Lead Acid Battery Market
Lead Acid Battery Market - Africa Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2021
Press Release :
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 increasing requirement for UPS systems and inverters in homes and industries are also driving the demand for lead acid batteries. The use of UPS systems and inverters is complementary to that of lead acid batteries. All UPS systems and inverters require batteries to function and lead acid batteries are among the most efficient energy storage sources for such devices. Their low cost and reliability are set to increase the demand of these batteries in the coming years, in Africa. However, materials used in the manufacturing process of lead acid batteries such as lead and sulfuric acid are hazardous substances, and require appropriate handling. The lack of recycling systems and collection can result in environmental pollution. Therefore, the governments of various countries including Africa have issued stringent norms and regulations relating to lead acid batteries. Such regulations set up for limiting the lead emission in lead batteries are inhibiting the growth of lead acid batteries in Africa, thereby driving demand for other environment friendly batteries.
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.
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 rapid pace of globalization and industrialization across the globe has led to the development of several new applications for lead acid batteries. The rising need for UPS systems in industries, corporate settings, educational and research institutes, and domestic dwellings has led to an increased demand for reliable and economical energy storage facilities such as lead acid batteries. Additionally, the rising demand for electric and hybrid vehicles, which employ lead acid batteries, is also leading to the surplus in rising demand for lead acid batteries on a global front.
Transparency Market Research’s the detailed market research report on the Africa lead acid battery market presents an in-depth insights into the market and gives a 360-degree overview of the crucial elements of the market. The report gives estimates and forecasts pertaining to the future growth prospects of the crucial segments of the market over the period between 2015 and 2021. For the purpose of the study, the Africa lead acid battery market is segmented on the basis of three criteria: product type, application, and geography.
The report also gives an expansive account of the projected impact of key factors driving growth, restraining it, and major trends on influencing the overall development of the Africa lead acid battery market over the report’s forecast period. Key market segments have been elucidated with the help of extensive qualitative as well as quantitative data, making the document a highly efficient data repository that can ease of crucial information pertaining to the market.
Africa Lead Acid Battery Market: Overview
The primary factors working in favor of the Africa lead acid battery market include the improving financial conditions of countries in the region, which has led to a substantial rise in purchasing power of individuals, the flourishing growth of the automobile sector, and a constant rise in demand for passenger vehicles in Africa.
The competitive advantage that lead acid batteries enjoy as compared to their counterparts in terms of low price is also a very crucial factor that works in favor of the lead acid battery market in Africa, which is a region where majority of dominant economies are either developing or under-developed.
The report segments the Africa lead acid battery market on the basis of three criteria: product type, application, and geography.
On the basis of product type, the market has been segmented into engine starting, standby power, motive power, and valve regulated lead acid batteries. Based on applications of lead acid batteries, the market has been segmented into automobile, industrial, residential, commercial, and power. On the basis of geography, the market has been segmented into South Africa, Nigeria, Egypt, Kenya, Zimbabwe, Ghana, and Rest of Africa.
Of the key product types in the market, the segment of engine starting lead acid batteries accounted for a share of 38.7% share in the market in terms of volume and a share of 47.4% in terms of revenue in the Africa lead acid batteries market in 2014.
Africa Lead Acid Battery Market: Key Market Players
Some of the major vendors operating in the Africa lead acid batteries market are First National Battery Limited, Enersys, Renergy Technologies, Exide Technologies, GS Yuasa Corporation, Dixon Batteries, Johnson Controls Inc., Power Technologies Limited, Sabat Battery Co., and Willard Batteries.
Key segments of the Lead Acid Battery Market
Africa Lead Acid Battery Market: By type
- Engine Starting
- Motive Power
- Standby Power
- Valve Regulated Lead acid battery
Africa Lead Acid Battery Market: By application
Africa Lead Acid Battery Market: By country
- South Africa
- Rest of Africa
This report gives you access to decisive data such as:
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for the coming years
Key highlights of this report
- Overview of key market forces propelling and restraining market growth
- Up-to-date analyses of market trends and technological improvements
- Pin-point analyses of market competition dynamics to offer you a competitive edge
- An analysis of strategies of major competitors
- An array of graphics and SWOT analysis of major industry segments
- Detailed analyses of industry trends
- A well-defined technological growth map with an impact-analysis
- Offers a clear understanding of the competitive landscape and key product segments