Press release
Lead Acid Battery Market To Be Driven By Increasing Usage In Vehicles And UPS Till 2025: Grand View Research, Inc.
Electric bikes are expected to witness growth at a CAGR of 6% from 2016 to 2025 owing to zero carbon emission and low-cost mobility. Increasing prices of gasoline and diesel fuels are expected to attract more consumers towards using these environment-friendly e-bikes. Furthermore, rising population and traffic congestion are expected to fuel the demand for e-bikes, which, in turn, is likely to boost industry growth over the upcoming years.
Browse full research report on Global Lead Acid Battery Market: (http://www.grandviewresearch.com/industry-analysis/lead-acid-battery-market?utm_source=referral&utm_campaign=Snehali_feb&utm_medium=press%20release)
Further key findings from the report suggest:
• Motive power accounted for 24.1% of market share in 2015. These batteries are used in industrial applications including forklifts, golf carts, railroads, and mining vehicles. Increasing requirement for transport vehicles and forklifts mainly in India and China on account of rapid industrialization is expected to propel demand.
• Telecom sector was the second largest application industry and is projected to grow at a CAGR of 5% from 2016 to 2025. The need for efficient management of wireless connections coupled with continuous maintenance of security levels is anticipated to stimulate the demand for lead acid batteries in the telecom industry.
• Europe accounted for 24.7% of the global market share in 2015 and is expected to foresee substantial growth over the next nine years. Widespread production of automobiles in countries including Germany, Italy, Sweden, UK, and the Czech Republic along with the presence of major automotive manufacturers, such as Audi, BMW, Mercedes-Benz, Jaguar, Volkswagen, Volvo, and Fiat, in the region is expected to aid in industry expansion.
• Asia Pacific is projected to witness remarkable growth in light of increasing need for energy storage systems. Rising demand for renewable energy along with favorable support from the government for the development of solar and wind energy is anticipated to drive the usage of energy storage systems. The abovementioned factor is expected to influence product demand over the upcoming years positively, and the market is estimated to be worth USD 39.42 billion by 2025.
• The industry is competitive in nature with major manufacturers including EnerSys, Johnson Controls, GS YUASA, Exide Technologies, East Penn, and ATLASBX Co., Ltd. dominating the global market. In October 2015, Crown Equipment Corporation launched forklift fleet run by lead acid batteries to lengthen the battery runtime and increase its efficiency.
Grand View Research has segmented the global lead acid battery market on the basis of product, construction method, application and region:
Product Outlook (Revenue, USD Million; 2014 - 2025)
• SLI
• Stationary
• Motive
Construction Method Outlook (Revenue, USD Million; 2014 - 2025)
• Flooded
• VRLA
Application Outlook (Revenue, USD Million; 2014 - 2025)
• Automotive
• UPS
• Telecom
• Electric bikes
• Transport vehicles
• Others
Regional Outlook (Revenue, USD Million; 2014 - 2025)
• North America
o U.S.
• Europe
o Germany
o UK
o Italy
o Russia
• Asia Pacific
o China
o India
• Central & South America
o Brazil
• MEA
o South Africa
o UAE
For more information: www.grandviewresearch.com
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
Press Contact
Sherry James - Corporate Relations Specialist
28 2nd Street, Suite 3036
San Francisco, CA 94105
United States
Phone: 1-415-349-0058
Email: sales@grandviewresearch.com
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