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Lead Acid Battery Market

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Lead Acid Battery Market report categorizes the global market by Product Type, by Construction method - Insights, Size, Share, Opportunity Analysis, and Industry Forecast till 2025
Lead Acid Battery Market Segmented By Insights, Size,
Share, Opportunity Analysis, and Industry Forecast till 2025
Lead acid battery is considered to be the oldest type of rechargeable battery with
its use spanning across industries. It has the advantage of supplying high surge
current, as the cells have large power to weight ratio. High power to weight ratio
and low cost makes lead acid batteries attractive for its use in the automotive
sector. Lead acid batteries comprises of container, plates, cell, separators, and
battery terminals.
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The increasing demand from various industries, such as automotive sector,
telecom sector, uninterrupted power supply in oil and gas mining,
manufacturing, and chemical is expected to the boost the growth of the lead acid
batteries market globally. Moreover, the low cost of the batteries coupled with
new developments and innovation in lead acid battery products is further
expected to augment the market growth. However, environmental restrains, due
to lead content and threat from substitute namely lithium-ion battery are the
major restraints for the growth of global lead acid battery market.
In 2016, Asia Pacific was the leading region in the global lead acid battery
market and is expected to remain the dominant region during the forecast
period. The main factors attributed to the growth of Asia Pacific region in
market is due to rapid increasing industrialization and globalization in this
region. Moreover, increasing number of automobile industry along with
expanding disposable income is triggering sales of automobiles, which in turn
increases growth for lead acid batteries market. According to China Association
of automobile manufacturers (CAAM), during the period 2016-2017,
automobile sales in China rose by 6.2%. Lead acid batteries are highly efficient
to use as energy storage system. The other factors such as increased government
expenditure in retail sector favored in the growth of various industries such as
construction, banking, and telecom industry, which in turn will fuel demand for
lead acid batteries. According to Indian Brand Equity Foundation (IBEF),
Ministry of Commerce and Industry, Government of India, the retail market in
India is expected to nearly double to US$ 1 trillion by 2020 from US$ 600
billion in 2015, due to income growth, urbanization, and attitudinal shifts.
North America accounted for the second largest market globally. The developed
industrial sector in this region stands to be the major factor contributing to the
market growth. The presence of leading automobile companies, which include
Toyota, Ford motor company, General Motors, and Fiat Chrysler Automobiles
has augmented the demand for lead acid batteries. According to the
International Trade Association, exports of automotive parts from the U.S has
shown a steady growth from US$ 5 billion in 2012 to US$ 7.2 billion by 2015.
Moreover, the developed telecom sector coupled with the increasing oil and gas
related activities post the shale gas boom has propelled the need for power
storage device hence, surging the demand for lead acid batteries in the region.
Based on the product, SLI lead acid battery is the largest segment in 2016 and is
expected to show the same trend during the forecast period. SLI lead acid
battery holds a revenue of US$ 26.80 billion and is expected to grow at a CAGR
of 3.39% from 2017 - 2025. The increasing use of SLI lead acid battery in
electric vehicles, owing to its excellent cold cracking abilities in engine starting
coupled with durability are the major factors contributing to market growth.
Major Players in the Global Lead Acid Battery Market
The major players operating in the global lead acid battery market include
Johnson Controls, ATLASBX Co. Ltd, Exide Technologies, East Penn
Manufacturing Co, Crown Battery Manufacturing Company, C&D
Technologies, INC, GS Yuasa Company, and Leoch International Technology
Ltd.
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pallavi.reddy
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