A key factor driving the growth of the market is the growth in global e-commerce market. The diverse portfolio of several product segments such as apparels, books, electronic gadgets, and cosmetics is one of the crucial factors contributing to the growth of the e-commerce market. Various e-commerce companies offer incentives such as free shipping and single-day delivery to customers in order to endure the rising competition in the market and uphold customer adherence. They also offer hassle-free exchange and return policies to increase their brand proposition.
This market research report on the global motive lead-acid battery market 2018-2022 also provides an analysis of the most important trends expected to impact the market outlook during the forecast period.
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In this report, Technavio highlights the legislative support for battery recycling as one of the key emerging trends in the global motive lead-acid battery market:
Global motive lead-acid battery market: Legislative support for battery recycling
The European Union has strict legislation for alkaline batteries. The EU Directive 2006/66/EC on batteries, issued on September 26, 2006, requires all states to reach a collection rate of 45% by September 2016, which corresponds to over 120,000 metric tons. It also specifies that half of the battery's weight received for recycling must be converted to post-consumer form. All battery manufacturers are obliged to meet the regulated recycling levels.
“Countries such as the US and Canada, has established the Corporation for Battery Recycling to support battery recycling for future use. Throughout the US and Canada, Call2Recycle runs a program with CBR. These legislations are put in place to create environment-friendly and economically sustainable business models and ensure recycling efficiency. Thus, efficient recycling can also bring about sustainable agriculture ecologically,” says a senior analyst at Technavio for research on energy storage.
Global motive lead-acid battery market: Segmentation analysis
This market research report segments the global motive lead-acid battery market by battery type (VRLA battery and FLA battery) and geographical regions (APAC, EMEA, and the Americas).
The Americas led the market in 2017 with a market share of nearly 46%. This region is expected to dominate the market through 2022, however there will be a decrease in its market share by nearly 5%.
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Five Forces Analysis
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