Inclination Towards Electric Vehicles Will Lead to the Growth of the Lead Acid Battery Market

In terms of value, the Asia Pacific, Japan, Middle East & Africa, and Latin America lead acid battery market is anticipated to grow at a high CAGR over the forecast period 2014-20. During the past years, the world has witnessed a rising preference for electric vehicles. With the increasing electrification and modification in cars, the power requirement is increasing, especially for micro-hybrid and electric cars. This has led to the increasing preference for EFB and AGM batteries in Europe and America. The demand for AGM batteries in Europe and America is also rising due to the functional benefits of high cold cranking ampere (CCA) or AGM batteries. This need has called for the significant use of the lead acid battery. In terms of volume, the Asia Pacific, Japan, Middle East & Africa, and Latin America lead acid battery market is expected to grow at a CAGR of 3.9%, under an optimistic scenario.

Lead Acid Battery: Introduction

A lead acid battery is a power storage device, widely used in automotive, UPS, telecommunication, and for various other purposes in numerous industries and sectors

A lead acid battery comprises four main elements: a positive plate, which is covered with a paste of lead dioxide; a negative plate made of sponge lead; a separator made of insulating material between the two plates, but allows the electrolyte and the ions into it to enable conduction without the two plates touching; and an electrolyte consisting of water and sulphuric acid.

According to a market report published by Future Market Insights, titled 'Lead Acid Battery Market – Asia Pacific, Japan, Middle East & Africa, and Latin America Industry Analysis and Opportunity Assessment 2014 –2020'. The long-term outlook of the global lead acid battery market remains a sound one, with volume sales expected to increase at a CAGR of 3.9% during the forecast period (2014–2020), with an estimated market size of lead acid battery valued around US$ 31,708.4 Mn in 2020.

Lead Acid Battery Market: Segmentation

Lead Acid Battery Market has been analysed on the basis of the application. By application, the lead acid battery is used in prominent end-use industrial sectors such as transportation, industrial motive, stationary industrial, residential, commercial, and grid storage. The lead acid battery market has been viewed as a high value, high growth type, which is expected to follow suit during the forecast period. Transportation sector has been chief end user of lead acid battery.

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Lead Acid Battery Market: Factors Influencing Revenue Growth

An increased inflow of goods and services has generated the need for efficient transportation and logistics, also increasing vehicle production that has supported a growth in the demand for lead acid battery in the transportation sector. Also, the UPS, low cost, and reliable energy storage solution have generated a significant growth of the lead acid battery segment in the industrial sector. Also, due to functional advantages of lead acid battery such as comparatively longer cycle life, low coat, and lower self-discharge, they have become one of the most preferred battery types, globally.

The main reason for the preference towards lead acid battery is the increasing production of passenger vehicles, which has significantly increased, especially in developing countries due to an increase in the disposable income of the general population, and this is anticipated to rise further in the near future. This, in turn, is creating a high demand opportunity for the lead acid battery market. Industrial sectors are also witnessing significant expansion, which is also expected to drive the demand for stationary battery for UPS system power backup. Also, the demand for deep-cycle battery for wheeled mobility, such as golf cars, wheelchairs, and scissor lifts is also expected to boost the lead acid battery market over the forecast period. The major share of the growth of Asia Pacific, Japan, Middle East & Africa and Latin America lead acid battery market is expected from Asia Pacific, owing to the presence of emerging economies such as China and India, and their continuously expanding automotive and industrial sector. The lead acid battery market has also benefited with the implementation of new policies and regulations for emission control. Apart from the existing materials types used for the manufacturing of lead acid battery, research is being undertaken to improve the materials used to prevent emissions through lead acid battery.

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Lead Acid Battery Market: Leading Companies

Some of the market participants identified in the lead acid battery market are Exide Technologies, EnerSys, GS Yuasa Corporation, Johnson Controls Inc., and Yokohama Industries. The lead acid battery market is a highly competitive market, consisting of tier-1 global scale lead acid battery manufacturers, and a greater proportion of small-scale lead acid battery manufacturers catering to domestic demand. However, large industrial operations seek products from reputed lead acid battery manufacturers for demand procurement. Key strategies employed by tier-1 lead acid battery manufacturers include providing effective sales and services, strategic tie-ups with regional distributors/manufacturers to foray expansion in untapped markets, and undergoing restructuring business operations to optimize the use of resources. Industry players are also constantly focusing on the innovation and development of existing products that adhere to stringent environmental regulations so as to cater to the growing customer demand for lead acid battery with enhanced charging efficiency, long life, etc. The advent of absorbent glass mat (AGM) lead acid battery, which are sealed units, is one such example of innovation.

How Artificial Intelligence Shape the Future of Arial Work Platforms ?

Construction has been shifting towards innovation since the past few decades. A majority of massive constructions have arisen from a zeal to look different and stand out. A recent example of this shift can be seen in newly constructed vibrant murals at the World Trade Center. Aerial work platforms play a pivotal role in construction. The lifts that are a part of the aerial work platforms, are witnessing promisingly progressive growth prospects, with rising demand following a surge in infrastructural development projects worldwide. Future Market Insights, in a recent research on the global aerial work platforms market, predicts construction industry in developing regions to majorly support the market growth over the next decade. The market is expected to expand at 6% CAGR over 2018-2028, attaining a value of over US$ 14.5 billion by 2028 end. Request Sample Report@ https://www.futuremarketinsights.com/reports/sample/rep-gb-1797 Improved Financing Systems & Sustainable Solutions to Back the Shift from Traditional Aerial Work Practices State and private steel producers operating in many regions are rapidly migrating from traditional maintenance practices towards more advanced methods. The latter have managed to gain rapidly growing popularity, against the backdrop of significant capacity additions undertaken in the past few years. The advanced maintenance practices that are carried, utilize higher levels of mechanization, including powered access. On the other side, aerial work platforms such as scissor lifts, and boom lifts tend to offer greater safety and allow faster maintenance. Electric Device Systems to Aid the Market Move towards Sustainable Growth A growing number of companies are renting various types of AWPs to industrial plants, which also includes those AWPs with the functionality to clean up the dust accumulated on the roof of construction sites. Companies related to maintenance activities have been procuring a large number of AWP units over the years. For long-term advantage, companies seem to purchase their own equipment. Furthermore, the future will be dominated by electric device systems. There is a higher demand for solutions which are equipped with electric systems as it is considered to be eco-friendly. As electrically powered systems incorporate efficiency and extended battery life, prominent construction companies are increasingly incorporating sustainable equipment. Companies are focusing on meeting environmental norms to reduce carbon footprint, which will in turn boost the demand for sustainable AWPs in near future. Hybrid Technology to Gather More Investments in Near Future Hybrid AWP has emerged as the most cost effective and eco-friendly alternative for companies participating in the aerial work platforms market. While the current scenario still depicts the dominance of diesel powered scissor lifts, the demand for hybrid technology is gradually increasing in terms of popularity and acceptance. The market projections depict optimistic prospects owing to growing use in a multitude of applications. Other benefits include cost efficiency, noise reduction, and lower contribution to pollution. Request to View TOC @ https://www.futuremarketinsights.com/askus/rep-gb-1797 Companies are also working on development of innovative machine types, to ease the work and enhance functions. Numerous companies specializing in low-weight machines are concentrating on delivering improved safety through innovations, such as crush-protection, sustainable involuntary operation prevention systems, and sensitive hybrid power systems. Electric scissor lifts which are suitable for warehousing and high bay applications are being developed by European manufacturers, such as Holland Lift.

Bicycle Components Market: Electric Bicycles to Represent a Dominant Segment

Increasing adoption of bicycles to maintain fitness and health has led to surge in demand for bicycle components significantly. In addition, government in various countries are increasingly encouraging adoption as a public transport in the metro stations. These factors are projected to impact the global market growth of bicycle components positively. Future Market Insights states that the global market of bicycle components is projected to reflect a CAGR of 4.3% over the forecast period, 2017-2026.

Factors Fuelling Global Market Growth

Growth of the global bicycle components market is mainly bound by various macro-economic and micro-economic factors. Surge in the level of pollution has led the manufacturers in the automotive industry to offer environment-friendly mode of transportation. In addition, ruling authorities in various countries are increasingly encouraging adoption of bicycle components as a public transportation. Surge in adoption of bicycle as a public transport on the bus stands and metro stations is projected to boost demand for bicycle components.

Increasing adoption of bicycles among the diabetic and obese population is further projected to impact the global market growth of bicycle components. Growing need to reduce weight and manage the blood sugar level has led to surge in adoption of bicycles globally. In a recent report, CDC states that more than one-third of the adult population in the U.S., which is over 36.5% is obese. Riding bicycles helps in releasing adrenaline and endorphins, which also helps in treatment of depression. Surge in adoption of the bicycles due to various health benefits has revved up demand for bicycles. Increasing demand for bicycles is projected to contribute towards the global market growth of bicycle components during the forecast period.

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The manufacturing companies in the automotive industry are mainly concentrating on developing innovative solutions in order to enhance the cycling experience of the customers. Manufacturers are increasingly integrating leading technology for bicycle components such as onboard sensors, GPS, intelligent safety features and built-in micro USB port. With the help of GPS integrated in the bicycle, the customers can conveniently track the routes. Intelligent safety features such as intelligent lights are integrated that flash brighter as the rider approaches near a roundabout to avoid possibilities of collision. Incorporation of onboard sensors in the bicycle enables the customers to conveniently connect various devices with the bicycles. Sensors allow the end users to share data regarding the updates on blood and sugar, along with tracking the calories burned. Incorporation of leading technological advancements will continue to boost demand for bicycles in the automotive industry. Such factors are further projected to contribute towards the global market growth of bicycle components during the forecast period.

Electric Bicycles to Witness the Fastest Growth

As the need to control the speed of bicycles through gear arises, demand for derailleurs is projected to remain high in the automotive industry. In terms of revenue, the derailleurs component type segment is projected to witness the highest growth, recording around US$ 980 Mn by 2026-end. On the other hand, the others component type segment is projected to reflect a healthy CAGR during the forecast period.

By 2017-end, the discount stores sales channel segment is projected to witness a robust revenue growth, accounting for more than US$ 800 Mn. On the other hand, the other sales channel segment is projected to reflect the fastest growth in the global market of bicycle components by 2026-end. During the forecast period, the electric bicycle type segment is projected to reflect a significant CAGR throughout the forecast period. However, the hybrid/cross segment bicycle type segment is projected to represent a significant growth in terms of revenue, representing more than US$ 800 Mn by 2026-end.

Market Player

Major players in the global market of bicycle components are Atlas Cycles Inc., Giant Bicycles Inc., Cannondale Bicycle Corporation, Avon Cycles Ltd., Accell Group N.V., Cycleurope AB, Dorel Industries Inc., Currie Technologies Inc., Sr. Suntour, Inc. and Shimano, Inc.