The global automotive lead-acid battery market is expected to grow exponentially in years to come thanks to ever-increasing urbanisation and industrialisation, technological advancements, and growing inclination toward electric vehicles.
According to research agency Radiant Research, although lithium batteries have been dominating the market, lead-acid batteries, specifically those used predominantly in the automotive sector, are reported to be 99% recyclable. This has made them the strongest contender with regards to renewable energy solutions and electric vehicles.
According to experts, cost-optimised energy storage installations would prefer using lead as a battery storage system. It has also been observed that stationary lead-batteries are much more efficient in terms of energy storage.
The Asia Pacific region rules the roost, thanks to higher production as well as sales of vehicles in Indonesia, South Korea, Japan, India, and China.
Moreover, increasing application for energy storage in the industrial sector is estimated to pave the way for automotive lead-acid batteries in the near future. The market is also set to grow for electric vehicles; which call for easily recyclable and economical batteries, and, according to the report’s authors will in turn likely cause an upsurge in demand for automotive lead-acid batteries.
For more information on the report click here.
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