According to a new report published by K D Market Insights, “Lead Acid Battery Market Insights, Trends, Opportunity & Forecast, 2020–2025,” the global lead acid battery market size is anticipated to witness moderate growth during the forecast period i.e. 2020-2025. The increasing adoption of lead acid batteries in Uninterruptible Power Source (UPS) & automobile and flourishing telecommunication sectors and the upsurge in renewable energy production around the globe are the primary factors driving the growth of the global lead acid battery market.

Additionally, factors such as the extensive use of lead acid batteries in energy storage, automotive, and telecommunication industries as well as for several purposes in different sectors, such as manufacturing, utilities, marine and pharmaceutical & chemical industries, the mounting demand for power solutions with high efficiency and reliability, the rising data center infrastructure and the increasing product launches by key market players are further  expected to create ample growth opportunities for the global lead acid battery market during the forecast period.

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The Asia-Pacific region is estimated to possess the largest share of the global lead acid battery market during the forecast period. This is attributed to the fact that the region encompasses more number of developing countries with demand for cost-effective energy storage solutions. Moreover, the Asia-Pacific region is expected to be the most lucrative market in terms of CAGR during the forecast period. On the other hand, the North American region is expected to observe significant growth rate during the forecast period due to the surge in demand for the uninterrupted power supply (UPS) along with the rising automotive sales.

According to product type, the SLI segment accounted for the largest share in the market in 2020. It is projected to further retain its dominance in the market during the forecast period. This can be attributed to the features of SLI batteries such as long cycle-life and weight reduction in vehicles. Hence, growth in vehicle sales boosts adoption of SLI batteries as a cost-effective energy source. The stationary segment on the other hand is projected to attain the highest CAGR in the market over the forecast period. According to application, the automotive segment held the largest share in the global lead acid battery market in 2020 and is expected to continue with the trend throughout the forecast period. This is attributed to the widespread adoption of lead-acid batteries in the automotive sector. The UPS segment is anticipated to witness the highest growth during the forecast period owing to the increasing demand in several industries such as hospitals, educational institutes, research institutions, corporate offices, and houses.

The global lead acid battery market is segmented into product type, application and region. Based on product type, the market is bifurcated into SLI, stationary and motive. Based on application, it is classified into automotive, UPS, telecom, electric bikes, transport vehicles and others.

The global lead acid battery market is analyzed across North America (U.S. & Canada), Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Rest of Europe), Asia Pacific (China, India, Japan, South Korea, Indonesia, Thailand, Australia, New Zealand, and Rest of Asia Pacific), Latin America (Brazil, Mexico, and the Rest of Latin America) and Middle East & Africa (GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, and Rest of Middle East & Africa).

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Key Insights of Lead Acid Battery Market

  • On the basis of product type, the SLI segment accounted for the largest share in the market in 2020 and is projected to further retain its dominance in the market during the forecast period.
  • On the basis of product type, the stationary segment is projected to attain the highest CAGR in the market over the forecast period.
  • On the basis of application, the automotive segment held the largest share in the global lead acid battery market in 2020 and is expected to continue with the trend throughout the forecast period.
  • On the basis of application, the UPS segment is anticipated to witness the highest growth during the forecast period.
  • On the basis of region, Asia-Pacific is estimated to possess the largest share of the global lead acid battery market during the forecast period and is also expected to be the most lucrative market in terms of CAGR during the forecast period.

Some of the major lead acid battery companies profiled in the report include EnerSys, Exide Industries, HOPPECKE, NorthStar, Crown Battery, East Penn, Teledyne Technologies, Hankook AltasBX, Hitachi Chemical, and C&D Technologies.

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