Lead Acid Battery Market Regional Analysis:
APAC Market Insights
Asia Pacific region is anticipated to hold over 54.9% market share by 2035, attributed to rising power shortages and increasing capacity of off-grid power systems. The intense heatwave in 2023 coincided with the greatest power outage in more than six years. Indians from all across the nation including Jammu and Kashmir to Andhra Pradesh are experiencing power outages that range anywhere from two hours to eight hours or longer. Furthermore, in 2021, China's off-grid renewable energy capacity increased by almost 5% to 906.23 gigawatts. Besides this, the market growth in the region is also attributed to rising in the number of lead acid battery importers. The Ministry of Environment, Forest & Climate Change (MoEFCC) / Central Pollution Control Board has registered 82 importers of lead acid batteries under Rule 5 of the Batteries (Management & Handling) Regulations, 2001.
North American Market Insights
The North American lead acid battery market, amongst the market in all the other regions, is also predicted to hold the second largest market share by the end of 2035. The market growth in the region is expected on the account of the rising use of lead-acid batteries for battery backup in case of power outages. Several catastrophic weather events in 2021 put pressure on the electricity grids in the United States. On average, households lost power for seven hours and twenty minutes, with severe weather events such as hurricanes, wildfires, and snowstorms accounting for more than five of those hours, or about seventy-two percent.
