Valve regulated lead-acid batteries: Key market research findings
- Cost benefit of lead-acid battery over other batteries
- Rising investments by vendors
- Key market vendors include C&D, Coslight, East Penn Manufacturing, EnerSys, Exide, GS Yuasa, Leoch, and Saft
Technavio has released added a new report on the global valve regulated lead-acid batteries market, which is anticipated to grow at a CAGR of around 8% between 2016 and 2020. The high adoption of electronic devices has increased the dependence on a constant power supply to ensure continuity in daily operations. Moreover, growing number of power outages will result in a surging demand for continuous power supply and storage, which will be a major trend that will gain traction in the VRLA battery market. APAC will continue to dominate the VRLA battery market during the forecast period and will occupy more than 65% of the total market revenue by 2020. Growing use of electric bikes is the major driver for the increasing demand for VRLA batteries in APAC countries, especially China.
The new industry research report from Technavio discusses in detail the key drivers and trends responsible for the growth of this market and its sub-segments.
“The rapid development and production of renewables has increased the use and installation of the grid and off-grid connected energy storage systems. The technical restrictions such as low conversion rates have limited the achievement of consistently high power ratings with renewable energy plants. This has propelled the installation of battery-integrated energy storage systems in to grid to accomplish high power ratings. These storage systems reduce voltage fluctuations and maintain grid stability,” says Vishu Rai, Lead Analyst, Energy, Technavio Research.
The absorbent glass mat (AGM) segment will be the largest segment in the market and is anticipated to occupy more than 70% of the total share by 2020. Besides good performance in cold temperatures, VRLA AGM batteries offer several other advantages, such as acid encapsulation, water retention, vibration resistance, and also charges several times faster than the other batteries. AGM batteries require very less maintenance making them well suited for marine and military operations in remote locations.
C&D, Coslight, East Penn Manufacturing, EnerSys, Exide, GS Yuasa, Leoch, and Saft are the leading players in the global valve regulated lead-acid batteries market. The market is characterized by the presence of several global, regional, and local VRLA battery manufacturers. Since all players compete to gain a considerable share of the market, the market appears highly competitive. As the market dynamics for lead-acid batteries are volatile, vendors have started making efforts to effectively improve their sales, distribution, and working capital to sustain their operations. To survive the market competition, few major vendors have also started considering joint ventures with regional and local vendors.
A more detailed analysis is available in the Technavio report, Global Valve Regulated Lead Acid Batteries Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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