A three-pronged approach was followed for deducing the lead acid battery market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:
Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for lead acid battery market to gather the most reliable and current information possible.
Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of lead acid battery market data depending on the type of information we’re trying to uncover in our research.
Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.
Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.
Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.
Qualitative Functional Deployment (QFD) Modelling for market share assessment.
Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.
Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.
Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.
This step also entails the finalization of the report scope and data representation pattern.
Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.
The lead acid battery market was categorized into four segments, namely product (SLI, Stationary, Motive), construction method (Flooded, VRLA), application (Automotive, UPS, Telecom, Electric bikes, Transport vehicles), and regions (North America, Europe, Asia Pacific, Central & South America, Middle East & Africa).
The lead acid battery market was segmented into product, construction method, application, and regions. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:
Demand estimation of each product across countries/regions summed up to from the total market.
Variable analysis for demand forecast.
Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.
Primary interviews for data revalidation and insight collection.
Used extensively for new product forecasting or analyzing penetration levels.
Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.
Primary interviews and vendor-based primary research for variable impact analysis.
The lead acid battery market was analyzed at a regional level. The global was divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, keeping in focus variables like consumption patterns, export-import regulations, consumer expectations, etc. These regions were further divided into ten countries, namely, the U.S.; Germany; the UK.; Italy; Russia; China; India; Brazil; South Africa; UAE.
All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.
The lead acid battery market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:
Johnson Controls - Johnson Controls is headquartered in Wisconsin, U.S. and was founded in the year 1885. The company provides energy-efficiency increasing solutions, batteries, and energy storage for hybrid and electric vehicles and automotive seats. Currently, it employs over 122,000 people worldwide. The company has marked its operational presence across over 1,300 locations across various countries including the U.S., Germany, China, Japan, Korea, India, South Africa, Hong Kong, Bahamas, Puerto Rico, Haiti, Saint Lucia, Costa Rica, Austria, Italy, Hungary, Greece, Portugal, Sweden, Spain, Jordan, Kuwait, Oman, UAE, Egypt, Chile, Ecuador, Peru, Guyana, Colombia, Argentina, and Venezuela. The company also has a lead acid battery production plant located in China. The company’s key segments are buildings, batteries, distributed energy storage, and automotive seating. Product portfolio of Johnson Controls includes varied range of products and services including air systems, HVAC controls, HVAC equipment, replacement parts & supplies, lead acid products, lithium-ion products, battery recycling, in-building distributed energy storage system, modular energy storage system, and automotive seats.
Crown Battery - Crown Battery is headquartered in Fremont, Ohio and is established in 1926. The company manufactures and markets batteries for various industries from heavy-duty equipment to recreational automotive and marine industries. Crown Battery has a service and product network in 6 continents including the Americas, Asia, and Africa and over 50 countries including New York, Tokyo, and Michigan. The company employs over 550 employees as of 2018. The company’s key product segments are industrial battery, SLI battery, and power house cleaners. Product portfolio includes Crown1, MaxHaul, PHP chargers, IHF chargers, access chargers, EL chargers, EV chargers, 8 V monobloc starting batteries, 32 V unitized starting batteries, embassy AGM series, deep cycle battery, cell covers, chemicals, connectors & contacts, pogo sticks, railroad parts, and vent caps.
EnerSys - EnerSys was founded in 1999 and is headquartered in Pennsylvania, U.S. The company manufactures batteries for aerospace, reserve power, motive power and defense, rail solutions, and mining applications. As of 2018, company employs over 9,600 employees and functions in 32 assemblies and has manufacturing facilities across numerous countries including Australia, Japan, China, Malaysia, Mexico, Singapore, Switzerland, India, Serbia, Morocco, Canada, Bulgaria, Austria, Belgium, Denmark, Finland, France, Germany, Italy, Hungary, and Greece. The company has a nickel-based business in Germany, lithium-based business in the U.S., and a lead acid battery business in Switzerland. The company has three battery manufacturing facilities in Chongqing, Jiangsu and Gaoyou City, China. The company’s key segment includes batteries, enclosures, chargers, and accessories. Product portfolio includes a wide range of brands including Hawker, Genesis, Quallion, Powerbloc, Express, DataSafe, FlexSure, EnForcer, Express, Groundhog, Reserve Power, battery racks, battery monitoring devices, battery safety & maintenance equipment, and battery handling equipment.
GS Yuasa Corporation - GS Yuasa Corporation, a subsidiary of GS Yuasa Group, was founded in 2004 and is headquartered in Japan. In 2018, the company had over 14,217 employees and 12 group companies across Asia and overseas including the UK and the U.S. GS Yuasa Corporation deals in various business operating segments, which include domestic automobile batteries, domestic industrial batteries, overseas operations, photovoltaic, and lithium-ion batteries. The company markets and produces products including electrical equipment, batteries, power supply systems, lighting equipment, and specialized equipment. GS Yuasa builds lead acid batteries for automotive, motorcycle, eco cars, plugs-in hybrids, railways storage battery drive systems, and lithium-ion batteries mounted in aircrafts and for electrical vehicles.
East Penn Manufacturing - East Penn Manufacturing was established in 1946, and is headquartered in Pennsylvania, U.S. The company’s key business segments are transportation, motive power, reserve power, and wire, cable & battery accessories. Product portfolio includes intimidator AGM batteries, Deka ultimate battery series, Deka EN exact fit series, Deka gold battery series, AUX AGM batteries, Deka dominator gel batteries, Deka commercial batteries, Deka pro master batteries, Deka flooded locomotive batteries, Dekamaxpower, Deka dominator, Dekachargemate, Dekafastcharge, Deka Fahrenheit, Dekaunigy II, Deka solar batteries, and Deka Ultrabattery. The company caters to different industries including automotive, marine, trucks, buses & equipment, power sports, recreational vehicles, agricultural, floor care equipment, industrial lift trucks, airline ground support, automated guided vehicles, rails & locomotives, telecommunications, uninterruptible power supply, grid optimizations services, renewable energy, broadband, and fleet equipment.
Exide Technologies - Exide is a storage electrical energy solution company founded in 1888. Exide is headquartered in Milton, Georgia. As of 2018, the company had its operations across 80 countries including the U.S., France, Italy, Spain, Austria, Australia, and India and employs around 10,000 employees. Exide has eight subsidiaries, five in India, which includes Chloride Metals Limited, Chloride Power Systems, Chloride Alloys India Limited & Solutions Limited, Chloride International Limited, Exide Life Insurance Company Limited, and three International subsidiaries including Chloride Batteries S.E Asia Pte. Ltd, Singapore, Espex Batteries Limited, UK, and Associated Battery manufacturers (Ceylon) Limited, Sri Lanka.
Trojan Battery Company - Trojan Battery Company was established in 1925 and is headquartered in California, U.S. The company manufactures deep cycle batteries for various applications including aerial work platforms, renewable energy, golf and utility vehicles, transportation, floor machines, oil & gas, marine and recreational vehicles. Trojan’s operations include four ISO 9001:2008 certified manufacturing plants situated in California and Georgia, and international offices located in Europe, UAE and Asia. The company has over 850 employees and offers various flooded and VRLA batteries of various voltages including 2,4,6,8,12, and 36 volts. The company incorporates various technologies including C-Max Technology, which maximizes the performance, increases total energy, and durability and offer maximum battery safety. The company is indulged in the constant R&D and has now come up with advanced robotics, state-of-the-art cast-on-strap (COS) technology, automated acid fill stations, heat seal and testing equipment in order to enhance the quality of the batteries. The company serves broad client base including Yamaha, John Deere, Textron, New Flyer, Viper, Eagle, Volvo, ICE, and Clark.
Power Sonic Corporation - Power Sonic, one of the leading manufacturers in the battery industry was founded in 1970 and is headquartered in California, the U.S. The company is engaged in design, manufacture and distribution of innovative and reliable battery solutions. Its product portfolio offers wide range of batteries which are used worldwide for a broad range of electronic and industrial applications. The company’s battery solutions include sealed lead acid (SLA) and lithium technologies, chargers and related accessories. The company operates in five business segments namely life safety, medical, utilities and infrastructure, powersports and industrial automation. The Company is constantly involved in developing new products to set the pace within a rapidly changing industry. Power Sonic employ over 1,000 people worldwide with major operations in UK, France, Mexico and The Netherlands.
NorthStar - NorthStar was established in the year 2000 and is headquartered at Stockholm, Sweden. The company designs, manufactures, and markets lead acid AGM batteries applicable in various industries including engine start applications, telecom power systems, and uninterruptible power supply systems. NorthStar employs over 544 people with their operational presence in America, Europe, Asia Pacific, the Middle East & Africa, and China. Its services are distributed in various countries including Dubai, Indonesia, Panama and Missouri, Shanghai, Shenzhen Sollentuna, and Singapore.
C&D Technologies, Inc. - C&D Technologies was incorporated in 1906 and is headquartered in the U.S. C&D Technologies deals with the manufacturing, marketing and distribution of electronics, batteries, fully integrated power systems, and power backups in case of power losses or interruptions. The company’s key product segments are flooded batteries, VRLA batteries, lithium ion batteries, battery monitoring, racks & cabinets, and spill containment & safety. The company provides its products and services catering to a wide range of industries including telecommunications, energy & infrastructure, government, emergency engine starting for lube pumps, diesel engine generators and UPS battery systems supporting medical/emergency applications, data centers, and internet hosting sites. The company also has manufacturing facilities situated across Indiana, Pennsylvania, Wisconsin, Ontario, Shanghai, and Reynosa. C&D Technologies has marked its presence in different locations including China, Columbia, Indonesia, New Zealand, Taiwan, Venezuela, Vietnam, India, Korea, Nepal, and the Philippines. The company has a battery manufacturing plant located in Shanghai, China.
Supply Side Estimates
Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.
Segment revenue determination via variable analysis and penetration modeling.
Competitive benchmarking to identify market leaders and their collective revenue shares.
Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.
Demand side estimates
Identifying parent markets and ancillary markets
Segment penetration analysis to obtain pertinent
Heuristic forecasting with the help of subject matter experts
Forecasting via variable analysis
Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.
Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.
Understanding market estimates and forecasts (with the base year as 2022, historic information from 2018 to 2021, and forecast from 2023 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.
The report provides market value for the base year 2022 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.
The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.
We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.
All market estimates and forecasts have been validated through primary interviews with the key industry participants.
Inflation has not been accounted for to estimate and forecast the market.
Numbers may not add up due to rounding off.
Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).
Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).
Latin America includes Central American countries and the South American continent
Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.
GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.
We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:
Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.
Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.
The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.
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