The Asia-Pacific lead-acid battery market accounted for the highest revenue share of $XX million in 2018. The region is expected to continue its reign over the forecast period of 2019-2027, generating $XX million by its end. The dominant market share in the automotive sector along with the production and manufacturing of electric bicycles and vehicles in the region are responsible for driving the market growth ahead.
Countries like Japan, China and South Korea are contributing significantly to the Asia-Pacific market growth. The contribution by China is found to be the highest as the market is increasingly focused on developing better energy storage. By doing so, the nation has increased its share in renewable energy. Thus, it is safe to say that the rising demand for energy storage in renewables, data center, UPS and automotive applications in China are chiefly responsible for propelling the regional market growth. Also, growing sales of automobiles in China and India are considerably aiding the expansion of the Asia-Pacific market. The establishment of many multinational organizations such as Honda and Toyota in Japan as their home base has also fueled the demand of lead acid batteries as they are used in both the traditional multi-systems cars and micro hybrid cars. Moreover, the investments made by the private organizations for their expansion to plant capacities in Indonesia will be providing more opportunities for the market growth.
Some of the noticeable players in this market are B.B. Battery Co., Toshiba Corporations, Nipress (Indonesia), Reem Batteries & Power Appliances Co. SAOC, C&D Technologies, Inc. (Acquired by KPS Capital Partner), East Penn Manufacturing, GS Yuasa Corporation, Johnson Controls Inc., Narada Power Source Co. Ltd., Crown Battery, CSB Battery Company Ltd., Northstar, Zibo Torch Energy Co. Ltd., EnerSys and Exide Technologies Inc.