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Battery plates are constructed in a lattice grid and support the active material and conduct electricity. Battery plates undergo the forming process where they are electrically charged. They are immersed in an acid solution, where they react with the acid and generate electricity. Battery plates offer features such as low self-discharge, easy maintenance, longer service life, and less maintenance. Lead Acid batteries have changed little since the 1880s, although improvements in materials and manufacturing methods continue to bring improvements in energy density, life, and reliability. All lead-acid batteries consist of flat lead plates immersed in a pool of electrolyte. A battery cell consists of two lead plates, a positive plate covered with a paste of lead dioxide, and a negative made of sponge lead, with an insulating material (separator) in between. The plates are enclosed in a plastic battery case and then submerged in an electrolyte consisting of water and sulfuric acid.
Based on the type, the market is segmented into lead-acid, lithium-ion, and others. Lithium-ion is expected to be a prominent segment of the market during the forecast period. Lithium-ion batteries offer several advantages, such as the highest energy density per weight, fast charging capacity, longer lifespan, and high power density.
Based on the sales channel, the market is segmented into OEMs and aftermarket. Aftermarket channel leads the market due to numerous reasons like the battery plate is less expensive as compared to OEM, quality is equally as compared to OEM, more variety, and better availability of the battery plate to near stores.
Based on the end-user, the market is segmented into automotive, aerospace, railway, and others. Automotive end-user is further bifurcated into passenger vehicles and commercial vehicles. Passenger vehicles lead the market owing to the higher production of passenger vehicles across the globe. The demand for electric vehicles has increased due to production of lithium-ion batteries and its advantages such as high energy density, compact size, and high storage capacity.
The key market driver of this market is the increasing investments in battery cell production to minimize fuel consumption and increase its life span may enhance the battery plate market. These research activities will improve performance and ensure a compact, lightweight, and cost-efficient model. Other factors that drive the market include the high adoption rate of electric vehicles in several countries, rising environmental concerns, and increased automobile production.
The key market restraint is the product failure due to manufacturing, and non-manufacturing faults lead to physical damage, manufacturing faults, wear and tear, failure to maintain fluid levels, undercharging or overcharging, sulphation, and lights or other accessories left on for extended periods may shorten the product life. Batteries have a finite life, and the failure is attributed to various factors, including non-manufacturing and manufacturing faults. Another factor that hampers the market is the high production cost of the battery.
Key Market Driver -
Increasing investments in battery cell production
Key Market Restraint -
Product failure due to manufacturing and non-manufacturing faults
Some of the major companies in the battery plate market include Desay, Microvast, Inc, KIJO BATTERY GROUP, HOPPECKE Industrial Batteries, GNB Industrial Power, Exide Technologies, Hawker Powersource, Inc., EV Battery Solutions, EVERLITE, ElectriPlast Corporation, and Crown Battery.
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The global battery plate market is studied across different regions like North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. In North America, the battery plate market is growing at a significant pace due to the increased battery production for vehicles like trucks. GNB is the primary battery supplier to the North American forklift truck chain. Also, advancements in the battery plates are done with the advanced tubular technology features that encapsulate the active material, resulting in cyclic stability, longer life, and higher capacity. In the Asia Pacific region, the growth of the battery plate is due to the increased battery production along with the rising environmental concerns in countries like China, India, and Singapore. In Europe, the growing adoption of electric vehicles is the major factor fueling the growth of the market. Recently, in June, the Cessna Caravan plane completed its first all-electric flight. In the Middle East & Africa, the UAE government has started making efforts to reduce the contribution of road transport to its footprint and so that makes it an ideal location to push the adoption rate of green mobility solutions. Also, rising environmental concerns in the region are also providing a further boost to the growth of the market.
By Battery Type
By Sales Channel
Key Industry Developments
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