Bangladesh Lead-Acid Battery Market Size (2024 - 2029)

The Bangladeshi lead-acid battery market is poised for growth, driven by the expanding automotive sector and the increasing installation of residential uninterrupted power supply systems. Despite challenges posed by the declining prices of lithium-ion batteries and the rising adoption of electric vehicles, the market's expansion is supported by the low cost of lead and the demand for SLI batteries. Additionally, opportunities are emerging from the decreasing costs of solar PV equipment and global initiatives aimed at promoting renewable energy, which could further influence the market's scale and scope.

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Market Size of Bangladesh Lead-Acid Battery Industry

Bangladesh Lead-Acid Battery Market - Market Summary
Study Period 2020 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2020 - 2022
CAGR 3.00 %
Market Concentration Medium

Major Players

Bangladesh Lead-Acid Battery Market Major Players

*Disclaimer: Major Players sorted in no particular order

Bangladesh Lead Acid Battery Market Analysis

The Bangladeshi lead-acid battery market is expected to register a CAGR of more than 3% during the forecast period (2022-2027). The COVID-19 pandemic negatively affected the Bangladeshi lead-acid battery market, as raw materials could not be sourced and finished products could not be moved due to the lockdowns imposed worldwide. The demand for automobiles that contain SLI batteries declined due to the pandemic as people were reluctant to spend money on non-essential items. In terms of market growth, increasing sales of automobiles in the country and the low cost of lead are likely to drive the lead-acid battery market during the forecast period. However, declining lithium-ion battery prices and increasing adoption of electric vehicles are likely to hinder the market's growth during the forecast period.

  • Due to the booming automotive sector, SLI batteries (starting, lighting, and ignition) are expected to dominate the market during the forecast period
  • The decreasing cost of solar PV equipment and supportive global initiatives may eliminate carbon emissions and promote renewables by utilizing off-grid renewable energy projects. This factor is expected to create immense opportunities for the market players.
  • The Bangladeshi lead-acid battery market is likely to be driven by the increasing installation of the residential uninterrupted power supply systems to counter the erratic power supply in the country.

Bangladesh Lead Acid Battery Industry Segmentation

The scope of the Bangladeshi lead-acid battery market report includes:

Type
SLI Batteries (Starting, Lighting, and Ignition)
Stationary Batteries (Telecom, UPS, Energy Storage Systems (ESS))
Portable Batteries (Consumer Electronics)
Other Types
Technology
Flooded
Valve Regulated Battery
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Bangladesh Lead-Acid Battery Market Size Summary

The Bangladeshi lead-acid battery market is poised for growth, driven by the burgeoning automotive sector and the increasing demand for SLI batteries, which are essential for starting, lighting, and ignition in vehicles. Despite the challenges posed by the COVID-19 pandemic, such as disruptions in raw material sourcing and product distribution, the market is expected to benefit from the rising sales of automobiles and the cost-effectiveness of lead-acid batteries. However, the market faces potential hurdles from the declining prices of lithium-ion batteries and the growing adoption of electric vehicles. The demand for lead-acid batteries is further bolstered by the expansion of mobile towers and the continued reliance on conventional internal combustion engine vehicles, which are expected to sustain the need for these batteries in the near term.

In addition to the automotive sector, the lead-acid battery market in Bangladesh is experiencing growth due to the increasing installation of uninterrupted power supply (UPS) systems, driven by the country's erratic power supply issues. The economic growth and rising living standards have made UPS systems more accessible, further fueling the demand for lead-acid batteries. The surge in cellular subscribers and the subsequent expansion of telecommunication infrastructure also contribute to this demand. The market is moderately fragmented, with key players like Amara Raja Batteries Ltd, Rahimafrooz Ltd, and others playing significant roles. Regulatory measures, such as the battery recycling order by the Ministry of Environment, Forest and Climate Change, are expected to impact the market dynamics by promoting sustainable practices in battery manufacturing and recycling.

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Bangladesh Lead-Acid Battery Market Size - Table of Contents

  1. 1. MARKET OVERVIEW

    1. 1.1 Introduction

    2. 1.2 Market Size and Demand Forecast in USD million, till 2027

    3. 1.3 Recent Trends and Developments

    4. 1.4 Government Policies and Regulations

    5. 1.5 Market Dynamics

      1. 1.5.1 Drivers

      2. 1.5.2 Restraints

    6. 1.6 Supply Chain Analysis

    7. 1.7 Porter's Five Forces Analysis

      1. 1.7.1 Bargaining Power of Suppliers

      2. 1.7.2 Bargaining Power of Consumers

      3. 1.7.3 Threat of New Entrants

      4. 1.7.4 Threat of Substitutes Products and Services

      5. 1.7.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 Type

      1. 2.1.1 SLI Batteries (Starting, Lighting, and Ignition)

      2. 2.1.2 Stationary Batteries (Telecom, UPS, Energy Storage Systems (ESS))

      3. 2.1.3 Portable Batteries (Consumer Electronics)

      4. 2.1.4 Other Types

    2. 2.2 Technology

      1. 2.2.1 Flooded

      2. 2.2.2 Valve Regulated Battery

Bangladesh Lead-Acid Battery Market Size FAQs

The Bangladesh Lead-Acid Battery Market is projected to register a CAGR of greater than 3% during the forecast period (2024-2029)

Amara Raja Batteries Ltd, Saif Powertec Limited, Okaya Power Pvt. Ltd, Rahimafrooz Ltd and Panna Group are the major companies operating in the Bangladesh Lead-Acid Battery Market.

Lead Acid Battery Market in Bangladesh Report Snapshots

Bangladesh Lead Acid Battery Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)