Lead Acid Battery Market Size - Set To Register A CAGR Of About 5 Percent During The Projected Phase

The worldwide lead acid battery market is expected to expand during the projected phase. This phase runs from 2014 to 2018. The market is estimated to rise during the same, at a CAGR of about 5 percent. Lead acid batteries are very commonly used for giving power to forklifts. These batteries also execute vital functions in motorcycles and automobiles. Irrespective of the choice, materialsÂ’ research procedures, technology of processing or technology of battery reprocessing, the lead acid battery market has developed fully.

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The share of lead acid battery in the worldwide market is estimated to improve fast. Applications of energy storage and advancements in automobiles and motorcycles drive the lead acid battery market prominently and push it forward. The growing need for uninterruptable supply system (UPS) in manufacturing sectors has increased the demand of this market. Moreover, low prices and dependability in relation to performance are estimated to drive the market further. Dangers of blasts of lead acid batteries due to accrual of gases, like oxygen and hydrogen act as a major restraint to the further development of this market. Furthermore, the expanding lithium ion battery market is also estimated to slow down the lead acid battery market from moving ahead. lead acid battery market size Source: Grand View Research