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Indonesia & Malaysia Lead Acid Battery Market size was valued at USD 3.5 billion in 2022 and is estimated to expand at 3.2% CAGR from 2023 to 2032. Lead acid battery industry size is set to observe around 2.5% CAGR through 2030. A lead acid battery type of rechargeable battery that contains two electrodes immersed in an electrolyte solution of sulfuric acid. The positive one is composed of lead oxide grains, while the negative electrode is connected to a grid made of metallic lead. The demand for these units will witness an upsurge owing to their widespread utilization in off-grid power generation and the transportation industry.
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Increasing demand from consumer end toward the deployment of efficient and reliable energy storage solutions across a multitude of industries including automotive, telecom, and power utilities will favor the industry scenario. Surging adoption of electric vehicles along with paradigm shift toward environmentally friendly products will accelerate the business outlook. Increasing proportion of renewable energy sources coupled with robust development of smart grid infrastructure will escalate the product penetration.
Report Attribute | Details |
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Base Year: | 2019 |
Indonesia & Malaysia Lead Acid Battery Market Size in 2019: | 1.2 Billion (USD) |
Forecast Period: | 2020 to 2026 |
Forecast Period 2020 to 2026 CAGR: | 7.9% |
2026 Value Projection: | 20 Million Units |
Historical Data for: | 2015 to 2019 |
No. of Pages: | 180 |
Tables, Charts & Figures: | 239 |
Segments covered: | Application, Construction, Sales Channel |
Growth Drivers: |
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Pitfalls & Challenges: |
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The global economy has been severely impacted by an unforeseen outbreak of the novel coronavirus. The pandemic has delayed a wide number of projects including manufacturing of lead acid batteries owing to the large scale disruption in supply chains and mining of raw materials which has significantly impacted the business growth. However, increasing demand for these units from healthcare and automobile sector has driven the industry outlook.
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The Indonesia & Malaysia lead acid battery market from stationary application holds over 20% revenue share in 2022, due to increasing demand for UPS systems along with surging demand for uninterrupted power supply across various areas. The growth of the data center industry coupled with increasing number of power outages will positively sway the business outlook.
The industry is set to witness an appreciable momentum owing to emergence of electric vehicles and hybrid electric vehicles. Wide scale utilization of these units in start-stop systems coupled with increasing demand from the industrial sector will foster the business landscape. The increasing demand for backup power in commercial facilities including hospitals and other critical facilities will augment the industry dynamics.
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The flooded lead acid battery market size accounted for USD 2.5 billion in 2022, owing to increasing applicability across telecommunications, computer systems, golf carts and forklifts. Increasing demand for replacing existing batteries along with increasing investments across the industrial sector will institute a favorable industry scenario.
Shifting focus toward sealed lead-acid batteries owing to its key benefits including longer lifespan, lower maintenance costs, and reduced risk of spills will drive the VRLA battery market. These units are widely deployed for energy storage applications including solar and wind power systems, accelerating the industry potential.
The aftermarket segment in Indonesia & Malaysia lead acid battery industry is set to surpass USD 3.2 billion by 2032. It is primarily deployed across a wide tandem of applications including automobiles, motorcycles and UPS. Additionally, ongoing research & development programs aimed at reducing the costs and environmental impact of these batteries will support the industry growth.
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The Indonesia lead acid battery market will register 2.8% CAGR till 2032. Flourishing automobile sector in line with increasing emphasis on environmental sustainability. The increasing demand for these units from telecommunication, UPS, inverters, and controls & switchgears amongst others will escalate the business outlook. The continued investment in the industry favored by the introduction of several legislative ventures is set to drive the industry potential.
The notable players operating in the Indonesia & Malaysia lead acid battery market include :
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Market, By Application
Market, By Construction
Market, By Sales Channel
The above information has been provided for the following countries: