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Inclination Towards Electric Vehicles Driving Revenue Growth of the Lead-Acid Battery Market

05-22-2019 07:05 PM CET | Advertising, Media Consulting, Marketing Research

Press release from: Future Market Insights

Inclination Towards Electric Vehicles Driving Revenue Growth

Future Market Insights delivers key insights on the global lead-acid battery market in a new report titled “Lead-Acid Battery Market: Global Industry Analysis (2012-2016) and Opportunity Assessment (2017–2027).”The long-term outlook on the global lead-acid battery market remains positive with the market value expected to increase at a CAGR of 4.4% during the forecast period (2017-2027). Among product types, the AGM segment is expected to expand at a significant CAGR in terms of value over the forecast period. The global sales of lead-acid battery is estimated to be valued at US$ 61,482.2 Mn by the end of 2017. In terms of volume, APEJ is expected to account for a market share of 39.0% in the global lead-acid battery market by 2017 end and is anticipated to retain its dominance throughout the forecast period. In this report, Future Market Insights throws light on the drivers and restraints likely to impact the market during this period.

In the latest report by FMI on the global lead-acid battery market, the forecast has been revised till 2027. Previously the market in 2016 was estimated to be 464,208 thousand units and in the current release the estimated numbers have been revised to 594,125 thousand units for 2016 with a 10 year CAGR (2017-2027) at 3.7%. Owing to macro-economic growth factors (GDP, inflation, employment, spending) growth and update of scope (including two wheeler, marine, aerospace and others) in the target market the market size has been revised for the entire forecast period.

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Factors such as growing automotive production (especially electric vehicles) as well as stationary industrial applications are driving the demand for lead-acid batteries. As compared to other recent technologies such as Ni-MH and Li-ion, lead-acid battery is relatively cheaper. Moreover, lead-acid batteries are capable of being recycled completely and are likely to find more takers owing to their reduced cost of production, which makes these batteries affordable. Therefore, the demand for lead-acid battery is expected to rise exponentially in the global market over the forecast period. Some of the trending opportunities in the lead-acid battery market are inclination towards electric vehicles and collaborations and partnerships between international and regional players. Battery manufacturers are focussing on reducing pollution through research and development initiatives for sustainable technologies and are expected to benefit from the significant global demand for lead-acid batteries.

Segmentation Analysis

The lead-acid battery market is segmented on the basis of product type and application.

On the basis of product type, the flooded type lead-acid battery segment is anticipated to continue to dominate the market in terms of value over the forecast period.
On the basis of application, the stationary industrial segment is estimated to grow at a higher rate as compared to the transportation segment over the forecast period. It is expected to represent a total incremental opportunity of US$ 12,780.9 Mn between 2017 and 2027.

Regional Market Projections

APEJ is expected to be the leading region with a 39.0% market share in terms of volume in the global lead-acid battery market by the end of 2017. China is expected to hold a dominant revenue share in the APEJ lead-acid battery market through 2027. The North America market is projected to hold a significant market share in terms of value in the global lead-acid battery market over the forecast period, exhibiting a CAGR of 4.2% during the said period.

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Vendor Insights

The report highlights some of the top companies operating in the global lead-acid battery market such as Crown Battery Corporation, Furukawa Electric Co. Ltd., Narada Power Source Co. Ltd., NorthStar Battery Company LLC, Johnson Control International Plc, Leoch International Plc., Yokohama Batteries Sbn. Bhd., EnerSys, Exide Industries Ltd., GS Yuasa Corporation, Hoppecke Batterein GmbH & Co. KG., C&D Technologies, Inc., Coslight Technologies International Group Co. Ltd., East Penn Manufacturing Co. Top market players are focussing on mergers and acquisitions of small and established players to strengthen their presence in the global lead-acid battery market.

Future Market Insights is the premier provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in London, the global financial capital, and has delivery centers in the U.S. and India.

FMI’s research and consulting services help businesses around the globe navigate the challenges in a rapidly evolving marketplace with confidence and clarity. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. We continuously track emerging trends and events in a broad range of end industries to ensure our clients prepare for the evolving needs of their consumers.

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