LEAD ACID BATTERY MARKET ANALYSIS

Market Concentration and Competitive Landscape

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The prominence of renewable sources of energy such as solar and wind has been rising across both developed and developing nations. For optimum utilization of power generated from intermittent renewable sources, large-scale energy storage is becoming indispensable. While technologies such as pumped hydro and lithium-ion batteries are also being adopted, lead acid batteries still offer a viable and cost-effective option for hundreds of megawatts of energy storage applications worldwide. Their ability to provide deep discharge cycles at an affordable upfront cost makes them suited for applications like rural electrification, microgrids and load balancing in power distribution systems. Major renewable energy product manufacturers are also integrating lead acid batteries into their portfolio to address the storage requirements of their solar panel and wind turbine offerings. This is expected to significantly contribute to the demand for lead acid batteries in the coming years.

For instance, in May 2023, C&D Technologies a technology company that produces and markets systems for the power conversion and storage of electrical power introduced the Pure Lead Max VRLA battery designed for data centres. This innovation, backed by an industry-leading eight-year warranty, features proprietary pure-lead technology, a catalyst design for extended life, and sustainability benefits through recycled materials. The battery promises up to 38% lower maintenance costs and a reduced footprint, emphasizing longevity and performance.