Lead Acid Battery Market to hit US$1 bn by 2021 | TMR

The rapid pace of globalization and industrialization across the globe has led to the development of several new applications for lead acid batteries. The rising need for UPS systems in industries, corporate settings, educational and research institutes, and domestic dwellings has led to an increased demand for reliable and economical energy storage facilities such as lead acid batteries. Additionally, the rising demand for electric and hybrid vehicles, which employ lead acid batteries, is also leading to the surplus in rising demand for lead acid batteries on a global front.

Transparency Market Research’s the detailed market research report on the Africa lead acid battery market presents an in-depth insights into the market and gives a 360-degree overview of the crucial elements of the market. The report gives estimates and forecasts pertaining to the future growth prospects of the crucial segments of the market over the period between 2015 and 2021. For the purpose of the study, the Africa lead acid battery market is segmented on the basis of three criteria: product type, application, and geography.

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The report also gives an expansive account of the projected impact of key factors driving growth, restraining it, and major trends on influencing the overall development of the Africa lead acid battery market over the report’s forecast period. Key market segments have been elucidated with the help of extensive qualitative as well as quantitative data, making the document a highly efficient data repository that can ease of crucial information pertaining to the market.

Africa Lead Acid Battery Market: Overview

The primary factors working in favor of the Africa lead acid battery market include the improving financial conditions of countries in the region, which has led to a substantial rise in purchasing power of individuals, the flourishing growth of the automobile sector, and a constant rise in demand for passenger vehicles in Africa.
The competitive advantage that lead acid batteries enjoy as compared to their counterparts in terms of low price is also a very crucial factor that works in favor of the lead acid battery market in Africa, which is a region where majority of dominant economies are either developing or under-developed.

The report segments the Africa lead acid battery market on the basis of three criteria: product type, application, and geography.

On the basis of product type, the market has been segmented into engine starting, standby power, motive power, and valve regulated lead acid batteries. Based on applications of lead acid batteries, the market has been segmented into automobile, industrial, residential, commercial, and power. On the basis of geography, the market has been segmented into South Africa, Nigeria, Egypt, Kenya, Zimbabwe, Ghana, and Rest of Africa.

Of the key product types in the market, the segment of engine starting lead acid batteries accounted for a share of 38.7% share in the market in terms of volume and a share of 47.4% in terms of revenue in the Africa lead acid batteries market in 2014.
Africa Lead Acid Battery Market: Key Market Players

Some of the major vendors operating in the Africa lead acid batteries market are First National Battery Limited, Enersys, Renergy Technologies, Exide Technologies, GS Yuasa Corporation, Dixon Batteries, Johnson Controls Inc., Power Technologies Limited, Sabat Battery Co., and Willard Batteries.

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This release was published on openPR.