Global lead-acid battery market to grow at CAGR of 3.1 percent from 2010-2014

DUBLIN, IRELAND: Research and Markets has announced the addition of the "Global Lead-acid Battery Market 2011-2015" report to its offering.

One of the key factors contributing to this market growth is the emergence of absorbed glass mat lead-acid batteries. The Global Lead-acid Battery market has also been witnessing increasing investment in smart grid construction. However, the possibility of explosion could pose a challenge to the growth of this market.

Key vendors dominating this market space include Johnson Controls, Inc., Exide Technologies, GS Yuasa Corp., and EnerSys Inc.

An analyst from TechNavio's Clean Tech team said: "The governments of various countries have forecast that their nationwide energy demands will double within the next decade. As a result, various countries across the globe have started investing large amounts of money in smart grid technology in order to meet the huge demand for power by 2020. This increased investment in smart grid technology is leading to the growth of the Global Lead-acid Battery market. This is because lead-acid batteries can be used in vehicles such as EVs, which is one of the major sectors in the Smart Grid industry. Moreover, the usage of solar chargers for lead-acid batteries in EVs enables distributed power generation."

According to the report, another major technology that is in demand is the EV. Investments of up to US$15 billion have been made in smart grid electric vehicles trigger innovations in electric vehicle technology. This is a major trend affecting the Global Lead-acid Battery market.

The report also discusses that the lead-acid batteries are exposed to risk of explosion, which is a drawback for the growth of this market.