Lead Acid Batteries Market Global Outlook And Trends Analysis Report 2024 (Business Opportunities - Advertising Service)

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Lead Acid Batteries Market Global Outlook And Trends Analysis Report 2024

The Lead Acid Batteries by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2024-2033).

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In recent years, the lead acid batteries market, as reported by The Business Research Company, has experienced rapid growth, expanding from $28.86 billion in 2024 to a projected $32.02 billion in the same year, showcasing a remarkable compound annual growth rate (CAGR) of 11.0%. This surge in market size during the historic period is attributable to robust economic expansion in emerging markets, the rapid evolution of the automotive sector, and an escalating demand for renewable energy sources.

Growing demand in the automobile industry contributed to the growth of the lead-acid batteries market. Rising research and development activities in the automotive lead-acid battery industry, coupled with government initiatives for electric vehicles are propelling the growth of the global automotive market, thereby increasing the demand for lead-acid batteries. For instance, in October 2022, according to the Indian Brand Equity Foundation (IBEF), India-based, an India-based government agency for providing economic information, incentives of US$ 3.5 billion are proposed by the Indian government as part of a revised program to promote the production and export of clean technology vehicles over five years until 2026. Additionally, as of June 2021, 87,659 electric vehicles had received incentive support, 6,265 electric buses had been approved for usage by various state/city transportation undertakings, and Rs. 871 crores (US$ 117 million) had been spent under the FAME-II plan. The increasing adoption of lead-acid batteries in electric vehicles along with growing government initiatives to promote electric vehicles is anticipated to drive the demand for the lead-acid battery market in the forecast period.

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The lead acid batteries market covered in this report is segmented –
1) By Type: Stationary, Motive And Starting, Lighting And Ignition (SLI)
2) By Technology: Basic Lead-Acid Battery, Advanced Lead-Acid Battery
3) By Construction Method: Flooded, Valve Regulated Lead-Acid (VRLA)
4) By End User: Transportation, Industrial, Commercial And Residential, Utilities

A notable catalyst for heightened demand in the lead acid batteries sector is the introduction of Absorbent Glass Mat (AGM) technology. AGM, characterized by its reduced weight, enhanced electrical reliability, and superior performance, has emerged as a preferred battery for upscale motorbikes, excelling in reduced acid spillage and optimal functionality even in cold temperatures. As per Battery University, AGM batteries are gaining traction in diverse applications, including motor homes, marine vessels, and robotics. As technological advancements continue to enhance the capabilities of lead-acid batteries, the market is poised for sustained growth in the forecast period.

The lead acid batteries market report table of contents includes:
1. Executive Summary
2. Lead Acid Batteries Market Characteristics
3. Lead Acid Batteries Market Trends And Strategies
4. Lead Acid Batteries Market - Macro Economic Scenario
5. Global Lead Acid Batteries Market Size and Growth

32. Global Lead Acid Batteries Market Competitive Benchmarking
33. Global Lead Acid Batteries Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Lead Acid Batteries Market
35. Lead Acid Batteries Market Future Outlook and Potential Analysis
36. Appendix

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Last Update : Feb 28, 2024 2:28 AM
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Item  Owner  : TBRC
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