China Stationary Lead Acid Battery Industry Overview
The China stationary lead-acid battery market size was valued at USD 2.4 billion in 2015. The product will witness significant demand from various end-use industries including oil & gas, nuclear power, electricity generation, construction, hospitality, banking, manufacturing, mining, transport infrastructure, and off-grid renewable.
An easy manufacturing process coupled with the requirement of low-cost equipment will drive the demand over the forecast period. Increasing demand for lead-acid batteries as they provide high surge currents and energy densities will spur industry growth. Moreover, its advantages such as durability, dependability, low maintenance costs, and high discharge rate are expected to increase its preference over Li-ion and NiCd batteries.
Gather more insights about the market drivers, restrains and growth of the China Stationary Lead Acid Battery Market
Increasing investment by battery manufacturers coupled with the growing number of off-grid renewable projects, manufacturing facilities, and commercial buildings in China is likely to stimulate industry growth.
The increasing demand for stationary lead-acid batteries in off-grid renewable energy generation for storing energy is expected to augment industry expansion. Rising product usage in renewable energy systems will open new market avenues over the forecast period.
The presence of big telecom players such as China Telecom, China Unicom, and China Mobile coupled with the growing population will augment the demand for the product over the next eight years.
Increasing consumption of UPS systems in buildings such as hospitals, banks, offices, data centers, and educational institutions for power backup & storage will promote industry growth over the next eight years. In addition, their ability to provide an uninterrupted power supply is a crucial factor for the development of the market.
High adoption of lead-acid batteries in Energy Storage Systems (ESS) including stand-alone systems with PV, emergency power supply systems, and battery systems for mitigation of output fluctuations from the wind and solar energy will augment demand over the forecast period.
Growing usage of Li-ion batteries in solar power and railway industries is also expected to impact the demand over the forecast period adversely. Moreover, volatile raw material prices will hinder industry expansion over the upcoming years.
Various manufacturers are focusing on R&D for the development of environment-friendly products that are economical and offer better efficiency which in turn will open new market avenues over the forecast period. Ease of recyclability along with less operational expenses will further increase market size over the upcoming years.
Moreover, offshore platforms’ sub-sea exploration and on-shore production operations require versatile, maintenance-free, efficient, and lightweight batteries, therefore Li-ion batteries are preferred over lead-acid batteries. However, distribution infrastructure and refineries utilize lead-acid batteries in light of their low cost which is expected to fuel the market growth over the forecast period.
China has planned to continue increasing its natural gas supply to replace coal consumption over the upcoming years. Furthermore, China government’s shale gas policy “First Shale Gas Industrial Policy” intended for rapid promotion of rapid development of the shale gas industry is expected to open new market opportunities.
The presence of key oil and gas companies including CNOOC, Geo-Jade Petroleum, China National Petroleum Corporation, Sinopec, CITIC Resources, Shaanxi Yanchang Petroleum, and Sinochem Group is likely to drive market growth.
Browse through Grand View Research’s Power Generation & Storage Industry Research Reports.
- Battery Market – The global battery market size was valued at USD 108.4 billion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 14.1% from 2020 to 2027. The market growth is attributed to the high demand for automotive applications. The automotive application includes rechargeable batteries used in non-rechargeable batteries and electric vehicles.
- Energy Storage Systems Market – The global energy storage systems market demand was valued 211.24 GW in 2021 and is progressing at a compound annual growth rate (CAGR) of 11.0% from 2022 to 2030. Growing demand for efficient and competitive energy resources is likely to propel market growth over the coming years.
China Stationary Lead Acid Battery Market Segmentation
Grand View Research has segmented the China stationary lead acid battery market on the basis of application:
China Stationary Lead Acid Battery Market Application Outlook (USD Million, 2013 – 2024)
- Oil & Gas
- Transportation Infrastructure
- Off-Grid Renewable
Market Share Insights
- March 2016: GS Yuasa Corp introduced the “SLR-1000” lead-acid battery for solar application, which can handle 5,000 charge-discharge cycles, along with a rated capacity of 1,000 Ah.
- May 2013: East Penn Manufacturing introduced Deka Fahrenheit, a heat-tolerant VLRA to withstand uncontrolled temperatures, reduce the cost incurred, and for energy conservation in the marine segment.
Key Companies profiled:
Some prominent players in the china stationary lead acid battery market include
- GS Yuasa Corporation
- Leoch International Technology Ltd.
- Narada Power Source Co., Ltd.
- Fengfan Co. Ltd.
- China Shoto
- Johnson Control
- Exide Technologies
- Fujian Quanzhou Dahua Battery Co., Ltd
- C&D Technologies
- B.B. Battery Co., Ltd.
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