Press release
Lead Acid Battery Market Outlook Presented by Future Market Insights, Inc.
In contrast to the 1.2% CAGR seen from 2016 to 2021, the lead acid battery market will increase at a 5.2% CAGR between 2022 and 2032, driven by the growing emphasis on R&D and investments in the automotive industry for electric vehicles.
The rise in global demand for energy-efficient solutions is responsible for growth. With the emergence of electric and hybrid vehicles over the past few years, the demand for lead-acid batteries has steadily increased.
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The lead acid battery market valuation is expected to reach US$ 54.3 Bn in 2021. Future Market Insights (FMI) analysis has forecast the lead acid battery sales to increase at 5.2% CAGR between 2021 and 2031. According to the study, the overall market valuation will top US$ 90.5 Bn by 2031.
As per FMI, the demand for AGM battery is expected to increase at a high pace, exhibiting 6.2% CAGR in 2021.
According to the market analysis by Future Market Insights, the expansion of automotive production facilities to cover rural and other remote areas has led to the increasing demand for lead acid battery. Rapid technological advancements in production technologies are also projected to complement market growth over the coming years.
Demand for lead acid battery is increasing with the rise in the volume of vehicle fleet in recent years. This can be attributed to an increase in aftermarket sales in regular interims for battery replacement.
The growing requirement has led to mass production and has increased the importance of process automation in the lead acid battery market. The market is shifting towards Industry 4.0 s, leading to the universal adoption of new production technologies.
There is also increasing demand from other industries for the deployment of lead-acid batteries. An increasing number of players focusing on research and development related to lead acid batteries is anticipated to have a significant contribution towards market growth in the years to come.
Key Companies Profiled:
Furukawa Electric Co., Ltd.
Hitachi Chemical Company, Ltd.
Narada Power Source Co. Ltd.
SiteTel Sweden AB (NorthStar)
Clarios
Leoch International Technology Ltd.
Yokohama Batteries Sdn. Bhd.
Enersys
Exide Industries Ltd.
GS Yuasa Corporation
Hoppecke Batterien GmbH & Co. KG.
Crown Battery Corporation
C&D Technologies, Inc.
Coslight Technology International Group Co. Ltd.
East Penn Manufacturing Co.
Chaowei Power Holdings Limited.
Zhangzhou Huawei Power Supply Technology Co., Ltd.
B. B. Battery
Camel Group Co., Ltd.
Shandong Sacred Sun Power Sources Co. Ltd.
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Key Segments Profiled in the Lead Acid Battery Industry Survey
Lead Acid Battery Market by Product Type:
Flooded Battery
AGM Battery
Gel Battery
Lead Acid Battery Market by Application:
Lead Acid Battery for Transportation
Lead Acid Battery in Passenger Cars
Lead Acid Battery in LCV
Lead Acid Battery in HCV
Lead Acid Battery in Two wheelers
Others
Lead Acid Battery for Motive Industrial
Lead Acid Battery for Stationary Industrial
Lead Acid Battery for Commercial
Lead Acid Battery for Residential
Lead Acid Battery for Grid Storage
Lead Acid Battery for Others
Lead Acid Battery Market by Sales Channel:
Lead Acid Battery in OEM
Lead Acid Battery in Aftermarket
Lead Acid Battery Market by Region:
North America Lead Acid Battery Market
Latin America Lead Acid Battery Market
Europe Lead Acid Battery Market
Asia Pacific Lead Acid Battery Market
Middle East and Africa (MEA) Lead Acid Battery Market
Nandini Singh Sawlani
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware - 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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