Lead Acid Battery Market Revenue is Expected to Reach US$58,552 Mn by 2020
Verfasser: pradnya_86 on Wednesday, 6 September 2017Future Market Insights, in its latest report titled, “Global Lead Acid Battery Market Analysis and Opportunities Assessment, 2014-2020”, states that the global lead acid battery market accounted for US$44,689 Mn. in 2014, and is expected to reach US$58,552 Mn. at a CAGR of 4.6% during the forecast period. Asia Pacific, which accounted for the major chunk in the global lead acid battery market, is expected grow at an estimated CAGR of 4.5% during the forecast period.
By application type, the global lead acid battery market is segmented as transportation, stationary industrial, motive industrial, stationary industrial, commercial, residential and grid storage. Transportation and stationary industrial collectively contributed to around 77.9% of market revenue in 2014. Transportation was the largest end-use application in the global lead acid battery market in 2014, and is anticipated to continue its dominance through 2020. Stationary industrial is the second largest contributor to the global lead acid battery market, and is expected to register the fastest CAGR of 8.6% during the forecast period.
The report finds that grid storage is one of the smallest end-use application segments in the global lead acid battery market, but is anticipated to register a robust CAGR of 7.3% during the forecast period.