SELBYVILLE, Del. - June 11, 2020 - (Newswire.com)
The global lead-acid battery market value is set to cross USD 61 billion by 2026, as reported in the latest study by Global Market Insights, Inc. Strong inclination toward personal mobility, coupled with rising demand for high energy density batteries, is positively influencing the deployment for these units.
High power delivery and superior cranking performance are some of the paramount features driving the demand for lead-acid batteries across stationary applications. The battery is rechargeable and is composed of lead-oxide cathode, sponge metallic lead anode and sulfuric acid solution electrolyte, utilized as a cost-effective power storage solution. In addition, the rapidly expanding telecommunications sector, owing to the surge in the utilization of smartphones, have increased product deployment across mobile towers to deliver a reliable supply of power. Minimal maintenance and safe operation are some of the factors favoring the product deployment.
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Growing demand for cost-effective and reliable energy supply across critical power applications has fueled the installation of valve-regulated lead-acid batteries. Minimal maintenance and low discharge rates are a few eminent features favoring the installation of these batteries over other alternatives. In comparison, flooded lead-acid batteries have low costs and are predominantly installed across industrial trucks. However, high maintenance costs associated with these units have resulted in declining adoption rates, thereby creating lucrative business opportunities for VRLA battery manufacturers.
Some major findings of the lead-acid battery market report include:
- The market demand for lead-acid batteries is increasing across the automobile sector due to their benefits, such as minimal maintenance cost and superior cranking performance.
- Increasing investments across telecommunications and industrial sectors are anticipated to drive the business growth.
- Major players operating across the lead-acid battery market are Clarios, Enersys, and East Penn Manufacturing, etc.
- Flooded lead-acid battery systems are increasingly being replaced with valve-regulated lead-acid batteries, owing to their ability to offer reliable & efficient performance.
Browse key industry insights spread across 500 pages with 1001 market data tables and 39 figures and charts from the report, “Lead Acid Battery Market Report By Construction (Flooded, VRLA), By Sales Channel (OEM, Aftermarket), Application (Stationary {Telecommunications, UPS, Control & Switchgear}, Motive, SLI {Automobiles, Motorcycles}), Industry Analysis Report, Regional Outlook, Application Potential, Price Trend, Competitive Market Share & Forecast, 2020 – 2026,” in detail, along with the table of contents:
https://www.gminsights.com/industry-analysis/lead-acid-battery-market
The aftermarket segment will grow, owing to the growing demand for the replacement of battery units that have reached their end life cycle. Low costs and the presence of established distribution channels are the key underlying factors complementing the industry statistics. In addition, aggressive expansion of OEMs into the aftermarket business, along with rising investments toward optimization of customer experience, will further proliferate the business landscape.
The North American lead-acid battery market is anticipated to witness over a 3% CAGR through 2026. Increasing investments toward the development & expansion of data centers has positively influenced the product demand. The ever-expanding mainstream IT infrastructure is dominantly equipped with LABs, despite the gradual penetration of alternative energy storage chemistries across the industry. Aging grid infrastructure coupled with increasing demand for reliable power supply will further enhance the product deployment over the forecast timeline.
Access the TOC of this report at https://www.gminsights.com/toc/detail/lead-acid-battery-market
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https://www.gminsights.com/industry-analysis/energy-storage-systems-market
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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Original Source: Lead-Acid Battery Market to Cross $61 Billion by 2026, Says Global Market Insights, Inc.
