A new research
report published by Transparency Market Research states that the
Africa lead acid battery market will grow at a 5.3% CAGR during the
period from 2015 to 2021. The report, titled ‘Lead
Acid Battery Market - Africa Industry Analysis, Size, Share,
Growth, Trends and Forecast 2015 - 2021’, states that the
Africa lead acid battery market was valued at US$708.6 mn in 2014 and
is expected to be valued at US$1,014 mn by 2021. Increasing demand
for lead acid batteries for UPS systems will drive the Africa lead
acid battery market during the forecast period.
Due to the
improvement in the economy of Africa, there has been a rise in the
purchasing power of individuals. In addition, there has been immense
growth in the automobile sector. The demand for passenger vehicles
has increased considerably and is set to grow further in the coming
years. Therefore, the production of vehicles has increased due to the
rise in demand for automobiles. This has resulted in the rise of lead
acid battery manufacturing, thereby driving the growth of the Africa
lead acid batteries market. The use of lead acid batteries in cars,
buses, trucks, trains, and airplanes is supporting its growth in
Africa. Major automakers in the commercial vehicle segment are also
focusing on producing hybrid and electric vehicles across different
model ranges, which are set to use lead acid batteries as the power
source Therefore, with the rise in demand for vehicles, the
requirement for lead acid batteries is set to grow uniformly. All
these factors are expected to boost the demand for lead acid
batteries in the automotive sector.
The competitive
advantage that lead acid batteries possess, as compared to their
substitutes, is their low price. Therefore, lead acid batteries are
preferred by a large number of consumers in Africa. Lead acid
batteries are facing strong competition from lithium-ion batteries
because there are a number of positive traits to the latter. But the
price of lead acid batteries being much lower than that of
lithium-ion batteries makes the former more attractive to consumers
in the developing nations of Africa. There are numerous countries in
Africa, which are either under-developed or developing. Therefore,
the scope of affordable lead acid batteries in various application
sectors is of great significance in such countries. In addition, the
reliability factors of lead acid batteries are immense as they are
shock and overcharge resistant and leak proof. Such notable features
provide great opportunities to lead acid battery manufacturers to do
business in numerous regions in Africa.
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PDF file of Lead Acid Battery Market :
Lead acid storage
batteries have numerous applications, which range from small
batteries used in hand tools to large battery structures used by
electrical component companies for load leveling. Lead acid batteries
used in electric vehicles need to undergo frequent and deep cycling
and the batteries used for emergency lighting need to remain in
‘float’. Therefore, different type of lead acid batteries is used
for specific applications depending upon the desired capacity,
operating temperature, power requirements and voltage. By determining
the battery’s duty cycle, its application is ascertained. The duty
cycle of a battery include operating parameters of a cell in the
battery. Such parameters are cycle length, discharge rates, length of
time in the standby mode and depth of discharge. The duty cycle along
with the parameters is included in the battery design engineering
which helps to determine the type of charger to be used. The major
lead acid battery applications are industrial, commercial,
residential, power and automotive.
The report also
provides company market share analysis of the various industry
participants. Key players have been profiled and their
company overview, financial overview, business strategies, SWOT
analysis, and recent developments have been covered in the report.
Major market participants profiled in this report include Enersys,
Exide Technology, Johnson Controls Inc., Dixon batteries among
others.
About Us :
Transparency Market Research is a global market intelligence company,
providing global business information reports and services. Our
exclusive blend of quantitative forecasting and trends analysis
provides forward-looking insight for thousands of decision makers.
Our experienced team of Analysts, Researchers, and Consultants, use
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and analyze information.
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