The lead-acid battery market is presumed to develop significantly in coming years. Some of the key players dominating the market share are GS Yuasa Corp, Narada Power Source Co. Ltd, Leoch International Technology Ltd., NorthStar & Crown Battery Manufacturing.
Rising urbanization is creating a huge demand for UPS in industrial sectors, technological advancements and augmented use of electric & hybrid vehicles. These are also some of the factors propelling the growth of the global lead-acid battery market.
Thus, the lead-acid battery market size across the globe is expected to mount at a CAGR of more than X% and reach a value of $XXX billion over the forecast period. However, there are also certain factors hindering the market growth like strong competition and strict government regulations.
An electrochemical energy storage device that uses lead peroxide & sponge lead for converting the chemical energy to electrical power for performing any work (for instance starting car engine) is called a lead-acid battery. Lead-acid batteries were invented by a French physicist Gaston Planté in the year 1859 and initially was demonstrated to a French Academy of Sciences in 1860.
Lead-acid batteries are widely known for rechargeable energy storage solutions for many vehicles (like cars & trucks) and for being an upright choice for boats, submarines & uninterruptible power supplies (UPS).
Global lead-acid battery market is classified into different segments like by product, construction method, application or end-user and key regions operating in the lead-acid battery market.
- Product Segmentation
In the product segment, SLI batteries are predicted to grow at an average rate as compared to motive and stationary batteries. On the other hand, stationary batteries are foreseen for witnessing maximum expansions over the forecast period.
This is the result of an aggregating requirement for power backup in various sectors like railway, oil & gas, and energy generation. Moreover, mounting energy consumption around the globe is projected to push the need for stationary batteries (mostly as a source of backup at the time of power cuts).
- Construction method Segmentation
Since past few decades, flooded batteries were a leading product in the lead-acid battery market across the globe but rising demand for highly efficient power output in marine applications is expected to augment its demand again in near future.
VRLA batteries will remain accountable for witnessing the highest growth over the forecast period in accordance with the significant growth for UPS systems in the global market
- Application or end-user Segmentation
- Transport vehicles
- Electric bikes
According to the application segment, automotive has been one of the largest sections in 2015 and was valued for approximately 59% of the total global lead-acid batteries market share.
- Geographical Segmentation
- North America (U.S)
- Europe(Germany, Italy, Russia, UK)
- Asia Pacific(China, India)
- Central & South America(Brazil)
- Middle East and Africa(South Africa, UAE)
In the geographical segment, Asia Pacific market is expected to witness the highest growth over the forecast period due to its rising need for energy storage structures. Additionally, usage of energy storage systems is expected to see a tremendous growth owing to the rising demand for renewable energy along with government’s provision for the development of solar and wind energy.
Finally, the global lead-acid battery industry is exceptional of the competitive landscape because of the major global players are constantly involved in product innovation and research & development.
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Some of the key players in competitive intelligence of the global lead-acid battery market include:
- GS Yuasa Corp
- Narada Power Source Co. Ltd.
- Leoch International Technology Ltd.
- Crown Battery Manufacturing
- C&D Technologies, Inc.
- Johnson Controls
- ATLASBX Co. Ltd.
- Exide Technologies
- East Penn Manufacturing Co.
- Trojan Battery
- HOPPECKE Batteries
- Saft Groupe
- Zibo Torch Energy Co. Ltd.
- Panasonic Corporation
- Coslight Technology International Group Co. Ltd.
- Hoppecke Batteries Inc.
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