Global Lead Acid Battery Market, By Type (Gel Batteries, Absorbent Glass Mat (AGM) Batteries, Motive, Stationary and Other), By Application (SLI (Start, Light, and Ignition Batteries), Telecommunications, Automobile Fields, UPS/Backup, and Other), By Technology (Advanced and Basic Lead Acid Battery), By Construction Method (Vrla Battery and Flooded), By End-User (Industrial, Transportation, Utility, Commercial and Residential), By Geography (APAC, North America, Latin America, Europe, Middle East and Africa) – Growth, Opportunity, and Forecast to 2028
Global Lead Acid Battery Market Overview
A lead-acid battery is an electrochemical power storage device in which the lead cell is mainly divided into three components cathode, anode, and electrolyte. the lead-acid battery is used in a wide range of applications such as automobile, telecommunication industry, marine, manufacturing, chemical & pharmaceutical industries, and others. Furthermore, manufacturers are investing in lead-acid production due to the upcoming demand, for instance, CATL recently invested around 2.5 billion USD to build two battery plants,s, and some other companies investing as well like Tesla, Panasonic, Dyson, and others.
Moreover, lithium-ion battery is the major alternative to the lead-acid battery but due to cheaper prices compared to other battery storage is the crucial factor for the lead-acid battery market. The demand for lead-acid batteries is gaining enormous prominence and promising exponential growth. Due to the growing demand for the automotive sector (electric vehicles) and the expansion of data center infrastructure in developing countries. In addition, the overall market for lead-acid batteries is growing as technological advances in telecommunications increase and new products are launched.
According to Pheonix Research “Global Lead Acid Battery Market” was valued at US$XX Million in 2020 and is forecasted to reach a market value of US$XX Million by 2028. North America dominated the global Lead Acid Battery market and is projected to witness a CAGR of XX% during the forecast period 2021 to 2028. The Asia Pacific holds the largest market share in global Lead-Acid Batteries followed by Europe and the North American region. Due to the rapid industrialization & development of the automotive industry and sales in the region, China and India dominate the Asia Pacific market. In addition, the region required cost-effective energy storage devices. Population growth and economic development are also important growth drivers for the region.
COVID-19 Impact: The universal spread of the COVID-19 pandemic has been an unprecedentedly harsh test for the development of the global economy, and the global economy faces even greater downward pressure. The impact of the pandemic on the economy has resulted in a slowdown or slowdown in economic activity in many countries, reduced global demand, significantly reduced trade and investment, and disrupted global production chains. Recovery scenarios based on demand are forecasted and analyzed in this study.
The prominent players in Lead Acid Battery Market are Hitachi Chemical, Johnson Controls INC, Crown Battery, Panasonic Battery, Exide Technologies, HBL Power Systems Ltd, GS Yuasa, Su-Kam Power Systems Ltd, EnerSys, CSB Battery, Trojan Battery Company, Okaya Power Pvt. Ltd, Sebang Global Battery, East Penn Manufacturing, Clarios, Fiamm, NorthStar, Haze Batteries Inc., ACDelco.
The Exhaustive Report on the “Global Lead Acid Battery Market has been segmented into type, technology, application, end-user, construction method, and region. Based on the type market is segmented into gel batteries and absorbent glass mat (AGM) batteries. Stationary, motive, and others. Based on the application, the market is segmented into SLI (start, light, and ignition batteries), and automobile fields. Based on technology market is segmented into basic lead-acid batteries and advanced lead-acid batteries. Based on the construction method market is segmented into VRLA battery and flooded.
Based on the end-user market segmented into transportation, utility, industrial, residential, and commercial. The countries covered in the lead acid battery report are U.S. and Canada in North America, Mexico, Brazil, Columbia, and the Rest of Latin America as part of Latin America, Germany, Italy, U.K., Spain, Belgium, Netherlands, France, Switzerland, Rest of Europe in Europe, China, Japan, Singapore, India, South Korea, Australia, and Rest of Asia-Pacific, GCC countries, South Africa, Rest of the Middle East and Africa as a part of MEA.