LONDON--(BUSINESS WIRE)--Technavio has been monitoring the global advanced lead-acid battery market since 2016 and the market is poised to grow by USD 4.89 billion during 2019-2023, decelerating at a CAGR of over 13% during the forecast period.
Read the 140-page research report with TOC on "Advanced Lead-acid Battery Market Analysis Report by Geography (the Americas, APAC, and EMEA), by Application (automotive, stationary, and others), and Segment Forecasts, 2019 - 2023".
The market is driven by the change in the energy mix. In addition, the increase in the adoption of microgrids is anticipated to further boost the growth of the advanced lead-acid battery market.
There is an increase in the demand and consumption of power around the world, which is resulting from economic development and the growing population. In addition, the growing environmental concerns caused by GHG emissions is motivating governments to adopt sustainable and renewable energy resources such as wind, solar, and biomass. However, the addition of renewable resources into the energy mix has drawbacks, which include the intermittent nature of power generation through renewables such as solar PVs. This has driven the need for energy storage systems (ESS) or solutions such as advanced lead-acid batteries. Thus, this change in energy mix is expected to drive market growth during the forecast period.
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Major Five Advanced Lead-acid Battery Market Companies:
Clarios is headquartered in the US and owns and operates businesses under various segments. The company offers advanced lead-acid battery offerings based on EFB technology. The offerings of the company are available under its several brands, such as Varta, Heliar, and Delkor.
Crown Battery Manufacturing Co.
Crown Battery Manufacturing Co. is headquartered in the US and has announced that it will move its Chicagoland SLI distribution center from Villa Park to Lombard in the US. The company offers advanced lead-acid batteries, which are used in several applications, such as off-grid solar PV systems.
East Penn Manufacturing Co. Inc.
East Penn Manufacturing Co. Inc. is headquartered in the US. The company offers UltraFlex advanced lead-acid batteries through its subsidiary Smart Storage Pty Ltd., also known as Ecoult. These batteries have a power of 20 kilowatts and allow remote monitoring by operators.
EnerSys is headquartered in the US and has business segments across regions including the Americas, EMEA, and Asia. The company offers advanced lead-acid battery-based solutions for a wide number of applications, such as energy storage and solar power generation.
Exide Technologies is headquartered in the US. The company offers several advanced lead-acid batteries, such as Tudor High-Tech Carbon Boost, Exide Premium Carbon Boost, Exide Start-Stop EFB, and Sonnenschein A400.
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Advanced Lead-acid Battery Application Outlook (Revenue, USD Million, 2019 - 2023)
Advanced Lead-acid Battery Regional Outlook (Revenue, USD Million, 2019 - 2023)
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