The lead acid battery market valuation is expected to reach US$ 54.3 Billion in 2021. Future Market Insights (FMI) analysis has forecast the lead acid battery sales to increase at 5.2% CAGR between 2021 and 2031. According to the study, the overall lead acid battery market valuation will top US$ 90.5 Billion by 2031.
As per FMI, the demand for AGM battery is expected to increase at a high pace, exhibiting 6.2% CAGR in 2021.
The global sales of lead acid battery are set to be valued at over US$ 54.3 Billion in 2021, with a stable long-term projection, according to latest insights by Future Market Insights (FMI). The report has forecast the market to expand at over 5.2% CAGR between 2021 and 2031.
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The lead acid battery market valuation is expected to reach US$ 54.3 Bn in 2021. Future Market Insights (FMI) analysis has forecast the lead acid battery sales to increase at 5.2% CAGR between 2021 and 2031. According to the study, the overall market valuation will top US$ 90.5 Bn by 2031.
As per FMI, the demand for AGM battery is expected to increase at a high pace, exhibiting 6.2% CAGR in 2021.
According to the market analysis by Future Market Insights, expansion of automotive production facilities to cover rural and other remote areas has led to the increasing demand for lead acid battery. Rapid technological advancements in production technologies are also projected to complement market growth over the coming years.
Demand for lead acid battery is increasing with the rise in the volume of vehicle fleet in recent years. This can be attributed to an increase in aftermarket sales in regular interims for battery replacement.
The growing requirement has led to mass production and has increased importance of process automation in the lead acid battery market. The market is shifting towards industry 4.0 s, leading to the universal adoption of new production technologies.
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There also is an increasing demand from other industries for deployment of lead acid battery. Increasing number of players focusing on research and development related to lead acid battery is anticipated to have a significant contribution towards market growth in the years to come.
Key Segments Profiled in the Lead Acid Battery Industry Survey
Lead Acid Battery Market by Product Type:
- Flooded Battery
- AGM Battery
- Gel Battery
Lead Acid Battery Market by Application:
- Lead Acid Battery for Transportation
- Lead Acid Battery in Passenger Cars
- Lead Acid Battery in LCV
- Lead Acid Battery in HCV
- Lead Acid Battery in Two wheelers
- Others
- Lead Acid Battery for Motive Industrial
- Lead Acid Battery for Stationary Industrial
- Lead Acid Battery for Commercial
- Lead Acid Battery for Residential
- Lead Acid Battery for Grid Storage
- Lead Acid Battery for Others
Lead Acid Battery Market by Sales Channel:
- Lead Acid Battery in OEM
- Lead Acid Battery in Aftermarket
Lead Acid Battery Market by Region:
- North America Lead Acid Battery Market
- Latin America Lead Acid Battery Market
- Europe Lead Acid Battery Market
- Asia Pacific Lead Acid Battery Market
- Middle East and Africa (MEA) Lead Acid Battery Market
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About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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