and golf carts. Therefore, the
market for Residential Lead Acid Battery is likely to propel in the upcoming
years.” said Mr. Karan Chechi, Research Director with TechSci Research, a
research-based global management consulting firm.
“Residential
Lead Acid Battery Market – Global Industry Size, Share, Trends, Opportunity,
and Forecast Segmented By Product
(Stationary, Motive, and Start Light & Ignition Batteries (SLI)), By Construction
Method (Flooded and Valve Regulated Lead Acid (VRLA) Batteries), By Sales
Channel (Original Equipment Market (OEM) & Aftermarket), By Region,
2018-2028” has evaluated the future growth
potential of Global Residential Lead Acid Battery and provides statistics &
information on market size, structure, and future market growth. The report
intends to provide cutting-edge market intelligence and help decision-makers
take sound investment decisions. Besides the report also identifies and
analyzes the emerging trends along with essential drivers, challenges, and
opportunities in Global Residential Lead Acid Battery Market.
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