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Lead Acid Battery Market Size

Report ID: GMI2765
Published Date: Jan 2024
Report Format: PDF

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Lead Acid Battery Market Size

Lead Acid Battery Market size in 2023 was valued at USD 95.9 billion and is estimated to grow at 3.1% CAGR by 2034. These units play a crucial role in backup power applications for data centers, telecom, and critical infrastructure. For instance, the number of data centers across the U.S. crossed a mark of 5,000 in 2023.

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Lead acid batteries are preferred by the consumers as these units are significantly cheaper than available alternatives, making them the preferred choice for budget conscious. Declining battery costs along with increasing frequency of power outages, is projected to unlock lucrative growth opportunities for the industry.

Lead Acid Battery Market Report Attributes
Report Attribute	Details
Base Year:	2023
Lead Acid Battery Market Size in 2023:	USD 95.9 Billion
Forecast Period:	2024 to 2034
Forecast Period 2024 to 2034 CAGR:	3.1%
2034 Value Projection:	USD 133.6 Billion
Historical Data for:	2019 to 2023
No. of Pages:	650
Tables, Charts & Figures:	1,753
Segments covered:	Application, Construction, Sales Channel
Growth Drivers:	Global Cost competitive solution for energy storage North America & Europe Robust expansion of datacentres Increasing demand for uninterrupted power supply Asia Pacific Burgeoning expansion in the automotive industry Rapid technological advancement in the telecom sector Middle East, Africa & Latin America Declining battery costs
Pitfalls & Challenges:	Increasing penetration of alternative lithium-ion batteries Stringent government regulations

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Lead acid battery is a type of rechargeable battery that uses lead plates and an electrolyte solution to store and release electrical energy. When charged, lead is oxidized and lead dioxide is reduced, creating a potential difference. When discharged, the reverse happens, generating electricity. These batteries are known for their durability and their ability to provide high bursts of power.

Authors: Ankit Gupta, Shubham Chaudhary

Frequently Asked Questions (FAQ) :

Lead acid battery industry reached USD 95.9 billion in 2023 and is poised to expand at 3.1% CAGR through 2034 attributed to the increasing usage in backup power applications for data centers, telecom, and critical infrastructure.

VRLA lead acid battery industry is estimated to grow at 3.3% CAGR from 2024-2034 attributed to the advantages of products, such as reduced electrolyte evaporation, spillage, and higher resistance to temperature.

Europe lead acid battery industry was worth USD 15.6 billion in revenue in 2023 and is estimated to exhibit robust growth through 2034 owing to the significant growth of the automobile production and favorable government policies to reinforce the domestic manufacturing capacity.

Some of the lead acid battery companies are Clarios, GS Yuasa International Ltd., East Penn Manufacturing Company, B.B. Battery, HOPPECKE Battery GmbH & Co. KG., Furukawa Battery Co., Ltd., First National Battery, Shandong Sacred Sun Power Sources Co. Ltd., Middle East Battery Company, Exide Industries Limited, Amara Raja Group, and NorthStar Battery Company, many others.