Lead Acid Battery Market Growth, Demand and Challenges of the Key Industry Players 2023-2028

Author: Elena Anderson

Marketing Manager

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Global Lead Acid Battery Market Research Report 2023-2028:

According to the latest report by IMARC Group, titled " Lead Acid Battery Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2 023-2028

," the global lead acid battery market size reached US$ 33.0 Billion in 2022.

A lead acid battery is a rechargeable battery with less energy density than its counterparts. It can supply high surge currents and has a relatively large power-to-weight ratio. These factors, along with its low cost, make it an essential component in motor vehicles to deliver the high current required by starter motors. Moreover, favorable attributes, such as high resistance to temperature and reduced electrolyte evaporation and spillage, are propelling the product uptake across numerous end use sectors.

It is commonly used in ample backup power supplies for telephone and computer centers, grid energy storage, and off-grid household electric power systems. It is also used in emergency lighting and to power sump pumps in case of power failure.

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Global Lead Acid Battery Market Trends:

The global market is majorly driven by significant growth in the telecom sector. In line with this, increasing investments in enterprise cloud computing and the expansion of data centers is significantly contributing to the market. Furthermore, the rising demand for uninterrupted power supply and considerable growth in the automotive industry are positively influencing the market across the globe. Apart from this, the growing consumption of electronics and rapid infrastructural developments are catalyzing the market. Besides, the escalating demand for high-capacity batteries on account of the proliferation of inverters, UPS, and switchgear is favoring the market growth.

Additionally, the leading players are focusing on strategic partnerships to increase their product portfolio and retain their footprint in the market. Other factors, including the widespread demand for electrical equipment, the rising production of electric vehicles, and prompt use of hybrid propulsion due to the growing concerns over marine pollution, are also providing a boost to the market.

Looking forward, IMARC Group expects the market is anticipated to reach a value of US$ 41.5 Billion by 2028, exhibiting at a CAGR of 4% during 2023-2028.

View Report TOC, Figures and Tables: https://www.imarcgroup.com/lead-acid-battery-market

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Key Market Segmentation

The research report includes the following segments:

Breakup by Product:

• SLI

• Stationary

• Motive

Breakup by Construction Method:

• Flooded

• Valve Regulated Sealed Lead–acid Battery (VRLA)

Breakup by Sales Channel:

• OEM

• Aftermarket

Breakup by Application:

• Automotive

• UPS

• Telecom

• Others

Breakup by Region:

• North America

• Asia Pacific

• Europe

• Latin America

• Middle East and Africa

Competitive Landscape with Key Players:

• C&D Technologies Inc

• Clarios International Inc

• East Penn Manufacturing Co

• EnerSys

• Exide Industries Limited

• GS Yuasa Corporation

• HBL Power Systems Limited

• HOPPECKE Batterien GmbH & Co. KG

• Leoch International Technology Limited

• Panasonic Holdings Corporation

• Teledyne Technologies Incorporated

1. What was the size of the global lead acid battery market in 2022?

2. What is the expected growth rate of the global lead acid battery market during 2023-2028?

3. What has been the impact of COVID-19 on the global lead acid battery market?

4. What are the key factors driving the global lead acid battery market?

5. What is the breakup of the global lead acid battery market based on the product?

6. What is the breakup of the global lead acid battery market based on the construction method?

7. What is the breakup of the global lead acid battery market based on the application?

8. What are the key regions in the global lead acid battery market?

9. Who are the key players/companies in the global lead acid battery market?

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