Motive Lead-Acid Battery Market 2015-2019
Covering: This market study report segments the global motive lead-acid battery market by application and includes segments like industrial forklifts, railroads, mining, and others. The market study also analyzes the key regions for this market, including Americas, EMEA, and APAC. Leading vendors in this market are Axion Power International, Exide Technologies, SBS, East Penn Manufacturing, HOPPECKE Batterien, MIDAC Batteries, Navitas System, and Trojan Battery.
Market outlook of the motive lead-acid battery market
Motive lead-acid batteries provide motive power to small transport vehicles like forklifts, golf carts, railroads, and mining vehicles. The global market for motive lead-acid batteries is positively influenced by the rapid increase in material handling and industrial production in regions like Asia, Europe, and the Middle East. These factors spur the prospects for growth in this market during the forecast period and results in its stable market growth rate of more than 7% by 2019.
Technavio’s market research analyst has estimated eminent factors, such as the increasing demand for forklifts applications, to drive market growth during the forecast period. Globally, it has been observed that lead-acid batteries power almost 70% of the total forklifts manufactured. Since lead-acid batteries aid in bringing down the total cost of ownership, their augmented implementation in forklifts is expected to bring about market growth in the next four years.Application-based segmentation and analysis of: industrial forklifts, railroads, miningIn this global market research, analysts estimate the industrial forklifts segment to dominate over all the other segments during the forecast period. This segment’s high market dominion can be attributed to the augmented demand for batteries from industries that manufacture motive vehicles like forklifts, hand pallets, and automated guided vehicles. By 2019, this segment is envisaged to increase its hold over the market and is estimated to account for close to 85% of the total market share.This market research offers an analysis of each of the following segments and discusses its impact on the overall market growth -
Technavio Announces the Publication of its Research Report – Global Motive Lead acid battery market 2015-2019
Technavio recognizes the following companies as the key players in the Global Motive Lead acid battery market: Axion Power International, Exide Technologies, SBS, East Penn Manufacturing, HOPPECKE Batterien, MIDAC Batteries, Navitas System and Trojan Battery
Other Prominent Vendors in the market are: Chloride Batteries S E Asia, Crown Batteries, GS Yuasa, Johnson Control, and Saft Batteries A.
Commenting on the report, an analyst from Technavio’s team said: “Vendors are looking to expand their current production capacities for lead-acid batteries to enhance their market presence. For instance, in 2015, GS Yuasa announced to expand its production capacity in Indonesia by the end of 2015 due to consistent economic growth in the country. Currently, the company has three operational plants in the country. With this expansion, the company aims to strengthen its supply system, thereby increasing market competitiveness.”
According to the report, the modern-day forklift has adapted itself well with advancing logistics industry. With increasing global industrial production demand, the material handling process has also been growing steadily. However, the material handling market is quite conservative and risk-averse. Warehouse operators need a reliable technology to ease the use of forklifts and ensure a speedy return on investment (ROI), preferably in two to three years.
Further, the report states that lack of charging infrastructure for golf cart is hindering the market growth.
Axion Power International, Exide Technologies, SBS, East Penn Manufacturing, HOPPECKE Batterien, MIDAC Batteries, Navitas System, Trojan Battery, Chloride Batteries S E Asia, Crown Batteries, GS Yuasa, Johnson Control, Saft Batteries A.