The regulatory government norms are increasingly focusing on reducing the greenhouse gas emissions and global temperature. Attributing to this, the need for electric vehicles (EVs), such as plug-in hybrid electric vehicles, hybrid electric vehicles, and pre battery electric vehicles, is on the rise as they enable efficient and clean transportation. In order to increase the adoption of EVs across the world, a France-based organization, Clean Energy Ministerial, established a multi-government policy forum - ‘Electric Vehicles Initiative (EVI)’ in 2010. Since, due to their high energy density and specific energy, lead-acid batteries are used widely as a power generating source in EVs, their demand is predicted to increase with the rising adoption of EVs.
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Lead-acid battery, a type of rechargeable cell, makes use of sponge lead and lead peroxide in order to convert chemical energy into electrical power. The battery comprises lead and lead oxide plates, which are immersed in sulfuric acid solution. Electric current is generated due to the oxidization of the lead plate by the oxide component of the battery. Due to their low cost and high cell voltage, lead-acid batteries are commonly used in power stations and substations. According to a research conducted by P&S Intelligence, in 2017, the global lead-acid battery market attained a value of $56.9 billion and is further predicted to generate $70.7 billion, advancing at a 3.7% CAGR, in the coming years. The application of lead-acid batteries is extensive in various sectors — utilities, oil & gas, automotive, leisure, marine, telecommunication, uninterrupted power supply (UPS), construction, mining, and military. The largest demand for lead-acid batteries was created by the automotive sector during the time period 2013–2017 because of the increased requirement for automobiles.
The rising demand for UPS is also contributing to the growing need for lead-acid batteries. The requirement for electricity across the world is surging due to industrialization and urbanization, which, in turn, is driving the demand for UPSs, as they protect devices from load surges and data loss, along with providing uninterrupted supply of electricity. Moreover, industries such as healthcare, educational institutions, oil & gas, chemicals, research institutions, and manufacturing require uninterrupted electricity supply so that their machineries can function properly. The need for UPSs is also expected to increase because of the emerging data centers and IT industries in the European and APAC regions, as they protect equipment from any damages due to electricity fluctuations. Lead acid batteries are used in these systems for power supply backup, which is why their requirement is growing because of the rising demand for UPS.
Three types of lead-acid batteries are standby, starting, lighting, & ignition (SLI), and motive. Standby battery, also known as float-use battery, has large number of thin cell plates and is used as an alternate source of electricity in case of any emergencies. It has a life span of around five years. SLI battery is used for powering lights, motor, and ignition system of a vehicle’s engine and is installed with the vehicle’s charging system. Motive battery provides a steady current for a longer duration and is utilized to provide power to EVs such as golf carts and forklift truck. Among all these, the largest demand during 2013–2017 was created for SLI lead-acid batteries.
Get free sample copy of report at: http://bit.ly/2ppqyl1
Lead-acid battery, a type of rechargeable cell, makes use of sponge lead and lead peroxide in order to convert chemical energy into electrical power. The battery comprises lead and lead oxide plates, which are immersed in sulfuric acid solution. Electric current is generated due to the oxidization of the lead plate by the oxide component of the battery. Due to their low cost and high cell voltage, lead-acid batteries are commonly used in power stations and substations. According to a research conducted by P&S Intelligence, in 2017, the global lead-acid battery market attained a value of $56.9 billion and is further predicted to generate $70.7 billion, advancing at a 3.7% CAGR, in the coming years. The application of lead-acid batteries is extensive in various sectors — utilities, oil & gas, automotive, leisure, marine, telecommunication, uninterrupted power supply (UPS), construction, mining, and military. The largest demand for lead-acid batteries was created by the automotive sector during the time period 2013–2017 because of the increased requirement for automobiles.
The rising demand for UPS is also contributing to the growing need for lead-acid batteries. The requirement for electricity across the world is surging due to industrialization and urbanization, which, in turn, is driving the demand for UPSs, as they protect devices from load surges and data loss, along with providing uninterrupted supply of electricity. Moreover, industries such as healthcare, educational institutions, oil & gas, chemicals, research institutions, and manufacturing require uninterrupted electricity supply so that their machineries can function properly. The need for UPSs is also expected to increase because of the emerging data centers and IT industries in the European and APAC regions, as they protect equipment from any damages due to electricity fluctuations. Lead acid batteries are used in these systems for power supply backup, which is why their requirement is growing because of the rising demand for UPS.
Three types of lead-acid batteries are standby, starting, lighting, & ignition (SLI), and motive. Standby battery, also known as float-use battery, has large number of thin cell plates and is used as an alternate source of electricity in case of any emergencies. It has a life span of around five years. SLI battery is used for powering lights, motor, and ignition system of a vehicle’s engine and is installed with the vehicle’s charging system. Motive battery provides a steady current for a longer duration and is utilized to provide power to EVs such as golf carts and forklift truck. Among all these, the largest demand during 2013–2017 was created for SLI lead-acid batteries.
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