In 2022, the value of the lead acid battery market is anticipated to be $54.3 billion. According to Future Market Insights' (FMI) analysis, lead acid battery sales will grow at a 5.2% CAGR from 2022 to 2032
In 2022, the value of the lead acid battery market is anticipated to be US$ 54.3 billion. According to Future Market Insights' (FMI) analysis, lead acid battery sales will grow at a 5.2% CAGR between 2022 and 2032. The study estimates that by 2032, the global lead acid battery market will be worth more than US$ 90.5 billion. According to FMI, the market for AGM batteries is anticipated to grow rapidly, with a 6.2% CAGR in 2022.
The use of lead-acid batteries is also becoming more and more in demand from other industries. In the years to come, it is anticipated that a growing number of players concentrating on lead-acid battery-related research and development will significantly contribute to market growth.
The call for lead-acid batteries is increasing with the rise in the volume of the car fleet in the latest years. This may be attributed to an increase in aftermarket income in normal interims for battery replacement.
The growing requirement has led to mass production and has increased the importance of process automation in the lead-acid battery market. The market is shifting towards industry 4.0 s, leading to the universal adoption of new production technologies.
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Key Takeaways from Lead Acid Battery Market Study
“The lead-acid battery market is growing at a strong pace, driven largely by increasing demand for energy-efficient solutions across the automotive sector. The increasing demand for electric vehicles will create extensive opportunities for manufacturers. Key industry participants have been focusing on product diversification to offer energy-efficient solutions and gain a competitive advantage,” says a Future Market Insights analyst
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Competitive Landscape
The lead-acid battery market is highly competitive at regional as well as global levels and highly consolidated in nature. These players are likely to invest in new technology developments and the expansion of their networks to maintain their market shares.
Some of the key players in this industry include but are not limited to Furukawa Electric Co., Ltd., Narada Power Source Co. Ltd., Clarion, Leoch International Technology Ltd., Enersys, Exide Industries Ltd., GS Yuasa Corporation, East Penn Manufacturing Co., Chaowei Power Holdings Limited., and others.
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The research report analyzes the demand for Lead Acid Batteries. The global Lead Acid Battery market has been analyzed with the COVID-19 impact, various macroeconomic factors, market trends, and market background. As per Future Market Insights, the market has been analyzed based on product type, power source, and region. The report provides qualitative and quantitative information on various players in this market. This report also tracks the market by both, supply-side and demand factors.
Key Segments Profiled in the Lead Acid Battery Industry Survey
Lead Acid Battery Market by Product Type:
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Lead Acid Battery Market by Sales Channel:
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market.
May 15, 2023