The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032
LONDON, Nov. 16, 2023 (GLOBE NEWSWIRE) — As per The Business Research Company’s Lead Acid Batteries Global Market Report 2023, the global lead acid batteries market showcases robust expansion, surging from $25.65 billion in 2022 to $28.86 billion in 2023, reflecting an impressive Compound Annual Growth Rate (CAGR) of 12.5%. The momentum is expected to persist, with the lead acid batteries market size projected to reach $44.89 billion in 2027 at a steady CAGR of 11.7%.
Market Drivers:
The driving forces behind this growth trajectory are the escalating demand for electric vehicles and the burgeoning expansion of data center infrastructure. As the automotive industry increasingly embraces electric mobility and data centers become pivotal in the digital landscape, the lead acid batteries market is poised for substantial development.
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Market Concentration:
The market landscape is marked by a high degree of concentration, with the top ten competitors accounting for an impressive 70.32% of the total lead acid batteries market in 2022. Key players, including Chaowei Power Holdings Limited, GS Yuasa Corporation, and Clarios International Inc., dominate the competitive arena.
Key Trend: Introduction of Battery Analysers:
A notable trend shaping the lead-acid batteries market is the introduction of battery analysers. Major industry players are focusing on launching sophisticated battery analysers, such as ATEQ BA 1500 by ATEQ aviation, catering to users who need to assess battery capacity. This trend enhances safety and reliability, particularly in sectors like aviation, where accurate battery information is critical.
Segmentation Insights:
The lead-acid batteries market is segmented across various dimensions:
- Type: Stationary, Motive
- Technology: Basic Lead Acid Battery, Advanced Lead Acid Battery
- Construction Method: Flooded, Valve Regulated Lead Acid (VRLA)
- End User: Transportation, Industrial, Residential, Commercial
Top Growth Potential:
Within the lead-acid batteries market, the SLI (Starting, Lighting, and Ignition) segment emerges as the leader, poised to gain $5,565.1 million in global annual sales by 2027.
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As the lead-acid batteries market advances, industry players can leverage this comprehensive global market report to navigate growth opportunities effectively. Insights into market trends, competitor dynamics, and emerging segments will empower businesses to make strategic decisions and propel their growth in this dynamic lead acid batteries market.
Lead Acid Batteries Global Market Report 2023 by The Business Research Company provides insights on the lead acid batteries market size, lead acid batteries market segments, lead acid batteries market trends, drivers and restraints, major competitors’ market positioning, revenues and market shares.
The Business Research Company has published over 6,500+ industry reports, covering more than 2,500+ market segments and 60 geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.
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