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According to a report released by Markets and Markets, an international market research institution, the global high-grade lead-acid battery market demand is expected to reach $22.
7 billion in 2022, and this data will increase to $30.
7 billion by 2027, with a compound annual growth rate of 6.
3%.
Expanding data centers and growing telecommunications industry are the major drivers
driving the demand growth in the advanced lead-acid battery market.
In terms of battery type, power batteries/traction batteries will account for the major share during the forecast period, and this type of battery mainly provides power
to transport vehicles.
The main design of these battery systems is to have greater deep cycling capability while still maintaining and maintaining a long service life
.
According to the installation method, it is mainly divided into flooded type and VRLA (valve regulated lead-acid battery) battery
.
VRLA (Valve Regulated Lead-Acid Battery) is expected to account for the largest share
by value during the forecast period.
Compared to modern lead-acid batteries, VRLA batteries use relatively little electrolyte (sulfuric acid) and are mainly used in the automotive industry
.
Among end users, transportation is the most widely used segment in the advanced lead-acid battery market
.
Lead-acid batteries are easy to recycle and can be used in large quantities in passenger cars, light commercial vehicles, heavy commercial vehicles, forklifts and aviation
.
These batteries are low cost and readily available – factors that make them an effective choice in the transportation industry, which is capital-intensive and wants to reduce costs, driving the demand
for advanced lead-acid batteries.
In terms of regional market, Asia-Pacific is expected to become the largest market
for advanced lead-acid batteries.
This demand can be attributed to the high growth of emerging economies in the region, which makes Asia Pacific a lucrative market
for advanced lead-acid battery manufacturers.
China is one of
the countries with the greatest demand in the Asian region.
In the wake of the COVID-19 pandemic, the Chinese government has taken various measures to support automobile consumption
.
Thus, the growth of the automotive industry will boost the consumption of the advanced lead-acid battery market in the region
.
According to a report released by Markets and Markets, an international market research institution, the global high-grade lead-acid battery market demand is expected to reach $22.
7 billion in 2022, and this data will increase to $30.
7 billion by 2027, with a compound annual growth rate of 6.
3%.
Expanding data centers and growing telecommunications industry are the major drivers
driving the demand growth in the advanced lead-acid battery market.
In terms of battery type, power batteries/traction batteries will account for the major share during the forecast period, and this type of battery mainly provides power
to transport vehicles.
The main design of these battery systems is to have greater deep cycling capability while still maintaining and maintaining a long service life
.
According to the installation method, it is mainly divided into flooded type and VRLA (valve regulated lead-acid battery) battery
.
VRLA (Valve Regulated Lead-Acid Battery) is expected to account for the largest share
by value during the forecast period.
Compared to modern lead-acid batteries, VRLA batteries use relatively little electrolyte (sulfuric acid) and are mainly used in the automotive industry
.
Among end users, transportation is the most widely used segment in the advanced lead-acid battery market
.
Lead-acid batteries are easy to recycle and can be used in large quantities in passenger cars, light commercial vehicles, heavy commercial vehicles, forklifts and aviation
.
These batteries are low cost and readily available – factors that make them an effective choice in the transportation industry, which is capital-intensive and wants to reduce costs, driving the demand
for advanced lead-acid batteries.
In terms of regional market, Asia-Pacific is expected to become the largest market
for advanced lead-acid batteries.
This demand can be attributed to the high growth of emerging economies in the region, which makes Asia Pacific a lucrative market
for advanced lead-acid battery manufacturers.
China is one of
the countries with the greatest demand in the Asian region.
In the wake of the COVID-19 pandemic, the Chinese government has taken various measures to support automobile consumption
.
Thus, the growth of the automotive industry will boost the consumption of the advanced lead-acid battery market in the region
.
