Thursday, May 27, 2021 01:26 AM

LEAD ACID BATTERY MARKET: TECHNOLOGICAL INNOVATIONS EMPOWERING THE IN AUTOMOTIVE INDUSTRY BY 2026 – FLA NEWS - FLA NEWS

Global leadacid battery market size was valued at $39.7 billion in 2018, and is projected to reach $59.7 billion by 2026, growing at a CAGR of 5.24% from 2019 to 2026. Lead is the key component in leadacid batteries, which is soft in nature, therefore, a couple of other additives such as antimony, tin, calcium, and selenium are added to it. These additives are added to get extra mechanical strength and electrical properties. Although lead is hazardous in nature, it is recycled that further prevents environmental damage. This is the reason why leadacid batteries are capable of meeting sustainable norms.

The battery is rechargeable and is composed of lead-oxide cathode, sponge metallic lead anode and sulfuric acid solution electrolyte, utilized as a cost-effective power storage solution.Cost efficient energy storage solutions and recyclable nature of lead-acid batteries over lithium-ion batteries drive the global lead-acid battery market. However, emerging and existing alternatives to this type of battery hinder the market growth. However, the requirement for expanding data centers create new opportunities in the industry.

The automotive sector held the highest share of the global lead-acid battery market, holding nearly three-fifths of the total market in 2018, and is projected to maintain its lead position ...

News source: GOOGLE NEWS

See also: Lyle Industries