Lead Acid Battery Market Set to Soar Past USD 57.57 Billion by 2030
The global Lead Acid Battery market size is expected to reach USD 57.57 billion by 2030 and exhibit a CAGR of 5.0% in the forecast period (2023−2030), according to Skyquest’s latest research report. These batteries are known for their reliability, durability, and well-established technology, building trust among consumers and industries, cost-effective compared to some alternative battery technologies, making them an attractive choice for budget-conscious consumers, and industries are fueling the market’s growth.
Westford, USA, Jan. 04, 2024 (GLOBE NEWSWIRE) — According to SkyQuest’s latest global research of the Lead Acid Battery market, ongoing research and development efforts are focused on improving the performance and efficiency of lead-acid batteries, including enhancements in electrode materials and manufacturing processes are the trends that aid in the market’s growth.
Browse in-depth TOC on the “Lead Acid Battery Market”
- Pages – 157
- Tables – 61
- Figures – 75
A lead-acid battery is a rechargeable battery that uses lead and sulfuric acid to produce electricity. It is the oldest type of rechargeable battery and is still widely used today, particularly in automobiles and industrial applications. Lead-acid batteries are relatively cheap and can provide high surge currents, making them ideal for starting engines and powering other high-power devices.
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Prominent Players in Lead Acid Battery Market
- Clarios
- EnerSys
- Exide Industries Limited
- East Penn Manufacturing Company
- GS Yuasa Corporation
- C&D Technologies
- Amara Raja Batteries
- Leoch International Technology Limited
- Panasonic Corporation
- Johnson Controls International
- Robert Bosch
- KOYO BATTERY CO., LTD
- PT. Astra Otoparts
- Thai Bellco Battery Co. Ltd.
- HBL Power Systems
- Su-Kam Power Systems
- Okaya Power
- Base Corporation
- Southern Batteries
- True Power International
- Lento Industries
Valve Regulated Lead Acid (VRLA) Batteries Demand to Grow Substantially in the Forecast Period
Valve Regulated Lead Acid (VRLA) batteries dominate the global online market as they are known for their maintenance-free operation. They do not require the periodic addition of water, making them user-friendly and cost-effective over the battery’s lifespan. This characteristic particularly appeals to various sectors, including telecommunications and residential backup power.
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Automotive Batteries is the Leading Application Segment
Automotive batteries have traditionally been a significant driver of lead acid battery sales. They are essential for starting the internal combustion engine (ICE) engines, providing power to the vehicle’s electrical systems, and stabilizing voltage. The dominance of this segment is primarily because virtually all gasoline and diesel vehicles rely on lead-acid batteries.
North America is the leading Market Due to the Technological Advancements
Region-wise, North America is one of the largest growing markets with a huge emphasis on technological advancements. The region’s booming automotive industry, especially in China and India, has driven substantial demand for automotive lead acid batteries due to the high volume of gasoline and diesel vehicles. The rapid industrialization of APAC countries has led to increased use of lead-acid batteries in industries such as telecommunications, UPS systems, and material handling equipment.
A recent report thoroughly analyzes the major Lead Acid Battery market players. This comprehensive evaluation has considered several crucial factors, such as collaborations, mergers, innovative business policies, and strategies, providing invaluable insights into the key trends and breakthroughs in the market. Additionally, the report has carefully scrutinized the market share of the top segments and presented a detailed geographic analysis. Finally, the report has highlighted the significant players in the industry and their ongoing endeavors to develop innovative solutions that cater to the ever-increasing demand for Lead Acid Battery.
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Key Developments in Lead Acid Battery Market
- Amara Raja Batteries (ARBL) revealed its intentions to broaden its lead-acid business by exploring several avenues for geographical expansion beyond the borders of India. As part of this expansion strategy, the company specifically targets the growth of its lead-acid business in regions such as Africa, the Middle East, and South-East Asia.
Key Questions Answered in Lead Acid Battery Market Report
- What specific growth drivers will impact the market during the forecast period?
- Can you list the top companies in the market and explain how they have achieved their positions of influence?
- In what ways do regional trends and patterns differ within the global market, and how might these differences shape the market’s future growth?
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