Lead Acid Battery Market, by Product Type (SLI Lead Acid Battery, Stationary Lead Acid Battery, and Motive Lead Acid Battery), by Construction Method (Flooded Lead Acid Battery, VRLA Lead Acid Battery), by End-Use (Industrial, Commercial, and Residential), and by Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Size, Share, Outlook, and Opportunity Analysis, 2022 - 2030
Lead acid uses sulfuric acid and lead electrodes to store electrical energy. The qualities such as low maintenance cost, durability, and reliability makes lead acid batteries more desirable as compared to other substitutes, such as zinc-carbon battery and lithium-ion batteries.
Market Dynamics
Asia Pacific is the largest market and is expected to dominate the market during the forecast period. The rising disposable income coupled with the growth in the automotive and telecom sector are the major reason fuelling the market growth of lead acid batteries. According to China Association of automobile manufacturers (CAAM), China witnessed a sale of around 2,167,000 cars in July 2017.
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