Lead Acid Battery Market - 2020 Research Analysis and Forecast 2023
All gadgets and electronic items require batteries when they are not connected to some power source. Among all batteries, the lead acid battery is one battery whose market is growing rapidly because it is considered useful and suitable for vehicles. Application of lead-acid batteries in energy storage application is expected to drive the market due to the development of commercial vehicles, motorcycle industry, and a passenger car. Uninterrupted Power Supply (UPS) is required in various sectors like chemical, healthcare, manufacturing and oil & gas. The growth of Lead Acid Battery Market is also boosted by factors like the emergence of vehicle charging infrastructure, execution of smart grid projects, increase in adoption of renewable energy systems, increasing distance of telecom towers and increasing usage of hybrid and electric vehicles. Also, the life of the lead acid battery is longer, and its cost of manufacturing is lower than the cost of batteries. Vehicles are expensive, and the high-cost batteries can make them more expensive. Therefore, lead-acid batteries are preferred over other batteries. Another plus point of lead acid batteries is that they can work in cold weather whereas many other batteries although claiming to last longer than lead-acid batteries cannot. Due to low cost, even military submarines also use lead acid batteries.
A report published by Market Research Future (MRFR), predicts that the Covid 19 Analysis On Lead Acid Battery Market is likely to grow at 8% CAGR for the forecast period from 2017 to 2023. This report segments the global Covid 19 Analysis on lead acid battery market based on product, construction method, and end-user. Product-based segmentation segments the market into motive, SLI (Starting, Lighting, and Ignition) and stationary. Segmentation via construction method segments the market into flooded and VRLA (Valve Regulated Lead Acid). Segmentation by end-users comprises of stationary industrial, automotive, commercial, electronics, industrial, oil & gas, residential, telecommunication and transportation.
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Lead Acid Battery Market Global Market - Segmentation
- Segmentation by Product Type: stationary, motive, and (Starting, Lighting, and Ignition) SLI
- Segmentation by Construction comprises VRLA (valve-regulated lead-acid), Sealed, and flooded.
- Segmentation by End-user: Industrial, Residential, Commercial, Automotive, Telecommunication, Transportation, Oil & Gas, Electronics, and Others.
- Segmentation by Applications: Automotive, UPS, Telecommunication, Electric bikes, Transport vehicles, and Others.
- Segmentation by Region: North America, Europe, Asia Pacific, and the Rest of the World.
Some of the prominent players in the global Covid 19 Analysis on Lead Acid Battery Market: Johnson Controls (U.S), ATLASBX Co. Ltd. (South Korea), Exide Technologies (U.S.), East Penn Manufacturing Co. (U.S.), NorthStar (Sweden), Crown Battery Manufacturing (U.S.), C&D Technologies, Inc. (U.S.), GS Yuasa Corp (Japan), Narada Power Source Co., Ltd. (China) and Leoch International Technology Ltd. (China) and others.
Lead Acid Battery Market Global Market - Regional Analysis
The market is observed for North America, Europe, Asia Pacific and rest of the world. Asia Pacific is expected to hold maximum share through the forecast period and is expected to dominate the global Lead Acid Battery market. China, Taiwan, South Korea, Japan, India are the leading countries in the region. This is attributed to increase in demand for automotive sector which eventually increase demand for lead acid batteries. Furthermore, North America is anticipated to have a substan"
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