Global Lead Acid Battery market is expected to grow from $53.32 billion in 2016 to reach $81.25 billion by 2022 with a CAGR of 7.2%. Growing industrialization and urbanization, raising usage in hybrid and electric vehicles, and technological advancements are the factors propelling the market growth. However, intense competition, stringent government regulations are hampering the market growth.
Among all product segments SLI product is expected to lead the market with a highest market share during the forecast period. It is attributed by the heavy usage in automotive sector. Besides, Stationary segment is anticipated to command the market with a higher CAGR. Asia pacific is dominating the global market over the forecast period. The growth is attributed to increasing construction industry in developing economies, favorable government regulations, and increasing disposable income.
Some of the key players in global Lead Acid Battery market include ATLASBX Co., Ltd., B.B. Battery Co., Ltd., C&D Technologies, Inc., Chloride Batteries S E Asia Pte. Ltd., Crown Battery, CSB Battery Co., Ltd., East Penn Manufacturing, EnerSys, Exide Technologies, Fujian Quanzhou Dahua Battery Co., Ltd, Johnson Controls, Leoch International Technology Ltd., Nipress, NorthStar, Panasonic Corporation, and Zibo Torch Energy Co., Ltd.
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