Press release
Lead Acid Battery Market Analysis by Trends, Size, Share, Company Overview, Growth and Forecast by 2024
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 market is anticipated to grow over 5% by 2024. The business growth is primarily attributed to the adoption of energy storage expansion policies and large domestic e-bike market. For instance, the government of China under its 2016-2020 Five Year Plan, promotes the adoption of distributed generation facilities, which will boost the product demand across the country. As per China Energy Storage Alliance, in 2016 lead-based batteries constituted over 69% of new installations across distributed generation and microgrid applications.
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The anticipated rise in the adoption of VRLA batteries for storing renewable energy and the subsequent push by relevant companies to gain competitive advantage has invigorated the lead acid battery market with a renewed dynamism. Besides their capacity to provide effective power-backup and uninterrupted electricity supply, disposal of batteries is also given priority considerations. A key aspect that has sustained the growth of the lead acid battery market is that these batteries are recyclable.
Lead acid batteries are crushed into small pieces during recycling process and components are separated in a vat, with the plastic floating while lead and other heavy metals dropping to the bottom. Plastic pellets and recycled lead obtained from recycling are again transported to companies to manufacture new batteries.
Partial Table of Contents (ToC) of the report:
Chapter 5 Lead Acid Battery Market, By Construction
5.1 Lead acid battery market share by construction, 2017 & 2024
5.2 Flooded
5.2.1 Global market from flooded, 2013 - 2024
5.2.2 Global market from flooded, by region, 2013 - 2024
5.3 VRLA
5.3.1 Global market from VRLA, 2013 - 2024
5.3.2 Global market from VRLA, by region, 2013 - 2024
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It is estimated that in the U.S. nearly 98% of all lead acid batteries are recycled, mostly inspired by the automotive industry. All in all, the ability to be recycled, combined with the growing number of vehicles being produced and increasing application in renewable energy systems will significantly propel the lead acid battery market, expected to cross 800 million units in sales by 2024. Johnson Controls, Enersys, Furukawa, Amara Raja, NorthStar Battery Company, East Penn Manufacturing Company, MEBCO and Fengfan are some of the major industry contenders.
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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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