Indonesia & Malaysia Lead Acid Battery Industry is projected to secure around 8% CAGR between 2020 and 2026, supported by growing demand for high energy density battery units.
SELBYVILLE, Del. – April 2, 2020 – (Newswire.com)
The Indonesia & Malaysia Lead Acid Battery Market is poised to surpass USD 1.4 Billion by 2026, as reported in the latest study by Global Market Insights, Inc. Growing demand for high energy density batteries, coupled with an increasing emphasis toward personal mobility, will augment the deployment of lead acid batteries.
Easy installation, superior performance and minimal maintenance are some of the eminent factors driving the demand for motive lead acid battery units. These batteries are a cost-effective solution for EV & HEV, which will further complement the product adoption. In addition, rapid technological advancements to optimize the performance and efficiency of motive batteries will stimulate business growth in the forthcoming years.
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Growing demand for cost-effective and reliable energy supply for critical power applications across various industries has propelled the installation of VRLA batteries. Minimal maintenance and low self-discharge rates are some of the paramount features favoring the product adoption over other available counterparts. Furthermore, the introduction of AGM (Absorbent Glass Mat) VRLA batteries with vibration and impact resistance and spill-proof characteristics will further enhance the industry statistics.
Some of the key findings of the Indonesia & Malaysia lead acid battery market report include:
- The demand for lead acid batteries is surging across the automobile sector due to their benefits such as superior cranking performance and minimal maintenance cost.
- Growing investments across the telecom and industrial sector are anticipated to propel business growth.
- Major players operating across the lead acid battery market are Clarios, GS Yuasa Corporation, and Furukawa Battery Co., Ltd.
- Anticipation of a global recession, subdued consumer demand and large-scale disruptions imposed by COVID-19 pandemic are anticipated to reduce the lead acid battery market revenue in 2020, when compared to 2019.
Browse key industry insights spread across 180 pages with 124 market data tables & 54 figures & charts from the report, “Indonesia & Malaysia Lead Acid Battery Market Statistics By Construction (Flooded, VRLA), Application (Stationary {Telecommunications, UPS, Control & Switchgear}, Motive, SLI {Automobiles, Motorcycles}), Sales Channel (OEM, Aftermarket), Industry Analysis Report, Country Outlook, Application Potential, Price Trend, Competitive Market Share & Forecast, 2020 – 2026” in detail, along with the table of contents:
https://www.gminsights.com/industry-analysis/indonesia-and-malaysia-lead-acid-battery-market
The aftermarket segment is set to grow on account of the growing demand for replacement of old batteries that have reached the end of their life cycle. Lower replacement cost and the presence of robust aftermarket distribution channels are some of the key underlying factors favoring the industry growth. In addition, the aggressive expansion of OEMs into the aftermarket business, coupled with surging investments toward customer experience optimization, will further proliferate the business landscape.
The Indonesia lead acid battery market is anticipated to witness over a 7% CAGR through 2026. Increasing investments toward the development & expansion of telecom industry & data centers have positively influenced the product demand. The expanding automotive aftermarket across the country, along with the growing consumer inclination toward maintenance-free and economical batteries, will further drive the industry growth.
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Browse Related Reports:
Lead Acid Battery Industry Statistics By Construction (Flooded, VRLA), Application (Stationary {Telecommunications, UPS, Control& Switchgear, Others}, Motive, SLI {Automobiles, Motorcycles}), Sales Channel (OEM, Aftermarket), Industry Analysis Report, Regional Analysis, Application Potential, Price Trend, Competitive Market Share & Forecast, 2018– 2024
https://www.gminsights.com/industry-analysis/lead-acid-battery-market
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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Indonesia and Malaysia Lead Acid Battery Market to Hit $1.4 Billion by 2026, Says Global Market Insights, Inc.
