Lead Acid Battery Market Size To Reach USD 66.65 Billion In 2030 Due to Growing Telecommunication Sector Owing To Introduction Of Faster And Efficient Technology Has Led To Rise In Demand Of Lead Acid Battery, Says Reports and Data

NEW YORK, March 28, 2022 /PRNewswire/ -- The global lead acid battery market size is expected to reach USD 66.65 Billion in 2030 and register a revenue CAGR of 4.3% over the forecast period, according to the latest report by Reports and Data. Steady market revenue growth of lead acid battery is due to rapid technological advancements in telecom sector. However, limited usage of capacity of lead acid batteries is expected to hinder market revenue growth.

Telecommunications systems should ensure continuous availability of services. This applies both to commercial services offered to the general public and to emergency services provided over critical infrastructure networks. Various companies adopt thin plate pure lead technology to provide an enhanced rapid charging acceptance and a superior cyclic performance in even the harshest environments. The thin plates are made from high pure lead grids and active pure lead material which increases grid conductivity for highly efficient recharge and discharge providing an extended service life and making them ideal for all wireless and fixed line telecommunication applications. Smaller dimensions, lighter weight, and front terminal access makes pure lead batteries ideal for installation in a wide range of battery cabinets and racks which is expected to drive market revenue growth.

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Some Key Highlights from the Report:

• Among technology segment, advanced segment accounted for largest market revenue share in 2020 and is expected to register a faster revenue CAGR during the forecast period. Advancement in technology has led to use of easy available, cost-effective and better performing materials. Lead-acid battery products have found a wide variety of applications including small-scale power storage such as UPS systems, starting, lighting and ignition power sources for automobiles, along with large, grid-scale power systems owing to rising investment in R&D. They are durable and cost-effective compared to other battery types which is expected to drive the segment revenue growth.

• Among construction segment, flooded segment accounted for largest market revenue share in 2020 and is expected to register a faster revenue CAGR during the forecast period.  Flooded lead-acid battery has been the standard in the solar industry. This type of battery is also used in golf carts and forklifts. They are the most cost effective and long lasting of the lead-acid batteries. Flooded lead-acid batteries contain an electrolyte that is free to move around in the battery encasement. While this is the most economic lead-acid type battery, it will only reach its potential lifespan if it is maintained properly.

• In March 2020, Amara Raja Electronics Ltd. entered into an agreement with Salom Electric Co. as a manufacturing and supply partner. As a part of the deal, Amara Raja electronics would provide Salom Electric Co. with a wide range of power products including external power supplies, battery chargers, wall plug-in power supplies, car chargers, vehicle power adaptors, power banks, wireless chargers, and associated products.
• Companies profiled in the global market report include Panasonic Corporation, Exide Industries Ltd., Hitachi Chemical Company Ltd., Amara Raja Batteries Ltd., HBL Power Systems Ltd., Zhejiang Narada Power Source Co., Ltd, Crown Battery Corporation, C&D Technologies Inc., GS Yuasa International Ltd., and Camel Group Co. Ltd.

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For the purpose of this report, Reports and Data has segmented lead acid battery market based on type, construction, technology, end-use, and region:

Type Outlook (Revenue, USD Million; 2018–2030)

• Stationary
• Motive

End use Outlook (Revenue, USD Million; 2018–2030)

• Utility
• Transportation
• Industrial
• Commercial & Residential 

Technology Outlook (Revenue, USD Million; 2018–2030)

• Basic
• Advanced

Construction Outlook (Revenue, USD Million; 2018–2030)

• Flooded
• Vrla (valve regulated lead–acid) Battery 

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Regional Outlook (Revenue, USD Million; 2018–2030)

• North America
  a. US
  b. Canada
  c. Mexico
• Europe
  a. Germany
  b. UK
  c. France
  d. Italy
  e. Spain
  f. Sweden
  g. BENELUX
  h. Rest of Europe
• Asia Pacific
  a. China
  b. India
  c. Japan
  d. South Korea
  e. Rest of APAC
• Latin America
  a. Brazil
  b. Rest of LATAM
• Middle East & Africa
  a. Saudi Arabia
  b. UAE
  c. South Africa
  d. Israel
  e. Rest of MEA

To identify the key trends in the industry, research study at https://www.reportsanddata.com/report-detail/lead-acid-battery-market 

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