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Global Lead Acid Battery Market - Growth and Demand Forecast to 2023
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Lead calcium batteries, lead antimony batteries, valve regulated lead acid batteries, Absorbed Glass Mat (AGM) Battery, Gel Cell, SLI Batteries, deep cycle batteries and advanced lead acid batteries are a few varieties of lead acid battery. These batteries find application in automotive and traction applications, standby/back-up/emergency power for electrical installations, submarines, high current drain applications and sealed battery types available for use in portable equipment.
The global market for lead acid battery is estimated to grow during the forecast period (2017-2023) on account of the growing demand for stationary lead acid batteries in off-grid renewable energy generation. Increasing vehicle production coupled with rising adoption of vehicle electrification are anticipated to be the major factors that is expected to create vast opportunities for key players in automobile lead acid battery market.
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The major challenge faced by the lead acid battery market is the high lead content which in turn can harm the environment. Low energy density of lead acid batteries may pose as an obstruction to the growth of the global lead acid battery market. Additionally, environmental impact regulations regarding lead emission levels coupled with volatile lead prices affects the profit share of the manufacturers is expected to be a major restraint for the growth of lead acid battery.
Key players in the global lead acid battery market include Johnson Controls Inc., GS Yuasa Corporation, Exide Technologies, EnerSys, C&D Technologies Inc., Amara Raja Batteries Limited, Eaglepicher Technologies, LLC, Axion Power International and East Penn Manufacturing.
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