VALVE REGULATED LEAD ACID (VRLA) BATTERIES MARKET ANALYSIS

Regional Analysis

The presence of leading automobile companies which include Toyota, The Ford Motor Company, General Motors, and Fiat Chrysler Automobiles N.V. has augmented the demand for lead acid batteries in North America. According to the International Trade Association, exports of automotive parts from the U.S has shown a steady growth from US$ 5 billion in 2012 to US$ 7.2 billion by 2015.

Asia Pacific is expected to witness high growth in the global valve regulatory lead acid market, due to increasing demand from automobile industry, and for application in telecommunication infrastructure, solar and IT industries. Demand for lead acid batteries is increasing from China, owing to increasing adoption in automobile, automotive, low-speed electric vehicle, and communications applications. According to India Brand Equity Foundation (IBEF), in automobile industry, the domestic two wheeler sale was 16.0 million in 2016 and expected to reach 50-55 million by 2026. This is expected to aid in growth of the market in the region. Growing inclination towards pollution-free electric vehicles coupled with technological developments is expected to fuel demand for this in the near future.