Lead acid battery refers to a device that facilitates the electrochemical reaction between lead and sulfuric acid to generate electrical energy. It consists of a negative electrode of lead and a positive electrode of lead oxide submerged in an electrolyte of sulphuric acid. Flooded, absorbent glass matt (AGM) sealed, gel sealed, deep cycle, hybrid, and standby are some common product types. Lead acid batteries are durable, cost-effective, and reliable and offer good performance at low and high temperatures. On account of these properties, they are widely used in emergency lighting, power storage, electric motors, consumer electronics, ignition, electric vehicles, boats, solar systems, and stationary industrial applications. Currently, it finds extensive usage across the automotive, healthcare, telecommunication, and marine industries.
The significant growth in the automotive industry is one of the key factors creating a positive outlook for the market. Lead acid batteries are widely used for starting, lighting, and ignition (SLI) applications in various automobiles, such as passenger cars, two-wheelers, and commercial vehicles. In addition to this, the widespread product utilization in hybrid and electric vehicles (H/EVs) to store charge and power the electric traction motor is acting as another growth-inducing factor. Furthermore, rising product demand for efficient energy storage in various renewable energy power plants, such as wind, solar, hydropower, and bioenergy, is providing an impetus to the market growth. Apart from this, increasing demand for lead acid batteries in the telecommunication industry as a power backup system to avoid losses and ensure smooth operations of devices, appliances, and stations is propelling the market growth. Additionally, the introduction of an advanced lead acid battery that uses silicon joule bipolar technology to improve power density with better cycle life, offer dynamic charge acceptance, provide a wider temperature range, and reduce overall weight is positively influencing the market growth. Other factors, including the implementation of various government initiatives promoting clean energy, the widespread product utilization in the marine industry, and increasing application in consumer electronics, are anticipated to drive the market growth.
The report provides a techno-commercial roadmap for setting up an lead acid battery manufacturing plant. The study covers all the requisite aspects that one needs to know while making a foray into the lead acid battery industry. This ranges from macro overview of the market to micro details of the industry performance, key success and risk factors, manufacturing requirements, project cost, project economics, expected returns on investment, profit margins, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake in the lead acid battery industry.
The project report covers the following aspects of the lead acid battery market:
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