Press release
Lead Acid Battery Market is Driven by Demand for Renewable Energy Storage Systems - Accumulatorenwerke HOPPECKE Carl Zoellner & Sohn GmbH, C&D Technologies Inc., East Penn Manufacturing Company
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Lead acid batteries work by converting the chemical energy of the lead and sulfuric acid into electrical energy. This conversion is accomplished by a series of reactions between the lead and the acid. When the lead acid battery is being charged, the lead is oxidized by the sulfuric acid, which creates lead sulfate. This lead sulfate is then reduced back to lead and sulfuric acid when the battery is discharged. The lead and sulfuric acid are then able to be reused over and over again, making lead acid batteries a very efficient and environmentally friendly way to store electrical energy.
Key Trends
One of the key trends in lead acid battery technology is the development of more efficient batteries. Newer lead acid batteries are able to store more energy than older models. This means that they can power a vehicle for a longer period of time before needing to be recharged.
Another trend is the development of longer-lasting batteries. Lead acid batteries can now last for several years with proper care. This is a significant improvement over the lifespan of lead acid batteries just a few years ago.
Finally, lead acid batteries are becoming more affordable. As the technology improves and production costs decrease, lead acid batteries are becoming more affordable for consumers. This is good news for those who rely on lead acid batteries to power their vehicles or for other applications.
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Key Drivers
The key drivers of the lead acid battery market are the rise in demand for lead acid batteries from the automotive and industrial sectors, and the increase in the use of lead acid batteries in renewable energy storage systems. The automotive sector is the largest end-use market for lead acid batteries, and the demand for lead acid batteries from this sector is expected to grow at a moderate rate in the next five years.
The industrial sector is the second-largest end-use market for lead acid batteries, and the demand for lead acid batteries from this sector is expected to grow at a faster rate than the automotive sector.
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Market Segmentation
The Lead Acid Battery Market is segmented by product, construction method, application, and region. By the product, it is segmented into SLI, stationary, and motive. By construction, it is bifurcated into the flooded lead-acid battery and valve regulated sealed lead-acid battery (VRLA). By application, the global lead-acid battery market divided across automotive, UPS, telecom, and others. The automotive segment is further divided into passenger cars, electric bikes, and transportation vehicles. Region wise, it is studied across North America, Europe, Asia-Pacific, and rest of the world.
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Key Players
The key players in the are Accumulatorenwerke HOPPECKE Carl Zoellner & Sohn GmbH, C&D Technologies Inc., East Penn Manufacturing Company, Enersys, Exide Industries Limited, GS Yuasa Corporation, Hankook AtlasBX Co. Ltd., HBL Power Systems Ltd., Hitachi Chemical Co. Ltd. and Teledyne Technologies Inc.
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