Lead Acid Battery Market Size, Share & Trends Analysis Report, 2021 – 2028
"A SWOT Analysis of Lead Acid Battery, Professional Survey Report Including Top Most Global Players Analysis with CAGR and Stock Market Up and Down."
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Lead Acid Battery Market Size
The global Lead Acid Battery Market is estimated to grow from USD 52.97 Billion in 2020 to reach USD 77.19 Billion by 2028, at a CAGR of 4.8% during the forecast period from 2021-2028.
Complete analysis on value (revenue), and growth rate data are provided for years 2016 to 2027. Exhaustive key regional and country level trends and growth drivers are analysed to provide granular market analysis. Report demonstrates historic revenue and growth trends data for years 2016 to 2019 and forecast data for the years 2021 to 2027.
Top Key Players Analysis:
- Crown Battery
- East Penn
- Teledyne Technologies
- C&D Technologies
- Exide Technologies
- Rolls Battery
- GS Yuasa
- Narada Power
- Chaowei Power
- XUPAI Battery
- Harbin Coslight Power
- Hitachi Chemical
- HBL Power Systems
- Exide Industries
- Okaya Power
- Amara Raja Power System
- Camel Power
- Leoch International Technology
- Hankook AltasBX
- First National Battery
An Overview of the Impact of COVID-19 on this Market:
The evolution of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
We are making continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.
The report is prepared by thorough primary and secondary research. Secondary data sources include company websites, magazines, press releases, SEC filings, various paid databases and others. Primary research involves interviews with key industry experts, KOLs, major vendors from both supply and demand side.
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Some of the valuable insights presented in the research on Lead Acid Battery Market are:
- Current evaluation of the Lead Acid Battery Market
- Projected evaluation of the global market at the end of the forecast period
- Expected CAGR during the forecast period of 2021 to 2027
- Impact of COVID-19 on production and distribution channels
- Marketing and advertising trends in Lead Acid Battery Market
- Avenues and potential opportunities for new entrants in the market
- Distinct segmentation of the Lead Acid Battery Market
- Emerging technologies that could revolutionize the market
- Regions with attractive investment opportunities in Lead Acid Battery Market
- Regions anticipated to dominate the market during forecast period
- List of key players in the Lead Acid Battery Market
Competitive Landscape and Lead Acid Battery Market Share Analysis
Anti-Spit up Formula competitive landscape provides details by vendors, including company overview, company total revenue (financials), market potential, global presence, Anti-Spit up Formula sales and revenue generated, market share, price, production sites and facilities, SWOT analysis, product launch. For the period 2021-2030, this study provides the Anti-Spit up Formula sales, revenue, and market share for each player covered in this report.
The global lead acid batteries market is segmented into Type, Construction Method, Technology and End User.
Based on the Type
SLI Type segment accounted for the maximum share the global lead acid batteries market in 2020
Based on the Type, the market is segmented into Starting, Lighting, and Ignition (SLI), Motive and Stationary Types. Amongst these, the Starting, Lighting, and Ignition (SLI) type segment dominated the market by more than 55% of the global market in 2020.
The major drivers for the growth of this market include the weight reduction in vehicles along with long life-cycle of these batteries. Hence, the rise in the sales of the vehicles indirectly drives the growth of the SLI batteries as a very cost-effective energy source.
Rise in the manufacturing of the vehicles especially in the countries like the U.S., South Korea, Mexico, Brazil, India, Japan and China is expected to increase the market share for SLI type in the forecast period.
Based on technology
Advanced technology segment of the global lead acid batteries to grow with the fastest CAGR between 2021 to 2028
Based on technology the market is divided into Advanced and Basic technologies. Amongst these, the advanced lead acid battery technology is expected to grow with the fastest CAGR of 5.4% during the forecast period.
Advanced lead acid batteries offer rapid charging on the regenerative breaking, enhances the life of the anode thus increasing the life of the battery sets. These advantages are significant to the lead acid battery as these tasks are difficult to attain with the basic lead acid battery.
In comparison with the lithium-ion batteries, these batteries are heavier but are cost-effective, operate at the low and subfreezing temperatures and do not require the active cooling.
Automotive Industry segment acquired maximum share of the global lead acid battery market in 2019
By industry the market is segmented into Automotive, Oil & Gas, Telecom, Data Centers and Others. The automotive industry segment dominated the market with more than 55% of the global market.
The lead-acid batteries have a wide application in the automotive sector and is expected to witness a rapid growth due to the growing automotive sector. There is a huge presence of various big automotive players like Nissan, Honda, Hyundai, Mitsubishi, Mahindra, Infinium Toyota, Maruti Suzuki and TATA due to which the automotive sector growth is fueled in this region.
The presence of strong distribution channel in the Asia Pacific region and the easy availability of the products at economical prices is also expected to drive the growth of this market.
By Construction Method
The VRLA construction method segment expected to account for the largest share during the forecast years
By Construction Method the market is segmented into Valve Regulated Lead Acid (VRLA) and Flooded methods. The flooded battery type dominated the market, however the VRLA segment is estimated to grow with the fastest CAGR in the near future.
The VRLA include the gel cells and the absorbent glass mat (AGM) and are the latest technology-driven construction methods. These methods help in the longevity of the batteries as well require very less maintenance as compared to the regular ones.
These batteries have observed a strong growth in the past years due to the reliable and high-power delivery coupled with the high rate of discharge. Along with this, the ease of operation and its large power reserve are some of the advantages that are offered by these batteries, thus boosting the overall growth.
Due to these various advantages offered, the VRLA batteries are more likely to be preferred over the flooded lead acid batteries in the near future.
By end user
Transportation end user segment dominated the global lead acid batteries market in 2019
By end user, the market is segmented into Industrial, Transportation, Utility and Commercial & Residential. Amongst these, the transportation segment dominated the overall market in 2019. These batteries are very cost-effective and are hence preferred for the installation purpose in the internal combustion vehicles.
Asia Pacific accounted for the largest share of the global lead acid batteries market in 2019
By region, the market is segmented into Asia Pacific, Europe, North America, Middle East & Africa and Latin America. From these, the Asia Pacific market acquired the maximum share of more than 43% in 2019.
Owing to the cost-effective energy solutions requirement, these batteries are highly preferred in this region. The growing commercialization coupled with the increasing manufacturing capabilities in the emerging countries like Indonesia, Vietnam, South Korea, Malaysia, Japan, India and China is projected to drive the utilization of these batteries.
Asia Pacific is also expected to grow with the fastest CAGR due to the increasing demand for storage batteries in India and China. Apart from this, the favorable government regulations for generating investments from the public-private partnerships and the FDI are likely to fuel the demand in the near future.
Key Questions Answered in the Report:
- Of regions mentioned and evaluated in the Lead Acid Battery report, which ones will provide ample and lucrative growth opportunities to market players?
- Which region, product and end use segment will witness a notable increase in investments pouring over the forecast period?
- How will market revenues be distributes region-wise?
- Which end-use segment will gain the most from growth in Lead Acid Battery market over the forecast period of the report?
- Which growth strategies will be impactful and which ones would be commonly used to improve market positioning?
- Which new products can be launched in the foreseeable future and what impact will it have on the market's growth trajectory?
- Research and development activities will increase in which areas and how will it contribute to the future of Lead Acid Battery market over the forecast period?
- What kind of a role will be played by regulatory environment over the forecast period?
Lead Acid Battery Market Segmentation
- Starting, Lighting, and Ignition (SLI)
- Oil & Gas
- Data Centers
By Construction Method
- Valve Regulated Lead Acid (VRLA)
By End User
- Commercial & Residential
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- Saudi Arabia
- South Africa
- Rest of Middle East and Africa
Read More Our Analysis: https://reportcrux.com/summary/7196/Lead-Acid-Battery-Market
Table of Content
2. Research Methodology
2.1. Research Methodology
2.3. Research limitations
3. Executive Summary
4. Post COVID-19 Industry Dynamics
5. COVID-19 Impact Analysis on Industry
5.1. Restrictions due to COVID-19
5.2. Demand-side Constraints
5.3. Supply-side Constraints
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