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Lead Acid Battery Market is Anticipated to Grow US$ 24.0 Bn by 2020

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Consumption of lead acid batteries by manufacturers of two-wheelers, passenger cars, heavy transportation vehicles
Global Market Study on Lead Acid Battery: Grid Storage Segment Anticipated to Witness
Impressive Growth During 2015-2020
Rising demand for electric or battery-operated vehicles is generating a discernible level of demand
for battery on a global level, especially in developed regions. Consumption of lead acid batteries by
manufacturers of two-wheelers, passenger cars, heavy transportation vehicles, and commercial
carriers is anticipated to sustain the demand for lead acid battery on a global level. Exploding
industrialization and urbanization in developing countries have been fuelling the need for UPS as a
reliable source of uninterrupted power, which is foreseen to remain a key factor pushing the battery
market growth. Expansion of consumer electronics market is further boosting lead acid battery
consumption.
Introduction and rapid acceptance of smart battery will continue to fuel the growth of the market for
lead acid battery. The global market for lead acid battery registered the revenues of around US$
46.8 Bn in 2015, which are likely to climb up by 2016 end. Applications in the transportation
industry are expected to attract the highest sales revenues, whereas APAC will remain the largest
market registering the maximum consumption of the lead acid battery.
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A growing trend of consumer preference for extended battery life will further add to the smart
battery market. Developing markets in China, India, and other emerging economies are rapidly
adopting grid storage technology since the past decade. This will be another major driver escalating
the market growth. Technological advancements in vehicle technology, such as the hybrid vehicle,
battery-operated vehicle, or electric vehicle, will be some more strong factors bolstering the market
growth. Innovations such as smart battery have been trending in the market since the recent past,
which is expected to accelerate the market growth.
However, highly volatile raw material prices and evolving lead emission standards may hamper the
market growth. Moreover, relatively higher battery weight and lower energy density will remain
longstanding challenges to widespread adoption.
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On the basis of application, the global market for a lead acid battery is classified into seven key
segments viz. transportation, stationary industrial, motive industrial, stationary industrial,
commercial, residential, and grid storage. Transportation has been a major segment, expected to
remain dominant over 2015-2020, accounting for the maximum revenues through to 2020. The
stationary industrial segment, which is the second largest segment, will account for over 18% share
of the total market revenues. This segment is expected to register significant growth at a CAGR of
8.6% during 2015-2020.
Grid storage although the smallest segment is foreseen to witness robust growth during this period.
This growth is primarily attributed to growing adoption of lead battery in developing economies for
grid storage application.
By region, the global market for a lead acid battery is segmented into five key regions. APAC is
predicted to remain a major revenue shareholder, possibly exceed a value of US$ 24.0 Bn in 2020.
Europe is expected to register a market share of around 24% by 2020 end, with over 24% market
share. Europe will, however, expand at a higher CAGR compared to APAC
Exide Technologies, Johnson Controls Inc., EnerSys, and GS Yuasa Corporation are a few of the
key players operating in the global lead acid battery market.
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vakhas
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