Global Lead Acid Battery for Energy Storage Market; Segmented by Product Type (Motive, Starting Lightning and Ignition Batteries, and Stationary); By Industry Vertical (Defense, Residential, Commercial, Utilities, Transportation, and Industrial); and Region –Analysis of Market Size, Share & Trends for 2016 – 2019 and Forecasts to 2030
Lead-acid battery (LAB) device is a power storage system that is used primarily in diverse products as a source of power. The battery consists of a lead dioxide cathode, an electrolyte solution of sulfuric acid, and a metal anode of sponge. It is rechargeable. Some of the significant properties shown by lead-acid battery units fueling global market growth are the lower discharge rate, large electrolyte reserves, and corrosion-resistant. It contains toxic lead but it can be replaced.
This report anticipates the Lead Acid Battery for Energy Storage market to surpass USD XX Billion by 2030, which is valued at XX billion in 2019 at a compound annual growth rate of XX%. In the forecast period, transport growth and a surge in energy storage applications would boost the industry’s demand. The rapid growth of the manufacturing industries of commercial vehicles, motorcycles, and passenger cars would also fuel demand for the goods. The increased demand for UPS is pushing demand positively across different industries, for example, banking, petroleum and gas, health and chemicals.
Global Lead Acid Battery for Energy Storage Market: Segments
Global Lead Acid Battery for Energy Storage Market has been segmented on the basis of industry vertical, and by product type. It has been further segmented on the basis of region into North America, Europe, Asia-Pacific, Mid East and Africa.
By Industry Vertical Type (in %), Global Lead Acid Battery for Energy Storage Market, 2019.
The commercial segment is anticipated to register XX% of the volume share and is expected to grow at a highest CAGR.
Global Lead Acid Battery for Energy Storage Market is segmented by industry vertical into: Defense, residential, Commercial, Utilities, Transportation, and Industrial
The demand for advanced Lead Acid batteries for commercial purposes is anticipated to increase during the forecast period on the back of opportunities such as rising seaborne trade, increased maritime tourism industry and introduction of the IMO sulfur 2020 Regulation. The commercial section consists of shipping carriers such as container ships, bulk carriers, tankers and cargo vessels and other passenger ships and other boats such as fishing vessels, and laboratory boats, dredgers, tugs, search vessels and underwater ships.
• Growing usage of electric vehicles
One of the driving forces of the world’s leading acid battery market is increased demand for E-bikes and other electric vehicles, reduced repair and operation costs and reduced dependence on traditional fuel technology. Expanding telecommunications demand is nonetheless expected to be a fresh opportunity in this market.
• Toxic Lead content
The availability of lead content as battery material, which has a negative environmental impact, is one of the constraining factors on the market. In addition, the decline in lithium battery costs has halted the market, mainly because of developments in technology provided by the former. Growing costs in various energy storage markets, which is also intended to limit the market, will likely raise lithium-ion further.
Global Lead Acid Battery for Energy Storage Market: Regions
Asia pacific was the largest market accounting for XX% of total market volume share in 2019
The increasing construction industry is anticipated to augment use of the lead-acid battery in developing nation like Vietnam, Malaysia, India, China, Japan, South Korea, and Indonesia. In view of the growing energy demands storage batteries in China and India, Asia Pacific is expected to be CAGR’s most beneficial market during the predicted period. Furthermore, favorable public investment and FDI is calculated to raise regional commodity demand, with the goal of increasing investment through public-private partnerships.
Asia Pacific: China, Japan, India, and Rest of Asia Pacific
Europe: Germany, the UK, France, and Rest of Europe
North America: The US, Mexico, and Canada
Latin America: Brazil and Rest of Latin America
Middle East & Africa: GCC Countries and Rest of Middle East & Africa
Global Lead Acid Battery for Energy Storage Market: Competitive landscape
Owing to the involvement of many suppliers the industry is segmented in nature. It is established for its presence in the US, China and Japan by a large number of retail participants. Core measures taken by businesses to expand their market share include joint ventures and acquisitions and mergers. With participants engaged in ongoing technology development and R&D work, the market is highly competitive.
Global Lead Acid Battery for Energy Storage Market: Key Players
• EnerSys (US)
o Company Overview
o Business Strategy
o Key Product Offerings
o Financial Performance
o Key Performance Indicators
o Risk Analysis
o Recent Development
o Regional Presence
o SWOT Analysis
• GS Yuasa (China)
• HBL Power Systems (India)
• HOPPECKE (Germany)
• First National Battery (South Africa)
• Leoch International Technology (Hong Kong)
• Okaya Power (India)
• Narada Power (China)
• Clarios (US)
• Hitachi Chemical (Japan)
• Camel Power (Malaysia)
• Amara Raja Power System (India)
• Exide Industries (India)
• Other prominent players
Global Lead Acid Battery for Energy Storage market report also contains analysis on:
Lead Acid Battery for Energy Storage Market Segments:
o By Propulsion Type:
Starting Lightning and Ignition batteries
o By Industry Vertical:
• Lead Acid Battery for Energy Storage Market Dynamics
• Lead Acid Battery for Energy Storage Market Size
• Supply & Demand
• Current Trends/Issues/Challenges
• Competition & Companies Involved in the Market
• Value Chain of the Market
• Market Drivers and Restraints