China Stationary Lead Acid Battery Market Size, Share & Trends Analysis Report By Applications (Telecommunication, Transportation Infrastructure, Building, Utilities, Oil & Gas, Off-grid Renewable), And Segment Forecasts, 2023 - 2030

China Stationary Lead Acid Battery Market Size, Share & Trends Analysis Report By Applications (Telecommunication, Transportation Infrastructure, Building, Utilities, Oil & Gas, Off-grid Renewable), And Segment Forecasts, 2023 - 2030

China Stationary Lead Acid Battery Market Growth & Trends

The China stationary lead acid battery market size is expected to reach USD 4.37 billion by 2030, registering a CAGR of 2.9% over the forecast period, according to a new report by Grand View Research, Inc. Increased demand for lead acid battery due to the high consumption of power & electricity and various amenities which includes UPS and telecom in China are major growth factors for the stationary lead acid battery market. Chinese automotive market is growing at a faster rate than other developed regions and is heading towards the use of lead-acid batteries. This trend is expected to continue on account of the growing automotive sector in China. Moreover, the prevalence of big battery manufacturers in the region will fuel market expansion.

Buildings and grid storage are expected to witness significant growth on account of various factors including industrialization, urbanization, and increased disposable income in the developing countries coupled with favorable regulations to attract investments is expected to augment the growth of the market during the forecast period.

There are reputable local and international players in the Chinese stationary lead acid battery market. Some of these players have a lengthy history on the market. Due to the intense competition in the market, the majority of players are concentrating on how to set themselves apart from the competition. For product manufacturers, creating extremely effective sales channels is yet another crucial element.

China Stationary Lead Acid Battery Market Report Highlights

• In 2022, telecommunication emerged as the largest application segment and accounted for a revenue share of 52.18% owing to the growing telecom sector in China
• One of the main factors propelling market growth is the rising demand for stationary lead acid batteries from the automotive industry. Another factor boosting market growth is the rising demand for industrial batteries to power homes, buildings, and machinery & equipment at construction sites
• The stationary lead acid battery industry in China is a mature market and is anticipated to expand at a CAGR of 2.9% over the forecast period. Over the next few years, the growth is anticipated to be driven by rapid industrialization and an increase in the number of manufacturing facilities. Over the coming years, several factors such as increased warehouse space, booming e-commerce sector, high forklift truck replacement demand, and rising investment by companies in China