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The lead-acid battery market size is forecast to increase by USD 70.33 million and is estimated to grow at a CAGR of 3.35% between 2023 and 2027. The report includes historic market data from 2017 - 2021. The growth of the market depends on several factors such as the growth in the automotive market, the increase in demand for industrial applications, and the change in the energy mix.
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The upcoming railway projects are a key trend in the Indonesia - lead-acid battery market??????. Due to their higher power yield and low costs, the railway industry is using lead-acid batteries over other types of batteries. These batteries are used as starter batteries in rail engines and as a power source in underground trains and suburban railways.
Additionally, the members of the Indonesian railway industry are partnering and cooperating with global companies for the transfer of technology and to improve the country's role in the global supply chain. Projects and partnerships like these will cause an increase in demand for railway infrastructure, including rolling stocks, rail cars, and other supporting components, and will contribute to the demand for lead-acid batteries during the forecast period.
The automotive segment is estimated to witness significant growth during the forecast period. The automotive segment includes lead-acid batteries (both OEM and replacement lead-acid batteries) that are used in passenger cars, including both ICE vehicles and EVs, commercial vehicles, and two-wheelers. The automotive industry requires lead-acid batteries for SLI in ICE vehicles and start/stop applications, EVs require power for functions beyond propulsion power.
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With the availability of critical raw materials needed to manufacture lithium-ion batteries used in electric vehicles, Indonesia is becoming an important EV producer. The majority of EVs use lead-acid batteries for SLI applications; some EVs use deep-cycle lead-acid batteries to provide propulsion power. Increasing the spending power of the population and low fuel prices are the key factors that will drive the growth.
The change in the energy mix is driving growth in the Indonesia lead-acid battery market. In Indonesia, economic development and the growing population have led to an increase in electricity demand and consumption. This increase in GHG emissions is compelling the government to focus on sustainable and renewable energy resources such as biomass, wind, and solar.
Moreover, the addition of renewable sources into the energy mix has driven the requirement for flexible power systems with renewable energy, such as solar PVs, to manage the unstable nature of power generation. The changing energy mix will drive the demand for lead-acid batteries for energy storage applications in Indonesia during the forecast period.
The decline in lithium-ion battery cost is a major challenge faced by the Indonesia lead-acid battery market. Due to the growing adoption in the automotive industry, as well as for energy storage applications the market for lithium batteries in Indonesia has seen a growth. Lithium-ion batteries offer several advantages over lead-acid, such as higher current density, longer power-holding capacity, and longer shelf life, which make them more preferable among the end-users.
Moreover, as lithium-ion batteries account for a major share of the cost structure of the end products, a decline in their prices will lower the total cost of ownership of the end products. The improved capabilities of lithium-ion batteries have resulted in cost savings, which will boost the sales of these batteries and, subsequently, hamper the growth of the Indonesia - Lead-Acid Battery Market during the forecast period.
The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Lead-Acid Battery Market in Indonesia Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Accumulatorenwerke HOPPECKE Carl Zoellner and Sohn GmbH- The company offers lead acid batteries such as Xtreme VR pure lead battery, suitable for use in harsh environmental conditions.
The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The lead-acid battery market in Indonesia report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Lead-Acid Battery Market In Indonesia Scope |
|
Report Coverage |
Details |
Page number |
119 |
Base year |
2022 |
Historic period |
2017 - 2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 3.35% |
Market growth 2023-2027 |
USD 70.33 million |
Market structure |
Concentrated |
YoY growth 2022-2023(%) |
3.11 |
Regional analysis |
Indonesia |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Accumulatorenwerke HOPPECKE Carl Zoellner and Sohn GmbH, C and D Technologies Inc., EnerSys, Furukawa Electric Co. Ltd., GS Yuasa International Ltd., Guangdong Yuasa Battery Co. Ltd., PT Century Batteries Indonesia, PT New Indobatt Energy Nusantara, PT Selatan Jadi Jaya, PT. Tri Mega Baterindo, and PT. Trimitra Baterai Prakasa |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Type
8 Customer Landscape
9 Drivers, Challenges, and Trends
10 Vendor Landscape
11 Vendor Analysis
12 Appendix
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