Selbyville, Delaware, United States, September 7 2020 (Wiredrelease) Global Market Insights, Inc –:A research report by Global Market Insights, Inc., forecasts that Indonesia & Malaysia lead-acid battery industry size would reach USD 1.4 billion by the end of 2026, given the rising demand for active energy storage technology for crucial power applications.
The expanding transportation sector has brought about a revolution in the worldwide lead acid battery industry, which is currently gaining massive traction all across the globe, and particularly in the Asia Pacific region.
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Advancements in the packaging of batteries and their construction, robust storage capacities and the durability have opened up significant avenues for numerous uses of these batteries across a widespread application spectrum ranging from automobiles to telecommunication and switchgears. In fact, estimates by ITRI claim that the overall battery markets are set to grow at 7.7 per cent through 2020, with lead-acid battery market depicting a commendable growth rate.
Across the automotive sector, lead acid batteries allow the operation of most basic features in vehicles like the engine start/stop, lighting, powering the entertainment unit, and carrying out host of other inbuilt facilities. In line with this, the batteries also enable heavy and commercial vehicles to perform industrial tasks, for example, operating lifts for loading and unloading the goods. Moreover, rising automobile production and sales in the APAC region, including Malaysia and Indonesia, would offer lucrative growth opportunities for the leaders operating in the lead acid battery market to invest heftily in sustaining their geographical presence in the global market.
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Unveiling lead acid battery industry trends across:
The automotive battery market in Malaysia is experiencing a highly competitive scenario in the domestic market owing to the ever rising automobile sales in the region. As per the statistics by OICA, Malaysia witnessed total automobile sales of more than 5 lakh in 2019, aiding to the growing requirement for lead acid batteries. Surging demand for these batteries across the industrial sectors would also aid to the Malaysia lead acid battery market.
Like in Indonesia, companies operating in the lead acid battery realm in Malaysia are as well looking for ways to expanding their reach in different geographies of the world.
Impact of COVID-19 on Indonesia and Malaysia lead acid battery market
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The recent outbreak of COVID-19 pandemic has brought about a disruption in the global economy as well as various businesses around the globe. Moreover, the infectious disease, which has claimed early more than 2.5 lakh lives till date, has also halted the automobile production and sales across various geographies of the world, thereby impeding the growth of Indonesia and Malaysia lead battery industry. However, post stabilization of the global economy, lead acid battery market across Indonesia and Malaysia would amass substantial gains in the upcoming years.
Table of Contents:
Chapter 5 Lead Acid Battery Market, By Construction
5.1 Lead acid battery market share by construction, 2019 & 2026
5.2.1 Lead acid battery market from flooded, 2015 – 2026
5.2.2 Lead acid battery market from flooded, by country, 2015 – 2026
5.3.1 Lead acid battery market from VRLA, 2015 – 2026
5.3.2 Lead acid battery market from VRLA, by country, 2015 – 2026
Chapter 6 Lead Acid Battery Market, By Sales Channel
6.1 Lead acid battery market share by sales channel, 2019 & 2026
6.2.1 Lead acid battery market from OEM, 2015 – 2026
6.2.2 Lead acid battery market from OEM, by country, 2015 – 2026
6.3.1 Lead acid battery market from aftermarket, 2015 – 2026
6.3.2 Lead acid battery market from aftermarket, by country, 2015 – 2026
Partial Table of Contents (ToC) of the report:
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