The global stationary lead-acid battery market will grow at a compound annual rate of nearly 9% from 2020 to 2024

The latest report released by Technavio, an international market research firm, shows that the global stationary lead-acid battery market size is expected to grow by US$4.86 billion from 2020 to 2024, with a compound annual growth rate of nearly 9% during the period.

The growth of telecom subscribers has driven the number of telecom tower installations. Most of the global telecom tower installations use lead-acid batteries as the battery cost is more competitive, supporting lower operating costs and lower cost of ownership. Therefore, the adoption of stationary lead-acid batteries in the telecom industry is high and the fixed lead-acid battery market share growth in this segment will be significant during the forecast period.

In 2019, Asia Pacific was the largest regional market for stationary lead-acid batteries in the world. The demand for OEM batteries, low cost of labor and raw materials, and timely delivery advantages are expected to drive manufacturers from the United States and other developed countries to shift their bases to Asia Pacific countries such as China during the forecast period, which will significantly drive the growth of the stationary lead-acid battery market in the region.

Overall, 61% of the market growth will come from the Asia-Pacific region during the forecast period. China, India, and Japan are the major markets for stationary lead-acid batteries in the Asia-Pacific region. The market growth in this region will be faster than that in other regions.

In Africa, most regions rely on off-grid telecom towers because of their weak infrastructure. Similarly, in North America (mainly in the United States), telecom tower and infrastructure operators are under pressure to reduce their carbon footprint. These countries are investing heavily to adopt renewable energy-based battery energy storage in the telecom industry.

In addition, telecom power system manufacturers are expanding their product portfolios with green telecom power systems. For example, in 2012, Eaton acquired Cooper Industries to combine its expertise in smart grids with its existing product portfolio. The growing demand for green energy in the telecom industry has attracted investments and funds for battery research and development, which is driving the growth of the global stationary lead-acid battery market. In addition, lead-acid batteries use 60%-80% recycled lead, because the energy consumption for processing recycled lead is less than that of original ore, which protects the environment from the toxic effects of lead and plastics and meets the price-sensitive requirements of end users.