Lead Acid Battery Market Segmentation:
End-user Segment Analysis
The global lead acid battery market is segmented and analyzed for demand and supply by end users into automotive, oil & gas, utilities, telecommunications, construction, marine, and others. Out of the seven end users of lead-acid batteries, the telecommunications segment is estimated to gain the largest market share over the projected time frame. The growth of the segment can be attributed to the rising adoption of mobile phones, followed by the rapid penetration of the internet all across the world. Today, there are more than six billion smartphone subscriptions globally, and in the coming years, that figure is expected to increase by several hundred million more. The nations with the most smartphone users are China, India, and the United States. In addition to this, around 5 billion people used the internet as of January 2023, or approximately 64% of the world's population. Of this total, over 4 billion people, or nearly 60% of the world's population, used social media.
Application Segment Analysis
The global lead acid battery market is also segmented and analyzed for demand and supply by application into portable, and stationary. Amongst these two segments, the portable segment is expected to garner a significant share. Portable lead acid batteries are highly used in electric vehicles, and they are dragged and deployed at the construction for powering tools. In 2021, sales of electric vehicles doubled to 6.6 million across the globe. Additionally, sales of electric vehicles increased significantly through 2022, reaching 2 million worldwide in the first quarter, a three-quarter increase from the same period a year earlier. Furthermore, the batteries were suitable for powering electric shovels, hand tools, and other equipment on the construction site.
Our in-depth analysis of the global market includes the following segments:
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