DUBLIN--(BUSINESS WIRE)--The "Lead Acid Battery Market by Technology (Basic, Advanced Lead Acid), Type (Stationary, Motive), Construction Method (Flooded, VRLA), End-User (Utilities, Transportation, Industrial, Commercial & Residential), and Region - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.
The global lead-acid battery market is projected to reach USD 52.5 billion by 2024 from an estimated USD 41.6 billion in 2019, at a CAGR of 4.7% during the forecast period.
This growth can be attributed to factors such as the basic requirement of cost-effective battery storage solutions in the developing countries, the rapid expansion of the telecom sector across the globe, and the rapidly expanding data centers requiring a steady supply of back-up power from uninterrupted power supplies (UPS).
The transportation segment is expected to be the largest market, by end-user, during the forecast period
The transportation segment is expected to be the largest market, by end-user, during the forecast period. This segment consists of automobiles and logistics. Majority of the implementation happens in the stat, lighting, and ignition (SLI) application in this segment. Cargo handling units like cargo vehicles, trolleys, forklifts, etc.
Advanced lead acid battery segment is expected to be the fastest-growing segment of the lead acid battery market, by technology, during the forecast period
Advanced lead acid batteries contain carbon cushioning which limits the rate at which the anode plate of the lead acid battery gets used up. This control on the plate ensures a longer life of the battery and also drastically reduces the maintenance of the cell. Thus, this segment is expected to see significant growth in the forecast period as end-users from all domains value these benefits, which make advanced lead acid batteries more valuable than the basic ones.
Asia Pacific: The largest lead acid battery market
Asia Pacific is projected to be the largest and the fastest-growing lead acid battery market by 2024. Countries like China, Japan, and India, generally prefer cost-effective solutions to cater to their need for battery storage systems. Applications like peak shaving, integration of generated renewable energy into the national grid, consistency in the electric energy supplied, and dependable source for backup power, require the installation of lead acid battery systems.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Lead Acid Battery Market, By Technology
7 Lead Acid Battery Market, By Power Rating
8 Lead Acid Battery Market, By Construction Method
9 Lead Acid Battery Market, By End-User
10 Lead Acid Battery Market, By Region
11 Competitive Landscape
12 Company Profiles
- Amara Raja Batteries Limited
- Atlasbx Co. Ltd.
- C&D Technologies, Inc.
- Camel Group Co., Ltd.
- Chaowei Power Holdings Ltd
- Crown Battery
- East Penn Manufacturing Co.
- GS Yuasa Corporation
- Hitachi (Fiamm [Hitachi Group] + Hitachi Chemical Co Ltd + Shin-Kobe Electric Machinery Co)
- HOPPECKE Batteries, Inc.
- Jiangxi Changxin Power Co. Ltd
- Johnson Controls
- Leoch International Technology Ltd.
- Narada Power Source Co., Ltd.
- Okaya Batteries
- Panasonic Corporation
- Rolls Battery
- Saft Groupe
- Teledyne Technologies
For more information about this report visit https://www.researchandmarkets.com/r/yktruk