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According to the latest report released by Markets and Markets, an international market research institution, the global lead-acid battery market will reach $52.
5 billion by 2024, with a compound annual growth rate of 4.
7%
during the period.
Increasing demand for grid-connected renewable energy generation and expansion of data centers are contributing to the steady growth
of the lead-acid battery market.
Based on battery type, valve-regulated lead-acid batteries (VRLAs) are expected to be the largest segment
during the forecast period.
Compared to conventional lead-acid batteries, valve-regulated lead-acid batteries ensure battery life
with less maintenance.
In future times, these batteries may be superior to traditional flooded lead-acid batteries
due to their various advantages.
In addition, advanced lead-acid batteries have a carbon coating on the anode plate, which eliminates the requirement to
clean lead sulphate deposits on plating.
At the same time, the life of the anode electrode is enhanced, which ultimately increases the overall life
of the battery pack.
It offers benefits
such as fast charging.
This is a significant advantage for advanced lead-acid batteries, as this task
is difficult to achieve with conventional lead-acid batteries.
Although these batteries are heavier and larger than lithium-ion, they are cost-effective, operate efficiently at both low and low temperatures, and do not require active cooling
.
From the perspective of regional market, Asia Pacific will hold the largest market share
during the forecast period.
The presence of large automotive and manufacturing bases in the region will be a key driver for the growth of
the market.
Increasing energy consumption in the region due to rapid industrialization and urbanization is expected to drive the growth of the market during the forecast period
.
According to the latest report released by Markets and Markets, an international market research institution, the global lead-acid battery market will reach $52.
5 billion by 2024, with a compound annual growth rate of 4.
7%
during the period.
Increasing demand for grid-connected renewable energy generation and expansion of data centers are contributing to the steady growth
of the lead-acid battery market.
Based on battery type, valve-regulated lead-acid batteries (VRLAs) are expected to be the largest segment
during the forecast period.
Compared to conventional lead-acid batteries, valve-regulated lead-acid batteries ensure battery life
with less maintenance.
In future times, these batteries may be superior to traditional flooded lead-acid batteries
due to their various advantages.
In addition, advanced lead-acid batteries have a carbon coating on the anode plate, which eliminates the requirement to
clean lead sulphate deposits on plating.
At the same time, the life of the anode electrode is enhanced, which ultimately increases the overall life
of the battery pack.
It offers benefits
such as fast charging.
This is a significant advantage for advanced lead-acid batteries, as this task
is difficult to achieve with conventional lead-acid batteries.
Although these batteries are heavier and larger than lithium-ion, they are cost-effective, operate efficiently at both low and low temperatures, and do not require active cooling
.
From the perspective of regional market, Asia Pacific will hold the largest market share
during the forecast period.
The presence of large automotive and manufacturing bases in the region will be a key driver for the growth of
the market.
Increasing energy consumption in the region due to rapid industrialization and urbanization is expected to drive the growth of the market during the forecast period
.
