According to the TMR report, the Africa lead acid batteries market is expected to have a valuation of more than US$1 bn by 2021. The market was worth US$708.6 mn in 2014 and is expected to exhibit a 5.3% CAGR from 2015 to 2021.
Albany, NY -- (SBWIRE) -- 12/13/2016 -- A research report on the Africa market for lead acid batteries has been recently published by Transparency Market Research (TMR), stating that the market for lead acid batteries in Africa stood at US$708.6 mn in 2014. Further, it estimates the market to register a healthy CAGR of 5.3% over the period from 2015 to 2021 and reach a value of US$1,014 mn by the end of the forecast period.
The market report, titled "Lead Acid Battery Market - Africa Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2021", offers a comprehensive analysis of the Africa lead acid battery market on the basis of significant market verticals.
The research report states that the rapid rise in the automotive industry in Africa has propelled the demand for lead acid batteries in this region. The increasing penetration of UPS systems and inverters across various industries is also fueling the demand for lead acid batteries, thereby boosting the market for lead acid batteries in Africa.According to the research report, the Africa market for lead acid batteries is spread across South Africa, Nigeria, Egypt, Ghana, Kenya, Zimbabwe, and the Rest of the Africa. The industrial, residential, commercial, automotive, and power sectors are the key end users of lead acid battery across Africa.
In 2014, the demand for lead acid batteries in Africa was the highest from the automotive industry. It accounted for a share of 60.4% in the overall revenue generated. The low cost, strength, and high efficiency of lead acid batteries are expected to maintain their demand from this industry during the forecast period.The industrial, residential, commercial, and power sectors are also expected to gain impetus in the coming years, states the market report.The report analyzes the Africa lead acid battery market on the basis of battery type. Engine starting batteries, valve regulated batteries, standby power batteries, and motive power batteries are the key type of batteries available in this market, notes the research study.
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In terms of volume, the engine starting batteries segment led the Africa market for lead acid batteries in 2014 with a share of 38.7%. The segment contributed a share of 47.4% in the overall revenue generated in this market that year. Analysts at TMR expect the segment to maintain its lead in the Africa lead acid battery market over the forecast period in terms of volume and revenue both.The research report also studies the competitive landscape of the Africa market for lead acid battery by analyzing the company profiles of major participants in this market. Enersys, First National Battery Ltd., Exide Technologies, Dixon Batteries, Power Technologies Ltd., Renergy Technologies, GS Yuasa Corp., Willard Batteries, Johnson Controls Inc., and Sabat Battery Co. are the key players operating in the lead acid battery market in Africa, states the market study.