Future Market Insights predicts positive growth in the global lead-acid battery market through to 2032, its planning horizon. The compound average growth rate will 5.2% per annum it says, suggesting a solid future for the tried-and-trusted technology. This is in line with strong growth in the electronic gadgets market, according to Future Market Insights again.
U.S. Set to Follow Global Lead-Acid Battery Market Lead
The post on Global Newswire continues by predicting a U.S. lead-acid battery CAGR of above 4.5% during the review period. By way of interesting comparison, it says China is likely to command over 57% of the East Asia battery market through the same time.
Therefore it seems evident lead-acid batteries will continue to be ‘amongst the most sought-after batteries around the world’. And that these developments will include ‘automotive ignition, lighting, and starting, UPS, emergency power for electrical installation, and submarine standby’.
Moreover, demand for electric vehicles continues to find new peaks, while the uninterrupted power market remains lively. These factors are driving lithium-ion prices higher, as it seems increasingly possible demand will exceed supply.
These Factors Set to Take Lead-Acid to a ‘New High’
Future Market Insight’s global lead-acid battery market future view concludes, ‘these factors are bound to take the lead-acid battery market to a new high’. The raw materials are in more abundant supply, while the product’s low cost and reliability are legendary.
However, it notes that weight, relatively low weight-to-energy ratio, and low specific energy continue to encourage competition. Although lead-acid is still firmly in the lead when it comes to material recycling for fresh purposes.
Lead-acid technology has been with us for over a century. Its simple strength lies in the fact it comprises two lead plates, in a bath of dilute sulfuric acid. The review concludes ‘with electric vehicle production being on the rise, the global lead acid batteries market is likely to grow, on an astounding note going forward’.
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