The global lead-acid battery market size is expected to grow by USD 10.26 billion during 2020-2024, progressing at a CAGR of over 4% during the forecast period. Download latest version with COVID-19 analysis Free Sample Report
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Technavio has announced its latest market research report titled Global Lead-acid Battery 2020-2024 (Graphic: Business Wire)
The focus on renewable energy generation is one of the major factors propelling market growth.
The continuous rise in global energy demand, clean energy initiatives, and subsidies for power generation using sustainable sources is promoting the use of renewable energy sources such as solar and wind. Moreover, renewable energy sources are clean, inexhaustive, less-carbon intensive, and more sustainable compared to fossil fuels. The governments are also undertaking several initiatives to mitigate GHG emissions, which are leading to the shift from conventional sources of energy to renewables to