Lead acid batteries are important for the following reasons. They are the most common battery used in cars. They also provide backup power to many buildings in case of an emergency. They are used to store energy that is produced by solar panels or wind turbines when there is no demand for it. Lead acid batteries can be charged easily with a power inverter, which makes them good for back-up power.
The Lead Acid Battery market accounted for USD 43.4 Billion in 2020 and is expected to reach USD 61.9 Billion by 2028, growing at a CAGR of 4.5% from 2021 to 2028.
Lead acid batteries are used in industries such as construction, vending machines, military vehicles, and telecommunications and almost all major industries where there is a need for energy storage and the requirement of cheap power backup.
Lead Acid Market Report features
In the Lead Acid Market report provided by Zion Market Research you will received Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.
Some of key players in Lead Acid Battery market are Clarios, Exide Industries Limited, Leoch, Shangdong, C&D Technologies, GS Yuasa East, Penn Zibo, Furukawa Crown Battery, B.B. Battery, HOPPECKE, First National Battery, Koyo Battery, Middle East Battery and Enersys among others.
Lead-acid batteries have been the most cost-effective technology. However, with the rise of alternative battery storage technologies, especially the lithium-ion technology, lead-acid batteries are losing out on the cost-effectiveness quotient. Lead-acid batteries are witnessing a price drop nearly across all industries..
The Asia Pacific region is expected to lead the market during the forecast period. China, Singapore, South Korea, Japan, and India are considered the main industrial hubs and offer tremendous growth opportunities for the lead-acid battery market in this region.
Some of the major companies operating in the Lead Acid Battery market are Clarios, Exide Industries Limited, Leoch, Shangdong, C&D Technologies, GS Yuasa East, Penn Zibo, Furukawa Crown Battery, B.B. Battery ,HOPPECKE, First National Battery ,Koyo Battery, Middle East Battery and Enersys among others.