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The market size of advanced lead acid battery is estimated to grow from USD 22.7 billion in 2022 to USD 30.7 billion by 2027, at a CAGR of 6.3% during the forecast period. The advanced lead acid battery market has been growing  moderately over the past five years, owing to rapid technological advancements and expansion in the telecom sector. 

“Utility is the fastest growing segment of advanced lead acid battery market by end-user” 

The advanced lead acid battery market by end-user is segmented into utility, transportation, industrial, and commercial & residential. The utility segment is expected to grow at the fastest rate owing to   growing industrialization in developing countries such as India and China, which will enhance the  electricity demand, creating the market for advanced lead acid  batteries. 

“By type, motive segment is expected to account for the largest market share during the forecast period”

By type, motive segment was the largest in the advanced lead acid battery market, in 2021, in terms of value. Motive advanced lead acid batteries are used in automotive and automobile applications and have a significantly high discharge and charge rate. These batteries commonly comprise of cathode, and anode plates, strengthened with either an amalgamate of lead and antimony in a flooded setup or calcium and lead alloy in a sealed setup.Usage of motive advanced lead acid  batteries in automotive sector is expected to drive the market in the future.

“Asia  Pacific was the fastest growing region for advanced lead acid battery market in 2021”

Asia Pacific is one of the major market for advanced lead acid battery, in terms of value. Asia Pacific is the leader in the advanced lead acid battery market, and this dominance is expected to continue during the forecast period as well. Key countries in the Asia Pacific advanced lead acid battery market include China, Japan, South Korea, and India, which dominated the region’s overall market in terms of value in 2021. The growing demand for electricity in emerging countries of Asia Pacific are expected to drive the growth of the advanced lead acid battery market in the region.

Profile break-up of primary participants for the report:

• By Company Type: Tier 1 – 65%, Tier 2 – 20%, and Tier 3 – 15% 

• By Designation: C-level – 25%, Director Level – 30%, and Others– 45%

• By Region: Asia Pacific – 40%, North America – 30%, Europe – 20%, South America – 3%, Middle East & Africa – 7%

Major companies in the advanced lead acid battery market include Enersys (US), Exide Industries Ltd. (India), GS Yuasa International Ltd. (Japan), Clarios (US), and Leoch International Technology Limited Inc (China), among others.

Research Coverage:

The report defines, segments, and projects the advanced lead acid battery market based on type, construction method, end-user, and region. It provides detailed information regarding the major factors influencing the  market's growth, such as drivers, restraints, opportunities, and challenges.It analyzes competitive developments, such as product launches and expansions, undertaken by the players in the market.

Reasons to Buy the Report:

The report is expected to help the market leaders/new entrants in the market by providing them the closest approximations of revenue numbers of the advanced lead acid battery market and its segments. This report is also expected to help stakeholders obtain an improved understanding of the  market's competitive landscape, gain insights to improve the position of their businesses and make suitable go-to-market strategies. It also enables stakeholders to understand the pulse of the market and provides  information on key market drivers, restraints, challenges, and opportunities.