Enjoy complimentary customisation on priority with our Enterprise License!
As per the Technavio’s market research report, the global lead-acid battery aftermarket is expected to grow moderately and post a CAGR of more than 14% during the forecast period. The growing number of investments in green telecom will drive the growth prospects for the global lead-acid battery aftermarket until the end of 2021. Companies such as Eaton are taking efforts to integrate clean fuel-cell backup power solutions and generator start-up optimization software and integrate smart grids with their existing product portfolio to reduce the carbon footprint. The growing demand for providing green energy in the telecom sector is encouraging more investments and funding for research and developmental activities on batteries. As a result, the telecom power system manufacturers are expanding their product portfolio with green telecom power systems, which, in turn, will create the demand for lead-acid batteries.
The rise in adoption of renewable hybrid power systems in telecom towers will drive the growth prospects for the global lead-acid battery aftermarket during the projected period. The growing adoption rate of renewable hybrid power systems to solve the problem of electricity imbalances in remote locations will boost the demand for battery energy storage, which will further drive the market’s growth.
The global lead-acid battery aftermarket is highly competitive and appears to be fragmented due to the presence of many global and regional vendors. Intense competition, rapid advances in technology, frequent changes in government policies, and environmental regulations are some of the key factors that challenge the growth of these vendors. Also, a continuous demand for upgrades and innovations, changing preferences, and the rising preference for advanced battery technologies will also make it difficult for vendors to survive the market competition. The new and existing vendors are increasingly focusing on effectively improving their sales, distribution, and working capital to sustain the competition and improve revenue shares.
Key vendors in this market are -
Other prominent vendors in the market include Alpha Technologies, Amara Raja, BAE Batterien, C&D Technologies, Crown Battery, DAEJIN BATTERY, DMS technologies, EverExceed, Exide Industries, HBL Power Systems, HOPPECKE Batterien, Microtex Energy, MIDAC Batteries, Navitas System, NorthStar, Panasonic Battery, Rolls Battery, Storage Battery Systems, Su-Kam Power Systems, Trojan Battery Company, West Marine, and Yokohama Trading.
The automotive segment accounted for the majority market share during 2016 and is estimated to continue its domination till the end of the forecast period as well. Factors such as the growth in economy, rising disposable incomes, and increasing traffic that influence the growth of the two-wheeler market in China, will be a major factor propeling the growth of lead-acid battery aftermarket in the automotive sector.
APAC was the largest revenue contributor to the global lead-acid battery aftermarket during 2016 and will continue to lead the market during the forecast period. The region is experiencing a high demand for lead-acid batteries from the telecom, data centers, and automotive industries and also from the developing countries such as China and India due to the availability of lower-priced batteries offered by local manufacturers. With the rising penetration of smartphones and the rapid growth in rural subscribers, the lead-acid battery market in this region will post considerable growth in the next few years.
Technavio also offers customization on reports based on specific client requirement.
PART 01: Executive summary
PART 02: Scope of the report
PART 03: Research Methodology
PART 04: Introduction
PART 05: Market segmentation by application
PART 06: Geographical segmentation
PART 07: Decision framework
PART 08: Drivers and challenges
PART 09: Market trends
PART 10: Vendor landscape
PART 11: Key vendor analysis
PART 12: Appendix
Tags: battery manufacturers, car battery, solar power batteries, solar energy storage, energy storage market research, energy market research,
Get lifetime access to our
Technavio Insights
Quick Report Overview:
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.