Lead Acid Battery Market: Led by Increasing demand for Automobiles | TMR

Lead acid batteries are commonly used in automobiles and UPS systems due to their low cost and high efficiency. Their robust design has also helped boost their use in these and other applications. 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. The report is titled ‘Lead Acid Battery Market - Africa Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2021’ and is available for sale on TMR’s official website.

Download PDF Brochure at http://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=5870

Transparency Market Research (TMR) has announced the publication of a new report in its extensive catalog on the global consumer goods sector. The market for lead acid batteries in Africa is the prime focus of this report. The report presents detailed data about the historical as well as present statistics of the Africa lead acid batteries market, elaborating upon the major driver and restraints affecting the growth trajectory of the market and the major segments of the market at present. This helps build up a solid base of market figures to present forecasts regarding the market’s development in the coming years.

The demand for lead acid batteries in Africa is driven primarily by the rising disposable income of the consumers, which has led to an increasing demand for automobiles. Africa is still largely undeveloped, but urban centers in developing economies such as South Africa and Egypt are starting to have significant impact on the global economy. This will drive the industrial sector in Africa in the coming years, driving the production of automobiles.

The importance of the automotive industry to the Africa lead acid batteries market is illustrated by the fact that engine starting batteries were the dominant segment of the market in 2014. By volume and revenue, engine starting batteries accounted for 38.7% and 47.4% of the Africa lead acid batteries market, respectively, in 2014 and are expected to remain the dominant market segment in the coming years.

The increasing industrial sector will also benefit the Africa lead acid batteries market by boosting the demand for UPS systems. Due to the lack of advanced infrastructure in many African countries, continuous electricity is not available in large parts of the continent. This has led to an increasing demand for UPS systems in industrial as well as residential units. The robust nature of lead acid batteries and their high energy efficiency when compared to other battery systems have led to them becoming the standard type of battery used in UPS systems. This has driven the demand for lead acid batteries in Africa. However, the ongoing infrastructural development in much of Africa will render this application virtually obsolete in the coming decades.

On the other hand, the increasing awareness about the environmental problems created by lead acid batteries is a major restraint on the Africa market for the same. Governments in Africa are beginning to opt for more expensive but more advanced and safer forms of batteries, which will hold the Africa lead acid batteries market back in the coming years.

Key players operating in the Africa lead acid batteries market include Exide Technologies, Power Technologies Limited, Johnson Controls Inc., Dixon Batteries, Enersys, First National Battery Limited, Sabat Battery Co., GS Yuasa Corporation, and Willard Batteries.

About Us

Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

90 State Street, Suite 700
Albany, NY 12207
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com
Website: http://www.transparencymarketresearch.com

This release was published on openPR.