Lead Acid Battery Market Size & Trend Analysis By Product (SLI, Stationary, Motive), By

NEW YORK, Feb. 27, 2017 /PRNewswire/ — The global lead acid battery market is expected to reach USD 84.46 billion by 2025, according to a new report by Grand View Research, Inc. Expansion of the automotive industry in China, India, Brazil, Mexico, South Africa, Indonesia, and Germany is anticipated to drive industry growth. Furthermore, increasing utilization of energy storage systems and UPS in industries including mining, oil & gas, nuclear power, electricity generation, gas turbine, construction, hospitality, banking, manufacturing, and off-grid renewable is anticipated to drive lead acid battery demand over the forecast period.

Electric bikes are expected to witness growth at a CAGR of 6% from 2016 to 2025 owing to zero carbon emission and low-cost mobility. Increasing prices of gasoline and diesel fuels are expected to attract more consumers towards using these environment-friendly e-bikes. Furthermore, rising population and traffic congestion are expected to fuel the demand for e-bikes, which, in turn, is likely to boost industry growth over the upcoming years.

Further key findings from the report suggest:

Motive power accounted for 24.1% of market share in 2015. These batteries are used in industrial applications including forklifts, golf carts, railroads, and mining vehicles. Increasing requirement for transport vehicles and forklifts mainly in India and China on account of rapid industrialization is expected to propel demand.

Telecom sector was the second largest application industry and is projected to grow at a CAGR of 5% from 2016 to 2025. The need for efficient management of wireless connections coupled with continuous maintenance of security levels is anticipated to stimulate the demand for lead acid batteries in the telecom industry.

Europe accounted for 24.7% of the global market share in 2015 and is expected to foresee substantial growth over the next nine years. Widespread production of automobiles in countries including

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