The lead acid battery market valuation is expected to reach US$ 54.3 Bn in 2021. Future Market Insights (FMI) analysis has forecast the lead acid battery sales to increase at 5.2% CAGR between 2021 and 2031. According to the study, the overall market valuation will top US$ 90.5 Bn by 2031.
As per FMI, the demand for AGM battery is expected to increase at a high pace, exhibiting 6.2% CAGR in 2021.
Get | Download Sample Copy with Graphs & List of Figures:
https://www.futuremarketinsights.com/reports/sample/rep-gb-54
Growth can be attributed to the increase in the demand for energy-efficient solutions across the globe. The demand for lead acid battery has increased consistently with the advent of the electric and hybrid vehicles over past few years.
Key factors fueling the demand for lead acid battery include initiatives undertaken to introduce green energy solutions in the automotive industry. Leading lead acid battery manufacturing companies are focusing on expanding their production and distribution capacities in various countries. To improve their industrial research activities, some companies are collaborating directly with regional manufacturers.
The transportation segment is among the leading end users of lead acid battery. Regionally, China has emerged as a highly lucrative market for the production and export of lead acid battery. This can be attributed to increasing demand from the country’s automotive industry, coupled with the adoption of the advanced technology and higher production capacity.
For More Information or Query or Customization Before Buying, Visit:
https://www.futuremarketinsights.com/customization-available/rep-gb-54
By Segment:
By Product Type:
- Flooded Battery
- AGM Battery
- Gel Battery
By Application:
- Transportation
- Passenger Cars
- LCV
- HCV
- Two wheelers
- Others
- Motive Industrial
- Stationary Industrial
- Commercial
- Residential
- Grid Storage
- Others
By Sales Channel:
- OEM
- Aftermarket
By Region:
- North America
- Latin America
- Europe
- South Asia & Pacific
- East Asia
- Middle East and Africa (MEA)
Competitive Landscape:
Companies operating in the lead acid battery market are aiming at strategic collaborations and partnerships with other manufacturers to expand their manufacturing capacity. For instance:
- In March 2019, GS Yuasa Corporation has announced that GS Yuasa International Ltd. launched a new automotive lead-acid storage battery plant operated by equity method affiliate inci GS Yuasa Akü Sanayi ve Ticaret Anonim Sirketi (“IGYA”) in Manisa Province, Turkey.
- In February 2020, the company has announced the launch of its SNS-TN series of valve-regulated stationary lead-acid batteries.
- In July 2020, Blink Charging and Enersys collaborate To Develop High Power Inductive/Wireless and enhanced DC Fast Charging Systems with energy storage options for the automotive market.
- In January 2021, EnerSys is teaming up with TravelCenters of America (TA) to offer Odyssey Performance and NorthStar PRO Group 31 batteries for heavy-duty applications in all TA locations throughout the United States.
Request a Complete TOC of this Report with figures:
https://www.futuremarketinsights.com/toc/rep-gb-54
- Furukawa Electric Co., Ltd.
- Hitachi Chemical Company, Ltd.
- Narada Power Source Co. Ltd.
- SiteTel Sweden AB (NorthStar)
- Clarios
- Leoch International Technology Ltd.
- Yokohama Batteries Sdn. Bhd.
- Enersys
- Exide Industries Ltd.
- GS Yuasa Corporation
- Hoppecke Batterien GmbH & Co. KG.
- Crown Battery Corporation
- C&D Technologies, Inc.
- Coslight Technology International Group Co. Ltd.
- East Penn Manufacturing Co.
- Chaowei Power Holdings Limited.
- Zhangzhou Huawei Power Supply Technology Co., Ltd.
- B. B. Battery
- Camel Group Co., Ltd.
- Shandong Sacred Sun Power Sources Co. Ltd.