Indonesia & Malaysia Lead Acid Battery Market Analysis

Indonesia & Malaysia Lead Acid Battery Market Analysis

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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.

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.

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.