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Lead Acid Battery Market Size Worth USD 70.1 Billion by 2025 | CAGR: 5.6%

The Lead Acid Battery market is expected to grow at CAGR of 5.6% to reach USD 70.1 billion by 2025.

Lead-acid batteries are rechargeable batteries that are used as an energy storage system in major applications such as utility vehicles, solar farms, domestic solar systems, and other systems where the stored energy is a necessity. The uses of lead-acid batteries are growing day by day. The need for sustainable alternatives to fuel combustion engines is fuelling the demand for lead-acid batteries. Technological advancements in lead-acid batteries have allowed applications wherein heavy loads are to be driven. The ability of these batteries to cater to environment-friendly needs has created several opportunities for the companies operating in this market.

Electric Vehicles to Stimulate Lead Acid Battery Market Growth

Global warming has caught the attention of people across the world. The increasing adverse effects of global warming such as climate change, degraded air quality, and others have led to a goring emphasis on reducing the use of utilities that emit such gases. The automobile is on the fastest growing industries in the world and a major percentage of the global population tends to travel through a personally owned vehicle. Such widespread use of the automobile and public transport have contributed massively to the increasing pollution across the world. Accounting to this, governments across the world are focused on engaging as well as promoting the use of electric vehicles, with the aim to minimize the effects of global warming. Lead-acid batteries are integral to electric vehicles and their properties such as longer operating time, high storage capacity, and low maintenance cost have led to an increased demand for the product across the world. The growing demand for these products will constitute an increase in the global market size.

Browse 112 Tables and 87 Figures spread through over 150 Pages and in-depth TOC on “ Lead Acid Battery Market, By Product (SLI, Motive, and Stationary), By Construction Method (Flooded, and VRLA), By Application (Telecommunication, Automotive, Transport Vehicles, UPS, and Electric Bikes, and Geography (North America, Europe, Asia Pacific, Middle East & Africa, and Latin America) – Analysis, Share, Trends, Size, & Forecast from 2019 – 2025“

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Innovations in Lead Acid Battery to Serve Growing Consumer Needs

The growing demand for lead-acid batteries has caught the eyes of investors across the world. As investors have identified this market as a gem, there have been several market entrants in recent years. Increasing investments have yielded several product innovations. The company “Tydrolyte LLC” has been the highlight of the lead-acid battery industry in recent times. In August 2019, the company introduced a new electrolyte solution for lead-acid batteries. The product received several allocates and is likely to derive massive growth opportunities in the coming years. The report includes industry developments, similar to the aforementioned product and states their impact on the global market.

The scope of this report covers the market by its major segments, which include as follows:

KEY MANUFACTURERS