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The Southeast Asia - Lead-acid Battery Market size is forecast to increase by USD 1.18 billion, at a CAGR of 6.54% between 2023 and 2028. The report includes historic market data from 2018 - 2022. The market is witnessing a growing demand for increase in demand for lead-acid batteries owing to the rising adoption of microgrids, the growing need for environmentally friendly vehicles, and the upcoming railway projects leading to an increase in demand for lead-acid batteries.
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A key factor shaping the Southeast Asia lead-acid battery market growth is the upcoming railway projects leading to an increase in demand for lead-acid batteries. The railway industry extensively uses lead-acid batteries more than the other types of batteries, due to high power output and low cost. In addition, these batteries are used as starter batteries in rail engines and as a power source in underground trains and suburban railways.
Moreover, they are also used in applications such as powering equipment related to line signaling, street traffic control, emergency lighting and current supply in rolling stocks, and signal and control boxes. In addition, the railway industry of the region in countries such as Singapore, Indonesia, and others is expected to grow at a significant rate due to several ongoing railway projects. Furthermore, such projects and partnerships will lead to a proportional increase in the demand for railway infrastructures, including rolling stocks, rail cars, and other supporting components, and will contribute to the demand for lead-acid batteries, which, in turn, will drive the growth of the Southeast Asia lead-acid battery market during the forecast period.
The FLA batteries segment is estimated to witness significant growth during the forecast period. The FLA batteries segment remains a major technology in the Southeast Asia - lead-acid battery market for a wide range of applications. For example, flooded lead-acid batteries, which are noted for their low cost and dependability, are frequently used in automotive, industrial, and standby power systems. In addition, the region's expanding automotive and industrial sectors, where flooded lead-acid batteries are widely used in automobiles, renewable energy storage, and backup power solutions, are driving the Southeast Asia lead-acid battery market.
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Moreover, brands such as GS Yuasa, Exide, and Century Batteries, for example, produce and supply flooded lead-acid batteries customized to the region's various energy storage requirements. In addition, the flooded method is expected to maintain its dominance because of its proven performance, economic viability, and appropriateness for a wide range of applications in Southeast Asia increasing energy landscape. Hence, such factors are fuelling the growth of this segment which in turn drives the Southeast Asia lead-acid battery market growth during the forecast period.
One of the key factors driving the Southeast Asia lead-acid battery market growth is the significant growth in the automotive market. Automobiles have become a necessity as they enable people to connect with others and facilitate the transportation of goods and services. In addition, the growing population and urbanization in Indonesia have had a positive impact on the development of the transportation industry, which encourages automobile companies to produce more vehicles.
Moreover, the production volume of vehicles depends on their demand among end-users. In addition, cars and buses provide mobility, as well as easy access to education, healthcare, and employment opportunities, among others, to people. Hence, such a significant growth in the demand for motor vehicles in the country will fuel the demand for lead-acid batteries which in turn drives the Southeast Asia lead-acid battery market growth during the forecast period.
Growing competition from fuel cells is one of the key challenges hindering the Southeast Asia lead-acid battery market growth. Fuel cells are a new commercial technology and are gaining popularity due to the efficiency they offer in power generation and low emissions. In addition, fuel cell systems are evolving as promising fuel solutions in the transportation sector and are being widely adopted by material-handling equipment manufacturers and for stationary power applications.
Moreover, fuel cells are devices that directly convert stored chemical energy into electrical energy. In addition, they take chemical energy stored within energy sources such as gasoline, hydrogen, and methane and directly convert it into electricity through an electrochemical reaction. Therefore, due to these characteristics, fuel cells are good substitutes for batteries, including lead-acid batteries. Hence, such factors are hindering the Southeast Asia lead-acid battery market growth 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.
in Southeast Asia Lead-acid Battery Market 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 trak uplift impulse, trak uplift, and trak uplift save.
The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Qualitative and quantitative market research and growth analysis of companies have 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 Southeast Asia lead-acid battery market report forecasts market growth and forecasting and provides an analysis of the latest market growth and trends and growth opportunities from 2018 to 2028.
Southeast Asia Lead-acid Battery Market Scope |
|
Report Coverage |
Details |
Page number |
150 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6.54% |
Market Growth 2024-2028 |
USD 1.18 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
6.08 |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Accumulatorenwerke HOPPECKE Carl Zoellner and Sohn GmbH, ACE Green Recycling Inc., C and D Technologies Inc., Contemporary Amperex Technology Co. Ltd., East Penn Manufacturing Co. Inc., EnerSys, Exide Industries Ltd., Furukawa Electric Co. Ltd., Gravita India Ltd., GS Yuasa International Ltd., Hankook Tire and Technology Co. Ltd., Johnson Controls International Plc, Leoch International Technology Ltd., Narada Asia Pacific Pte. Ltd., Panasonic Holdings Corp., 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, and Market condition analysis for the 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 Type
7 Market Segmentation by Application
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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