Lead Acid Battery Market Size, Share, and Forecast
Lead Acid Battery Market Lead Acid Battery Market was valued at USD 60 Billion in 2019 and is forecast to expand at CAGR of 5.2% over the forecast period (2020-2027), owing to the expansion of passenger car, and commercial vehicle manufacturing industries. Emerging need for highly reliable and effective energy solutions, expansion in the automotive industry, and reducing prices of lead are the major factors fueling the lead acid battery market size . For example, according to IBEF, the Indian automobile industry is the fourth largest in the world and is expected to reach USD 251.4 – 282.8 billion by the end of 2028. In addition, the overall production of domestic automobile increased by 2.36% CAGR between 2016-2020 with nearly 26.36 million vehicles produced in the country in FY 2020. Rising demand for emission-free electric automotive and the technological innovations is expected to propel the lead-acid batteries market share over the upcoming years. Construction Method Seg...