New York, NY -- (SBWIRE) -- 08/10/2017 -- The global market for lead acid batteries has recorded the returns of around US$ 46.8 Bn in 2015, which is likely to uplift by 2016-end. Lead batteries use in transportation industry are estimated to gain highest sales revenues, Asia- Pacific (APAC) will continue leading as the largest market poised to consume utmost consumption of the lead acid batteries.

Rising trend and the popularity of electric bikes generates discernible level of demand for low maintenance batteries on a global level, in most of the developed regions. As per resource estimation demand for lead acid battery on a global level will be the cause of consumption of lead acid batteries by manufacturers of two-wheelers, passenger cars, heavy transportation vehicles, and commercial carriers. Such leads are expected to sustain the demand of lead batteries in the globe.

Increased industrialization and urbanization in western countries fuels the need of UPS (Uninterruptable Power Supply). However, leads to increased vehicle pollution in overall regions.

Use of electronic vehicles banns the emission of pollutants in the atmosphere. Such factors are foresee to remain a key factors influencing upward market growth for lead acid battery market.

Another influencing factor affecting the market growth is an expansion of consumer electronics market.

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Growing demands of consumers for extended battery backup will further add to the low maintenance battery market. Developing markets such as China, India and other economically developing countries have been planning to enter in low maintenance battery segment since decade. That also another major driver for escalation of lead acid battery market growth. Technological advancements in high tech vehicles demand increased power supply for their operation, the example is hybrid vehicles, battery- operated vehicles or electric vehicle will be some more rigid factors affecting the lead acid battery growth. Inventions such as low maintenance battery have been roaming in the market since the recent past which is expected to accelerate the market growth.

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Highly volatile raw material prices and growing lead emission standards may obstruct the market growth. However, relatively higher battery weight and low energy density will remain challenges for widespread adoption.

Below is the six segment application wise classification of Global lead acid battery market: Transportation, Motive industrial, Stationary industrial, Commercial, Residential and Grid storage. Out of all the transportation is major segment and expected to remain dominant over 2015- 2020 –end which is estimated to account for utmost revenues through 2020. The stationary industrial which is the second largest segment will account over 18% share of total market revenues. Through 2015 -2020 this segment is expected to record noteworthy growth at a CAGR of 8.6%.Eventhough the grid storage being small of the others segment, it is projected to witness exponential growth during this period. The growing adoption of lead battery in developing economies for grid storage application will attribute the foresaid growth.

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Through overall global lead acid battery market APAC is projected to remain a major revenue holder and expected possible surpass the value of US$ 24.0 Bn. by 2020. Europe is expected to record the market share of around 24% through 2017-2020-end with over 24% market share. However Europe will expand at higher CAGR compared to APAC region.

EnerSys, Johnson Controls Inc., Exide Technologies, and GS Yuasa Corporation are a few of the key players operating in the global lead acid battery market.

Long-term Outlook:  The global lead acid battery market is likely to hit a value worth US$ 58.55 Bn. with the estimated CAGR over 2014-2020 is 4.6%.by 2020.