Lead Acid Battery Market 2018 - Enormous Market Growth Till 2024. International Players are Johnson Controls, East Penn Manufacturing Co., C&D Technologies, Exide Technologies, EnerSys, Amara Raja Group, Mutlu Akü, Crown Battery, Shandong Sacred Sun Powe

Lead Acid Battery Market will surpass USD 75 Billion by 2024, as reported in the latest study by Global Market Insights, Inc. Strengthening demand for backup power driven by growing investments toward IT infrastructure expansion will stimulate the lead acid battery market size. Massive capital spending to enhance data service businesses while establishing increased capacity for future data explosion will fuel the industry growth. For instance, according to CBRE, investment in the U.S. datacenter industry reached record levels in 2017 with a value of over USD 20 billion.

Having already established its stance in both the automotive and industrial sectors, lead acid battery market in the recent years, has been gaining exceptional importance, given that the product is extremely reliable and cost effective for critical power supply applications. Considering the environmental benefits of lead acid batteries, several end-use companies and regional governments have also shifted their focus toward the development and implementation of this product for various applications.

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Despite the growing investment scenarios in the lead-acid batteries, it is imperative to mention that the global lead acid battery industry has fallen behind the competing technologies of lithium-ion batteries – that have captured a massive chunk of more than 90% of the overall battery market for stationary energy storage. The high energy density and fast charging potential of lithium ion batteries have made them a good match and a product of choice in the rapidly proliferating business sphere of electric vehicles and power grid, which has significantly brought down on the costs of these batteries. Owing to the increasing focus toward improved power quality, the stationary lead acid market, according to reliable estimates, is projected to record a y-o-y growth of more than 5% over 2018-2024.

Given the globally increasing automotive sales, SLI lead acid batteries are catering to the increasing demand of vehicles with the start-stop functionality and micro-hybrid systems. Accounting for more than USD 25 billion in 2017, this segment of the lead acid battery market is expected to garner lucrative proceeds, owing to its growing prominence as a means to lower carbon emissions in micro-hybrid vehicles.

Lead has been further considered as the most effectively recycled commodity metal, and the lead acid batteries in this regard are the only energy storage systems in the form of batteries that are almost 100% recycled. Reports claim than around 99% of lead batteries are collected & recycled in the United States and Europe. Elaborating further, the Europe lead acid battery market has in fact outpaced the annual sales of more than 9 million units in 2017 and is further expected to propel the regional landscape subject to the growing investments and regulations pertaining to renewable power generation, green transport, and emission reduction targets.

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Considering the environmental benefits of these batteries, the renowned giants operating in the global lead acid battery market space have been indulging in product innovation and technological advancements, in compliance with energy and GHG emission targets, which would in turn have a powerful impact on the future trends of the overall industry expansion. From a valuation of USD 50 billion in 2017, a report by Global Market Insights, Inc., forecasts lead acid battery market to surpass a remuneration portfolio of USD 75 billion by 2024.

Notably industry participants in the lead acid battery market include Johnson Controls, East Penn Manufacturing, Furukawa Battery, Mutlu, Enersys, Middle East Battery Company, NorthStar Battery Company, Leoch International Technology, Amara Raja Batteries, Hoppecke Batteries, Fengfan amongst others.

About Global Market Insights:
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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