Lead Acid Battery Market to reach $75 billion by 2024 Detail Analysis focusing on Key Players like Johnson Controls, East Penn Manufacturing, Enersys, GS Yuasa, Koyo Battery, Leoch International, Hoppecke Batteries, Furukawa

Global Lead Acid Battery Market size is driven by increasing capital expenditure toward the expansion of data service industry along with growing capacity to handle projected data explosion. As per CBRE in 2017, investments toward datacenter industry in the U.S. reached a record high of over USD 20 billion. Lead Acid Battery Market is set to exceed USD 75 Billion by 2024. Growing demand for backup power units driven by ongoing investments toward expansion of IT sector will drive the lead acid battery market.

The U.S. lead acid market will witness robust growth on account of growing demand for reliable backup power across critical operations including safety appliances and communications. Furthermore, the expanding datacenter infrastructure and critical data storage will accelerate the product deployment. For instance, Apple, in January 2018, announced to invest a sum of USD 10 billion in next five years toward the enhancement of its U.S. datacenter capex.

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In 2017, Europe lead acid battery market surpassed annual shipments of 90 million units. Ongoing investments across renewable and green power generation and material handling equipment will drive industry growth. Lead storage batteries has served to attain the European Union's target to limit greenhouse emissions through its applications across renewable integration to the grid, start-stop functions in hybrid vehicles and regenerative braking.

China lead acid battery market is predicted to expand over 5% by 2024. The industry growth is largely attributed to the vast domestic ebikes industry along with the introduction of energy storage development policies. For instance, the national government, under its 13th Five Year Plan (2016-2020) promotes the construction of distributed energy generation in the country, thereby facilitating the deployment of these batteries. According to the China Energy Storage Alliance (CNESA), lead-acid batteries, in 2016, accounted for over 69% of the newly installed capacity in microgrids and distributed generation.

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Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:

1. Mutlu
2. Fengfan
3. Hoppecke Batteries
4. Amara Raja
5. Leoch International Technologies
6. NorthStar Battery Company
7. Middle East Battery Company
8. Enersys
9. Furukawa Battery
10. East Penn Manufacturing
11. Johnson Controls

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SLI lead acid battery market will witness growth on account of increasing automotive sales across emerging economies, driven by increasing consumer spending and significant economic growth. In addition, the growing prominence of advanced lead batteries in micro hybrid vehicles as a means to minimize carbon emissions will further stimulate the industry growth. According to the Battery Council International (BCI), as of 2017, over 99 % of the passenger cars in Europe operated on lead-based batteries.

VRLA lead acid battery market will witness robust growth on account of its technical superiority and high-power performance across diverse application sectors. In addition, the growing need for improved performance for start-stop vehicles and regenerative braking will shift the industry trends toward these batteries. The ability to offer safe handling and minimal maintenance will further support their sturdy deployment across the industry landscape.

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