Lead Acid Battery Market
Research Insights:
A lead acid battery unit is an energy storage system, comprising lead-dioxide cathode, sponge metallic lead anode, and sulfuric acid solution electrolyte. Some primary characteristics of these batteries include low discharge rate, strong resistance to corrosion, and large electrolyte reserves. As compared to the latest battery technologies, the lead acid batteries are less expensive, help enhance storage times, and have lesser maintenance requirements. The two most commonly known lead acid batteries are AGM (absorbed glass mat) lead acid batteries and Gel-cells, collectively known as valve-regulated lead acid (VRLA) batteries. The VRLA batteries have a high-power density and are more convenient to install. Moreover, these batteries have a relatively higher discharge rate and power delivery and find widespread application in large portable electrical devices and off-grid power systems. Lead acid batteries are in huge demand across commercial & residential sectors, energy storage, automotive, telecommunication, manufacturing, marine, utilities, construction, oil & gas, and chemical & pharmaceutical industrial sectors.
The global lead acid battery market is poised to gain significant traction worldwide in the forthcoming years, as lead acid batteries witness extensive demand across industries to meet the surging need for renewable energy sources. The global market expansion can be attributed to a slew of factors, such as the rapidly growing number of data centers, the resurgence of the telecom sector that extensively requires cost-effective battery storage solutions, the increasing number of telecommunication operators in developed and developing economies, expanding data center infrastructure, and the rising expenditure on energy storage systems. The surging adoption of UPS (uninterrupted power source) systems that require lead acid batteries, soaring demand for off-grid power generation, rapid urbanization and industrialization, the developing transportation & automobile sector, escalating number of commercial vehicles and personal and passenger cars, and the surging adoption of pollution-free electric vehicles are some of the indispensable factors further bolstering the development of this industry.
The Asia Pacific lead acid battery market is anticipated to witness speedy growth in the upcoming years, owing to the ongoing industrialization, the significant presence of an established service sector and some key market players, growing replacement of traditional battery systems, and the increasing investments in automotive manufacturing facilities in the region. India, Japan, and China are the major growth engines for this highly promising regional market. Clarios, HOPPECKE, Koyo Battery, GS Yuasa, Leoch, C&D Technologies, B.B. Battery, Exide Industries Limited, Middle East Battery, Zibo, East Penn, Furukawa, Crown Battery Shangdong, First National Battery, and Enersys are the leading competitors in this market.
In March 2019, GS Yuasa, a leading Japanese lead acid battery manufacturer, had commissioned a new automotive lead acid battery manufacturing plant in Turkey, which was reportedly set to be operated by IGYA, a GS Yuasa equity affiliate. In December 2019, Sri Lanka-based Ceylon Graphene Technologies developed its first-ever Graphene-applied lead acid battery technology in collaboration with Associated Battery Manufacturers Ltd. The technology incorporates expanded graphite and reduced graphene oxide in an optimized ratio that enhances the charge acceptance of lead acid batteries and reduces sulfation in negative plates. The product was made available in the market under Exide Technologies’ Lead Acid Battery range earlier this year.
To read more about the Press Release, visit: @ https://www.reportsanddata.com/press-release/global-lead-acid-battery-market
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