According to a recent market report by Technavio, Bangladesh’s Lead Acid Battery Market Share is projected to grow by USD 75.98 million from 2021 to 2026 at an accelerating CAGR of 6.75%. During the anticipated timeframe, the sealed segment’s market share rise for (LABs) in Bangladesh would be significant.
The rising use of mobile applications drives the need for closed (LABs). Compared to other (LABs), gel batteries are more resilient to vibration, temperature, and shock.
These batteries are perfect for mobile and deep-cycle applications, which often include electric vehicles (EVs), golf carts, and equipment for material handling and call for constant current.
Additionally, the study offers Value Chain Analysis, which aids businesses in gaining a competitive edge in the industry.
The Bangladeshi lead acid battery market’s value chain. Suppliers are employing growth methods to compete in the highly consolidated lead acid battery market in Bangladesh, including concentrating on enhancing their revenue, marketing, and working capital.
Due to their cheap cost advantage over alternative battery chemistries and established technology, (LABs) are widely utilized in the automotive industry for SLI (starting, lighting, and ignition) and start/stop operations in automobiles.
Due to Bangladesh’s strong demand for cars, the need for (LABs) from the automotive sector is rising. The automotive sector is favorably impacted by population growth and urbanization, which boost demand for and manufacture cars.
The rise in consumer demand is causing an increase in the volume of automobiles produced, boosting Bangladesh’s lead acid battery industry.
Because they are less expensive than (LIBs), (LABs) are favored. Lead acid batteries can also deliver the strong burst of immediate power needed for automotive cranking applications.
But compared to (LABs), (LIBs) have several benefits. Compared to (LABs), (LIBs) have leads such as greater CD, retentive Ph.D., and lengthier shelf life that allow them to perform better.
Due to increased manufacturing gauge and manufacturing efficiency over the past ten years, the cost difference between battery chemistries has shrunk significantly. LIBs usage is rising across all battery applications due to falling (LIB) production prices, which is impacting (LAB)demand.
