According to Fortune Business Insights, the global lead-acid battery market size is expected to grow from US$43.43 billion in 2022 to US$65.18 billion in 2030, with a compound annual growth rate of 5.2% in during the forecast period.
Pune, India, Sept. 18, 2023 (GLOBE NEWSWIRE) — The global lead-acid battery market will be worth US$ 43.43 billion in 2022. The market is expected to grow from US$45.84 billion in 2023 to US$65.18 billion in 2030. The compound annual growth rate for the period is expected to be 5.2%. The expansion comes as a result of growing product demand driven by rising demand for energy storage equipment. Fortune Business Insights™ provides this information in its research report titled “Lead-Acid Battery Market 2023-2030.”
December 2021 – Tata AutoComp GY Batteries Limited, a subsidiary of GS Yuasa Corporation, plans to increase its production capacity of lead-acid motorcycle batteries to 8.4 million units per annum to increase its market share in India.
Request a sample research report: https://www.fortunebusinessinsights.com/enquiry/sample/lead-acid-battery-market-100237.
Size, Lead Acid Battery Market Share and COVID-19 Impact Analysis by Type (Flooded and VRLA {AGM, GEL}), by Application (SLI, Stationary, E-Bikes, Low Speed ​​EVs, etc.) and Area
The growth of the lead-acid battery market is driven by the development of telecommunications and data center industries. Other factors driving the industry’s expansion include the rollout of 5G services, the digital age and population growth.
However, the industry’s expansion may be impacted by shorter battery life. This is because lead-acid batteries discharge more frequently than other batteries.
Given the shortage of automotive equipment supply chain solutions, the coronavirus pandemic has brought production processes to a standstill. However, after 2022, electronics and automotive equipment manufacturing is expected to see significant demand. This will support the growth of the automotive and electronic equipment market over the expected period.
To know more about the short and long term impact of COVID-19 on the market, visit: https://www.fortunebusinessinsights.com/industry-reports/lead-acid-battery-market-100237
The report provides an analysis of the key trends driving industry expansion over the forecast period. It also sheds light on the important factors driving business expansion during the forecast period. Other aspects include a description of key initiatives taken by key industry players to strengthen their business positions.
Based on type, the market is segmented into VRLA and subsea markets. Among them, the flooded part will expand significantly in the expected period. This growth is driven by growing demand for stationary products.
By application, the market is segmented into SLI, e-bikes, low-speed electric vehicles, stationary vehicles and others. Of these, the SLI segment is expected to witness profitable expansion during the forecast period. This surge is driven by growing demand for products for vehicle internal combustion engines or starters, lighting and ignition systems.
By region, the lead-acid battery market is segmented into Europe, Asia Pacific, Latin America, North America, and the Middle East and Africa.
The lead-acid battery market share in Asia Pacific is expected to witness significant growth during the forecast period. This expansion is driven by many factors, including rapid industrialization, population growth, and high levels of automobile production and sales.
The North American market is expected to witness significant growth over the forecast period. This surge is due to favorable government regulations on battery recycling.
Quick Buy – Lead Acid Battery Market Research Report: https://www.fortunebusinessinsights.com/checkout-page/100237
Major lead-acid battery manufacturers are mainly taking a number of actions such as acquisitions, merger agreements and launching new solutions to consolidate their business positions. Other steps include a surge in research activity to develop and launch new solutions. Other initiatives include increasing participation in trade conferences.
Have questions? Ask our experts: https://www.fortunebusinessinsights.com/enquiry/speak-to-analyst/lead-acid-battery-market-100237.
5. Analysis, analytics and forecast of the global lead-acid battery market (billion US dollars) for 2019-2030.
Get a custom research report: https://www.fortunebusinessinsights.com/enquiry/ask-for-customization/lead-acid-battery-market-100237
About Us: Fortune Business Insights™ provides professional enterprise intelligence and accurate data to help organizations of all sizes make timely decisions. We develop innovative solutions for our clients to help them solve the unique challenges their businesses face. Our goal is to provide our clients with comprehensive market information and detailed understanding of their markets.