This information was published by Future Market Insights in its’ latest report “Lead Acid Battery Market: Pacific Rim, Latin America, Japan, Middle East & Africa Industry Analysis and Opportunity Assessment 2014 – 2020”.
According to the materials BEFORE IT'S NEWS
The research shows, that the lead acid battery market in analyzed countries in 2014 was worth US$ 24,210.5 million. It is projected, that the market will reach the worth of US$ 31,708.4 million by 2020 with an annual growth rate of 4.6%. It is expected that the Pacific Rim, which has the major share of the lead acid battery market of the researched regions, will increase by 4.5% during the projected period. In the report the lead acid battery market is segregated according to the usage type: drive batteries, industrial fixed accumulators, commercial batteries, common batteries and energy storage units’ batteries. The drive batteries and industrial fixed accumulators were accounted for 82,4% of the market income in 2014. The transport was the main purpose of the lead acid battery market in 2014. It is anticipated, that by 2020 it will remain so. The industrial fixed accumulator sector is the second largest lead acid battery market maker. It is awaited, that during the projection period the highest average annual growth rate of 8,5% will be recorded.
According to the report, the energy storage systems segment is one of the smallest ones on the lead acid battery market. However, the researchers foresee, that during the projection period the highest average annual growth rate of 7,2% will be registered.
Lead acid batteries are mostly used in motor-cars and commercial vehicles, as well as in two-wheel vehicles. Additionally, the demand for lead acid batteries has also increased because of the growing use of uninterruptive power supplies as a consequence of the fast urbanization and industrialization. It is expected, that the storage technology introduction in developing countries, such as India and China, will stimulate the lead acid battery market in this regions. Furthermore, it is anticipated, that the demand increase for battery cars will accelerate the global lead acid battery market even more.
The competition level in the analyzed regions was also examined. The list of companies, which supply this region with batteries, consists of such companies as Johnson Controls INC, Exide Technologies, GS Yuasa Corporation, EnerSys and Yokohama Industries.
Authors:
Lemeshevsky V.M., General Director of 1AK-GROUP Holding
Vertai S.P., PhD of Economic Sciences, Associate Professor, Deputy General Director for Marketing of 1AK-GROUP Holding