September 08, 2020
According to the research report titled ‘Indonesia & Malaysia Lead Acid Battery Market Size By Application, By Construction, By Sales Channel, Industry Analysis Report, Country Outlook, Application Potential, Price Trend, Competitive Market Share & Forecast, 2020 – 2026’, available with Market Study Report LLC, Indonesia & Malaysia lead acid battery industry is expected to register significant growth and generate lucrative returns between 2020 - 2026.
Cost-effective nature of lead acid batteries and their widespread adoption in submarines, trucks, forklifts and automobiles are major factors driving the growth of the market in Indonesia and Malaysia. Lead acid batteries use lead peroxide as well as sponge lead in order to convert chemical energy into electricity. Although relatively big in size, they can store high volume of energy.
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Rising adoption of lead acid batteries in power stations owing to their low cost and high cell voltage properties is further aiding the market expansion. These batteries can be used for rechargeable battery purposes including restarting car engines, and thus have a strong technical base.
Increasing awareness pertaining to advantages of lead acid batteries such as ability to provide high current, resistant to overcharging, reliability, and affordability are augmenting the industry remuneration. These batteries are available in various sizes and capacities and have a relatively long shelf-life.
In terms of application scope, the report states that motive segment is expected to grow substantially during the forecast period. Rising adoption of lead acid batteries in forklifts, golf carts, and other electric vehicles is fostering the product demand.
Moving on to construction type, the VRLA segment is predicted to expand significantly in the ensuing years. Ongoing development and advancements in energy storage technologies are fueling the segmental share.
Regionally, the report states that Indonesia will emerge as a major revenue generator for lead acid batteries market in the upcoming years. Rapid expansion of distribution networks and aftermarket is stimulating the industry outlook in the region.
The major companies operating in lead acid battery market in Indonesia as well as in Malaysia are Vin Battery Supplies, Century Motolite Battery Sdn. Bhd., GS Yuasa Battery Malaysia Sdn Bhd, ABM Fujiya Berhad, Tri Mega Baterindo, PT GS Battery, PT Trimitra Baterai Prakasa, B.B. Battery Co. Ltd., PT. Indobatt Industri Permai, Nipress Tbk, Century Batteries Indonesia, Mutlu Battery, Amara Raja Batteries Limited, Exide Industries Limited, EnerSys, Shandong Sacred Sun Power Sources Co. Ltd., Furukawa Battery Co. Ltd., Cosmos Electronics (M) Sdn Bhd, Yokohama Industries Berhad, GPA Holdings Bhd, Coslight Technology International Group Co. Ltd., Hoppecke GmbH & Co. KG, Leoch International Technology Ltd. Inc., C&D Technologies Inc., GS Yuasa Corporation and Clarios LLC among others.