Overview:

The global lead acid battery market is valued for more than US$ XXX.X Mn in 2019 and expected to reach a value of US$ XXX.X Mn by 2029 with a significant CAGR of around XX.X% over the forecast period of 2019-2029. Lead acid battery is an energy storage device. This battery is a rechargeable battery hence has wide applications in automotive and telecommunication sector. Lead acid battery includes lead cell, which is a sponge lead and lead peroxide that converts chemical energy into electric energy. This battery available in comparatively low cost and have higher cell voltage.

Market Dynamics:

Flourishing automotive sector across the globe, growing passenger vehicle sale in emerging economies, and growing demand of batteries for off-grid power generation are major factors driving growth of the global lead acid battery market. Also, increasing road transportation and demand for energy storage devices are other factors expected to further support growth of the target market.

In addition, rising starting, lighting, and ignition (SLI) applications in the vehicles, rising renewable energy production, expansion of telecommunication sector, and industrialization are some other factors expected to propel growth of the target market in the near future.

However, factors such as growing preference for lithium-ion batteries in many sectors and fluctuating raw material prices are key factors expected to hamper the growth of global market to a certain extent.

Key Trends:

The increasing number of strategic mergers and acquisitions in the market space in order to improve the battery technology and market footprint is a key trend expected to support growth of the global lead acid battery market. For example, in November 2017, Blackbird Group LLC has acquired Power Sonic Corporation - a lead acid battery manufacturing company.

In addition, major players approach towards the production capacity expansion and product launches through introduction of new manufacturing unit is another trend witnessed in the target market. For instance, in April 2019, GS Yuasa has announced launch of operations at its newly opened lead acid battery storage plant in Manisa, Turkey. This is expected to increase the lead acid battery production capacity of company and is expected to be around 2 Mn units per year from this plant.

Regional Analysis:

For detailed understanding of market dynamics, the global market is analyzed across key regions viz. North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific lead acid battery market is accounted for major revenue share in the global lead acid battery market in 2019. This is owing to growing automotive production countries in the region and rising production of electronics product in countries such as China, South Korea, and Japan.

In addition, growing industrialization in countries such as India and China is resulting in high demand for UPS systems and storage battery systems are other factors expected to further support growth of the lead acid market in region. However, the North America and Europe are expected to witness considerable growth over the forecast period.

Scope of the Report:

Detailed Segmentation:

Global Lead Acid Battery Market, By Technology:

• Basic Lead Acid Battery
• Advanced Lead Acid Battery

Global Lead Acid Battery Market, By Product Type:

• Stationary
• Motive

Global Lead Acid Battery Market, By Construction Method:

• Flooded
• Valve Regulated Lead Acid (VRLA)

Global Lead Acid Battery Market, By End Use:

• Utility
• Automotive
• Industrial
• Commercial and Residential

Key Players Covered:

Key players operating in the global lead acid battery market include, East Penn Manufacturing Co. Inc. Exide Technologies, Amara Raja Batteries Ltd., GS Yuasa Corporation, Hitachi Chemical Company, Ltd., Crown Battery, Panasonic Corporation, EnerSys, Teledyne Technologies Incorporated, and C&D Technologies Inc.

Key Features of the Study:

Foresight Market Research provides detailed analysis on global market in our report- Global Lead Acid Battery Market by technology, product type, construction method, end use, and region. The report provides market size (US$ Mn) and compounded annual growth rate (%) for the forecast period: 2019 – 2029, considering 2018 as the actual year. The report also contains in-depth analysis about market drivers, restraints, opportunities, new product launches, product approval, ongoing trends, and regional outlook. The report delivers competitive analysis about leading players in the global lead acid battery market based on various parameters such as company overview, product portfolio, regional presence, financial performance, distribution strategies, key developments, marketing strategies, and future plans. The analysis from the report would acquaint the marketers and management authorities of companies to make the appropriate decision with respect to their future product launch, market expansion, and marketing tactics used overall the globe.