07-Sep-2021 | Zion Market Research
Some of key players in Lead Acid Battery market are Clarios, Exide Industries Limited, Leoch, Shangdong ,C&D Technologies, GS Yuasa East, Penn Zibo, Furukawa Crown Battery, B.B. Battery, HOPPECKE, First National Battery, Koyo Battery, Middle East Battery and Enersys among others. These players are set to bolster the development of Lead Acid Battery market.
According to analysts at Zion Market Research, the Lead Acid Battery market accounted for USD 43.4 Billion in 2020 and is expected to reach USD 61.9 Billion by 2028, growing at a CAGR of more than 4.5% from 2021 to 2028.
This review is based on a report by Zion Market Research, titled “Lead Acid Battery Market by Technology (Basic Lead Acid Battery, Advanced Lead Acid Battery), By Type (Stationary, Motive), By End Use Industry (Utility, Transportation, Industrial, Commercial and Residential, and Others): Global Industry Perspective, Comprehensive Analysis and Forecast, 2020 – 2028.”
Growing demand for Automobiles To Spur Growth
Growing demand for automobiles has augmented the lead acid battery market forecasts over the last few years. These batteries hold a dominating position across the conventional automobile industry along with other applications including micro hybrid systems and vehicles with start-stop functionality, which in turn will drive the product penetration. Lead acid battery is witnessing a cyclical demand growth owing to the superior cranking power and soaring demand for advanced vehicle technologies. Customers across the globe are gaining more interest in power sports, which in turn is further boosting the market statistics for these units globally.
Improvement in the transportation business, alongside an expansion in energy storing application is projected to drive industry interest in the impending future. Rapid development of the business vehicle, cruiser, and traveller vehicles, and industrial ventures is additionally projected to drive the item interest. Developing interest for UPS in different areas, such as banking, oil and gas, medical services, and synthetic substances is emphatically driving the interest.
Presence of Big Players in The Region Support North America Dominance
Major regions including North America & Europe face harsh climatic conditions in winter seasons, which fuel the requirement for a power delivery system that offers high cranking performance. Low cost and operational reliability are few of the prominent factors augmenting the adoption of lead acid battery over the other available alternatives. Moreover, growing adoption of start stop technology across conventional vehicles in order to comply with the fuel efficiency standards will enhance the market trends of these units across SLI applications.
Browse the full “Lead Acid Battery Market By Technology (Basic Lead Acid Battery, Advanced Lead Acid Battery), By Type (Stationary, Motive), By End Use Industry (Utility, Transportation, Industrial, Commercial And Residential, And Others): Global Industry Perspective, Comprehensive Analysis And Forecast, 2020 – 2028.” Report at https://www.zionmarketresearch.com/report/lead-acid-battery-market
The Lead Acid Battery market is segmented as follows:
By End Use Industry
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