Pune, India, Jan. 20, 2022 (GLOBE NEWSWIRE) -- Fortune Business Insights in their new study has projected the global lead acid battery market to witness remarkable growth in the coming years on account of the reliability features of lead acid induced batteries. The study is titled, “Lead Acid Battery Market Size, Share and Global Trend By Type (Flooded Lead Acid Batteries, Sealed Lead Acid Batteries), By End User (Automotive, Oil & Gas, Utilities, Telecommunications, Construction, Marine), By Application (Portable-Rechargeable, Stationary, Motive/Traction) and Geography Forecast till 2022-2029”. According to the study, inclination towards electric vehicles is a major factor boosting growth.
Lead acid batteries are usually categorized into Sealed Acid Batteries (SLA) and Wet Cells or Flooded batteries. Among these, the flooded cells segment is more in demand due to the least cost per amp-hour make and cost efficient solution that make flooded cells useful in igniting and lighting in the automotive industry.
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List of Key Players in Lead Acid Battery Market:
- FIAMM
- Luminous Power Technologies Pvt. Ltd.
- Trojan Battery Corporation
- Johnson Controls
- CSB Battery
- Amara Raja Batteries Ltd.
- East Penn Manufacturing
- Excide Industries Ltd.
- HBL Power Systems Ltd.
- North Star Battery
- Su-Kam Power Systems Ltd.
- Sebang Global Battery
- Okaya Power Pvt. Ltd.
- EnerSys
COVID-19 Impact-
The global pandemic has plummeted the growth of several industries and markets, including the biogas market. The lockdowns, social distancing norms, and curfews have caused massive disturbances in the operations and the supply chain networks. Delayed projects, unavailability of raw materials, reduced available workforce, etc., are stagnating the growth of the market. The global impact of the COVID-19 crisis is expected to gradually fade away as nations are trying to return to pre-pandemic levels. It is uncertain to say how long the situation may persist this way. Nonetheless, our research report’s in-depth analysis will help you gain an exhaustive understanding of this niche market.
To get to know more about the short-term and long-term impact of COVID-19 on this market, please visit: https://www.fortunebusinessinsights.com/industry-reports/lead-acid-battery-market-100237
Drivers & Restraints
Surging Demand for Vehicles with High Fuel Efficiency to Boost Market
The rise in price of fuel worldwide and increasing restrictions imposed in emission of carbon into the atmosphere is fueling the demand for vehicles that have high fuel efficiency. This leads to the demand for electrically chargeable vehicles with lead-acid batteries that will not only run with efficiency but also cause no harm to the environment in the form of harmful gas emissions. This is a major factor boosting the global market for lead acid battery.
Lead acid batteries are comparatively more economical than lithium-ion type batteries and nickel-metal batteries, and this helps to increase its demand in the global market. Major trend recognized in the lead-acid battery market is the advancement in technology in the battery systems. This, accompanied by the switching preference to stationery lead-acid batteries in telecom industries from the conventional generators.
Another important factor boosting the lead acid battery market is the rising demand for UPS systems and vehicles worldwide. The increasing demand from power, automotive, telecom, and healthcare industries in emerging economies is anticipated to augment growth of the market in the forecast duration. In addition to providing energy to vehicles, lead acid batteries also provide power to the vehicle accessories namely radio, air conditioners, wiper, and also charging plugs.
Regional Insights:
Market to Witness Remarkable Growth in Asia Pacific on Account of Rising Number of E-Mobility Projects
Geographically, the global lead acid battery market is anticipated to be dominated by Asia Pacific. This is owing to the fact that this region has great potential for development in areas of China and South Asia. This, coupled with the development of e-mobility projects in most major nations are anticipated to boost the market in the coming years. In addition to this, the market in Asia Pacific is likely to witness high growth on account of the large gap in supply-production of electricity, lack of grid infrastructure, and continuous increase in demand for reliable source of energy in the forecast period.
The market in Europe is also anticipated to show impressive growth on account of the already tightened pollution standard. This, coupled with the rising need for alternative energy source is anticipated to boost the Europe market. In addition to this, the conversion of public transportation utilities into higher recycling rate and electric source in Europe is anticipated to stimulate the regional demand for lead-acid batteries.
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Key Points from TOC:
1. Introduction
1.1. Research Scope
1.2. Market Segmentation
1.3. Research Methodology
1.4. Definitions and Assumptions
2. Executive Summary
3. Market Dynamics
3.1. Market Drivers
3.2. Market Restraints
3.3. Market Opportunities
4. Key Insights
4.1 Global Statistics — Key Countries
4.2 New Product Launches
4.3 Pipeline Analysis
4.4 Regulatory Scenario — Key Countries
4.5 Recent Industry Developments — Partnerships, Mergers & Acquisitions
5. Global Lead Acid Battery Market Analysis, Insights and Forecast
5.1. Key Findings/ Summary
5.2. Market Analysis — By Product Type
5.3. Market Analysis — By Distribution Channel
5.4. Market Analysis — By Countries/Sub-regions
……………
11. Competitive Analysis
11.1. Key Industry Developments
11.2. Global Market Share Analysis
11.3. Competition Dashboard
11.4. Comparative Analysis — Major Players
12. Company Profiles
12.1 Overview
12.2 Products & Services
12.3 SWOT Analysis
12.4 Recent developments
12.5 Major Investments
12.6 Regional Market Size and Demand
13. Strategic Recommendations
TOC Continued……………….
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