Lead Acid Battery Market Continue to Grow at a CAGR of 7.04% till 2026
Increasing
usage by transportation and automobile industry & an undue increasing
demand for uninterrupted power back up to fuel global lead
acid battery market through 2026.
According to
TechSci Research report, “Global Lead
Acid Battery Market By Product (Stationary, Motive and Start Light &
Ignition (SLI)), By Construction Method (Flooded, Valve Regulated Lead Acid (VRLA)),
By Sales Channel (Original Equipment Market (OEM), After Market), By Application
(Transportation, Industrial Motive, Stationary industrial, Residential,
Commercial & Grid Storage), By Region, Competition Forecast &
Opportunities, 2016 - 2026’’, the global lead acid battery
market is projected to be around USD76.85 billion by 2026, on account of growing demand for uninterrupted
power supply. Growing environmental concern, use of renewable sources of
energy, and demand for portable power storage, in turn will boom the lead acid
battery applicability in future. Moreover, improved after sales service are
expected to positively influence the Global Lead Acid Battery Market in the coming
years.
Global Lead Acid Battery Market can be segmented based on product, construction
method, sales-channel, application, region. In terms of product, the market can
be bifurcated into stationary, motive and start light & ignition (SLI). SLI dominated the
market in 2020 and is expected to maintain its market dominance during the
forecast period, backed by the wide usage in automobiles.
In terms of construction method, the market is segmented into flooded
& valve regulated lead acid battery (VRLA). VRLA is the most widely used battery due to high
utility in uninterruptible power supplies (UPS) as it has light weight, lesser
installation & operating cost, smaller footprint & is environment
friendly. Based on sales channel, it is segmented into Original
Equipment Market (OEM) and aftermarket out of which aftermarket occupies the
major portion because of high demand in after sales service and maintenance. Market
players are increasingly focusing on long-term maintenance and after sales repair
contracts.
According to
applications it is divided into transportation, industrial motive, stationary
industrial, residential, commercial and grid storage, out of which commercial
occupies a major portion due to high battery utility in the sector. Due to
COVID-19 pandemic, there is a dip in the Global Lead Acid Battery Market, and
because of longer lockdown periods, as the batteries were in idle mode, so
their functionality & performance were affected, also the major players and
suppliers were from mainland China, so the imports were completely stopped due
to China being the center of pandemic.
Browse
123 Figures spread through 110 Pages and an in-depth TOC on "Global
Lead Acid Battery Market "
https://www.techsciresearch.com/report/global-lead-acid-battery-market/3682.html
In the global
lead acid battery market, Asia-Pacific is the largest contributor with 43.71%
value share in 2020. China is the
largest contributing country in the region with 43.25% share in 2020, followed
by India, Japan & South Korea. Growing transportation as well as portable
energy storage demand in China are contributing to the country’s leading market
position. In India, the UPS and
inverter battery as an alternative source of continuous power back up, are
expected to strengthen the demand for Lead Acid Battery in the country over the
next six years. After Asia-Pacific, Europe & North America holds the market
share for Lead Acid Battery Market.
Download
Sample Report @ https://www.techsciresearch.com/sample-report.aspx?cid=3682
Customers can also request for 10% free
customization on this report.
Leoch International
Technology Ltd, Panasonic Corporation, East Penn Manufacturing Co., GS Yuasa
Corporation, Enersys Ltd., Exide Technologies Inc, Luminous Power Technologies
Pvt. Ltd., FIAMM Energy Technology S.p.A., Trojan Battery Corporation and CSB
Energy Technology Co., Ltd. are among the leading players operating in Global Lead
Acid Battery Market. Companies operating in the market are using environment
friendly strategies such as product development using green technologies, partnerships,
mergers, and collaborations to boost their share in global lead acid battery market.
“Increasing
growth of transportation and automobiles, in turn has created a huge market for
SLI lead acid batteries. With the
growing need for an alternate source of continuous power back up and
digitalization of the world, there comes an increased demand for
uninterruptible power supply (UPS). Moreover, the growing renewable energy
sector across the globe is expected to drive the global lead acid battery market
in the coming years.”, said Mr. Karan Chechi, Research Director with TechSci
Research, a research based global management consulting firm.
“Global Lead Acid Battery Market By Product,
By Construction Method, By Sales Channel, By Application, By Region, Competition
Forecast & Opportunities, 2016 - 2026” has
evaluated the future growth potential of global lead acid battery market and
provides statistics and 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 analyses the emerging trends along with essential drivers, challenges,
and opportunities in the global
lead acid battery market.
About TechSci Research
TechSci
Research is a leading global market research firm publishing premium market
research reports. Serving 700 global clients with more than 600 premium market
research studies, TechSci Research is serving clients across 11 different
industrial verticals. TechSci Research specializes in research-based consulting
assignments in high growth and emerging markets, leading technologies, and
niche applications. Our workforce of more than 100 fulltime Analysts and
Consultants employing innovative research solutions and tracking global and
country specific high growth markets helps TechSci clients to lead rather than
follow market trends.
Contact
Mr. Ken Mathews
708 Third Avenue,
Manhattan, NY,
New York – 10017
Tel: +1-646-360-1656
Email: [email protected]
Website: https://www.techsciresearch.com/