Market Research Report
Lead Acid Battery Market Size, Share & Trends Analysis Report Product (SLI, Stationary, Motive), By Construction Method (Flooded, VRLA), By Application, By Region, And Segment Forecasts, 2020 - 2027
|Published by||Grand View Research, Inc.||Product code||447180|
|Published||Content info||95 Pages
Delivery time: 2-10 business days
|Lead Acid Battery Market Size, Share & Trends Analysis Report Product (SLI, Stationary, Motive), By Construction Method (Flooded, VRLA), By Application, By Region, And Segment Forecasts, 2020 - 2027|
|Published: February 10, 2020||Content info: 95 Pages||
The global lead acid battery market size is expected to reach USD 93.04 billion by 2027, registering a CAGR of 5.9% over the forecast period, according to a new report published by Grand View Research, Inc. Lead acid batteries are expected to witness significant rise in demand owing to their increasing usage in various industries including oil and gas, nuclear power, electricity generation, gas turbine, hospitality, transport infrastructure, manufacturing, construction, mining, and off-grid renewable. Moreover, advantages associated with these batteries, such as durability, high voltage capability, low-cost, and simple manufacturing process are expected to increase the demand.
Lead acid batteries finds wide usage in automotive applications including forklifts, golf carts, and industrial cleaners. High usage of lead acid battery in forklifts on account of low cost, reliability, and well-established supply chain of the product, is likely to positively influence the market. Lead acid battery is widely used in automobile as it delivers high power to start the engine. The superior safety, quality, and recycling process of these batteries is anticipated to augment the market growth over the forecast period.
Starting, Lighting, and Ignition (SLI) was the largest product segment and accounted for more than half of global lead acid battery market revenue in 2019. Growing demand for SLI batteries in commercial vehicles and passenger cars is expected to strengthen the segment growth over the forecast period.