United States Lead Acid Battery Market to Cross $ 20 Billion by 2023
Increasing automobile sales,
development of solar energy projects, technological developments, and expanding
telecommunication network to drive United States lead acid battery market
through 2023
According to TechSci Research report “United
States Lead Acid Battery Market By Type, By Application, Competition
Forecast & Opportunities, 2013 – 2023’’, lead acid battery market in the United
States is projected to surpass $ 20 billion by 2023, majorly on account of
growing industrial and
automotive sectors in the country. Expanding telecommunications industry, increasing
number of solar energy
projects, growing railway network and upcoming freight
corridors are expected to
stimulate demand for lead acid batteries in the coming years across the
country. Moreover, growing investments in power transmission &
distribution sector coupled with technological enhancement to produce low
discharging batteries are expected to aid the market over the course of next
five years.
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Automotive
sector captured the largest share in the United States lead acid battery market
in 2017 and is expected to maintain its market dominance over the coming years
as well, on account of growing sales of automobiles in the country. SLI (Starting Lighting & Ignition) type
of lead acid batteries
dominate the market, on account of their wide usage in automobiles and growing
adoption of automatic start-stop systems in engines. Northeast region is the
largest demand generating region for lead acid batteries in the US, backed by
increasing automobile sales, growing investments in telecom sector and increasing
renewable energy installations in the region.
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“The
United States Department of Energy provides financial assistance to companies
to boost their production capacities to manufacture advanced VRLA
(valve-regulated lead-acid) batteries to serve the global vehicle market with
viable, safe, cost effective and recyclable battery products. Moreover,
technological developments aimed at using intelligent advanced lead acid
batteries in energy deficit regions in the country are likely to provide better
energy storage solutions in the United States. These market developments are
expected to positively influence the United States lead acid battery market in
the coming years.”, said Mr. Karan Chechi, Research Director with TechSci
Research, a research based global management consulting firm.
“United States Lead Acid Battery Market By
Type, By Application, Competition Forecast & Opportunities, 2013 – 2023”
has evaluated the future growth potential of the United States lead acid
battery market and provides statistics and information on market size,
structure and future market growth. The report intends to provide cutting-edge
market intelligence and help decision makers take sound investment decisions.
Besides, the report also identifies and analyzes the emerging trends along with
essential drivers, challenges and opportunities in the United States lead acid
battery market.
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