Global Lead-acid Battery market is expected to reach USD 70984.58 million by the end of 2023

Global Lead-acid Battery market is expected to reach USD 70984.58 million by the end of 2023 Custom Research｜Research Report｜Management Consulting｜Seminar｜Database

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• Lead acid batteries are one of the predominantly used batteries in automobiles such as passenger cars, commercial cars and motorcycles. The rapid urbanization and industrialization trend in various developing countries across the globe is one among the chief drivers of lead acid battery market.

Increasing requirement of uninterrupted power supply in industries, corporate offices, hospitals, research institutions, educational institutes and houses further add to demand of these batteries. Implementation of smart grid projects, deployment of vehicle charging infrastructure, increasing usage of hybrid and electric vehicles, increasing installation of renewable energy systems and increasing span of telecom towers are some of the underlying demand drivers for lead acid battery across the globe.

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QYResearch • In global market, the production of lead acid batteries increases from 465377 Million VAh in 2012 to 564039 Million VAh in 2016, at a CAGR of 4.92%. In 2016, the global Lead acid batteries production market is led by China, capturing about 41.96% of global Lead acid batteries production. North America is the second-largest region-wise market with 21.81% global production share. • At present, some of the key players in global Lead Acid Battery market include Johnson Controls, Exide Technologies, CSB Battery, GS Yuasa Corporate, Enersys, EAST PENN Manufacturing, FIAMM, Chaowei Power, Tianneng Power, Camel, Fengfan, Leoch, Narada Power, Exide Industries Limited, etc.

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QYResearch • On the basis of applications the market is segmented as automotive starter, motorcycles and electric bikes, forklifts and other vehicles and UPS. Automotive Starter and Motorcycles and Electric Bikes segments collectively contributed to the 70.68% of market consumptions in 2016. • In the future, global market is expected to witness significant growth on account of rising applications, so in the next few years, lead acid batteries production will show a trend of steady growth. Global sealed lead acid battery market is projected to reach USD 70984.58 Million by 2023 at an estimated CAGR of 5.65% during the forecast period.

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