The credit for inventing lead acid battery goes to Gaston Planté, who first demonstrated a working model to the French Academy of Sciences in 1860. Since then, there have been numerous innovations in the manufacture of lead acid batteries, and today, they are widely used for SLI (starting, lighting and ignition) in automotives.
The host of advantages that lead acid batteries offer make them an ideal choice for use in the automotive industry. Their applications in the uninterruptible power supplies (UPS) is another factor that has contributed to the growth of the lead acid battery market over the years.
Concerns Regarding Environmental Pollution have Restrained the Lead Acid Battery Market
Many vendors in developing countries buy used lead acid battery (ULAB) in bulk in order to recover lead from them. Recycling lead acid batteries is a profitable business, however, lack of pollution control equipment means that the health of workers and general public is put at risk. Although recycling of lead acid batteries helps reduce the volume of lead dumped in the environment, lack of safety protocols in developing countries is a challenge that needs to be addressed.
Although concerns over environmental degradation have meant that lead acid battery manufacturers and recyclers have to follow stringent guidelines, the low cost, coupled with the long shelf life makes lead acid batteries an appealing choice for end-use applications. Another reason for the high demand for lead acid batteries is the fact that these batteries can be recharged numerous times before they cease to be effective.
Outlook on Lead Acid Battery Market
Due to the above-mentioned factors, the lead acid battery market in the emerging economies has grown steadily in the recent past, and it is anticipated that it will witness healthy growth in the future as well. The collective worth of the lead acid battery market in Asia Pacific, Latin America, Middle East & Africa, and Japan is anticipated to be worth US$ 32 billion (approximately) by 2020. According to Future Market Insights’ market research report on the target regions lead acid battery market, it is projected that the market will witness a CAGR of over 4% through 2020.
Application Analysis of Lead Acid Battery Market in Asia Pacific, Japan, Latin America, and Middle East & Africa
The demand for lead acid batteries in target regions is mainly on account of demand from the transportation and stationary industrial segment. These two segments collectively accounted for over 80% of market revenues in 2014, and it is projected that these will expand at a healthy rate in the future as well. According to FMI’s projection, stationary industrial application will expand at a CAGR of over 8% through 2020.
Region-wise Analysis of Lead Acid Battery Market in Asia Pacific, Japan, Latin America, and Middle East & Africa
Among the target regions, the demand for lead acid batteries is particularly strong in Asia Pacific. The Asia Pacific lead acid battery market had a share of over 60% in 2014, and it is projected that it will be worth US$ 20 billion by 2020. Latin America and Japan had a market share of close to 14% each in 2014. On the other hand, demand for lead acid batteries was moderate in Middle East & Africa in 2014; however, according to Future Market Insights’ forecast, the market in this region will witness a healthy CAGR of approximately 5% through the forecast period. The key players active in these target regions include GS Yuasa Corporation, Exide Technologies, Johnson Controls INC, EnerSys and Yokohama Industries.
Browse Full: "Lead Acid Battery Market: Asia Pacific, Latin America, Japan, Middle East & Africa Industry Analysis and Opportunity Assessment 2014 - 2020" Market Research Report at http://www.futuremarketinsights.com/reports/details/lead-acid-battery-market
