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Market research analysts at Technavio have predicted that the global valve regulated lead-acid batteries market will grow steadily at a CAGR of about 8% by 2020. Forklifts have become the ideal choice for indoor operations in various sectors, such as automotive industries, iron and steel plants, food and beverages, and radioactive waste handling. As a result, the recent years have witnessed an exponential increase in the market share of electric forklifts. Since valve regulated rechargeable batteries offer high resilience even in difficult environmental conditions involving dirt, chemicals, and vibrations, they have become the ideal choice for use in forklifts. This market study report considers this increasing demand for forklifts as one of the major factors that will augment the growth of the valve regulated lead-acid (VRLA) rechargeable battery market.
It has been observed that sudden losses of power, voltage fluctuations, and power surges are the principle causes of damage to sensitive electronics. The exponential increase in the adoption of electronic devices has increased the dependence on a constant power supply to ensure continuity in daily operations. UPS systems enable constant power supply to electronic devices, prevent loss of data and productivity, protect electrical appliances from distorted power failures, and also regulate power fluctuations. The growing number of power outages will lead to an increasing demand for continuous power supply and storage, which will be a major trend that will gain traction in this market. The availability of cost-efficient labor and raw materials have induced several manufacturers to shift their operations to APAC countries. This market study estimates that the APAC region will account for a significant share of the valve regulated sealed lead acid battery market during the predicted period.
The market is characterized by the presence of several global, regional, and local VRLA battery manufacturers. Since all players compete to gain a considerable share of the market, the market appears highly competitive. As the market dynamics for lead-acid batteries are volatile, vendors have started making efforts to effectively improve their sales, distribution, and working capital to sustain their operations. To survive the market competition, few major vendors have also started considering joint ventures with regional and local vendors.
The leading vendors in the market are -
The other prominent vendors in the market are Chaowei Power Holdings, China Shoto, Shandong Sacred Sun Power Sources, Tianneng Power, Zhejiang Narada Power Source, Guangdong Dynavolt Power, Zhe Jiang Jujiang Power Manufacturing, German and Austrian Clay Power, Jester Zhejiang Power, Yangzhou Apollo Battery, Hangzhou Haijiu Battery, Battery sales Camel, Shandong Rui Yu Battery, Hangzhou Foreign Trade, Jiangsu New Energy, and Theo Watson.
This market research and analysis estimates that the stationary segment accounted for about 52% of the total share during 2015. This market segment growth is attributed to the increase in demand from golf carts, UPS, motorcycles, and forklifts. Stationary lead-acid batteries are expected to gain more significance in hospitals, cell phones towers, off-grid household systems, grid energy storage, and backup systems in the coming years.
According to this market study, the AGM segment will account for about 70% of the total share by 2020 and dominate the valve regulated lead-acid batteries market throughout the forecast period. In addition to good performance in cold temperatures, VRLA AGM batteries offer several other advantages, such as acid encapsulation, water retention, vibration resistance, and also charges several times faster than the other batteries. AGM batteries require very less maintenance making them well suited for marine and military operations in remote locations.
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Valve regulated lead acid (VRLA) battery is a type of sealed lead acid battery that contains a silica type gel suspending the electrolyte in a paste form. These batteries are packaged in plastic containers and are primarily used for small UPS, inverters, and wheelchairs. Also, these sealed lead acid (SLA) batteries have low maintenance, dependable service, and a low price and are the preferred choice for hospitals and nursing homes. The larger VRLA batteries are used as a power backup for cellular repeater towers, internet hubs, banks, hospitals, and airports.
The report, global valve regulated lead acid batteries market, is part of Technavio’s energy research portfolio. This portfolio provides a comprehensive market analysis along with the market share, market sizing, and market segmentations covering areas such as energy storage, power, oil and gas, smart grid, and waste and waste management. These market research reports provide a perspective on the various market opportunities and market threats along with the key trends that would influence the market growth during the forecast period. It presents insights into the changing competitive landscape and a detailed profiling and market analysis of the vendors. Also covered in the research are the key regions or countries that would have an impact on the market during the assessment years.
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