Market Size – USD 65.07 Billion in 2019, Market Growth – CAGR of 5.4%, Market Trends – Fast-paced industrialization across the emerging countries across the world
The global lead acid battery market is expected to be valued at USD 100.46 Billion in 2027 fromUSD 65.07 Billion in 2019, registering a CAGR of 5.4% through the forecast period. A lead acid battery is an energy storage system that is composed of lead-dioxide cathode, sulfuric acid solution electrolyte, and sponge metallic lead anode. These batteries are resistant to corrosion and have a low discharge rate and large electrolyte reserves. Lead acid batteries are rechargeable and more cost-efficient than the latest battery technologies, with low maintenance and higher power delivery. The VRLA (valve regulated lead acid) batteries are among the most commonly used. Due to their high-power density and easy installation process, the VRLA batteries find significant application in off-grid power systems and portable electrical devices.
The global lead acid battery market has gained significant momentum over the last few years, owing to the increasing applications of lead acid batteries in the telecommunication, automotive, construction, energy storage, oil & gas, chemical, pharmaceutical industries. A significant surge in the sales of electric vehicles (EVs) due to growing environmental concerns has boosted the demand for lead acid batteries, thereby fueling the market growth. The other major driving forces for the global lead acid battery market are the rapidly growing demand for renewable energy sources, the increasing need for cost-effective battery storage solutions in the telecommunication sector, the developing data center infrastructure, and extensive usage in UPS (uninterrupted power source) systems. Moreover, rapid industrialization, augmenting demand for off-grid power generation, and the flourishing automotive sector further drive the market growth.
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Key findings of the report:
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For the purpose of this report, the global lead acid battery market has been segmented on the basis of product type, construction method, application, end-user industry, sales channel, and region:
By Product Type (Revenue, USD Million; 2017-2027)
By Construction Method (Revenue, USD Million; 2017-2027)
By Application (Revenue, USD Million; 2017-2027)
By End-user Industry (Revenue, USD Million; 2017-2027)
By Sales Channel (Revenue, USD Million; 2017-2027)
By Region (Revenue, USD Million; 2017-2027)
Table Of Content:
Chapter 1. Market Synopsis 1.1. Market Definition 1.2. Research Scope & Premise 1.3. Methodology 1.4. Market Estimation Technique Chapter 2. Executive Summary 2.1. Summary Snapshot, 2018 – 2026 Chapter 3. Indicative Metrics 3.1. Global rise in automobiles 3.2. Expansion of Industrial sector 3.3. Lower cost of lead-acid battery 3.4. APAC to dominate the market Chapter 4. Lead Acid Battery Segmentation & Impact Analysis 4.1. Lead Acid Battery Segmentation Analysis 4.2. Lead Acid Battery Market Value Chain Analysis, 2016-2026 4.3. Regulatory framework 4.4. Lead Acid Battery Market Impact Analysis 4.4.1. Market driver analysis 4.4.1.1. Cost competitive energy storage solution 4.4.1.2. Increasing demand for uninterrupted power supply 4.4.1.3. Datacenter Infrastructure expansion 4.4.1.4. Expansion in automotive industry 4.4.1.5. Growth of telecom sector 4.4.1.6. Advancement in technology 4.4.2. Market restraint analysis 4.4.2.1. Increasing application of Lead-Ion Batteries 4.4.2.2. Stringent government regulations
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