Press release
Lead Acid Battery Market to surpass US$ 106 Bn Mark by 2029, with Heightened Demand from Transportation Sector, Opines Fact.MR
Further, the adoption of electric vehicles and e-bikes powered with lead acid batteries have tremendously increased and are expected to unlock future growth prospects in the global market. Flooded batteries are gaining significant traction compared to Absorbent Glass Mat (AGM) batteries owing to their longer life span, along with the better cost to performance ratio than its counterparts, reveals Fact.MR.
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Key Takeaways of Global Lead Acid Battery Market
Absorbent Glass Mat (AGM) lead acid battery is estimated to create an absolute $ opportunity of around US$ 15 Bn during the forecast period and is estimated to account for 38% of the overall value opportunity in the global market by the end of 2029
The transportation sector is projected to expand 1.4X times as compared to 2019, by witnessing a value CAGR of 4%
APEJ is foreseen to maintain its dominance throughout the assessment period, accounting for more than 39% of the share in the global market
Stationary industrial lead acid battery is forecasted to expand 2.9X times compared to the commercial industrial battery by the end of forecast duration
“Growing demand for green energy and efficient performance at low costs is foreseen to offer new growth prospects for lead acid battery manufacturers” says the Fact.MR analyst
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Strategic Collaborations Remain Key Forte of Competitors
The report reveals some of the prominent market players, including Furukawa Electric Co. Ltd, Hitachi Chemical Company, Narada Power Source Co. Ltd, NorthStar, Leoch International Technology Ltd, Crown Battery Corporation, Exide Industries Limited, GS Yuasa Corporation, and others. Prominent manufacturers are focusing on acquisitions as a key strategy to strengthen their global presence. For instance,
In January 2017, Furukawa Battery Co. Ltd., a subsidiary of Furukawa Electric Co., signed an agreement with I-WIND (Inter Far East Wind International Co., Ltd.) for the supply of Ultra battery, which is to be utilized in wind power generation projects
In June 2017, Narada Power Source Co., signed a contract of cooperation in energy storage with Upside Consulting GmbH and Upside Invest GmbH & Co., KG, in order to build, operate, and sell a storage system together for the service of primary frequency regulation.
Find More Valuable Insights on Lead Acid Battery Market
Fact.MR, in its new offering, brings to fore an unbiased analysis of the global lead acid battery market, presenting historical demand data (2014-2018) and forecast statistics for the period, 2019-2029. The study divulges compelling insights on the lead acid battery market based on application (transportation (OEM transportation, aftermarket), motive industrial (OEM motive industrial, aftermarket motive industrial), stationary industrial (OEM stationary industrial, aftermarket stationary industrial), commercial (OEM commercial, aftermarket commercial), residential (OEM residential, aftermarket residential), grid storage (OEM grid storage, aftermarket grid storage), and others (OEM others, aftermarket others), product type (flooded, AGM, gel) across seven major regions.
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About the Industrial Division at Fact.MR
Expert analysis, actionable insights, and strategic recommendations of the highly seasoned industrial research team at Fact.MR helps clients from across the globe with their unique business intelligence needs. With a repertoire of over thousand reports and 1 million plus data points, the team has analyzed industrial sector across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services.
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About Fact.MR
Fact.MR is a fast-growing market research firm that offers the most comprehensive suite of syndicated and customized market research reports. We believe transformative intelligence can educate and inspire businesses to make smarter decisions. We know the limitations of the one-size-fits-all approach; that’s why we publish multi-industry global, regional, and country-specific research reports.
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