China stationary lead acid battery market is expected to reach USD 4.55 billion by 2024, according
to a new report by Grand View Research, Inc. Rising demand for lead acid
battery in uninterruptible power supply (UPS) systems as they provide high
power density and enhanced life expectancy will propel market growth over the
forecast period. The growth of the commercial sector including theaters, malls,
and hotels & restaurants in China is expected to stimulate the product
demand on account of increasing government spending and FDIs. Rising emphasis
on energy security has resulted in increasing the establishment of power plant
installations over the past few years, and this trend is expected to continue
owing to the increasing population and improving infrastructure.
Telecommunication was the dominant segment
accounting for 40.6% of the overall revenue share in 2015 and will show steady
growth in light of rising need to manage wireless connection efficiently and
reduce data transmission losses.
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Further key findings from the report suggest:
· Off-grid renewable segment was valued at
USD 115.6 million and is projected to witness substantial gains over the forecast
period on account of growing number of off-grid installations in light of
government support, and increasing focus on improving living conditions in
rural areas by the private sector, social organizations, and communities
working. Moreover, the absence of an efficient grid system in remote villages
will fuel growth over the forecast period.
· Transportation infrastructure will witness
significant rise at a CAGR of 7.5% from 2016 to 2024 in light of the
announcement of an infrastructural development plan by the China Ministry of
Transport and the National Development and Reform Commission for the
development of rails (trackside), roads, marine buoys, aviation beacons and
tunnels.
· Abundant availability of lead acid battery
in various sizes and specifications along with high current level will augment
its demand over the upcoming years. Low-cost and easy availability of lead acid
batteries for different specifications coupled with excellent properties
including low maintenance, durability, low self-discharging, and high discharge
rate capability will lead to industry expansion over the next eight years. 100%
recyclability and simple extraction process of these batteries will increase
industry size over the next eight years.
· China stationary lead acid battery market
is highly competitive and fragmented in nature with the presence of numerous
large and small scale manufacturers. The industry is mainly dominated by key
participants including Narada Power Source Co., Ltd., GS Yuasa Corporation,
China Shoto, Leoch International Technology Limited and Fengfan Co., Ltd.
Ongoing product innovation to produce high-performance and cost-efficient
batteries is expected to fuel growth over the forecast period.
Grand View Research has segmented the China
stationary lead acid battery market on the basis of application:
China Stationary Lead Acid Battery Market
Application Outlook (USD Million, 2013 - 2024)
·
Utilities
·
Oil & Gas
·
Industries
·
Buildings
·
Transportation Infrastructure
·
Off-Grid Renewable
·
Telecommunication
About
Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco.
The company provides syndicated research
reports, customized research reports, and consulting services. To help
clients make informed business decisions,
we offer market intelligence studies ensuring relevant and fact-based research
across a range of industries, from technology to chemicals, materials and
healthcare.
For More Information: www.grandviewresearch.com
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