24th January 2020 – Lead Acid Battery Market
research report interprets definition, an investigation of significant progress
in the market. It provides overall industry survey, product description, wide
array of applications, top players, and development forecast. It enhances
understanding about that market along with new business trends.
The global Lead Acid Battery Market size
is expected to value at USD 84.46 billion by 2025. The market is subject to
witness a substantial growth due to the increasing adoption in the automotive
industry, shifting trend towards electrically operated vehicles. The rise in
use of electric vehicles is attributed to the progress of research &
development activities and various schemes embarked to enhance the current
electric vehicle models for better performance and efficiency.
These initiatives are expected to help
the electric vehicles to maintain competitiveness with the existing fuel
powered vehicle models. These factors are expected to fuel market demand for
lead acid batteries over the next seven years. Globally, the lead acid battery
market is predicted to grow at higher CAGR in the forecast period, providing
numerous opportunities for market players to invest for research and
development in the market.
Get
a Sample Copy of This Report @ https://www.millioninsights.com/industry-reports/lead-acid-battery-market-size/request-sample
With recent technological advancement in
the global battery industry, which is credited to the growing demand from
end-user industries, is propelling growth of the market. The lead acid
batteries are more durable and flexible in comparison with traditional
batteries. Additionally, higher performance associated with the lead acid
batteries is attributed to implementation of specific design during its
manufacturing processes.
Growing popularity of lead acid
batteries in automotive sector and the portable electronic devices is
attributed to lightweight, flexibility and relatively small size, thus
revolutionizing entire battery segment. These advantages coupled with high-end
safety in vehicles and medical application are propelling expansion of the lead
acid market over the forecast period. Growing demand and increasing awareness
about advantages of the lead acid batteries across the globe are driving market
reach of lead acid battery industry.
Government laws and regulations
regarding excessive use of the heavy metal such as cadmium and mercury during
manufacturing of the batteries are propelling growth of the lead acid battery
market. Significant efforts made in order to enhance the capabilities of lead
acid batteries by manufacturer such as superior performance and improved
service quality. With recent developments such as substantial improvement in
its charge density and battery life have eradicated all previous shortcomings.
These factors are expected to pave the way for future market growth in the
upcoming years.
The lead acid battery industry is
broadly categorized into six major segments based on the application type such
as automotive sector, telecom industry and consumer electronics industry, UPS,
transport vehicles and electric vehicles. The automotive sector is considered
as one of the fastest growing segment in the lead acid battery market with
substantial revenue generation in the last few years. Growing popularity of the
lead acid batteries in automotive segment is attributed to the growing
manufacturing of vehicles globally. The UPS segment has also witnessed
substantial growth owing to the increase need for uninterrupted power supply in
domestic, commercial, as well as industrial sectors.
The lead acid battery industry is
divided by region as North America, Europe, Asia-Pacific, Latin America and
Africa. North America has shown major growth in recent years owing to the rise
in the implementation of latest technologies in chemical industry, latest trend
towards adoption of electric vehicles, favorable laws & regulations by
local governments, and existence of well-established manufacturing
infrastructure in the region.
Asia-Pacific region is predicted to hold
a major market share in the lead acid battery market displaying a massive
growth in forecast period. Countries such as India, China and Singapore are
leading the Asia-Pacific market with strong economic growth in the region,
robust growth of automotive sector and significant investment by leading
industry players considering the potential growth opportunities in the region.
The key players in the lead acid battery
industry are Johnson Controls Co., ATLASBX Co., Ltd., Exide Technologies, Inc.,
East Penn Manufacturing Co., NorthStar, Crown Battery Manufacturing, Inc.,
C&D Technologies, Inc., GS Yuasa Co., Narada Power Source Co., Ltd., and
Leoch International Technology Ltd.
Get
in touch
At Million Insights, we work with the
aim to reach the highest levels of customer satisfaction. Our representatives
strive to understand diverse client requirements and cater to the same with the
most innovative and functional solutions.
For
More Information, Visit @ https://www.millioninsights.com
No comments:
Post a Comment