Lead Acid Battery Market to hit $80 billion by 2027, Says Global Market Insights Inc.

Lead Acid Battery Industry is expected to register more than 4.5% CAGR between 2021 and 2027, supported by growing demand for high energy density battery units.

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Selbyville, Delaware, March 17, 2021 (GLOBE NEWSWIRE) --

The lead acid battery market value is projected to cross USD 80 Billion by 2027, as reported in the latest study by Global Market Insights Inc. Growing demand for energy storage devices with high energy density coupled with rising preference of personal automobile will positively impact the adoption of lead acid batteries across the globe.

Superior cranking performance and high-power delivery are few of the prominent features offered by the lead acid batteries, proliferating its demand across stationary applications. The batteries comprise of sponge metallic lead anode, lead oxide cathode and an electrolyte of sulfuric acid solution, which allows the battery to be recharged and offers cost effective power storage solution. Moreover, growing preference of mobile phone devices across the globe has fuelled a substantial growth in telecommunication infrastructure, which in turn boosts the battery deployment for reliable supply of power.

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Valve regulated lead acid batteries are gaining wide recognition across the globe on account of surging demand for reliable and economical energy supply for various applications with critical power requirement. Low discharge rate coupled with minimal maintenance requirement are few of the prominent factors complementing the adoption of these batteries over the other available options. VRLA batteries are witnessing a steady growth across the industrial truck segment accounting to the installation of flooded lead acid batteries pertaining to its low-cost structure. However, flooded batteries require high maintenance owing to which its maintenance cost is high and is witnessing a slowed down demand growth in the recent years, which in turn will boost the preference of VRLA batteries in the forecast period.

Some of the major findings of lead acid battery market report include:

  • Superior cranking performance coupled with low maintenance cost is fueling lead acid batteries preference across the automobile sector.
  • Growing investment towards infrastructural development of industrial and telecommunication sectors will propel the business outlook.
  • Increasing efforts to introduce efficient energy storage devices will fuel the product penetration in the forecast period.
  • Key players operating across the lead acid battery market are East Penn Manufacturing, Enersys, and Clarios amongst others.
  • Efficient performance and high reliability are few key features offered by valve regulated lead acid batteries, augmenting their adoption over flooded lead acid batteries.

Browse key industry insights spread across 465 pages with 1000 market data tables & 40 figures & charts from the report, “Lead Acid Battery Market Analysis By Application (Stationary {Telecommunications, UPS, Control & Switchgear}, Motive, SLI {Automobiles, Motorcycles}), Construction (Flooded, VRLA), Sales Channel (OEM, Aftermarket), Industry Analysis Report, Regional Outlook, Application Potential, Price Trend, Competitive Market Share & Forecast, 2021 – 2027” in detail along with the table of contents:

https://www.gminsights.com/industry-analysis/lead-acid-battery-market

The aftermarket sales channel is anticipated to witness a gradual growth in the forecast period on account of increasing number of battery replacements owing to the end-of-life cycle for these batteries. Availability of a dense distribution channel coupled with low cost associated with aftermarket services will positively propel the demand for aftermarket services in the forecast timeline.

The North America lead acid battery market will witness over 2% CAGR through 2027. Growing investment toward expansion & development of existing data centers across the region will favor the product deployment positively. The demand for lead acid batteries is ever expanding from the growing mainstream IT infrastructure, irrespective of the availability of other alternative energy sources.

Access the Toc of this report @ https://www.gminsights.com/toc/detail/lead-acid-battery-market

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https://www.gminsights.com/industry-analysis/lithium-ion-battery-market

About Global Market Insights

Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

 

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