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Global Stationary Lead Acid Battery Growth Opportunities

Global Stationary Lead Acid Battery Growth Opportunities

  • June 2021
  • 108 pages
  • ID: 6103088
  • Format: PDF
  • Frost & Sullivan

Summary

Table of Contents

Stationary lead acid batteries (LABs) have been used for nearly 140 years to power various small and large applications.Over the last 5 decades, these batteries have become the standard source of power not only for automobiles but also for gensets, UPS systems, and other equipment.

Low price, ease of recyclability, and user-friendliness have driven high adoption across industries, including new ones such as data centers and 5G telecom networks. The growing number of renewable energy (RE) installations, mainly solar PV, has led to excess power generation and high demand for energy storage solutions, which drives demand for stationary LABs.

Poor grid connectivity and frequent power outages in developing regions also aid in the deployment of these batteries as prime and backup power sources. Data centers and telecom networks are a large market for stationary LABs as operators in these domains deploy multiple systems such as gensets, UPS systems, DC power systems, and standalone batteries to cater to high power demand and reduce network downtime.Stationary LABs are likely to face intense competition from other battery chemistries; Lithium-ion is gaining popularity due to its high energy density, cost-effectiveness, and ability to meet the growing power needs of new technologies. The COVID-19 pandemic has caused the market to shrink due to lockdowns and the cessation of industrial activity. Asia-Pacific (APAC) is the largest market for stationary LABs, followed by North America. APAC and the Middle East and Africa are expected to witness high growth rates due to increased industrial, commercial, and infrastructure investments, which will fuel demand for power sources. Increased expenditure by utilities will drive demand for batteries and make the segment the major adopter of stationary LABs. The global stationary LABs market is expected to grow from $7.38 billion in 2020 to $11.02 billion in 2030 at a CAGR of 4.1%. It declined by 6.9% in 2020 due to the pandemic; however, growth is forecast to pick up in 2021. The study period runs from 2019 to 2030, and the base year is 2020. The study covers North America, Europe, APAC, Latin America, the Middle East and Africa, and Rest-of-World (RoW).

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