Global Lead Acid Battery Market Analysis & Forecast, 2019-2024 - The Increased Renewable Energy Generation Target Presents Lucrative Market Opportunities


Dublin, Nov. 15, 2019 (GLOBE NEWSWIRE) -- The "Lead Acid Battery Market by Technology (Basic, Advanced Lead Acid), Type (Stationary, Motive), Construction Method (Flooded, VRLA), End-User (Utilities, Transportation, Industrial, Commercial & Residential), and Region - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.

The global lead acid battery market is projected to reach USD 52.5 billion by 2024 from an estimated USD 41.6 billion in 2019, at a CAGR of 4.7% during the forecast period.

This growth can be attributed to factors such as the basic requirement of cost-effective battery storage solutions in the developing countries, the rapid expansion of the telecom sector across the globe, and the rapidly expanding data centers requiring a steady supply of back-up power from uninterrupted power supplies (UPS).

The transportation segment is expected to be the largest market, by end-user, during the forecast period

The transportation segment is expected to be the largest market, by end-user, during the forecast period. This segment consists of automobiles and logistics. Majority of the implementation happens in the stat, lighting, and ignition (SLI) application in this segment. Cargo handling units like cargo vehicles, trolleys, forklifts, etc.

Advanced lead acid battery segment is expected to be the fastest-growing segment of the lead acid battery market, by technology, during the forecast period

Advanced lead acid batteries contain carbon cushioning which limits the rate at which the anode plate of the lead acid battery gets used up. This control on the plate ensures a longer life of the battery and also drastically reduces the maintenance of the cell. Thus, this segment is expected to see significant growth in the forecast period as end-users from all domains value these benefits, which make advanced lead acid batteries more valuable than the basic ones.

Asia Pacific: The largest lead acid battery market

The Asia Pacific is projected to be the largest and the fastest-growing lead acid battery market by 2024. Countries like China, Japan, and India, generally prefer cost-effective solutions to cater to their need for battery storage systems. Applications like peak shaving, integration of generated renewable energy into the national grid, consistency in the electric energy supplied, and dependable source for backup power, require the installation of lead acid battery systems.

Competitive Landscape

The global lead acid battery market is dominated by a few major players that have an extensive regional presence. The leading players in the lead acid battery market are EnerSys (US), Exide Industries (India), GS Yuasa (China), Clarios (US), Panasonic (Japan), Chaowei Power (China), Narada Power (China), HBL Power Systems (India), Crown Battery (US), NorthStar (Sweden), Hitachi Chemical (Japan), Exide Technologies (US), Teledyne Technologies (US), East Penn (US), Hankook AltasBX (Korea), HOPPECKE (Germany), C&D Technologies (US), Rolls Battery (Canada), Camel Power (Malaysia), Amara Raja Power System (India), XUPAI Battery (China), Okaya Power (India), Leoch International Technology (Hong Kong), Harbin Coslight Power (China), First National Battery (South Africa)

Key Topics Covered

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights
4.1 Attractive Opportunities in the Lead Acid Battery Market During the Forecast Period
4.2 Market, By Technology
4.3 Market, By Type
4.4 Market, By Construction Method
4.5 Market, By End-User
4.6 Market, By Industrial Segment
4.7 Market, By Region

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Cost-Competitive Energy Storage Solution
5.2.1.2 Rapid Technological Advancements and Expansion in the Telecom Sector
5.2.1.3 Easily Recyclable Compared With Lithium-Ion Batteries
5.2.2 Restraints
5.2.2.1 Low-Cost Alternatives in Energy Storage Space
5.2.2.2 Safety Related to Battery Usage
5.2.3 Opportunities
5.2.3.1 Expanding Data Center Infrastructure
5.2.3.2 Increase in Renewable Energy Generation Target
5.2.4 Challenges
5.2.4.1 Limited Usage Capacity of Lead Acid Batteries
5.2.4.2 Growth of Electric Vehicles
5.3 Supply Chain Analysis
5.3.1 Raw Material Suppliers
5.3.2 Manufacturers
5.3.3 Distributors
5.3.4 End-Users/Engine Manufacturers

6 Market, By Technology
6.1 Introduction
6.2 Basic Lead Acid Battery
6.2.1 Demand for Basic Lead Acid Battery is Driven By Its Low Selling Cost
6.3 Advanced Lead Acid Battery
6.3.1 Demand for Advanced Lead Acid Battery is Driven By Its Longer Life Cycle as Compared With Basic Lead Acid Battery

7 Market, By Type
7.1 Introduction
7.2 Stationary
7.2.1 Usage of These Batteries Would Primarily Be in the Commercial & Residential Sectors and Utilities, Which is Expected to Lead to the Growth of the Segment During the Forecast Period
7.3 Motive
7.3.1 Increased Application in the Starting, Lighting, and Ignition (Sli) and Related Transportation Sector is Expected to Boost the Segment During the Forecast Period

8 Market, By Construction Method
8.1 Introduction
8.2 Flooded
8.2.1 The Usage in Static Applications Will Help in the Growth of the Segment During the Forecast Period
8.3 Vrla Battery
8.3.1 Usage of Vrla Batteries in the Motive and Transportation Segments is Expected to Grow During the Forecast Period

9 Market, By End-User
9.1 Introduction
9.2 Utility
9.2.1 Renewable Energy Drives the Need for Lead Acid Battery in the Utility Segment
9.3 Transportation
9.3.1 Increasing Need for Efficient Management of Goods and Services in the Transportation Sector has Led to A Rise in the Demand for Lead Acid Batteries
9.4 Industrial
9.4.1 Power Backup in Industrial Applications Creates the Need for Usage of Lead Acid Batteries
9.5 Commercial & Residential
9.5.1 Demand for Advanced Lead Acid Battery is Driven By Its Longer Life Cycle as Compared With Basic Lead Acid Battery

10 Market, By Region
10.1 Introduction
10.2 Asia Pacific
10.3 Europe
10.4 North America
10.5 South America
10.6 Middle East & Africa

11 Competitive Landscape
11.1 Overview
11.2 Competitive Leadership Mapping, 2018
11.2.1 Visionary Leaders
11.2.2 Innovators
11.2.3 Dynamic
11.2.4 Emerging
11.3 Market Share Analysis
11.4 Competitive Scenario
11.4.1 New Product Launches
11.4.2 Expansions & Investments
11.4.3 Contracts & Agreements
11.4.4 Mergers & Acquisitions

12 Company Profiles
12.1 Enersys
12.2 Exide Industries
12.3 GS Yuasa
12.4 Clarios
12.5 Panasonic
12.6 Chaowei Power
12.7 Narada Power
12.8 HBL Power Systems
12.9 Crown Battery
12.1 Northstar
12.11 Hitachi Chemical
12.12 Exide Technologies

For more information about this report visit https://www.researchandmarkets.com/r/tmkze2

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