Press release
Advanced Lead Acid Battery Market: Strong Growth, Major Players, and Prominent Trends Until 2029
Advanced Lead Acid Battery Market Size
What Is The Projected Market Size Of The Global Advanced Lead Acid Battery Market And Its Growth Rate?
The Advanced Lead Acid Battery Market is projected to grow significantly with the following statistics:
- 2024 Market Size: $26.15 billion
- 2025 Market Size: $28.52 billion (CAGR of 9.1%)
- 2029 Market Size: $40.16 billion (CAGR of 8.9%)
Growth factors include automotive industry demand, development of smart grids, and focus on energy storage systems among others.
What Is Driving The Growth In The Advanced Lead Acid Battery Market?
The increase in fuel-efficiency vehicles is a major driver for the advanced lead-acid batteries market. The efficiencies refer to the distance travelled per unit of fuel consumed. Advanced lead-acid batteries play a pivotal role in supporting the car's electrical network, powering vehicle applications when the high-voltage system is shut off, and safely initializing the high-voltage battery. As per the U.S Department of Transportation, new fuel economy standards will save Americans over $23 billion in fuel costs and target an efficiency of 50.4 miles per gallon by 2031. Due to these factors, the number of fuel-efficient vehicles is driving the demand for advanced lead-acid batteries.
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Who Are the Key Players Driving Advanced Lead Acid Battery Market Growth?
Major players operating in the Advanced Lead Acid Battery Market are:
- Exide Industries Ltd.
- GS Yuasa International Ltd.
- Clarios
- Amara Raja Group
- Chaowei Power Holdings Ltd.
- Coslight Technology International Group Co. Ltd.
- East Penn Manufacturing Company
- The Furukawa Battery Co. Ltd.
- Zhejiang Narada Power Source Co. Ltd.
- Trojan Battery Company
- Enersys, Leoch International Technology Limited Inc., C&D Technologies Inc.
What Are The Key Trends In The Advanced Lead Acid Battery Market?
Prominent trends include:
- Advancements in battery technology
- Government initiatives for energy storage
- Enhanced energy density
- Advanced electrode designs
- Integration of carbon additives
What Are The Segments Of The Global Advanced Lead Acid Battery Market?
The market is segmented by:
- Type: Stationary, Motive
- Construction Method: Flooded, VRLA (Valve Regulated Lead Acid battery)
- End-User: Utility, Transportation, Industrial, Commercial And Residential
Which Region Leads The Advanced Lead Acid Battery Market?
Asia-Pacific held the largest regional share in the Advanced Lead Acid Battery market in 2024. Other important regions include Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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What Is Covered In The Advanced Lead Acid Battery Market Global Market Report?
- Market Size Analysis: Analyze the Advanced Lead Acid Battery Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Advanced Lead Acid Battery Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Advanced Lead Acid Battery Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Advanced Lead Acid Battery Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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