Press release
Growing Demand for Automobiles Driving Lead-Acid Battery Market
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The lead-acid battery market is categorized into leisure, UPS, marine, telecommunication, construction, oil & gas, utilities, automotive, and others (which include mining and military) in terms of application. During the historical period, the highest revenuewas generated by the automotive category, with a share of over 60.0% in 2017. This was due to low susceptibility to failure, easy affordability, high performance, and easy affordability of lead-acid batteries for applications in the automotive sector. This category is further projected to dominate the market during the forecast period.
A major factor leading to the growth of the lead-acid battery market is the rising demand for automobiles. The worldwide vehicle production has increased over the years due to the rising population and improving purchasing power of people in developingnations. Lead-acid batteries are utilized in automobiles for ignition, starting, and lighting purposes, along with providing electricity for vehicle accessories, such as radio, air conditioners, charging plugs, wipers, and music players. Because of all these factors, the demand for lead-acid batteries is predicted to grow significantly in the coming years.
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Competitive Landscape of Lead-Acid Battery Market
The lead-acid battery market is consolidated in nature, characterized by the presence of established companies, such as Johnson Controls International plc, GS Yuasa Corporation, Exide Technologies, and EnergySys Limited.
Some other important players operating in the market are Fujian Quanzhou Dahua Battery Co. Ltd., B.B. Battery Co. Ltd., Yokohama Industries Berhad, Hitachi Chemical Energy Technology Co. Ltd., C&D Technologies Inc., and Amara Raja Corporation.
Market Size Breakdown by Segment
Based on Construction
Flooded
Valve-Regulated Lead-acid (VRLA)
Based on Type
Standby
Motive
Starting, Lighting, and Ignition (SLI)
Based on Application
Automotive
Non-electric vehicles
Electric vehicles (EVs)
Transport vehicles
Forklifts
Utilities
Oil and Gas
Construction
Telecommunication
Marine
Uninterrupted Power Supply (UPS)
Leisure
Geographical Analysis
North America
U.S.
Canada
Europe
Germany
U.K.
France
Netherlands
Norway
Sweden
Asia-Pacific (APAC)
China
Japan
India
South Korea
Australia
Latin America (LATAM)
Brazil
Mexico
Middle East and Africa (MEA)
South Africa
Saudi Arabia
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About P&S Intelligence
P&S Intelligence is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.
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