Lead Acid Battery Market Size To Cross USD 84.46 Billion By 2025: Grand View Research, Inc.
The global lead acid battery market is expected to reach USD
84.46 billion by 2025, according to a new report by Grand View Research, Inc.
Expansion of the automotive industry in China, India, Brazil, Mexico, South
Africa, Indonesia, and Germany is anticipated to drive industry growth.
Furthermore, increasing utilization of energy storage systems and UPS in
industries including mining, oil & gas, nuclear power, electricity
generation, gas turbine, construction, hospitality, banking, manufacturing, and
off-grid renewable is anticipated to drive lead acid battery demand over the
forecast period.
Electric bikes are expected to witness growth at a
CAGR of 6% from 2016 to 2025 owing to zero carbon emission and low-cost
mobility. Increasing prices of gasoline and diesel fuels are expected to
attract more consumers towards using these environment-friendly e-bikes.
Furthermore, rising population and traffic congestion are expected to fuel the
demand for e-bikes, which, in turn, is likely to boost industry growth over the
upcoming years.
Full
Research Report On Global Lead Acid Battery Market By Grand View
Research:
www.grandviewresearch.com/industry-analysis/lead-acid-battery-market
www.grandviewresearch.com/industry-analysis/lead-acid-battery-market
Further
key findings from the study suggest:
- Motive power accounted for 24.1% of market
share in 2015. These batteries are used in industrial applications
including forklifts, golf carts, railroads, and mining vehicles.
Increasing requirement for transport vehicles and forklifts mainly in
India and China on account of rapid industrialization is expected to
propel demand.
- Telecom sector was the second largest
application industry and is projected to grow at a CAGR of 5% from 2016 to
2025. The need for efficient management of wireless connections coupled
with continuous maintenance of security levels is anticipated to stimulate
the demand for lead acid batteries in the telecom industry.
- Europe accounted for 24.7% of the global market
share in 2015 and is expected to foresee substantial growth over the next
nine years. Widespread production of automobiles in countries including
Germany, Italy, Sweden, UK, and the Czech Republic along with the presence
of major automotive manufacturers, such as Audi, BMW, Mercedes-Benz,
Jaguar, Volkswagen, Volvo, and Fiat, in the region is expected to aid in
industry expansion.
- Asia Pacific is projected to witness remarkable
growth in light of increasing need for energy storage systems. Rising
demand for renewable energy along with favorable support from the
government for the development of solar and wind energy is anticipated to
drive the usage of energy storage systems. The abovementioned factor is
expected to influence product demand over the upcoming years positively,
and the market is estimated to be worth USD 39.42 billion by 2025.
- The industry is competitive in nature with
major manufacturers including EnerSys, Johnson Controls, GS YUASA, Exide
Technologies, East Penn, and ATLASBX Co., Ltd. dominating the global
market. In October 2015, Crown Equipment Corporation launched forklift
fleet run by lead acid batteries to lengthen the battery runtime and
increase its efficiency.
Browse
More Reports Of This Category By Grand View Research:
www.grandviewresearch.com/industry/power-generation-and-storage
www.grandviewresearch.com/industry/power-generation-and-storage
Grand View Research has segmented the global lead acid battery market on
the basis of product, construction method, application and region:
Product
Outlook (Revenue, USD Million; 2014 - 2025)
- SLI
- Stationary
- Motive
Construction
Method Outlook (Revenue, USD Million; 2014 - 2025)
- Flooded
- VRLA
Application
Outlook (Revenue, USD Million; 2014 - 2025)
- Automotive
- UPS
- Telecom
- Electric
bikes
- Transport
vehicles
- Others
Regional
Outlook (Revenue, USD Million; 2014 - 2025)
- North
America
- U.S.
- Europe
- Germany
- UK
- Italy
- Russia
- Asia
Pacific
- China
- India
- Central
& South America
- Brazil
- MEA
- South
Africa
- UAE
Access
Press Release Of This Research Report By Grand View Research:
www.grandviewresearch.com/press-release/global-lead-acid-battery-market
www.grandviewresearch.com/press-release/global-lead-acid-battery-market
About
Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco.
The company provides syndicated research reports, customized research
reports, and consulting services. To help clients make informed business
decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
For More
Information: www.grandviewresearch.com
Comments
Post a Comment