Automotive Industry Triggers the Growth of lead acid battery Market - 2026 with key players EnerSys, Exide Industries, Crown Battery, East Penn, HOPPECKE, NorthStar

The automotive segment held the highest share of the global lead acid battery market, holding nearly three-fifths of the total market in 2018, and is projected to maintain its lead position throughout the forecast period. This is attributed to application of lead-acid batteries for their robust and low-cost nature along with need for cost-effective energy solutions. However, the UPS segment is expected to grow at the highest CAGR of 5.9% from 2019 to 2026, owing to rise in demand for UPS system for its high performance, appropriate designing, and usage as an emergency power backup.

The global lead acid battery industry generated $39.7 billion in 2018, and is estimated to generate $59.7 billion by 2026, registering a CAGR of 5.2% from 2019 to 2026.

Cost efficient energy storage solutions and recyclable nature of lead acid batteries over lithium-ion batteries drive the global lead acid battery market. However, emerging and existing alternatives to this type of battery hinder the market growth. However, the requirement for expanding data centers create new opportunities in the industry.

Download Sample PDF @ https://www.alliedmarketresearch.com/request-sample/6327

By application, the automotive segment accounted for the largest global lead-acid battery market share in 2018. Lead-acid battery is used for SLI applications in the automotive industry due to its high current surge. As per the Battery, Recycling, and Manufacturing Associations, more than 250 million units of lead-acid batteries were sold in the automotive industry in 2017 due to flourishing growth in vehicle sales.

The global lead-acid battery market is already a matured sector, in terms of growth, which is expected to grow at a single-digit growth of 5.2% during the forecast period. The global lead-acid battery market growth of this market is mainly driven by lead-acid battery as a low-cost energy source and its recyclable nature. It has more than a 90% recycling rate, which means a very little amount of lead goes into waste thereby, causing least impact on environment. This further increases the popularity of lead-acid battery, thereby fueling its demand. The global battery sector is in the middle of technology revolution and governments from various geographies are looking forward to accelerating their move toward low carbon energy sources.

Based on region, Europe is estimated to witness the highest CAGR of 5.7% from 2019 to 2026, owing to focus on renewable energy production and supportive government initiatives. However, North America would grow at a CAGR of 5.4% during the forecast period. On the other hand, Asia-Pacific held the largest market share in terms of revenue, contributing to nearly two-fifths of the global lead-acid battery market in 2018, and is estimated to maintain its leadership position in terms of revenue by 2026. This is due to rapid industrialization and demand as a cost-effective energy source.

Enquire for Purchase Report: https://www.alliedmarketresearch.com/purchase-enquiry/6327

Leading market players
o EnerSys
o Exide Industries
o Crown Battery
o East Penn
o HOPPECKE
o NorthStar
o Hitachi Chemical
o Teledyne Technologies
o Hankook AltasBX
o C&D Technologies

Contact us:
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
Toll Free (USA/Canada):
+1-800-792-5285, +1-503-894-6022, +1-503-446-1141
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1-855-550-5975
help@alliedmarketresearch.com
Web: www.alliedmarketresearch.com
Follow us on: https://www.linkedin.com/company/allied-market-research

About us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

This release was published on openPR.