Future Market Insights (FMI) has released its latest report titled, “Lead
Acid Battery, Global Market Opportunity; 2014 to 2020 Forecast”, According to
the report, the global lead acid battery market was valued at US$ 44,689 Mn in
2014. The market is projected to account for US$ 58,552 Mn by 2020, exhibiting
a CAGR of 4.6% between 2014 and 2020.
The global lead acid battery market is
driven by factors such as Urbanisation and industrialisation, increasing
adoption of UPS, adoption of grid storage technology. However, volatility in
raw material price, and stringent government regulations are expected to hamper
the global lead acid battery market over the forecast period.
Lead acid batteries are primarily used
in commercial vehicles, passenger cars, and two wheelers. According to
application type, the global lead acid battery market is segmented as
stationary industrial, residential,
transportation, motive industrial, commercial, stationary industrial, and grid
storage.
Transportation and stationary industrial collectively accounted for 77.9% of
market revenue in 2014. Transportation was the largest end-use application in
the global lead acid battery market in 2014, and is anticipated to continue its
dominance through 2020. Stationary industrial is the second largest contributor
to the global lead acid battery market, and is expected to exhibit the fastest
CAGR of 8.6% during the forecast period.
Browse Full: "Global Lead Acid Battery Market Opportunity & Assessment, 2014 - 2020" Report at http://www.futuremarketinsights.com/reports/details/global-lead-acid-battery-market
Moreover, the grid
storage is one of the smallest end-use application segments in the global lead
acid battery market, but is anticipated to register the fastest CAGR of 7.3% between
2014 and 2020. This growth is attributed to adoption of grid storage technology
in developing countries such as China and India. Factors such as increasing
adoption of UPS and demand for electrical vehicles are expected to further
accelerate the expansion of the lead acid battery market globally over the
forecast period. Moreover, lead is the essential raw material used in
manufacturing of lead acid batteries. Lead prices account for 49% of the
overall cost of the lead acid batteries. As a result, any fluctuations in lead
price is expected to affect the overall profitability of the global lead acid
battery market in the near future.
Furthermore, the growth of the global lead acid battery market is expected to inhibit
by 2020, owing to the fact, The U.S. Environmental Protection Agency (EPA) has
published new lead emissions standards under the National Ambient Air Quality
Standards (NAAQS) in November 2008. The new standards curb lead emissions by
restricting off-site concentration standards for lead in air from 1.5 mg per
cubic meter to 0.15 mg per cubic meter.
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Region-wise,
Asia pacific is the largest contributor, and expected to continue its dominance
through 2020. Asia Pacific was valued at US$ 15,297 Mn in 2014. The market is
expected to reach US$ 19,881 Mn by 2020, registering a CAGR of 4.5% during the
forecast period. North America and
Western Europe are the other major regions, contributing 21.6% and 18.7%
respectively to the global lead acid battery market over the forecast period.
Eastern Europe accounted for the lowest revenue contribution in 2014, but is projected
to exhibit a significant CAGR of 5.5 % during the forecast period.
Key player in the
global lead acid battery market include Exide Technologies, EnerSys, Johnson
Controls INC, and GS Yuasa Corporation.
About Us
Future Market Insights (FMI) is a leading market intelligence and
consulting firm delivering syndicated research reports, custom research reports
and consulting services. Our research services cover global as well as regional
emerging markets such as GCC, ASEAN and BRICS. Our offerings cover a broad
spectrum of industries including Chemicals, Materials, Energy, Technology,
Healthcare and Retail.
Contact
Ms. Shibboo Singh
3rd Floor,
207 Regent Street,
London - W1B 3HH
United Kingdom
London - W1B 3HH
United Kingdom
T: + 44 (0) 20 7692 8790
D: +44 (0) 20 3287 4268
D: +44 (0) 20 3287 4268
Website: Future Market Insights
Neexgent is a distinguished Lead acid battery supplier, recognized for its unwavering commitment to excellence and delivering top-tier power storage solutions to meet the demands of diverse industries.
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