Friday, 17 June 2016
Africa Lead Acid Batteries Market Driven by Increasing Demand for UPS Systems, Automobiles
Lead acid batteries are a highly robust and durable type of battery used in applications such as automotive electronics. The sturdy nature of lead acid batteries makes them perfect to be used in high-impact applications such as automotive electronics. Their high energy efficiency also means that they are highly utile in UPS systems and can provide steady power for long durations in residential, industrial, and commercial applications.
According to a report released recently by Transparency Market Research, the Africa lead acid batteries market was valued at US$708.6 mn in 2014. Exhibiting a robust 5.3% CAGR from 2015 to 2021, the Africa lead acid batteries market is likely to become a billion-dollar market by the end of the forecast period.
The primary drivers for the Africa lead acid batteries market are as follows:
Increasing Industrial Sector:
Africa is one of the least developed regions of the world and is only now starting to witness large-scale industrialization. This has resulted in a steady demand for UPS systems to keep industrial operations going in parts of Africa where continuous electricity is still unavailable. The widespread use of lead acid batteries in UPS systems has driven the Africa lead acid batteries market and will remain an influential factor in the market’s growth in the coming years.
Increasing Demand for UPS in Residential Units:
Along with rapid industrialization, Africa is also beginning to witness large-scale urbanization, as major cities such as Cape Town, Cairo, and Johannesburg become increasingly important in the context of the global economy. This has driven the construction industry in Africa and led to a growing demand for UPS systems using lead acid batteries.
Browse Press Release:
Increasing Demand for Automobiles:
The increasing disposable income of consumers in Africa has driven the region’s automotive industry, which has driven the demand for lead acid batteries. Lead acid batteries are widely used in automotive electronics due to their robust construction and high energy efficiency. This is expected to remain a crucial driver for the Africa lead acid batteries market in the coming years.