Global Lead Acid Battery Market-Outlook, Opportunity, Projects, Application and Company Analysis 2018-2024
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The report covers market changing aspects including drivers, restraints, opportunities, and trends expected to encouragement the expansion of the Lead Acid Battery Market during the said period. The report also provides market attractiveness analysis, by geography, and market share analysis, by key players respectively. Some of the prominent participants in the Global Lead Acid Battery Market are EXIDE INDUSTRIES LTD., JOHNSON CONTROLS INTERNATIONAL PLC, EnerSys, GS Yuasa Corporation., First National Battery, NorthStar, HBL Power Systems Limited, FIAMM Energy Technology S.p.A., C&D Technologies, and Trojan Battery Company.
Rapidly Growing Energy Storage Applications to Promote the Growth of Lead Acid Battery Market
The rapidly growing energy storage applications are driving the growth of the lead acid battery market. The energy storage application is an integral part of the portable devices, consumer electronics, and the automotive sectors. The UPS is vastly used in the various industries such as manufacturing, healthcare, oil & gas and Chemicals, which in turn, to boost the growth of the lead acid battery market. The lead acid batteries offer reliable performance at less-cost that contributes to the growth of the lead acid battery market. However, increasing demand for alternate energy storage batteries such as a lithium-ion battery is hampering the growth of the lead acid battery market.
Moreover, the rapidly developing automobile industry in the countries such as India, Vietnam, Mexico and in several other countries are leading towards the vast demand for lead-acid batteries in these regions. The adoption of pollution-free electric vehicles across the globe are projected to create several opportunities for the companies working in the lead-acid battery market in upcoming years.
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Asia Pacific Region Holds the Maximum Market Share in the Lead-Acid Battery Market
Geographically, Asia Pacific region holds the maximum market share in the lead-acid battery market owing to the growing applications of lead-acid batteries in construction, automotive and the various manufacturing industries. In addition, favorable government regulation and rapidly growing demand for industrialization are also contributing to the growth of the lead acid battery market in this region.
Exide to Focus on Developing Bipolar Lead-Acid Batteries
In August 2018, amid volatility in lead prices, Exide Industries Ltd is looking to reduce its dependence on the lead by focusing on developing advanced technology bipolar lead-acid batteries.
According to Goutam Chatterjee, MD and CEO of Exide Industries, the company have already entered into a technical license agreement with ‘Advanced Battery Concepts, LLC, USA’ (ABC) for acquiring the know-how and technology in the field of bipolar lead-acid storage batteries. The company is yet to firm up on the location of the plant. In case they want to tap the e-rickshaws segment, then the plant could come up in Haldia; but if they wish to tap the telecom sector, then they would prefer to have it at Hosur in Tamil Nadu.
EXIDE INDUSTRIES LTD., JOHNSON CONTROLS INTERNATIONAL PLC, EnerSys, GS Yuasa Corporation., First National Battery, NorthStar, HBL Power Systems Limited, FIAMM Energy Technology S.p.A., C&D Technologies, Inc. and Trojan battery Company are some major players who hold the maximum share in the lead-acid battery market.
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