Lead-Acid Battery Market Revenue, Growth Rate, Customer Needs, Trend and Demand Forecast to 2023
The Lead–acid battery market is projected to reach $70.7 billion by 2023. Increasing demand for electric vehicles and automobiles coupled with urbanization and industrialization in emerging economies are likely to create demand for applications of lead–acid batteries and thus expected to propel the market growth during the forecast period.
The Lead–acid battery market is projected to reach $70.7 billion by 2023. Increasing demand for electric vehicles and automobiles coupled with urbanization and industrialization in emerging economies are likely to create demand for applications of lead–acid batteries and thus expected to propel the market growth during the forecast period.
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Global <strong>Lead</strong>-<strong>Acid</strong> <strong>Battery</strong> <strong>Market</strong><br />
The <strong>Lead</strong>–acid battery market is projected <strong>to</strong> reach $70.7 billion by <strong>2023</strong>. Increasing dem<strong>and</strong> for electric<br />
vehicles <strong>and</strong> au<strong>to</strong>mobiles coupled with urbanization <strong>and</strong> industrialization in emerging economies are likely <strong>to</strong><br />
create dem<strong>and</strong> for applications of lead–acid batteries <strong>and</strong> thus expected <strong>to</strong> propel the market growth during<br />
the forecast period.<br />
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On the basis of construction, the lead–acid battery market is categorized in<strong>to</strong> flooded <strong>and</strong> valve regulated<br />
lead–acid (VRLA). Traditionally, flooded lead-acid battery held the larger share in the market, contributing<br />
more than 51.0% in terms of volume. This is in coherence with its cost-effectiveness for entry level start-s<strong>to</strong>p<br />
vehicles over its counterpart.<br />
Based on type, the market for lead–acid battery is bifurcated in<strong>to</strong> st<strong>and</strong>by, motive, <strong>and</strong> starting, lighting, <strong>and</strong><br />
ignition (SLI). In 2017, SLI category was the largest type in the market, constituting a market share of more<br />
than 55.0% in terms of volume.<br />
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