The report recognizes the following companies as the key players in the Global Industrial Lead Acid Battery Market: C&D, Coslight, EnerSys, HOPPECKE, Leochm, NorthStar, Narada and Saft
Commenting on the report, an analyst said: “Grid energy storage refers to the large-scale storage of electricity in power grids. In the last three to four years, the demand for lead-acid batteries in grid energy storage has increased in response to rising fluctuations in the supply and demand for electricity. Lead-acid batteries can store excess power for use during peak hours of demand. In the past two to three years, growth in renewable energy production, especially in wind and solar energy, has led to an increased need for grid energy storage.”
According to the report, industrial motive applications such as forklifts, tow tractors, and order pickers require lead-acid batteries to operate. Global industrialization has intensified competition among existing industrial manufacturers, prompting them to increase efficiency and manufacture products faster. Forklifts and other motive machines provide faster, efficient, and smoother operation. The use of forklifts increases the speed and of production and load-handling capacities in warehouses, increasing the number of products per shift and making a company’s processes more efficient. The demand for industrial forklifts should increase with the growth of global industrial production over the forecast period. As most industrial forklifts use battery-powered electric drive systems, increased industrial motive applications bodes well for the lead-acid battery market.
Further, the report states that threat of substitutes is a major challenge hindering this market.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
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Source: ASDReports - Market Research
Date: Sep 7, 2015