Market Size of Bangladesh Lead-Acid Battery Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 3.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Bangladesh Lead Acid Battery Market Analysis
The Bangladeshi lead-acid battery market is expected to register a CAGR of more than 3% during the forecast period (2022-2027). The COVID-19 pandemic negatively affected the Bangladeshi lead-acid battery market, as raw materials could not be sourced and finished products could not be moved due to the lockdowns imposed worldwide. The demand for automobiles that contain SLI batteries declined due to the pandemic as people were reluctant to spend money on non-essential items. In terms of market growth, increasing sales of automobiles in the country and the low cost of lead are likely to drive the lead-acid battery market during the forecast period. However, declining lithium-ion battery prices and increasing adoption of electric vehicles are likely to hinder the market's growth during the forecast period.
- Due to the booming automotive sector, SLI batteries (starting, lighting, and ignition) are expected to dominate the market during the forecast period
- The decreasing cost of solar PV equipment and supportive global initiatives may eliminate carbon emissions and promote renewables by utilizing off-grid renewable energy projects. This factor is expected to create immense opportunities for the market players.
- The Bangladeshi lead-acid battery market is likely to be driven by the increasing installation of the residential uninterrupted power supply systems to counter the erratic power supply in the country.
