All gadgets and electronic items require batteries when they are not connected to some power source. Among all batteries, the lead acid battery is one battery whose market is growing rapidly because it is considered useful and suitable for vehicles. Application of lead-acid batteries in energy storage application is expected to drive the market due to the development of commercial vehicles, motorcycle industry, and a passenger car. Uninterrupted Power Supply (UPS) is required in various sectors like chemical, healthcare, manufacturing and oil & gas. The growth of lead battery market is also boosted by factors like the emergence of vehicle charging infrastructure, execution of smart grid projects, increase in adoption of renewable energy systems, increasing distance of telecom towers and increasing usage of hybrid and electric vehicles. Also, the life of the lead acid battery is longer, and its cost of manufacturing is lower than the cost of batteries. Vehicles are expensive, and the high-cost batteries can make them more expensive. Therefore, lead-acid batteries are preferred over other batteries. Another plus point of lead acid batteries is that they can work in cold weather whereas many other batteries although claiming to last longer than lead-acid batteries cannot. Due to low cost, even military submarines also use lead acid batteries.
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A report published by Market Research Future (MRFR), predicts that the lead-acid battery market is likely to grow at 8% CAGR for the forecast period from 2017 to 2023. This report segments the global lead-acid battery market based on product, construction method, and end-user. Product-based segmentation segments the market into motive, SLI (Starting, Lighting, and Ignition) and stationary. Segmentation via construction method segments the market into flooded and VRLA (Valve Regulated Lead Acid). Segmentation by end-users comprises of stationary industrial, automotive, commercial, electronics, industrial, oil & gas, residential, telecommunication and transportation.
Some of the prominent players in the global Lead Acid Battery Market: Johnson Controls (U.S), ATLASBX Co. Ltd. (South Korea), Exide Technologies (U.S.), East Penn Manufacturing Co. (U.S.), NorthStar (Sweden), Crown Battery Manufacturing (U.S.), C&D Technologies, Inc. (U.S.), GS Yuasa Corp (Japan), Narada Power Source Co., Ltd. (China) and Leoch International Technology Ltd. (China) and others.
Latest Industry News
- TLASBX Co. LTD, one of the leading battery manufacturers in South Korea is going to set up its first manufacturing facility in the USA. This facility will be set up in Clarksville, Tennessee. TLASBX Co. LTD will invest $75 million and create approximately 200 jobs in Montgomery County.
- East Penn Manufacturing Co. has announced the opening of a new battery manufacturing and distribution plant in Oelwein, Iowa. This business expansion is set to bring 350 new jobs to northeastern Iowa. Iowa Economic Development Authority had approved this expansion in 2015 with the aid of $3.1 million in state tax credits and $1.75 million in direct financial assistance.
Regional segmentation of global lead-acid battery market covers Asia Pacific, Europe, North America and rest of the world (RoW). The largest market share of the lead-acid market comes from Asia Pacific region where China, India, Japan and South Korea rule the roost regarding revenue with rest of Asia Pacific serving as a sizable but profitable market for lead-acid batteries. Developing economy, high population and demand for low-cost batteries (and vehicles) have created a market for lead-acid battery in Asia Pacific region. During the forecast period, Europe market is expected to show substantial growth due to increasing number of onshore as well as offshore renewable energy industry Germany, Italy, Sweden, and the United Kingdom (UK). The North American market for a lead-acid battery comprises of United States of America (USA), Canada and Mexico. Compared to the Asia Pacific and Europe, the market for lead-acid batteries is not due to some debate regarding their efficiency but due to strict laws regarding environmental concerns.
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