Rise of Lead acid battery usage in automotive industry, for overcoming the cost issues, due to the diesel generator sets, is boosting the growth of lead acid battery market. Apart from that the trend of urbanization and industrialization in emerging countries like India, Japan, Malaysia, China are major contributing factor in growth of lead acid battery market.
Global Lead acid battery market is divided into leading geographical zones, dominant market players, applications, product types, product specification, price and sell of a product. Lead acid batteries can store excess power that can be used in penurious time. The advances in technology and demand of use of portable devices will also contribute to growth of market.
The global lead acid battery market is expected to grow from US$ 34.5 billion to US$ 45.70 billion by 2021. The stationary lead acid battery market has shown secure growth, two factors (ups/data and telecom communication) that contribute to market growth shows stable performance. With this, there has also been a rise in price due to lead cost volatility, leads to revenue growth.
Factors that power growth of market
The low cost and long life cycle of lead acid battery
Next generation wireless technology
Facility protection has driven the increased demand for lead batteries
Proven technology earns user’s satisfaction/loyalty hence increased demand
More resistivity to corrosion, overcharging, water usage and self-discharge
Factors that reverse growth of market
Limited product differentiation
Decrease in capital spending
Alternative energy sources shows growth, challenge in long term
More strict rules and regulations shrink profit
High lead content in product and low energy density restrict growth