The U.S. lead acid battery market size is projected to account for USD 14.4 billion in 2025, as estimated by Million Insights in its new report. The market is likely to expand at 5.3% CAGR from 2019 to 2025. Increasing demand for UPS systems from end-use industries such as healthcare, oil & gas, chemical, manufacturing and paper is driving the growth of the market.
The U.S. is the home of some of the world’s leading manufacturing companies. Additionally, the country has a developed healthcare infrastructure. These industries can thrive only with the uninterrupted power supply, where lead-acid batteries play a crucial role. In addition, U.S. is witnessing significant adoption for electrical vehicles, which in turn, driving the need for cost-efficient batteries.
Over the past few years, there has been significant up-gradation in the manufacturing of lead acid batteries. Technical advancements gas paved the way of lower manufacturing cost for these batteries. Moreover, the recyclability of lead acid batteries has further driven their demand.
The U.S. has witnessed rapid industrialization in the past few years. Several companies including chemical, manufacturing and pharmaceuticals have set their production unit in the country. In addition, leading steel manufacturing companies such as WISCO, Shougang Group, Valin Group and Baosteel Group Corp has resulted in increasing demand for constant power supply.
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Further key findings from the report suggest:
• In 2018, the U.S. lead-acid battery market was worth USD 9.9 billion and likely to grow at 5.3% CAGR over the forecast duration.
• The U.S exported more than 1.8 million of lightweight vehicles along with 130 thousand of heavy and medium-duty vehicles. These vehicles are among leading users of lead-acid batteries.
• In 2018, SLI accounted for the largest share in the market by holding more than 50% of the share.
• Depending on the construction type, flooded lead-acid batteries held nearly 60% of share in 2018.
Million Insights has segmented the U.S. lead acid battery market on the basis of product, construction and application:
U.S. Lead Acid Battery Product Outlook (Revenue, USD Million, 2014 - 2025)
• Starting, Lighting and Ignition (SLI)
U.S. Lead Acid Battery Construction Outlook (Revenue, USD Million, 2014 - 2025)
• Valve Regulated (VRLA)
U.S. Lead Acid Battery Application Outlook (Revenue, USD Million, 2014 - 2025)
• Electric Bikes
• Transport Vehicles