The increasing electrification of vehicles and the growing investment in large-scale renewable energy projects worldwide have propelled the demand for lead-acid batteries, which are crucial components in these applications and rely on grid casting machines for their manufacturing processes.
With the production of batteries on the rise, the Grid Casting Machine Market is projected to surpass US$ 6,085.80 million by the year 2034. As of 2024, the market size stands at US$ 2,818.90 million, with industry expansion anticipated to maintain a steady compound annual growth rate (CAGR) of 5.50% from 2024 to 2034.
As the electrification trend gains momentum, there is a corresponding increase in the demand for machinery used in the production of lead grids for batteries. While electric vehicles primarily utilize lithium-ion batteries, traditional lead-acid batteries remain essential for certain applications such as hybrids. The manufacturing of these lead grids relies on grid casting equipment to meet the evolving demands of the market.
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Trends
The growth of telecommunication networks in developing regions serves as a significant catalyst for industry expansion. The increasing demand for backup power solutions further fuels growth within the sector.
Microgrid initiatives implemented in remote and off-grid areas play a pivotal role in driving industry expansion, with the need for energy resilience driving up demand for related products and services.
The rise of lead-acid battery recycling programs within the battery industry is gaining traction, leading to a surge in demand for grid casting equipment capable of processing reclaimed materials.
The ongoing expansion of global infrastructure contributes to the industry’s prosperity, particularly as these machines are instrumental in manufacturing lead-acid batteries used for backup power systems and uninterruptible power supplies.
Key Players
- WIRTZ Manufacturing Company
- SoVema Group
- MAC Engineering
- HADI Manufacturing Company
- AXFA Corporation
- Borit NV
- EK Battemakina
- Kunshan Lead Power Equipment Co., Ltd.
- CAM Elit Batarya
- Daramic, LLC
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Key Segments
By Type:
- Continuous Grid Casting Machines
- Semi-Continuous Grid Casting Machines
- Batch Grid Casting Machines
By End-use Industries:
- Automotive
- Renewable Energy
- Aerospace
- Electronics
- Others
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific (APAC)
- Middle East & Africa (MEA)
- Japan
