DUBLIN--(BUSINESS WIRE)--The "Global Lead-Acid Battery Market, By Type; By Application; By Region - Market Size, Industry Dynamics, Opportunity Analysis and Forecast for 2024-2030" report has been added to ResearchAndMarkets.com's offering.
The global market for Lead-Acid Batteries continues to prosper, with expectations to surge from the 2023 valuation of US$49.3 billion to an estimated US$77.88 billion by 2030
This trajectory reflects a robust compound annual growth rate (CAGR) of 6.99%. A combination of factors, including the cost-effective nature of these batteries and their widespread application across multiple industries, from off-grid solar systems to automotive and telecom sectors, propels this growth. Lead-Acid Batteries remain an advantageous choice, particularly in specialty markets where long-standing reliability blends with cost-effective energy solutions.
Segmental Insights and Regional Prominence
The Flooded Battery segment, known for its reliability, leads in type categorization while VRLA batteries are anticipated to exhibit notable growth. Automotive starters dominate the application segment, highlighting the indispensability of lead-acid batteries in vehicle operation. Furthermore, the lead-acid battery market showcases regional variances. The Asia Pacific region, with its rapid industrial development and expanding automotive production, is leading the market share and is predicted to maintain the highest growth rate. Market competitiveness is driven by key players, who focus on innovation and strategic expansions to secure their market positions.
Market Outlook and Challenges
The Lead-Acid Battery market is on the brink of significant advancement, with towering demand across numerous applications underscoring the practicality and versatility of these batteries. Nonetheless, the emergence of cost-effective alternatives in the energy storage market introduces potential challenges to the growth streak. The market's resilience will be tested through adaptability and strategic shifts by leading companies within this space.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 214 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $49.3 Billion |
| Forecasted Market Value (USD) by 2030 | $77.88 Billion |
| Compound Annual Growth Rate | 6.9% |
| Regions Covered | Global |
A selection of companies mentioned in this report includes, but is not limited to:
- Clarios
- Exide Technologies
- CSB Energy Technology
- Yuasa
- EnerSys
- East Penn Manufacturing
- Fiamm
- Sebang
- Hankook AtlasBX
- Amara Raja
- C&D Technologies
- Midac Batteries
- ACDelco
- Banner batteries
- First National Battery
- Chilwee
- Tianneng Holding Group
- Shuangdeng Group (Shoto)
- Camel Group
- Fengfan
- Leoch
- Narada Power
- Sacred Sun Power Sources
- Coslight Technology
For more information about this report visit https://www.researchandmarkets.com/r/8o1van
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