Transportation was the largest end-use application in the target regions lead acid battery market in 2014, and is anticipated to continue its dominance through 2020. Stationary industrial is the second largest contributor to the target regions lead acid battery market, and is expected to register the fastest CAGR of 8.5% during the forecast period.
Future Market Insights, in its latest report titled,“Lead Acid Battery Market: Asia Pacific, Latin America, Japan, Middle East & Africa Industry Analysis and Opportunity Assessment 2014 – 2020”, states that the target regions lead acid battery market accounted for US$ 24,210.5 Million in 2014, and is expected to reach US$ 31,708.4 Million at a CAGR of 4.6% during the forecast period. Asia Pacific, which accounted for the major chunk in the target regions lead acid battery market, is expected to expand at an estimated CAGR of 4.5% during the forecast period.
By application type, the target regions lead acid battery market is segmented as transportation, stationary industrial, motive industrial, commercial, residential, and grid storage. Transportation and stationary industrial collectively contributed to around 82.4% of market revenue in 2014.
The report finds that grid storage is one of the smallest end-use application segments in the target regions lead acid battery market, but is anticipated to register the fastest CAGR of 7.2% during the forecast period.
Lead acid batteries are predominantly used in passenger cars, commercial vehicles and two wheelers.
