Global Lead Acid Battery Market Care Market to Reach US$ 58,552 between 2014 and 2020
Future Market Insights has announced the addition of the "Global Lead Acid Battery Market Opportunity & Assessment, 2014 - 2020" report to their offering.
London, United Kingdom, February 24, 2015 (Newswire.com) - Future Market Insights (FMI) has released its latest report titled, “Lead Acid Battery, Global Market Opportunity; 2014 to 2020 Forecast”, According to the report, the global lead acid battery market was valued at US$ 44,689 Mn in 2014. The market is projected to account for US$ 58,552 Mn by 2020, exhibiting a CAGR of 4.6% between 2014 and 2020.
The global lead acid battery market is driven by factors such as Urbanisation and industrialisation, increasing adoption of UPS, adoption of grid storage technology. However, volatility in raw material price, and stringent government regulations are expected to hamper the global lead acid battery market over the forecast period.
Lead acid batteries are primarily used in commercial vehicles, passenger cars, and two wheelers. According to application type, the global lead acid battery market is segmented as stationary industrial, residential, transportation, motive industrial, commercial, stationary industrial, and grid storage. Transportation and stationary industrial collectively accounted for 77.9% of market revenue in 2014. Transportation was the largest end-use application in the global lead acid battery market in 2014, and is anticipated to continue its dominance through 2020. Stationary industrial is the second largest contributor to the global lead acid battery market, and is expected to exhibit the fastest CAGR of 8.6% during the forecast period.
Browse Full: "Global Lead Acid Battery Market Opportunity & Assessment, 2014 - 2020" Report at http://www.futuremarketinsights.com/reports/details/global-lead-acid-battery-market
Moreover, the grid storage is one of the smallest end-use application segments in the global lead acid battery market, but is anticipated to register the fastest CAGR of 7.3% between 2014 and 2020. This growth is attributed to adoption of grid storage technology in developing countries such as China and India. Factors such as increasing adoption of UPS and demand for electrical vehicles are expected to further accelerate the expansion of the lead acid battery market globally over the forecast period. Moreover, lead is the essential raw material used in manufacturing of lead acid batteries. Lead prices account for 49% of the overall cost of the lead acid batteries. As a result, any fluctuations in lead price is expected to affect the overall profitability of the global lead acid battery market in the near future.
Furthermore, the growth of the global lead acid battery market is expected to inhibit by 2020, owing to the fact, The U.S. Environmental Protection Agency (EPA) has published new lead emissions standards under the National Ambient Air Quality Standards (NAAQS) in November 2008. The new standards curb lead emissions by restricting off-site concentration standards for lead in air from 1.5 mg per cubic meter to 0.15 mg per cubic meter.
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Region-wise, Asia pacific is the largest contributor, and expected to continue its dominance through 2020. Asia Pacific was valued at US$ 15,297 Mn in 2014. The market is expected to reach US$ 19,881 Mn by 2020, registering a CAGR of 4.5% during the forecast period. North America and Western Europe are the other major regions, contributing 21.6% and 18.7% respectively to the global lead acid battery market over the forecast period. Eastern Europe accounted for the lowest revenue contribution in 2014, but is projected to exhibit a significant CAGR of 5.5 % during the forecast period.
Key player in the global lead acid battery market include Exide Technologies, EnerSys, Johnson Controls INC, and GS Yuasa Corporation.
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