According to research firm Technavio, the global stationary lead-acid battery market will record a 7% growth between 2018-2022.
A key factor driving the growth of the market is the evolution of mobile communication networks. The number of global cellular subscribers has increased as the technology used in digital services has improved over the years.
The integration of various applications with wireless networks has triggered this increase in mobile communication users.
The implementation of 4G/LTE provided high-speed connections for fast data streaming and brought in an increase in power requirements in the data centre market, which assisted the growth of the power storage market for providing uninterrupted service.
“Along with the rise in VRLA battery adoption, the change in energy mix, the electrification era and smart grid, the need for continuous power supply and power storage, and the increase in recycling of lead-acid batteries are some other factors that are expected to enhance the growth of the global stationary lead-acid battery market,” says a senior analyst at Technavio.
Even though VRLA has a shorter battery life, its low maintenance requirements and easy replacement support the better adoption of this battery technology, thus driving the growth in stationary applications.
The APAC region led the market in 2017 with a market share of more than 61%, followed by the Americas and EMEA respectively. During the forecast period, the APAC region is expected to dominate the global stationary lead-acid battery market, as well as register the highest incremental growth.