The lead acid battery market was valued at US$ 49.16 billion in 2016 and is projected to reach US$ 72.29 billion by 2025, exhibiting a CAGR of 4.41% during the forecast period. According to Lead acid battery Market Report, by product type (SLI Lead Acid Battery, Stationary Lead Acid Battery, and Motive Lead Acid Battery) by Construction method (Flooded Lead Acid Battery, and VRLA Lead Acid Battery), by end use (Industrial, Residential, and Commercial) published by Coherent Market Insights.
Growing demand from various industries such as automobiles and telecom sector coupled with increasing demand for uninterrupted power supply are the factors contributing to the market growth of lead acid batteries.
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Browse 500 market data tables* and 470 figures* on "Lead acid battery Market” - Global forecast to 2025.
Key Trends and Analysis of the Global lead acid battery Market:
In terms of product segmentation, SLI lead battery accounted for the largest market share of 54.51% in 2016 and is expected to witness a CAGR of 3.39% over the forecast period, owing to its various applications in the automotive sector. However, the increasing demand for stationery battery as power backup system in telecom and manufacturing industries makes it the fastest growing segment and is expected to witness a CAGR of 5.81% over the forecast period.
In terms of end use, industrial segment held the largest market share in 2016 and is expected to retain its dominance during the forecast period. However, increasing use of solar power panels is expected to drive the demand for commercial and residential segment over the forecast period. Furthermore, the increasing demand for uninterrupted power supply in commercial spaces, such as hospitals and offices is a major factor expected to drive growth of the market.
Key Takeaways of the Market:
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