OCT 12 2020: The U.S. lead acid battery market size is expected to reach USD 14.4 billion by 2025, according to a new report by Grand View Research, Inc., registering a 5.3% CAGR over the forecast period. Growing demand for uninterruptible power supply or uninterruptible power source (UPS) systems in sectors such as oil and gas, healthcare, and chemical will drive market demand.
Robust manufacturing base and rapid growth of the automotive industry in the U.S. will augment demand for vehicle production and this will drive the demand for lead acid battery over the upcoming years. Hybrid and electric vehicles will witness growth on account of ongoing trend of substituting fuel with electric batteries. In addition, the government’s stringent regulations on emission norms in order to safeguard the environment and reduce degradation-based options are expected to play a critical role in shaping the overall battery market.
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Lead acid battery manufacturing has witnessed significant technology upgradations during the past few years. These trends have resulted in substantial reduction in manufacturing cost of lead acid batteries. Carbon black additives are used in lead acid and expanders as they aid in high power delivery and energy density. Moreover, these additives enable battery developers to extract high efficiency and enhance the life cycle of batteries.
The UPS market is expected to witness substantial growth over the next few years, which can be attributed to growing demand for high power range systems. Increasing trend toward the adoption of UPS systems as an essential power-back up device is expected to favorably impact product demand over the forecast period.
Industrial power, including chemical, shipping, metal, and mining, is the most significant application for lead acid batteries, owing to rapid industrialization in the country. Large manufacturing base of chemical companies, along with presence of multinationals like Bayer, BASF, Dow Chemical, and AkzoNobel, will increase industry penetration over the forecast period.
Moreover, presence of large steel manufacturers such as Hebei Iron & Steel Group, Baosteel Group Corp, WISCO, Jiangsu Shagang Group, Shougang Group, Anshan Iron & Steel Group, Shandong Iron & Steel Group, Maanshan Iron & Steel Co., Bohai Iron & Steel Group, and Valin Group will aid market penetration.
Various companies use these batteries on account of their low cost, high overcharge tolerance, high discharge rates, and low self-discharge. Leading end users include BMW, Toyota, Renault, Daimler, Tesla Motors, Hyundai, GM, Riello UPS, and EAPRO Global Limited. Lead acid batteries can undergo smelting process in order to be recycled and reused.
Further Key Findings from the Report Suggest:
• U.S. lead acid battery market was valued at over USD 9.9 billion in 2018, registering a CARG of 5.3% over the projected period
• Lead acid battery is 99% recyclable and is required to meet the Hazardous Waste Recycling Regulations by the U.S. EPA. Carbon black additives improve mechanical properties and have excellent dispersion in both solvent and aqueous slurries. Carbon black additives are used in positive and negative electrode to increase the electrode’s electrical conductivity
• In 2018, the U.S. exported 1.8 million lightweight vehicles and 131.2 thousand medium and heavy trucks to various countries globally, creating demand for automotive production, thus propelling the utilization of lead acid batteries
• Starting, Lighting and Ignition (SLI) was the largest product segment in 2018 and accounted for 50.2% of the market revenue in 2018
• Based on construction, the flooded lead acid battery segment was the largest in 2018 and accounted for just under 60.0% of the market revenue
• Some of the significant industry participants are EnerSys, C&D Technologies, East Penn Manufacturing, Crown Battery, NorthStar, Johnson Controls, B.B. Battery, Panasonic Corporation, Exide Technologies, and CSB Battery Co., Ltd. (Acquired by Hitachi Chemical Co., Ltd.).
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Table of Contents
Chapter 1 Methodology and Scope
1.1 Market Segmentation & Scope
1.2 Information Procurement
1.2.1 Purchased Database
1.2.2 GVR Internal Database
1.2.3 Secondary Source & Third-Party Perspectives
1.2.4 Primary Research
1.3 Information Analysis
1.3.1 Data analysis models
1.4 Market Formulation & Data Visualization
1.5 Data Validation & Publishing
1.6 Research Scope & Assumptions
1.7 List of Data Sources
Chapter 2 Executive Summary
2.1 Market Summary
2.2 Segmental Outlook
2.3 Competitive Insights
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