DUBLIN, June 3, 2022 – The “Global Stationary Lead Acid Battery Growth Opportunities” report has been added to ResearchAndMarkets.com’s offering.
The global stationary LABs market is expected to grow from $7.38 billion in 2020 to $11.02 billion in 2030 at a CAGR of 4.1%. It declined by 6.9% in 2020 due to the pandemic; however, growth is forecast to pick up in 2021.
The study period runs from 2019 to 2030, and the base year is 2020. The study covers North America, Europe, APAC, Latin America, the Middle East and Africa, and Rest-of-World (RoW).
Stationary lead acid batteries (LABs) have been used for nearly 140 years to power various small and large applications. Over the last 5 decades, these batteries have become the standard source of power not only for automobiles but also for gensets, UPS systems, and other equipment.
Low price, ease of recyclability, and user-friendliness have driven high adoption across industries, including new ones such as data centers and 5G telecom networks. The growing number of renewable energy (RE) installations, mainly solar PV, has led to excess power generation and high demand for energy storage solutions, which drives demand for stationary LABs.
Poor grid connectivity and frequent power outages in developing regions also aid in the deployment of these batteries as prime and backup power sources. Data centers and telecom networks are a large market for stationary LABs as operators in these domains deploy multiple systems such as gensets, UPS systems, DC power systems, and standalone batteries to cater to high power demand and reduce network downtime.
Stationary LABs are likely to face intense competition from other battery chemistries; Lithium-ion is gaining popularity due to its high energy density, cost-effectiveness, and ability to meet the growing power needs of new technologies.
The COVID-19 pandemic has caused the market to shrink due to lockdowns and the cessation of industrial activity. Asia-Pacific (APAC) is the largest market for stationary LABs, followed by North America. APAC and the Middle East and Africa are expected to witness high growth rates due to increased industrial, commercial, and infrastructure investments, which will fuel demand for power sources. Increased expenditure by utilities will drive demand for batteries and make the segment the major adopter of stationary LABs.
Key Issues Addressed
What is the current state of the market? What is the projected growth rate until 2030?What is the extent of the impact of the COVID-19 pandemic on the market?Which regions will play an important role in future market growth? How are they likely to evolve?Which end-user industries will be key to the development of the market, going forward? What trends will drive these industries?Which application segments will drive future market growth? What is the growth forecast for these segments?What is the nature of the competition in this market?
Key Topics Covered:
- Growth Environment
- Strategic Imperatives
Why Is It Increasingly Difficult to Grow?The Strategic Imperative The Impact of the Top Three Strategic Imperatives on the Stationary LAB MarketGrowth Opportunities Fuel the Growth Pipeline Engine
- Growth Opportunity Analysis, Stationary LAB Market
Scope of AnalysisKey CompetitorsKey Growth MetricsDistribution ChannelsGrowth DriversGrowth Driver AnalysisGrowth RestraintsGrowth Restraint AnalysisForecast AssumptionsRevenue ForecastRevenue Forecast by End UserRevenue Forecast by ApplicationRevenue Forecast by RegionRevenue Forecast by Valve TypeRevenue Forecast AnalysisRevenue Forecast Analysis by End UserRevenue Forecast Analysis by ApplicationRevenue Forecast Analysis by RegionRevenue Forecast Analysis by Valve TypeCompetitive EnvironmentRevenue Share of Top ParticipantsRevenue Share Analysis
- Growth Opportunity Analysis, Stationary Lead Acid Battery Market, North America
Key Growth Metrics, North AmericaRevenue Forecast, North AmericaRevenue Forecast by End User, North AmericaRevenue Forecast by Application, North AmericaRevenue Forecast Analysis, North America
- Growth Opportunity Analysis, Stationary Lead Acid Battery Market, Europe
- Growth Opportunity Analysis, Stationary Lead Acid Battery Market, Asia-Pacific
- Growth Opportunity Analysis, Stationary Lead Acid Battery Market, Latin America
- Growth Opportunity Analysis, Stationary Lead Acid Battery Market, The Middle East and Africa
- Growth Opportunity Analysis, Stationary Lead Acid Battery Market, Rest-of-World
- Growth Opportunity Universe, Stationary Lead Acid Battery Market
Growth Opportunity 1-Consolidation and Geographic Expansion, 2020Growth Opportunity 2-New Product Development, 2020Growth Opportunity 3-Solar PV Deployment (results in increased battery usage), 2020
- Next Steps