Lead Acid Battery Market Analysis By Product Type (Flooded, Gel, AGM (Absorbent Glass Mat)), By Application (Transportation, Motive Industrial, Stationary Industrial, Commercial, Residential, Grid Storage), and Region
Lead acid battery exports worldwide are expected to reach US$ 96.5 billion by the end of 2033, representing a market value of US$ 57.1 billion as of 2023. According to the most recent Fact.MR research report, the worldwide lead acid battery market will grow at a 5.3% CAGR during the following ten years.
As per Fact.MR's analysis, the transportation segment is likely to account for nearly two out of five lead acid battery sales, rendering it a promising application area. The trucking industry is especially poised to benefit in the post-pandemic era, with majority of manufacturers relying on road transport to deliver their goods, stimulating an increase in the global truck fleet and subsequent uptake of lead acid batteries.
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"As manufacturers seek out greener and cleaner energy alternatives, demand for lead acid batteries is anticipated to surge across prominent geographies, prompting players to invest in extensive research & development projects," says the Fact.MR analyst.
Key Takeaways
Key Driving Factors
Competition Dashboard
Leading lead acid battery companies are investing heavily in the research and development of novel battery technologies and acquiring new patents to gain a competitive edge over other market players.
Market Participants
Industry Research
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More Valuable Insights on Lead Acid Battery Market
Fact.MR, in its new offering, brings to fore an unbiased analysis of the global lead acid battery market, presenting historical demand data (2014-2018) and forecast statistics for the period, 2019-2029. The study divulges compelling insights on the lead acid battery market based on application (transportation (OEM transportation, aftermarket), motive industrial (OEM motive industrial, aftermarket motive industrial), stationary industrial (OEM stationary industrial, aftermarket stationary industrial), commercial (OEM commercial, aftermarket commercial), residential (OEM residential, aftermarket residential), grid storage (OEM grid storage, aftermarket grid storage), and others (OEM others, aftermarket others), product type (flooded, AGM, gel) across seven major regions.
Key Questions Covered in the Report
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Jun 22, 2023