Lead Acid Batteries Market Current Trends, Business Opportunities and Demand 2020 to 2023

Global “Lead Acid Batteries Market” 2020 Research report provides information regarding market size, share, trends, growth, cost structure, global market competition landscape, market drivers, challenges and opportunity, capacity, revenue and forecast 2023. This report also includes the overall and comprehensive study of the Lead Acid Batteries market with all its aspects influencing the growth of the market. This report is exhaustive quantitative analyses of the Lead Acid Batteries industry and provides data for making strategies to increase the market growth and effectiveness.

The global lead-acid batteries market was worth $20.56 billion in 2019. It is expected to grow at a compound annual growth rate (CAGR) of 5.09% and reach $25.07 billion by 2023.

The declining price of lithium-ion batteries strongly challenges the lead-acid batteries market and restrains the market. Lithium-Ion batteries are cost-effective with offered characteristics such as high energy storage, depth of discharge, increased life span, and better performance and are popularly used in electric vehicles, and military and aerospace applications. According to Smart Electric Power Alliances article published in August 2019, the prices of lithium-ion batteries declined by 73% since 2013, from $474 to $176 in 2018. Therefore, the decrease in prices of lithium-ion batteries is challenging the demand for the lead-acid market.

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Scope of the Report:

Markets Covered: 1) By Type: Stationary; Motive; 2) By End User: Transportation; Industrial; Residential; Commercial

Companies Mentioned: EnerSys; Exide Industries; GS Yuasa; Clarios; Panasonic

Countries: Brazil, China, France, Germany, India, Indonesia, Japan, South Korea, Russia, UK, USA and Australia

Regions: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

Time-series: Five years historic and forecast.

Data: Ratios of market size and growth to related markets, GDP proportions, per capita expenditure.

Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.

Market Insights:
The introduction of absorbent glass mat (AGM), a lead-acid battery with a lower weight, better electrical reliability, and higher performance is contributing to higher demand for lead-acid batteries. According to Battery University, AGM is a preferred battery for upscale motorbikes, owing to features such as reduced weight, lesser acid spilling, and good performance at cold temperatures. These batteries are also gaining traction in a motor home, marine, and robotic applications. Therefore, advancement in lead-acid batteries will generate higher demand for lead-acid batteries market in the forecast period.

In October 2019, EnerSys, a global leader in stored energy solutions for industrial applications such as reserve power, motive power, and aerospace & defense, announced the acquisition of NorthStar for an amount of $182.5 million. The acquisition is expected to increase the sales of NorthStar TPPL batteries. NorthStar, a USA-based company is specialized in designing, manufacturing, and deploying innovative batteries and power solutions.

Growing demand in the automobile industry contributed to the growth of the lead-acid batteries market. Rising research and development activities in the automotive lead-acid battery industry, coupled with government initiatives for electric vehicles is propelling the growth of the global automotive market, thereby increasing the demand for lead-acid batteries. According to Clean Energy Ministerial Advancing Clean Energy Together, in 2019, Electric Vehicles Initiative (EVI) launched the Pilot City Programme (PCP), at the ninth Clean Energy Ministerial in Copenhagen, Denmark. The PCP aims to build a network of 100 EV-friendly cities in order to promote electric vehicles. Moreover, according to International Energy Agency (IEA), the deployment of electric cars over the past decade has grown rapidly, with 5 million electric passenger cars in 2018, 63% higher than that of previous years. The increasing adopting of lead-acid batteries in electric vehicles along with growing government initiatives to promote electric vehicles is anticipated to drive the demand for lead-acid battery market in the forecast period.

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What are the market factors that are explained in the report?

-Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.

-Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.

-Analytical Tools: The Global Lead Acid Batteries Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, SWOT analysis, feasibility study, and investment return analysis have been used to analyze the growth of the key players operating in the market.

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