The surging demand for energy storage solutions, propelled by the rise of renewable energy sources and the imperative for grid stability, has opened avenues for advanced lead-acid batteries. These batteries emerge as cost-effective energy storage solutions for grid applications.
Efforts to address environmental concerns linked to traditional lead-acid batteries have led to the development of advanced variants, featuring improved recycling processes and reduced environmental impact. This has enhanced their acceptance in markets subject to stringent environmental regulations.
The versatility of advanced lead-acid batteries renders them invaluable across diverse sectors like automotive, telecommunications, renewable energy storage, and industrial power backup. Their capacity to meet a broad spectrum of needs significantly contributes to the overall market growth.
The escalating wave of industrialization and infrastructure development in emerging economies has stimulated a heightened demand for reliable and cost-effective energy storage solutions. Advanced lead-acid batteries have proven to align well with the requirements of these markets, playing a pivotal role in propelling the overall market expansion.
Key Takeaways from the Market Study
The advanced lead-acid battery market witnessed a CAGR of 8.6% from 2019 to 2023.
The motive segment is anticipated to account for a 6.7% CAGR in 2024.
China is predicted to represent a 7.9% CAGR in 2024, leading global demand.
The United States is expected to achieve a 7.1% CAGR in 2024.
Japan is projected to expand by a value CAGR of 8.5% between 2024 and 2034.
The United Kingdom is anticipated to record an 8.0% CAGR in 2024.
Competitive Landscape
Manufacturers are deploying diverse marketing strategies, including new product introductions, geographical expansions, mergers and acquisitions, and strategic partnerships. These initiatives aim to capture the attention of potential buyers and cultivate a broader customer base. Key players in the advanced lead-acid battery market include:
Amara Raja
Chaowei Power Holdings Limited
Coslight Technology International Group Co., Ltd
Crown Battery
East Penn Manufacturing
Enersys
Exide Industries Ltd
Hitachi Chemical Energy Technology
GS Yuasa International Ltd
Furukawa Battery Co. Ltd
Product Portfolio
Coslight Technology International Group Co. Ltd. is a diversified company involved in various energy-related products, playing a significant role in the lead-acid battery market.
Crown Battery is a well-established manufacturer of lead-acid batteries for various industries, maintaining a reputation for quality and reliability.
Valuable Insights Available
Future Market Insights offers an unbiased analysis of the global advanced lead-acid battery market, providing historical data from 2019 to 2023 and forecast statistics between 2024 and 2034.
To understand opportunities in the advanced lead-acid battery industry, the market is segmented based on type, construction method, end-use industry, and region.
The industrial automation team at Future Market Insights offers expert analysis, time-efficient research, and strategic recommendations, providing authentic insights and accurate results to help clients worldwide.
About the Author
Nikhil Kaitwade, Associate Vice President at Future Market Insights, Inc., brings over a decade of experience in market research and business consulting. With a strong focus on developing research methodology and creating unique analysis frameworks, he has delivered over 1500 client assignments.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. He has authored several publications and been quoted in journals like EMS Now, EPR Magazine, and EE Times.
About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions. The team continuously tracks emerging trends and events to ensure clients prepare for the evolving needs of their consumers.
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The site's commitment to eco-friendly practices is inspiring.
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