Sealed Lead Acid (SLA) Battery Market Report
Sealed Lead Acid (SLA) Battery, also called Valve Regulated Lead Acid (VRLA) Batteries, is a lead-acid battery that has the sulfuric acid electrolyte coagulated thickened so it cannot spill out. They are partially sealed, but have vents in case gases are accidentally released for example by overcharging.
Scope of the Report:
Sealed lead-acid batteries are one of the predominantly used batteries in automobiles such as passenger cars, commercial cars, and motorcycles. The rapid urbanization and industrialization trend in various developing countries across the globe is one of the chief drivers of the lead-acid battery market.
Market Drivers
Increasing requirements of uninterrupted power supply in industries, corporate offices, hospitals, research institutions, educational institutes, and houses further add to the demands of these batteries. Implementation of smart grid projects, deployment of vehicle charging infrastructure, increasing usage of hybrid and electric vehicles, increasing installation of renewable energy systems and increasing span of telecom towers are some of the underlying demand drivers for lead-acid battery across the globe.
In the global market, the consumption of Sealed Lead Acid (SLA) Battery increases from 209861.05 Million VAh in 2012 to 294841.64 Million VAh in 2016, at a CAGR of 8.87%. In 2016, the global Sealed Lead Acid SLA Battery consumption market is led by the Asia Pacific, capturing about 51.40% of global Sealed Lead Acid SLA Battery sales. North America is the second-largest region-wise market with 22.22% global consumption share.
On the basis of applications, the market is segmented as an automotive starter, motorcycles, and electric bikes, forklifts and other vehicles and UPS. Automotive Starter and Motorcycles and Electric Bikes segments collectively contributed to 68.58% of market consumptions in 2016. UPS application segment is identified as one of the fastest-growing markets during the past five years with a CAGR of 10.64%.
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In the future, the global market is expected to witness significant growth on account of rising applications, so in the next few years, Sealed Lead Acid SLA Battery production will show a trend of steady growth.
The report forecasts the global Sealed Lead Acid (SLA) Battery market to grow to reach $$ Million USD in 2019 with a CAGR of –% during the period 2020-2025.
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