The advent of hybrid and electric vehicles will initially benefit and then significantly challenge lead-acid battery use in its major use sector.
The global stationary lead acid battery market was valued at USD 9,425.9 million in 2020 and is projected to grow at a CAGR of 4.7%. Increasing dependence on computer technology is driving needs for extremely high-quality power to prevent loss of information, material, and workers' time that represent billions of dollars annually. High expenditure cost has motivated commercial and Federal research and development of energy storage systems to detect and respond to power-quality failures in milliseconds.
Electrochemical batteries are among the storage media under investigation for these systems. Stationary lead acid batteries capture a high share of electrochemical batteries market. Lead acid batteries finds multiple applications ranging from automotive starting/lightning/ignition (SLI) and industrial batteries for motion power, to large stationary batteries for standby-power, including small sealed cells for portable application. Critical power applications demand a highly reliable and cost-effective energy storage technology.
Global stationary lead acid battery market has been segmented on the basis of construction type, application, distribution channel and power range and geography. Construction type is further bifurcated into flooded and sealed. On the basis of application, the market has been segmented into large scale energy storage, uninterruptible power supply and others. On the basis of distribution channel, the market has been segmented into OEM and aftermarket, power range is segmented into 0-100kWh, 100-1000 kWh and above 1000 kWh. Geographically, the market is segmented as North America, Europe, Asia Pacific, South America, Middle East and Africa.
The study also assesses the demand using value chain analysis to highlight the different characteristics of the global stationary lead acid battery industry. Furthermore, the stationary lead acid battery market report covers various qualitative aspects of the industry, such as market restraints, key industry drivers, and opportunities. In addition, the report offers a comprehensive analysis of the competition by company profiles and the competitiveness of local and global vendors.
The extensive series of functions performed by stationary lead acid battery in the food industry is a key driving force for the market. The foremost function contributing to the abundant utilization of the products in the food industry is their capability to bind with water and enhance the properties of food ingredients.
Leading market players are channelizing their efforts in the development of new products and technologies, utilizing advanced methods to manufacture cost-effective products. The companies are also striving to reduce supply chain risk while strictly adhering to the delivery requirements. On account of this, the stationary lead acid battery are gaining consumer confidence across the globe. Globally, the companies are entering into partnerships, agreements, joint ventures, and mergers and acquisitions to strengthen their market share and increasing geographical reach.
Key Segments of the Global Stationary Lead Acid Battery Market
Construction Type Overview, 2018-2028 (USD Million)
Application Overview, 2018-2028 (USD Million)
- Emergency Lighting
- Security systems
- Cable Television/Broadcasting
- Oil & Gas
- Renewable Energy
- Railway Backup System
Distribution Channel Overview, 2018-2028 (USD Million)
- Rest of Europe
- Rest of Asia-Pacific
Middle East and Africa
- South Africa
- Rest of Middle East and Africa
- Rest of South America