Market outlook of the global lead-acid battery market
Lead-acid batteries are rechargeable devices that are comprised of lead electrodes submerged in diluted sulfuric acid. The global market for lead-acid batteries is estimated to show steady growth during the forecast period and factors like the rising use of lead-acid batteries by various end-user segments and other motive applications such as forklifts, railroad, and mining vehicles are expected to foster market growth during the forecast period. These factors promote the prospects for growth in this market and results in its steady CAGR of almost 7.5% by 2019.
This market research report, market research analysts estimate the APAC region to dominate the global market for lead-acid batteries during the forecast period. The augmented demand for stationary lead-acid (SLA) batteries from the power utilities sector is expected to result in this region’s high market share during the period of 2014 and 2019.
Segmentation by end-user application and analysis of the lead-acid battery market
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The market research analyst has estimated the automotive segment to account for more than 75% of the total market during the forecast period. Growth in this segment is heavily dependent on the performance of the global automotive market and, therefore, any increase in the sale of automobiles across the globe is expected to result in this segment’s growth.
Competitive landscape and key vendors
This market is highly competitive and is characterized by the presence of numerous global, regional, and local vendors. These vendors continually compete with each other to gain maximum traction in the market and their growth during the forecast period is dependent on factors like intense competition, rapid advances in technology, frequent changes in government policies, and stringent environmental regulations.
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Growth drivers, challenges, and upcoming trends: Lead-acid batteries
The market research analyst has estimated upcoming trends, such as the growing focus on absorbent glass mat (AGM) batteries, to boost market growth during the forecast period. A typical AGM battery is generally maintenance-free, more resistant to vibrations, and has zero fume emissions. Since these batteries have low internal resistance and longer service life, their augmented application in consumer electronic devices and automobiles is expected to result in market growth during the forecast period.
This report provides a number of factors contributing to the adoption, limitations, and opportunities of the lead-acid battery market. It also offers an analysis of each factor and an estimation of the extent to which the factors are likely to impact the overall market growth.
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