Press release
Lead Acid Batteries Market: Strong Growth and Key Trends in Automotive and Renewable Energy Sector
Lead Acid Batteries Market Segments
Accelerated Market Growth Expected As Demand for Electric Vehicles Surges
What Is The Projected Market Size Of The Global Lead Acid Batteries Market And Its Growth Rate?
• 2024 Market Size: $27.27 billion
• 2025 Market Size: $29 billion (6.3% CAGR)
• 2029 Market Size: $36.83 billion (6.2% CAGR)
The market growth is attributed to factors such as strong economic growth in emerging markets, rapid growth in the automotive industry, rising demand for renewable energy, and the increasing demand for electric vehicles.
What Is Driving The Growth In The Lead Acid Batteries Market?
Expanding demand in the automobile industry is powering the growth of the lead-acid batteries market. The rise of R&D activities in the automotive lead-acid battery industry, along with government initiatives promoting electric vehicles, have surged the demand for these batteries. In 2023, the automotive industry saw considerable growth, with total vehicle production reaching over 93 million units. The increasing adoption of lead-acid batteries in electric vehicles and government efforts to promote green transportation have further boosted the lead-acid battery market.
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Who Are the Key Players Driving Lead Acid Batteries Market Growth?
• Chaowei Power Holdings Limited
• GS Yuasa Corporation
• Clarios International Inc
• EnerSys
• East Penn Manufacturing Co
• Camel Group Co., Ltd
• Zhejiang Narada Power Source Co. Ltd.
• Leoch International Technology Ltd
What Are The Key Trends In The Lead Acid Batteries Market?
• Development of graphene-enhanced lead acid batteries
• Use of carbon additives in lead acid battery electrodes
• Increased focus on valve regulated stationary lead-acid batteries
• Introduction of battery analyzers for testing lead-acid batteries
• Strategic partnerships and collaborations among market players
What Are The Segments Of The Global Lead Acid Batteries Market?
• By Type: Stationary, Motive, and Starting, Lighting and Ignition (SLI)
• By Technology: Basic Lead-Acid Battery, Advanced Lead-Acid Battery
• By Construction Method: Flooded, Valve Regulated Lead-Acid (VRLA)
• By End User: Transportation, Industrial, Commercial and Residential, Utilities
Which Region Leads The Lead Acid Batteries Market?
Asia-Pacific was the largest region in the lead-acid batteries market in 2024. The lead acid batteries market also covers regions such as Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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What Is Covered In The Lead Acid Batteries Market Global Market Report?
- Market Size Analysis: Analyze the Lead Acid Batteries Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Lead Acid Batteries 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 Lead Acid Batteries Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Lead Acid Batteries Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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