Advanced Lead Acid Battery Market Size, Share, Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2023-2028
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Advanced Lead Acid Battery Market Size, Share, Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2023-2028
The Advanced Lead Acid Battery Market is segmented by Battery Type (Stationary, and Motive), by Construction Type (Flooded, and VRLA), by End-User Type (Utilities, Transportation, Industrial, and Commercial & Residential), and by Region (North America [The USA, Canada, and Mexico], Europe [Germany, France, The UK, and Rest of Europe], Asia-Pacific [China, Japan, India, and Rest of Asia-Pacific], and Rest of the World [Brazil, Saudi Arabia, and Others]).
The Advanced Lead Acid Battery Market is segmented by Battery Type (Stationary, and Motive), by Construction Type (Flooded, and VRLA), by End-User Type (Utilities, Transportation, Industrial, and Commercial & Residential), and by Region...
Advanced lead acid batteries are a range of rechargeable energy storage solutions that go beyond traditional flooded lead acid batteries. These advanced variants include Absorbent Glass Mat (AGM) batteries, Gel batteries, Enhanced Flooded Batteries (EFB), and other improved designs. These batteries feature enhanced technologies and construction methods to improve performance, durability, and efficiency compared to conventional lead-acid batteries.
Market Drivers
Key factors promoting the advanced lead-acid battery are attributed to the increasing need for energy storage in renewable energy systems, higher usage of electric vehicles, and increasing application scope in industrial applications such as UPS.
Thirdly, increased overall efficiency and the development of advanced cost-effective technologies of lead-acid batteries also fuel the market growth further. The emphasis on sustainable and recycling applications of these batteries also increases their use in different industries.
COVID-19 Impact
Advanced Lead Acid battery, a sizeable market, could not escape from the pandemic and witnessed a colossal decline, quite aligned with the decline in automobile production. However, the industry is gradually rebounding in the year 2021 with the ramp-up in consumer confidence.
Furthermore, an incessant shift from traditional ICE vehicles to hybrid vehicles is likely to give impetus to the demand for advanced lead-acid batteries.
Segments Analysis
Segmentations
List of Sub-Segments
Dominant and Fastest-Growing Segments
Battery-Type Analysis
Stationary and Motive
The stationary segment is anticipated to capture a bigger chunk of the market in the years to come.
Construction-Type Analysis
Flooded and VRLA
VRLA battery is anticipated to remain the largest as well as the fastest-growing market in the years to come.
End-User-Type Analysis
Utilities, Transportation, Industrial, and Commercial & Residential
Utility applications are likely to grow at the fastest rate during the forecast period.
Regional Analysis
North America, Europe, Asia-Pacific, and The Rest of the World
Asia-Pacific is expected to remain the largest market over the next five years.
By Battery Type
“The stationary segment is expected to remain the pioneer battery type in the market during the forecast period”.
The advanced lead acid battery market is segmented into stationary and motive. The stationary segment is expected to remain the pioneer battery type in the market during the forecast period. Professional stationary batteries are utilized for seamless power integration in solar PV systems, requiring accurate capacity in the battery bank.
Primarily used as standby power in energy, telecommunications, hospitals, and industries, the demand for these batteries is projected to rise due to the growth in the telecom sector and rapid industrialization in developing countries during the forecast period.
By Construction Type
“VRLA is estimated to remain the dominant as well as the fastest-growing construction in the market during the forecast period”.
The market is segmented into flooded and VRLA. VRLA is estimated to remain the dominant as well as the fastest-growing construction in the market during the forecast period. A VRLA battery, an upgraded version of a semi-concentric sulfuric acid electrolyte battery, doesn't need regular water addition to its cells. Termed as no maintenance batteries, the VRLA batteries with zero maintenance requirements are expected to drive the market in this segment.
By End-User Type
“Utility is expected to be the fastest-growing end-user type in the market during the forecast period”.
The market is segmented into utilities, transportation, industrial, and commercial & residential. Utility is expected to be the fastest-growing end-user type in the market during the forecast period. As the importance of optimizing electricity from renewables grows, advanced lead-acid batteries emerge as reliable and cost-effective solutions, making battery storage affordable for utilities. The increasing power consumption worldwide is driving demand for advanced lead acid batteries during the forecast period.
Regional Analysis
“Asia-Pacific is expected to remain the largest market for advanced lead acid batteries during the forecast period”.
The market is broken down geographically into North America, Europe, Asia-Pacific, and the Rest of the World (RoW). In terms of regions, Asia-Pacific is expected to remain the largest market for advanced lead acid batteries during the forecast period.
The region has experienced substantial industrial growth, particularly in countries like China and India. This industrial expansion has led to an increased demand for reliable and cost-effective energy storage solutions like advanced lead-acid batteries.
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Key Players
The following are the key players in the Advanced Lead Acid Battery Market (arranged alphabetically)
Clarios
Enersys
Exide Industries Ltd.
GS Yuasa International Ltd.
Leoch International Technology Limited Inc.
Note: The above list does not necessarily include all the top players in the market.
Are you the leading player in this market? We would love to include your name. Write to us at sales@stratviewresearch.com
Report Features
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.
What Deliverables Will You Get in this Report?
Key questions this report answers
Relevant contents in the report
How big is the sales opportunity?
In-depth Analysis of the Advanced Lead Acid Battery Market
How lucrative is the future?
The market forecast and trend data and emerging trends
Which regions offer the best sales opportunities?
Global, regional, and country-level historical data and forecasts
Which are the most attractive market segments?
Market segment analysis and Forecast
Which are the top players and their market positioning?
Porter’s five forces analysis, PEST analysis, Life cycle analysis
What are the factors affecting the market?
Drivers & challenges
Will I get the information on my specific requirement?
10% free customization
Research Methodology
This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.
More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles have been leveraged to gather the data.
We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.
Customization Options
With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:
Company Profiling
Detailed profiling of additional market players (up to three players)
SWOT analysis of key players (up to three players)
Competitive Benchmarking
Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.
Custom Research:
Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com.
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The advanced lead acid battery market is estimated to grow at a CAGR of 6.2% by 2028, driven by advancements in battery technologies and growing energy storage needs.
Asia-Pacific is estimated to remain dominant in the advanced lead acid battery market in the foreseeable future. The huge population in the region leads to the high energy demand.
Asia-Pacific is estimated to remain the fastest-growing market for advanced lead acid batteries in the foreseeable future. The region is home to some of the world's fastest-growing economies and is undergoing significant economic development. This growth results in increased industrialization, infrastructure development, and rising energy demand, driving the need for advanced lead-acid batteries in various applications.
The utility is estimated to be the dominant end-user in the market in the coming years. These batteries are commonly used in various vehicles, including traditional internal combustion engine vehicles, start-stop systems, micro-hybrid vehicles, and some electric vehicles in the mild-hybrid category.
Enersys, Clarios, Exide Industries Ltd., Gs Yuasa International Ltd., Leoch International Technology Limited Inc., Crown Battery, Narada Power, Amara Raja Batteries Ltd., East Penn Manufacturing Company, and Fiamm Energy Technology S.P.A., The Furukawa Battery Co., Ltd., Tianneng Group, Shuangdeng Group Co., Ltd., Trojan Battery Company, Llc., Camel Group Co., Ltd., Chaowei Power Holdings Limited, and Coslight Technology International Group Co., Ltd. are the leading players in the advanced lead acid battery market.