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A recent report published by Infinium Global Research on lead acid battery market provides an in-depth analysis of segments and sub-segments in global as well as regional lead acid battery market. The study also highlights the impact of drivers, restraints and macro indicators on the global and regional lead acid battery market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global lead acid battery market. According to the report, the global lead-acid battery market is projected to grow at a CAGR of 5% over the forecast period of 2018-2024.
The lead acid battery is a rechargeable energy storage battery that stores chemical energy and converts that chemical energy into the electric energy when required. The battery uses to lead and lead peroxide for the conversion of the chemical energy into electrical power. The lead acid battery has large power to eight rations, so they are mostly used in the power station and the automotive industry applications.
The rapidly growing energy storage applications are driving the growth of the lead acid battery market. The energy storage application is an integral part of the portable devices, consumer electronics, and the automotive sectors. The UPS is vastly used in the various industries such as manufacturing, healthcare, oil & gas and Chemicals, which in turn, to boost the growth of the lead acid battery market. The lead acid batteries offer reliable performance at less-cost that contributes to the growth of the lead acid battery market. However, increasing demand for alternate energy storage batteries such as a lithium-ion battery is hampering the growth of the lead acid battery market. Moreover, the rapidly developing automobile industry in the countries such as India, Vietnam, Mexico and in several other countries are leading towards the vast demand for lead-acid batteries in these regions. The adoption of pollution-free electric vehicles across the globe are projected to create several opportunities for the companies working in the lead-acid battery market in upcoming years.
Geographically, the Asia Pacific region holds the maximum market share in the lead-acid battery market owing to the growing applications of lead-acid batteries in construction, automotive and the various manufacturing industries. In addition, favorable government regulation and rapidly growing demand for industrialization are also contributing to the growth of the lead acid battery market in this region.
The report on global lead acid battery market covers segments such as type and application. On the basis of type, the global lead-acid battery market is categorized into sealed and flooded. On the basis of application, the global lead acid battery market is categorized into uninterruptible power supplies (UPS), automobile, hybrid vehicles, telecommunication, and others.
The countries covered in the North America region include the U.S., Canada, and Mexico; while Asia-Pacific includes China, Japan, India, South Korea, Malaysia, and among others. Moreover, Germany, U.K., France, Spain, and Rest of Europe are included in the European region.
The U.S. drives the growth in the North America region as it is the largest market in the region. The Asia-pacific region offers substantial potential for the market growth owing to rapid growth in markets such as India and China. The APAC region is projected to experience growth at a CAGR of x.x% over the period of 2018-2024.
The report provides profiles of the companies in the global lead acid battery market such as EXIDE INDUSTRIES LTD., JOHNSON CONTROLS INTERNATIONAL PLC, EnerSys, GS Yuasa Corporation., First National Battery, NorthStar, HBL Power Systems Limited, FIAMM Energy Technology S.p.A., C&D Technologies, and Trojan Battery Company.
The report provides deep insights on demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the global lead acid battery market. Moreover, IGR-Growth Matrix analysis given in the report brings insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of lead acid battery market. Moreover, the study highlights current market trends and provides forecast from 2018-2024. We also have highlighted future trends in the lead acid battery market that will impact the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings insight into the market share of the leading players. This report will help manufacturers, suppliers, and distributors of the lead acid battery market to understand the present and future trends in this market and formulate their strategies accordingly.
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