The recent research, Lead Acid Battery market enables stakeholders, field marketing executives and business owners get one step ahead by giving them a better understanding of their immediate competitors for the forecast period, 2019 to 2026. Most importantly, the study empowers product owners to recognize the primary market they are expected to serve. To help companies and individuals operating in the Lead Acid Battery market ensure they have access to commensurate resources in a particular location the research, assess the size that they can realistically target and tap.
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The Global Lead Acid Battery Market is expected to reach USD 95.32 Billion by 2026, according to a new report by Reports and Data. It is a rechargeable battery which can convert chemical energy into electrical energy. Rising demand for UPS systems and electric vehicles is fueling the market. Moreover, significant rise in demand from sectors such as automotive, healthcare, power, and telecom industries in developing nations is encouraging the growth of the market. Lead batteries have lower prices as compared to its competitors. Hence they are more commonly used and preferred.
Key participants include
Johnson Controls, Exide Technologies, GS Yuasa Corp, ATLASBX Co. Ltd., East Penn Manufacturing Co., Crown Battery Manufacturing, C&D Technologies, Inc., Narada Power Source Co. Ltd., Amara Raja Batteries Ltd., Leoch International Technology Ltd.
Product Type Outlook (Revenue, USD Million; 2018-2026)
· Stationary
· Motive/Traction
· SLI
· Construction Method Outlook (Revenue, USD Million; 2018-2026)
· VRLA
· Flooded
Application Outlook (Revenue, USD Million; 2018-2026)
· Telecommunication
· UPS
· Control & Switchgear
· Motive
· Automobiles
· Motorcycles
· Grid Storage
· Fork Lifts
End-Users Outlook (Revenue, USD Million; 2018-2026)
· Industrial
· Commercial
· Residential
· Marine
· Oil & Gas
Sales Channel Outlook (Revenue, USD Million; 2018-2026)
· Original Equipment Manufacturer
· Aftermarket Sales
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Further key findings from the report suggest
- Rising concerns for the environment has led to an increase in demand for e-bikes and electric vehicles, lower dependence on fuel technologies which in turn increase lead acid battery.
- In the product type segment, Motive/Traction lead-acid batteries have the largest market share of 35% in the year 2018 and are forecasted to grow till 36% in 2026.
- These motive or traction batteries are deployed in diverse vehicles like forklifts, minivans, tourists coaches, industrial trucks, golf carts, and e-bikes.
- SLI batteries offer low compatibility with smart vehicles, are low in cost and provide reliability. They are projected to hold a market share of 33% in the forecasted period of 2026.
- Stationary lead-acid batteries provide backup power, security system, emergency lighting, railway backup concerns, renewable energy concerns, etc. They have a market share of 31% in the year 2018 and has an annual growth rate of 5.4%.
- VRLA has a market share of 51% in the year 2018 and is forecasted to hold a market share of 53% in the year 2026 with an annual growth rate of 5.9%.
- Flooded lead occupy a market of 49% in the year 2018 and is forecasted to loose market due to its high maintenance. It is mainly used in industrial applications.
To identify the key trends in the industry, click on the link below:
https://www.reportsanddata.com/report-detail/lead-acid-battery-market
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