Market Size of Stationary Lead-acid Battery Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 4.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Stationary Lead Acid Battery Market Analysis
The stationary lead acid battery market is expected to grow at a CAGR of over 4% during the period of 2020-2025. Factors such growing industrial sector and the low cost of lead-acid batteries, to drive the secondary lead-acid battery market during the forecast period. However, declining lithium-ion battery prices and increasing electric vehicles sales, are likely to restrain the growth of the secondary lead-acid battery market in the coming years.
- Valve regulated lead-acid battery is expected to dominate the market due to the increasing application in power backup systems around the world.
- Decreasing cost of solar PV equipment and supportive global initiatives over concern of rising pollution, is expected to increase the utilization of off-grid solar projects significantly, which in turn is expected to provide great opportunity for the stationary lead-acid battery market in forecast period.
- Asia-Pacific is expected to dominate the stationary lead acid battery market, with the majority of the demand coming from the China, Japan, and India.
