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Lead Acid Battery Market Outlook 2021-2026 | Industry Analysis By Types, Applications And Manufacturers | Grand View Research, Inc.

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Lead Acid Battery Market Outlook 2021-2026 | Industry Analysis By Types, Applications And Manufacturers | Grand View Research, Inc.

June 18
13:35 2021
Lead Acid Battery Market Outlook 2021-2026 | Industry Analysis By Types, Applications And Manufacturers | Grand View Research, Inc.

“Grand View Research, Inc. – Market Research And Consulting.”
According to a new report published by Grand View Research, growing adoption of lead acid batteries in automobile, Uninterruptible Power Source (UPS) along with increasing demand for the product in off-grid power generation is expected to boost the market size.

The global lead acid battery market size is expected to reach USD 93.04 billion by 2027, registering a CAGR of 5.9% over the forecast period, according to a new report published by Grand View Research, Inc. Lead acid batteries are expected to witness a significant rise in demand owing to their increasing usage in various industries including oil and gas, nuclear power, electricity generation, gas turbine, hospitality, transport infrastructure, manufacturing, construction, mining, and off-grid renewable. Moreover, advantages associated with these batteries, such as durability, high voltage capability, low-cost, and simple manufacturing processes are expected to increase the demand.

Lead acid batteries find wide usage in automotive applications including forklifts, golf carts, and industrial cleaners. High usage of lead acid battery in forklifts on account of low cost, reliability, and well-established supply chain of the product, is likely to positively influence the market. The lead acid battery is widely used in automobiles as it delivers high power to start the engine. The superior safety, quality, and recycling process of these batteries are anticipated to augment the market growth over the forecast period.

Starting, Lighting and Ignition (SLI) was the largest product segment and accounted for more than half of global lead acid battery market revenue in 2019. Growing demand for SLI batteries in commercial vehicles and passenger cars is expected to strengthen the segment growth over the forecast period. 

Lead Acid Battery Market Report Highlights

 SLI was the biggest product segment and accounted for 53.8% of the revenue share in 2019

The flooded lead acid battery sector was the largest segment, accounting for USD 38.92 billion in 2019

In 2019, automotive application accounted for the largest market share in terms of revenue and is projected to register a CAGR of 5.9% during the forecast period.

Asia Pacific held the largest market share of USD 26.43 billion in 2019 due to the growing UPS sector as a result of the rapid development of the data centers and IT sector.

China is expected to be one of the promising markets in light of favorable government policies and high-end energy storage technologies adding USD 17.94 billion in 2019.

Major manufacturers include GS YUASA, EnerSys, East Penn, ATLASBX Co., Ltd., Exide Technologies, and Johnson Controls.

For Requesting a Sample Copy Please Visit @ https://www.grandviewresearch.com/industry-analysis/lead-acid-battery-market/request/rs1

Lead Acid Battery Market Segmentation

Grand View Research has segmented the global lead acid battery market on the basis of product, application, construction method, and region:

Lead Acid Battery Product Outlook (Revenue, USD Million, 2016 – 2027)
    • SLI
    • Stationary
    • Motive

Lead Acid Battery Construction Method Outlook (Revenue, USD Million, 2016 – 2027)
    • Flooded
    • VRLA

Lead Acid Battery Application Outlook (Revenue, USD Million, 2016 – 2027)
    • Automotive
    • UPS
    • Telecom
    • Electric Bikes
    • Transport Vehicles
    • Others

Lead Acid Battery Regional Outlook (Revenue, USD Million, 2016 – 2027)
     North America
        • The U.S.
    • Europe
        • Germany
        • The U.K.
        • Italy
        • Russia
    • Asia Pacific
        • China
        • India
    • Central and South America
        • Brazil
    • Middle East & Africa
        • South Africa

Fill The Pre-Order Enquiry Form For The Report @ https://www.grandviewresearch.com/inquiry/777/ibb

 

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About Grand View Research

Grand View Research is a U.S. & India-based market research and consultancy firm. It is headquartered in San Francisco. We provide business insights, syndicated research reports, and customized research reports to large as well as small and medium-scale enterprises. Our database features thousands of statistics and in-depth analyses on more than 45 industries. Grand View Research’s extensive database is used by Fortune 500 companies to understand the regional as well as the global business environment.

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Company Name: Grand View Research, Inc.
Contact Person: Sherry James, Corporate Sales Specialist – U.S.A.
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Phone: 1888202951
Address:Grand View Research, Inc. 201 Spear Street 1100 San Francisco, CA 94105, United States
City: San Francisco
State: California
Country: United States
Website: https://www.grandviewresearch.com/industry-analysis/lead-acid-battery-market