Lead Acid Battery Market in Bangladesh: 6.30% Y-O-Y Growth Rate in 2022 | By Type (sealed and flooded) and Application (stationary and mobile) | Growth, Trends, and Forecasts (2022

NEW YORK, Feb. 25, 2022 /PRNewswire/ — The Lead Acid Battery Market Share in Bangladesh is expected to increase by USD 75.98 million from 2021 to 2026, at an accelerated CAGR of 6.75%, according to the recent market study by Technavio.

Technavio has announced its latest market research report titled Lead Acid Battery Market in Bangladesh by Type and Application – Forecast and Analysis 2022-2026

Segmentation by Type (In-Scope/Out-of-Scope)

The lead acid battery market share growth in Bangladesh by the sealed segment will be significant during the forecast period. The increasing use of mobile applications is driving the demand for sealed lead acid batteries. Gel batteries have a higher resistance to shock, temperature, and vibration than other lead acid batteries. Owing to the performance advantage over other lead acid battery types, gel batteries cost higher than AGM and FLA batteries. These batteries are ideal for mobile and deep-cycle applications, which require constant current and are generally used in electric vehicles (EVs), golf carts, and material handling equipment.

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Moreover, the report also provides Value Chain Analysis which helps companies gain a competitive advantage in the market. The Value Chain of the Lead Acid Battery Market in Bangladesh includes the following core components:

Highlights-

  • Segmentation- The report extensively covers market segmentation by Type (sealed and flooded) and Application (stationary and mobile)

  • Key Companies- Dongjin Group, Energy System Co., Exide Industries Ltd., Impress Corp. Ltd., Okaya Power Pvt. Ltd., Panna Battery Ltd., Rahimafrooz (Bangladesh) Ltd., SARBS Communications Ltd., Skyline Electronics Inc., and Universal Power Group Inc. among others

  • Driver- Growing investments in automotive industry to drive the market

  • Challenge– Declining costs of lithium-ion batteries to hamper the market growth

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Vendor Insights-

The lead acid battery market in Bangladesh is concentrated and the vendors are deploying growth strategies such as focusing on improving their sales, distribution, and working capital effectively to compete in the market.

  • Dongjin Group- The company offers lead acid batteries such as UPS battery, LiFePO4, Dongjin tricycle battery, Dongjin E-bike battery, and Dongjin EV battery.

  • Energy System Co.- The company offers a wide range of lead acid batteries such as 7.2 Ah Battery, 9 Ah Battery, 40 Ah Battery, 120 Ah Battery, and 150 Ah Battery.

  • Impress Corp. Ltd.- The company offers lead acid batteries such as CSB batteries, Fiamm batteries, Leoch batteries, and Rocket batteries.

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Learn More about Key Driver & Challenge of the Market-

Lead acid batteries are mainly used for starting, lighting and ignition (SLI) and start/stop applications in automobiles and have high adoption in the automotive industry due to their low-cost advantage over other battery chemistries and mature technology. The demand for lead acid batteries from the automotive industry is increasing due to the robust demand for automobiles across Bangladesh. Factors such as the growing population and increasing urbanization positively impact the automotive industry and drive the demand for and production of automobiles. The growth in production volumes of automobiles is the result of the rising demand from consumers and is driving the growth of the lead acid battery market in Bangladesh.

Lead acid batteries are preferred to lithium-ion batteries mainly because of their low cost. In addition, lead acid batteries can provide a high burst of instantaneous power required for cranking applications in automobiles. However, lithium-ion batteries offer several advantages over lead acid batteries. Lithium-ion batteries can offer superior performance owing to their advantages, such as higher current density, more extended power-holding capacity, and longer shelf life when compared with lead acid batteries. Thus, they witness a high preference among end-users. The cost gap between the battery chemistries has declined rapidly during the past decade owing to the improved production scale and manufacturing efficiency. Owing to the decline in the manufacturing costs of lithium-ion batteries, the adoption of these batteries is increasing in all battery applications, which is affecting the demand for lead-acid batteries.

Find additional information about various other market Drivers & Challenges mentioned in our FREE sample report.

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Lead Acid Battery Market in Bangladesh Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 6.75%

Market growth 2022-2026

$ 75.98 million

Market structure

Concentrated

YoY growth (%)

6.30

Regional analysis

Bangladesh

Performing market contribution

Bangladesh at 100%

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

Dongjin Group, Energy System Co., Exide Industries Ltd., Impress Corp. Ltd., Okaya Power Pvt. Ltd., Panna Battery Ltd., Rahimafrooz (Bangladesh) Ltd., SARBS Communications Ltd., Skyline Electronics Inc., and Universal Power Group Inc.

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period,

Customization preview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Table of Contents

1. Executive Summary

1.1 Market Overview

Exhibit 01: Key Finding 1

Exhibit 02: Key Finding 2

Exhibit 04: Key Finding 6

2. Market Landscape

2.1 Market ecosystem

2.1.1 Parent Market

Exhibit 05 Parent market

Exhibit 06: Market characteristics

2.2 Value Chain Analysis

Exhibit 07: Value Chain Analysis: Renewable Electricity

2.2.1 Inputs

2.2.2 Operations

2.2.3 Distribution and logistics

2.2.4 Marketing and sales

2.2.5 Aftermarket and service

2.2.6 Industry innovations

3. Market Sizing

3.1 Market definition

Exhibit 08: Offerings of vendors included in the market definition

3.2 Market segment analysis

Exhibit 09: Market segments

3.3 Market size 2021

3.4 Market outlook: Forecast for 2021 – 2026

Exhibit 10: Global – Market size and forecast 2021 – 2026 ($ million)

Exhibit 11: Global market: Year-over-year growth 2021 – 2026 (%)

4. Five Forces Analysis

4.1 Five Forces Summary

Exhibit 12: Five forces analysis 2021 – 2026

4.2 Bargaining power of buyers

Exhibit 13: Bargaining power of the buyer

4.3 Bargaining power of suppliers

Exhibit 14: Bargaining power of the supplier

4.4 Threat of new entrants

Exhibit 15: Threat of new entrants

4.5 Threat of substitutes

Exhibit 16: Threat of substitutes

4.6 Threat of rivalry

Exhibit 17: Threat of rivalry

4.7 Market condition

Exhibit 18: Market condition – Five forces 2021

5. Market Segmentation by Application

5.1 Market segments

Exhibit 19: Application Market share 2021 – 2026 (%)

5.2 Comparison by Application

Exhibit 20: Comparison by Application

5.3 Stationary – Market size and forecast 2021-2026

Exhibit 21: Stationary – Market size and forecast 2021-2026 ($ million)

Exhibit 22: Stationary – Year-over-year growth 2021-2026 (%)

5.4 Mobile – Market size and forecast 2021-2026

Exhibit 23: Mobile – Market size and forecast 2021-2026 ($ million)

Exhibit 24: Mobile – Market size and forecast 2021-2026 ($ million)

5.5 Market opportunity by Application

Exhibit 25: Market opportunity by Application

6 Market Segmentation by Type

6.1 Market segments

Exhibit 26: Type Market share 2021-2026 (%)

6.2 Comparison by Type

Exhibit 27: Comparison by Type

6.3 Sealed – Market size and forecast 2021-2026

Exhibit 28: Sealed – Market size and forecast 2021-2026 ($ million)

Exhibit 29: Sealed – Year-over-year growth 2021-2026 (%)

6.4 Flooded – Market size and forecast 2021-2026

Exhibit 30: Flooded – Market size and forecast 2021-2026 ($ million)

Exhibit 31: Flooded – Year-over-year growth 2021-2026 (%)

6.5 Market opportunity by Type

Exhibit 32: Market opportunity by Type

7. Customer landscape

Technavio’s customer landscape matrix comparing Drivers or price sensitivity, Adoption lifecycle, importance in customer price basket, Adoption rate and Key purchase criteria

7.1 Overview

Exhibit 33: Customer landscape

8. Drivers, Challenges, and Trends

8.1 Market drivers

8.1.1 Growing investments in automotive industry

8.1.2 Growth in demand for industrial applications

8.1.3 Increasing focus on renewable energy generation

8.2 Market challenges

8.2.1 Declining costs of lithium-ion batteries

8.2.2 Drawbacks of lead acid batteries

8.2.3 Rising competition from fuel cells

Exhibit 34: Impact of drivers and challenges

8.3 Market trends

8.3.1 Growing microgrid installations

8.3.2 Rising vendor collaborations

8.3.3 Growing need for eco-friendly vehicles

9. Vendor Landscape

9.1 Competitive Scenario

9.2 Overview

Exhibit 35: Vendor landscape

9.3 Landscape disruption

Exhibit 36: Landscape disruption

Exhibit 37: Industry Risk

10. Vendor Analysis

10.1 Vendors covered

Exhibit 38: Vendors covered

10.2 Market positioning of vendors

Exhibit 39: Market positioning of vendors

10.3 Dongjin Group

Exhibit 40: Dongjin Group – Overview

Exhibit 41: Dongjin Group – Product and service

Exhibit 42: Dongjin Group – Key offerings

10.4 Energy System Co.

Exhibit 43: Energy System Co. – Overview

Exhibit 44: Energy System Co. – Product and service

Exhibit 45: Energy System Co. – Key offerings

10.5 Exide Industries Ltd.

Exhibit 46: Exide Industries Ltd. – Overview

Exhibit 47: Exide Industries Ltd. – Business segments

Exhibit 48: Exide Industries Ltd. – Key offerings

Exhibit 49: Exide Industries Ltd. – Segment focus

10.6 Impress Corp. Ltd.

Exhibit 50: Impress Corp. Ltd. – Overview

Exhibit 51: Impress Corp. Ltd. – Product and service

Exhibit 52: Impress Corp. Ltd. – Key offerings

10.7 Okaya Power Pvt. Ltd.

Exhibit 53: Okaya Power Pvt. Ltd. – Overview

Exhibit 54: Okaya Power Pvt. Ltd. – Product and service

Exhibit 55: Okaya Power Pvt. Ltd. – Key offerings

10.8 Panna Battery Ltd.

Exhibit 56: Panna Battery Ltd. – Overview

Exhibit 57: Panna Battery Ltd. – Product and service

Exhibit 58: Panna Battery Ltd. – Key offerings

10.9 Rahimafrooz (Bangladesh) Ltd.

Exhibit 59: Rahimafrooz (Bangladesh) Ltd. – Overview

Exhibit 60: Rahimafrooz (Bangladesh) Ltd. – Product and service

Exhibit 61: Rahimafrooz (Bangladesh) Ltd. – Key offerings

10.10 SARBS Communications Ltd.

Exhibit 62: SARBS Communications Ltd. – Overview

Exhibit 63: SARBS Communications Ltd. – Product and service

Exhibit 64: SARBS Communications Ltd. – Key offerings

10.11 Skyline Electronics Inc.

Exhibit 65: Skyline Electronics Inc. – Overview

Exhibit 66: Skyline Electronics Inc. – Product and service

Exhibit 67: Skyline Electronics Inc. – Key offerings

10.12 Universal Power Group Inc.

Exhibit 68: Universal Power Group Inc. – Overview

Exhibit 69: Universal Power Group Inc. – Product and service

Exhibit 70: Universal Power Group Inc. – Key offerings

11. Appendix

11.1 Scope of the report

11.1.1 Market definition

11.1.2 Objectives

11.1.3 Notes and caveats

11.2 Currency conversion rates for US$

Exhibit 71: Currency conversion rates for US$

11.3 Research Methodology

Exhibit 72: Research Methodology

Exhibit 73: Validation techniques employed for market sizing

Exhibit 74: Information sources

11.4 List of abbreviations

Exhibit 75: List of abbreviations

About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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Email: media@technavio.com
Website: www.technavio.com/

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