Published Date: April 1, 2020
Indonesia & Malaysia Lead Acid Battery Market size is expected to surpass USD 1.4 Billion by 2026, as reported in the latest study by Global Market Insights Inc.
The Indonesia & Malaysia lead acid battery industry is anticipated to witness strong growth on account of rising demand for high performance energy storage solutions. Superior storage capacity, minimal maintenance requirement, and improved safety are some of the eminent factors favoring the market growth. In addition, the ability of a lead battery to function as a reliable energy storage solution across multiple applications and competitive price index are some of the prominent market factors which will help sustain their dominance over the forecast timeframe. However, the global economic slowdown caused by the COVID-19 pandemic will negatively affect the industry statistics in 2020.
A lead acid battery is the preferred energy storage solution across the automotive industry and is primarily characterized by the 12V Starting-Lighting-Ignition (SLI) batteries. These units have experienced multiple innovations in response to the evolving requirements in terms of functionality, fuel economy, durability, and cost. Over the years, investments across the automobile manufacturing sector have increased on account of favorable policies and highly competitive business environment, thereby driving the market growth. For instance, Government of Malaysia introduced National Automotive Policy framework in 2014 with an aim to promote the domestic automotive industry. The key market players across the automotive industry are investing aggressively toward the development of engine & transmission plants, headquarters, R&D labs, administrative and other facilities to effectively cater to growing demand for automobiles.
Browse key industry insights spread across 180 pages with 124 market data tables & 54 figures & charts from the report, “Indonesia & Malaysia Lead Acid Battery Market Outlook By Application (Stationary {Telecommunications, UPS, Control & Switchgear}, Motive, SLI {Automobiles, Motorcycles}), By Construction (Flooded, VRLA), By Sales Channel (OEM, Aftermarket), Industry Analysis Report, Country Outlook, Application Potential, Price Trend, Competitive Market Share & Forecast, 2020 – 2026”in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/indonesia-and-malaysia-lead-acid-battery-market
VRLA based lead acid battery units have witnessed increased market demand and wide acceptance across the industry on account of their ability to provide high-power density and low rates of self-discharge. In addition, ease of installation and minimal maintenance are some of the key features complementing the deployment of these products. In the past few years, the telecommunications sector has witnessed significant growth subjected to the increasing consumer base of tablets and smartphones. The growing necessity of a reliable telecom network will further boost the industry statistics of VRLA based lead acid battery units in the forthcoming years.
The market demand of lead acid battery units across OEM sales channel is set to witness substantial growth on account of growing production of automotive vehicles across Indonesia and Malaysia. For instance, Indonesia automotive production exceeded 1.2 million units in 2019, registering a growth of over 17% when compared with 2015 levels. Furthermore, the rising investments to expand the production base along with growing vehicle sales across the country driven by strong economic growth and elevating purchasing power will strongly favor the Indonesia & Malaysia lead acid battery market demand.
The ongoing industrialization along with favorable FDI inflows scenario will enhance the market demand of lead acid battery units across utility and telecommunication industries. The country has become one of the major investment hotspots across the South East Asia and anticipated to witness a steady growth over the forthcoming years. In addition, the expanding automotive sector and rising number of on road vehicles will complement the market growth of lead acid battery units across Malaysia.
Eminent players operating across Indonesia & Malaysia lead acid battery market comprise of Clarios, GS Yuasa Corporation, C&D Technologies Inc., Leoch International Technology Limited Inc., Century Batteries Indonesia, HOPPECKE Batterien GmbH & Co. KG., Coslight Technology International Group Ltd., GPA Holdings Berhad, EnerSys amongst others. New technological innovations and mergers are few significant initiatives undertaken by key market players to sustain a competitive edge over other industry participants.
Ankit Gupta, Nikhil Paranjape