Technavio market research analysts forecast the lead-acid battery market in Southeast Asia to grow at a CAGR of close to 9% during the forecast period, according to their latest report. The market study covers the present scenario and growth prospects of the lead-acid battery market in Southeast Asia for 2017-2021.
The report identifies East Penn Manufact-uring, EnerSys, Exide Technologies, Yuasa, and C&D Technologies as the key vendors in the lead-acid battery market in Southeast Asia. A comprehensive analysis of this market is also presented by application (stationary, automotive, and motive) and product type (VRLA batteries and FLA batteries).
Research analysis on the lead-acid battery market in Southeast Asia identifies that the improved consumer spending will be one of the major factors that will have a positive impact on the growth of the market. Technavio’s market research analysts predict that this market will grow at a CAGR of above 8% by 2021. The rise in urbanization and the growing number of earning members in a family have resulted in an increase in disposable incomes. There is a growth in the household expenditure in Southeast Asia especially for purchasing products such as automobiles, power tools, and gardening equipment. Since most of these equipment require lead-acid batteries, the demand for these batteries will increase in Southeast Asia.
The growth in high-speed rail networks across the world is one of the latest trends that will gain traction in the lead-acid battery market in Southeast Asia. The emerging countries in APAC such as China, India, Bangkok, Thailand, and Malaysia are witn-essing huge investments towards high-speed rail network projects. China and India are increasingly offering high-speed rail networks to cater to the needs of the rising population. This shift from standard railway lines to high-speed rail tracks in developing countries will increase the need for lead-acid batteries. The lead-acid battery market in Southeast Asia consists of many regional and local vendors. The lead-acid batteries market in Southeast Asia is in the growth stage is highly competitive. The vendors are increasingly making efforts to achieve better sales numbers and establish distribution networks to sustain the competition notes the research firm.
During 2016, the stationary segment acc-ounted for the major shares of the lead-acid battery market in Southeast Asia. Factors such as their cost-effectiveness and the wide range of usage in the telecommunication and data communication industries, will contribute to the growth of this industry segment in the coming years.
According to this market research report, the VRLA batteries segment will account for the maximum shares of the lead-acid battery market in Southeast Asia until 2021. This is mainly attributed to the increasing demand for sealed maintenance batteries in the developing countries, the rising usage of UPS, and the increasing sales of golf carts.
The microgrid the research firm said it is a small-scale, localized power station than can either operate independently or in congruence with the main central grid. As a way to incorporate renewables, microgrid often involves multiple energy resources such as solar, wind, biomass, geothermal, and fossil fuel generators. With the integration of renewable power sources, it can function as hybrid and operates independently to supply power to a local community, a university, or a military base among others.
A microgrid is connected to the central grid as a single point of load and usually accompanied by energy storage systems to address the intermittency of the renewables, and the entire network is managed by an energy management system.
“Microgrids are more resilient to natural calamities than traditional grids and provide power to a limited geography when the main grid fails. A major portion of rural and remote areas in Southeast Asia are yet to have access to electricity. With the growing deployment of microgrids in Southeast Asia, the market for lead-acid batteries is likely to grow,” says Thanikachalam Chandra-sekaran, a lead analyst at Technavio for energy storage research.