U.S. lead acid battery market, by product, 2014 - 2025 (USD Million) |
The global Lead Acid Battery Market was estimated at USD 46.6 billion in 2015 and as per a
research study by Grand View Research, Inc.; the market is anticipated to reach
a valuation of USD 84.46 billion by 2025. This growth is attributed to the
increased use of lead acid batteries in UPS and vehicles. Developments in the
production processes are also expected to augment the demand over the coming
years. In addition, growing automobile industry in various regions including
India, Brazil, Indonesia, Germany, Mexico, is also projected to propel the
market over the forecast period (from 2016 to 2025).
Increasing demand
for UPS in a variety of sectors like oil and gas, manufacturing, and healthcare
along with a major scope in energy storage applications may spur the market in near
future. A rise in the demand for lead acid batteries in the generation of
off-grid renewable energy is also likely to stimulate the overall market growth
during the forecast years. Furthermore, high preference for pollution-free electric
vehicles (EVs) along with rapid technological advancements is predicted to spur
the product demand.
Full
Research Report On Lead Acid Battery Market Analysis: https://www.grandviewresearch.com/industry-analysis/lead-acid-battery-market
The global lead
acid battery market is categorized as per product, construction method,
application or end user, and region. On the basis of product, the market is
categorized as stationary, motive, and SLI. On the basis of construction
method, the market is segmented as flooded and VRLA. Flooded batteries were the
largest consumed batteries in 2015. On the basis of applications, the market is
segregated as transport vehicles, telecom, automotive, electric bikes, UPS, and
others. On the basis of geographies, the market is divided into Europe, North
America, Asia Pacific, Middle East and Africa, and Central and South America.
Asia Pacific led
the global market in 2015 accounting for 43.6% of the overall share. The region
is projected to be the highest revenue generating market during the forecast
years reaching at USD 39.42 billion by 2025. Growing construction sector in the
emerging region such as China, India, and Japan is expected to boost the regional
market over the forecast period. In addition, favorable regulations by various
government bodies for generating foreign direct investments (FDIs) and
private-public partnerships are also projected to boost the region’s expansion
over the next nine years.
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More Reports Of This Category By Grand View Research At: https://www.grandviewresearch.com/industry/power-generation-and-storage
The Europe region
occupied 24.7%[RJ1]
of the total market share and is estimated to witness substantial growth in the
coming years. This is mainly due to the rising number of onshore and offshore
renewable energy installations in Italy, Germany, United Kingdom, and Sweden.
In addition, factors such as increasing population, high disposable income of
consumers, and presence of top automobile manufacturing companies such as
Mercedes-Benz and Audi are set to boost the demand for passenger vehicles in
the region. This factor is also anticipated to contribute toward the growth of
this region over the next few years.
Major companies
operating in the worldwide lead acid battery market are Zhejiang Narada Power
Source Co., Ltd.; Leoch International Technology Ltd.; Crown Battery
Manufacturing Co.; East Penn Manufacturing Co.; and Johnson Controls
International PLC. Johnson Controls was among the topmost companies in 2015 and
accounted for 25% of the overall market share. These players focus on product
innovations to gain the maximum market share and number of customers.
For example, Log
9 Materials, founded by an IIT graduate, has come up with a technological
innovation that can increase the capacity of lead acid batteries. The company
uses graphene, a single, thin layer of atoms placed together, to enhance the
longevity of the batteries used in UPS, solar energy storage systems, and
vehicles. According to the founder of the company, they have achieved a 30%
improvement in the amount of charge a lead acid battery can store. So,
initially if the storage capacity of a battery was for five hours, it can now
be extended up to 6.5 to 7 hours.
View Press
Release of this research report by Grand View Research: https://www.grandviewresearch.com/press-release/global-lead-acid-battery-market
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
For More Information: www.grandviewresearch.com