Lead Acid Battery Market is Expected to Rise at a 5.3% CAGR from 2015 to 2021
Due to the improvement in the economy of Africa, there has been a rise in the purchasing power of individuals. In addition, there has been immense growth in the automobile sector. The demand for passenger vehicles has increased considerably and is set to grow further in the coming years. Therefore, the production of vehicles has increased due to the rise in demand for automobiles. This has resulted in the rise of lead acid battery manufacturing, thereby driving the growth of the Africa lead acid batteries market. The use of lead acid batteries in cars, buses, trucks, trains, and airplanes is supporting its growth in Africa.
Major automakers in the commercial vehicle segment are also focusing on producing hybrid and electric vehicles across different model ranges, which are set to use lead acid batteries as the power source Therefore, with the rise in demand for vehicles, the requirement for lead acid batteries is set to grow uniformly. All these factors are expected to boost the demand for lead acid batteries in the automotive sector. The increasing requirement for UPS systems and inverters in homes and industries are also driving the demand for lead acid batteries. The use of UPS systems and inverters is complementary to that of lead acid batteries. All UPS systems and inverters require batteries to function and lead acid batteries are among the most efficient energy storage sources for such devices.
The information Presented in this Review is Based on Press-Release by TMR
Their low cost and reliability are set to increase the demand of these batteries in the coming years, in Africa. However, materials used in the manufacturing process of lead acid batteries such as lead and sulfuric acid are hazardous substances, and require appropriate handling. The lack of recycling systems and collection can result in environmental pollution. Therefore, the governments of various countries including Africa have issued stringent norms and regulations relating to lead acid batteries. Such regulations set up for limiting the lead emission in lead batteries are inhibiting the growth of lead acid batteries in Africa, thereby driving demand for other environment friendly batteries.