Global lead battery market set for decade of growth, says new industry data
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Lead carbon battery storage in operation in Saxony, Germany. Photo: Upside Group
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Lead batteries are set to remain a potent global force over the next decade and pack a powerful economic punch, latest industry analysis shows.
The global lead battery market is expected to grow from 360 GWh in 2020 to 468 GWh in 2031, according to independent analysis of lead battery market data and future forecasts from Avicenne Energy – commissioned by the Consortium for Battery Innovation (CBI), the global advanced lead battery research group.
According to the report, the 12V lead battery market is forecast to grow from 297 GWh in 2020 to 333 GWh by 2030. The value of the market is expected to increase by $31.9bn (£23.5bn) by 2030 – representing a compound annual growth rate (CAGR) of +6% between 2015 and 2030.
'Dominant technology'
In telecoms, lead batteries are set to "remain the dominant technology for telecom back-up demand”, with a growth of 5 GWh predicted between 2015 and 2030.
And in the UPS battery sector, lead batteries are forecast to "dominate the market” – providing 92% of demand, with a 7.5 GWh increase predicted between 2015 and 2030.
In the motive power market, lead batteries represent 90% of motive power battery demand, in applications such as forklift trucks. The market is predicted to grow to 34.3 GWh by 2030.
Meanwhile, global demand for battery energy storage is predicted to grow to 20 GWh by 2025, the report said. "Lead batteries will be essential to this demand and are already playing a crucial role for utility and renewable energy storage worldwide.”
Details of the report are on the CBI’s website – click on the link below:
CBI
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The global lead battery market is expected to grow from 360 GWh in 2020 to 468 GWh in 2031, according to independent analysis of lead battery market data and future forecasts from Avicenne Energy – commissioned by the Consortium for Battery Innovation (CBI), the global advanced lead battery research group.
According to the report, the 12V lead battery market is forecast to grow from 297 GWh in 2020 to 333 GWh by 2030. The value of the market is expected to increase by $31.9bn (£23.5bn) by 2030 – representing a compound annual growth rate (CAGR) of +6% between 2015 and 2030.
'Dominant technology'
In telecoms, lead batteries are set to "remain the dominant technology for telecom back-up demand”, with a growth of 5 GWh predicted between 2015 and 2030.
And in the UPS battery sector, lead batteries are forecast to "dominate the market” – providing 92% of demand, with a 7.5 GWh increase predicted between 2015 and 2030.
In the motive power market, lead batteries represent 90% of motive power battery demand, in applications such as forklift trucks. The market is predicted to grow to 34.3 GWh by 2030.
Meanwhile, global demand for battery energy storage is predicted to grow to 20 GWh by 2025, the report said. "Lead batteries will be essential to this demand and are already playing a crucial role for utility and renewable energy storage worldwide.”
Details of the report are on the CBI’s website – click on the link below:
CBI
Related articles in our archive: