Global sealed lead acid battery market is projected to reach USD 47327.59 Million by 2023

In the future, global market is expected to witness significant growth on account of rising applications, so in the next few years, Sealed Lead Acid (SLA) Battery production will show a trend of steady growth. Global sealed lead acid battery market is projected to reach USD 47327.59 Million by 2023 at an estimated CAGR of 7.33% during the forecast period. 

Publisher: QYResearch

Published Date: 2018-05-31

Sealed lead acid batteries are one of the predominantly used batteries in automobiles such as passenger cars, commercial cars and motorcycles. The rapid urbanization and industrialization trend in various developing countries across the globe is one among the chief drivers of lead acid battery market. Increasing requirement of uninterrupted power supply in industries, corporate offices, hospitals, research institutions, educational institutes and houses further add to demand of these batteries. Implementation of smart grid projects, deployment of vehicle charging infrastructure, increasing usage of hybrid and electric vehicles, increasing installation of renewable energy systems and increasing span of telecom towers are some of the underlying demand drivers for lead acid battery across the globe.

In global market, the consumption of Sealed Lead Acid (SLA) Battery increases from 209861.05 Million VAh in 2012 to 294841.64 Million VAh in 2016, at a CAGR of 8.87%. In 2016, the global Sealed Lead Acid (SLA) Battery consumption market is led by Asia Pacific, capturing about 51.40% of global Sealed Lead Acid (SLA) Battery sales. North America is the second-largest region-wise market with 22.22% global consumption share.

At present, some of the key players in global Lead Acid Battery market include Johnson Controls, Exide, CSB Battery, GS Yuasa Corporate, Enersys, EAST PENN Manufacturing, Sebang, Atlasbx, Amara Raja, C&D Technologies, Trojan, First National Battery, Chaowei Power, Tianneng Power, Camel, Fengfan, Leoch, Narada Power, Sacred Sun Power Sources, Coslight Technology.

On the basis of applications the market is segmented as automotive starter, motorcycles and electric bikes, forklifts and other vehicles and UPS. Automotive Starter and Motorcycles and Electric Bikes segments collectively contributed to the 68.58% of market consumptions in 2016. UPS application segment is identified as one of the fastest growing market during the past five years with CAGR of 10.64%.

In the future, global market is expected to witness significant growth on account of rising applications, so in the next few years, Sealed Lead Acid (SLA) Battery production will show a trend of steady growth. Global sealed lead acid battery market is projected to reach USD 47327.59 Million by 2023 at an estimated CAGR of 7.33% during the forecast period. 

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