Persistence Market Research recently published the global lead acid battery market report that provides extensive market dynamics analysis over a five-year forecast period 2015-2020. The primary objective of this report is to offer a detailed analysis and valuable insights on various advancements in the global lead acid battery market.
The study demonstrates key market dynamics expected to influence the current environment and future status of the global market for lead acid battery over the aforementioned forecast period. The report offers updates on recent trends, key drivers, influential restraints, value forecasts, and upcoming opportunities that are likely to be profitable for manufacturers operating in the global lead acid battery market.
The report starts with an overview of the global lead acid battery market and discusses all the important factors expected to positively or negatively influence the growth and performance of the market over the forecast period. For better understanding of the market status and product consumption pattern, the report provides a segmentation based on the application sector. By application type, the report covers six key segments, including transportation, industrial motive, residential, stationary industrial, commercial, and grid storage.
The next section offers an extensive regional analysis, classifying the market in five key regions viz. North America (the U.S. and Canada), Latin America (Brazil, Mexico, and rest of Latin America), Western Europe (the U.K., Germany, France, Italy, Spain, and rest of Western Europe), Asia Pacific (India, China, ASEAN, Oceania, and rest of APAC), Middle East and Africa (GCC, South Africa, Turkey, and rest of MEA).
The final section of this report i.e. competitive landscape discusses various factors shaping internal and external competition in the market. The report analyzes all the factors offering growth opportunities to established players and barriers challenging new entrants, and rates them based on their impact on market competition. This part of the report offers a dashboard view of leading companies operating in the global lead acid battery market along with an analysis of their strengths, weaknesses, opportunities, and revenue shares. It also provides long-term and short-term business strategies of each of the players. Leading companies profiled in this report include Exide Technologies, Johnson Controls Inc., EnerSys, and GS Yuasa Corporation.
The forecast presented in this report assesses the total revenue generated across the global lead acid battery market. In order to offer an accurate forecast, the report begins by sizing up the current market, which forms the basis of how the global lead acid battery market is likely to perform in future. The report takes into account extensive secondary research to determine top industry players, products, applications, overall market size, industry connotations, distributors and manufacturers, etc.
Region-wise and segment-wise data has also been acquired through interviews with key stakeholders in the global lead acid battery market. Data gathered through primary and secondary research is validated by the triangulation method and further scrutinized using advanced tools to obtain useful qualitative and quantitative insights. Given the ever-fluctuating nature of the global economy, the report not only takes into account forecasts conducted in terms of CAGR but also analyzes the market on the basis of key parameters such as Y-o-Y growth to understand market predictability and to identify the right opportunities across the global lead acid battery market.
Another key feature of this report is the analysis of all market segments in terms of absolute dollar opportunity, usually overlooked while forecasting the market. Absolute dollar opportunity is critically considered while assessing the level of opportunity that a provider can look to achieve and also to identify potential resources from a sales and delivery perspective in the global lead acid battery market. Further, to understand key market segments in terms of growth, Persistence Market Research has developed the global lead acid battery market attractiveness index to help providers identify real market opportunities across the global lead acid battery market.
Lead acid battery is one of the first and most popularly used batteries in cars, golf carts, wheelchairs, forklifts, and so on. Moreover, it has been in use for solar energy storage since the past few decades. Cheaper and enduring, lead acid batteries continue to drive a multibillion dollar market, with a variety of types and applications. While automobiles will continue to be the most prominent end-use industry for lead acid battery, some other industries and newly emerged application sectors are likely to fuel the market growth over the next few years.
The global lead acid battery market is currently growing at a steady pace and PMR indicates promising growth prospects for this market, over a five-year forecast period 2015-2020. The global lead acid battery market is expected to surpass US$ 58 Bn in 2020, up from US$ 48.8 Bn observed in 2015. The market will see a moderate CAGR of 4.6% over the forecast period.
In addition to electric cars and battery banks for power grid, rising demand for battery-operated motorcycles will continue to sustain the market for lead acid battery. Burgeoning industrialization and urbanization will continue to raise a decent demand for uninterrupted power supply, eventually fueling the market for lead acid battery globally. With increasing awareness about environmentally-friendly, fuel-efficient vehicles, the adoption of battery-operated vehicles such as passenger cars and heavy transportation vehicles, is consistently on the rise since the past few years. This is a strong factor expected to foster the growth of lead acid battery market.
With increasing usage of electric and hybrid vehicles, there has been an improved deployment of vehicle battery charging infrastructure. Moreover, rising implementation of smart grid projects, increased installation rate of renewable energy systems, and enhanced telecom tower span are anticipated to remain the key factors accelerating the global lead acid battery market. A growing trend of using smart battery as a highly efficient power management system will further push the market growth. In addition, burgeoning consumption by consumer electronics manufacturers will drastically contribute to the growth of lead acid battery market.
Lower energy density and a few other technical limitations may however hamper the adoption of lead acid battery. Weight of the battery is another factor identified to be a barrier to widespread adoption. Volatile lead prices are foreseen to be another challenge to battery manufacturers. Environmental impact regulations regarding lead emission levels are also anticipated to hold a negatively influence on the market over the next few years.
Based on application, transportation and stationary industrial segments are identified to be prominent in terms of consumption of lead acid battery. In 2014, these two segments collectively accounted for nearly 78% market share. While transportation segment is likely to maintain dominance despite a slight decline over 2015-2020, stationary industrial segment is projected for the fastest CAGR of 8.6%. Grid storage segment is also estimated to see impressive growth during 2015-2020.
Geographically, the global lead acid battery market is segmented into five key regions viz. North America, Latin America, Western Europe, Asia Pacific, and Middle East and Africa. Asia Pacific, registered a major revenue share of over US$ 19.0 Bn in 2015 with almost 34% market share. APAC is expected to surpass a value of US$ 24 Bn by 2020 end. Europe and North America will continue to be major markets; Europe is predicted to register the highest CAGR of 5.5% during the forecast period.
Key Players Analysis
The global lead acid battery market is operated by a number of key players, including Exide Technologies, Enersys, GS Yuasa Corporation, Johnson Controls Inc., and East Penn Manufacturing. Johnson Controls Inc. operates in tandem with regional governments in order to evaluate the energy-efficient strategy.