The global Lead-acid battery market is anticipated to grow at a CAGR of around 5.1% during the forecast period (2021-2027). The key factors to drive the market growth include increasing market demand in the transportation industry and a rise in stationery and transportation energy storage applications. For instance, according to the American Road & Transportation Builders Association’s annual economic forecast published December 2019 the transportation infrastructure demand in the US is projected to rise at least 5% in 2020. After adjusting for project costs and inflation, total domestic transportation construction and related-market operation in 2020 is expected to hit $300.4 billion, up from $286.5 billion in 2019. Further, according to Energy Storage Grand Challenge Market Report 2020, The combined markets for stationary and transportation energy storage are expected to grow 2.5–4 terawatt-hours (TWh) per year in 2030, approximately three to five times the current 800-gigawatt-hour (GWh) sector.
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Rising acquisitions, product development, collaborations among the major players in the market also propel the growth of the market. For instance, in January 2021, GS Yuasa, a Japanese battery manufacturer developed fuel cells that can withstand harsh conditions, from the depths of the ocean to the depths of space. This expansion in its product line will be enabling space travellers to travel comfortably in space. The company batteries will be serving as the main power source for the International Space Station and will be one of the first batteries used by NASA that are manufactured by a non-US company.
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Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Lead-acid Battery Market Report Segment
By Type
- Flooded Lead Acid Batteries
- Sealed Lead Acid Batteries
- AGM Lead Acid Batteries
- Gel Sealed Lead Acid Batteries
- Others
By Components
- Plates
- Separators
- Electrolyte
- Others
By End-User
- Automotive
- Industrial
- Others
(This release has been published on Global Market Post. Global Market Post is not responsible for any content included in this release.)
