The demand for passenger vehicles has increased considerably and is set to grow further in the coming years. Therefore, the production of vehicles has increased due to the rise in demand for automobiles. This has resulted in the rise of lead acid battery manufacturing, thereby driving the growth of the Africa lead acid batteries market.
Albany, NY -- (SBWIRE) -- 01/07/2016 -- This market research study analyzes the lead acid battery market on African regions and provides estimates in terms of revenue (USD million) from 2015 to 2021. It identifies the drivers and restraints affecting the industry and analyzes their impact over the forecast period. Moreover, it highlights the significant opportunities for market growth in the next six years.
Due to the trend of rapid globalization and industrialization in countries across the globe, lead acid batteries are increasingly finding application in numerous areas and devices. Increasing requirement for UPS systems in corporate offices, industries, research and educational institutes, and homes is driving the demand for lead acid batteries. In addition rising demand for electric and hybrid vehicles, which use lead acid batteries is also set to bolster the growth of the lead acid battery market in Africa, during the forecast period. Moreover, installation of telecom towers and renewable energy systems, setting up of smart grid projects, and implementation of vehicle charging systems are all set to drive the market for lead acid batteries in the region.
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Lead acid batteries have been used in a wide range of products for over 150 years; since 1860, they have been considered reliable and safe energy storage devices. The batteries have voltage specifications of 12V and 24V, with 2V batteries assembled in a circuit. It comprises of a cathode (lead), an anode (lead dioxide), water in a specific quantity, and an electrolyte (sulfuric acid). Lead acid batteries play a significant role in the automotive and lighting sectors. In addition, such batteries find application in electric vehicles, medical equipment, and uninterruptible power supply (UPS) systems. Due to the increasing requirement for UPS systems and inverters in homes and the industrial, corporate, and research and education sectors, lead acid batteries are witnessing immense demand. The use of UPS systems and inverters is complementary to that of lead acid batteries. All UPS systems and inverters require batteries to function and lead acid batteries are among the most efficient energy storage sources for such devices. Their low cost and reliability are set to increase the demand of these batteries in the coming years, in Africa.
The Africa lead acid battery market is set to surge in the coming years. The increasing production of automobiles and motorcycles, and the growing application of such batteries in industrial sectors such as healthcare, chemical, and oil &gas, have spurred the growth of the lead acid battery market in the region. In addition, the low cost and improved performance of lead acid batteries are fueling the growth of the market. Due to competition from lithium-ion batteries and the rising demand for low-cost, efficient batteries, lead acid battery manufacturers are focused on research and development activities in order to meet such demands and sustain themselves against competition in the global battery market.
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The market is segmented on the basis of countries in Africa into Nigeria, Egypt, South Africa, Kenya, Ghana, Zimbabwe and Rest of the Africa and these segments have been estimated in terms of revenue (USD million). In addition, the report has been segmented based on types, which includes Engine Starting, Motive Power, Standby Power, Valve regulated lead acid battery. Apart from this, the report is also being segmented by application that includes Industrial, Automobile, Commercial, Residential and Power.
For better understanding of the lead acid battery market, the study comprises market attractiveness analysis, where the applications are benchmarked based on their market scope, growth rate and market attractiveness.
The report also provides company market share analysis of the various industry participants. Key players have been profiled and their company overview, financial overview, business strategies, SWOT analysis, and recent developments have been covered in the report. Major market participants profiled in this report include Enersys, Exide Technology, Johnson Controls Inc., Dixon batteries among others.
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