Sellbyville, Delaware, July 30, 2018 (GLOBE NEWSWIRE) --
World Lead Acid Battery Market is poised to surpass USD 75 Billion by 2024, as reported in the latest study by Global Market Insights, Inc. Strengthening demand for backup power driven by growing investments toward IT infrastructure expansion will stimulate the lead acid battery market size. Massive capital spending to enhance data service businesses while establishing increased capacity for future data explosion will fuel the industry growth. For instance, according to CBRE, investment in the U.S. datacenter industry reached record levels in 2017 with a value of over USD 20 billion.
The U.S. lead acid battery market, in 2017 was valued over USD 8 billion. Increasing demand for reliable power quality across critical power applications in communications, Oil&Gas networks, and for the data storage in Uninterruptible Power Supply (UPS) will propel the industry growth. In addition, the robust expansion of datacenter infrastructure will accelerate the deployment of these batteries. For instance, Apple announced to boost its U.S. datacenters capex by an investment of USD 10 billion over the next 5 years.
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Europe lead acid battery market, in 2017 exceeded annual sales of 90 million units. Growing investments in industrial material handling equipment, green transport and renewable power generation will augment the industry growth. Lead-based batteries play an imperative role in attaining the EU’s emission reduction targets, through regenerative braking and start-stop functionality in micro hybrid vehicles, and for grid stabilization and renewable energy storage.
China lead acid battery market is predicted to expand over 5% by 2024. The industry growth is largely attributed to the vast domestic ebikes industry along with the introduction of energy storage development policies. For instance, the national government, under its 13th Five Year Plan (2016-2020) promotes the construction of distributed energy generation in the country, thereby facilitating the deployment of these batteries. According to the China Energy Storage Alliance (CNESA), lead-acid batteries, in 2016, accounted for over 69% of the newly installed capacity in microgrids and distributed generation.
Browse key industry insights spread across 550 pages with 977 market data tables & 38 figures & charts from the report, “Lead Acid Battery Market” in detail along with the table of contents:
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SLI lead acid battery market will witness growth on account of increasing automotive sales across emerging economies, driven by increasing consumer spending and significant economic growth. In addition, the growing prominence of advanced lead batteries in micro hybrid vehicles as a means to minimize carbon emissions will further stimulate the industry growth. According to the Battery Council International (BCI), as of 2017, over 99 % of the passenger cars in Europe operated on lead-based batteries.
VRLA lead acid battery market will witness robust growth on account of its technical superiority and high-power performance across diverse application sectors. In addition, the growing need for improved performance for start-stop vehicles and regenerative braking will shift the industry trends toward these batteries. The ability to offer safe handling and minimal maintenance will further support their sturdy deployment across the industry landscape.
Notably industry participants in the lead acid battery market include Johnson Controls, East Penn Manufacturing, Furukawa Battery, Mutlu, Enersys, Middle East Battery Company, NorthStar Battery Company, Leoch International Technology, Amara Raja Batteries, Hoppecke Batteries, Fengfan amongst others.
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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.