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The lead acid battery market share in Bangladesh is expected to surge to USD 75.98 million from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 6.75%.
This lead acid battery market in Bangladesh research report extensively covers lead acid battery market segmentation in Bangladesh by type (sealed and flooded) and application (stationary and mobile). The lead acid battery market in Bangladesh report also offers information on several market vendors, including 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.
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The growing investments in the automotive industry is notably driving the lead acid battery market growth in Bangladesh, although factors such as declining costs of lithium-ion batteries may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the lead acid battery market industry in Bangladesh. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Lead Acid Battery Market Driver in Bangladesh
One of the key factors driving growth in the lead acid battery market in Bangladesh is the growing investments in automotive industry. 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 owing 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.
Key Lead Acid Battery Market Trend in Bangladesh
The growing microgrid installations is another factor supporting the lead acid battery market share growth in Bangladesh. Microgrids are small-scale power generation units consisting of generation and storage resources. They can operate in both grid-connected (hybrid microgrids) and island modes based on the availability of power supply through the grid. Microgrids have emerged as a solution to the inconsistent electrical grid infrastructure. In Bangladesh, the power grids are not always stable. Due to frequent power outages, microgrids play a crucial role in protecting consumers from outages. The installation of microgrids is driven by the need for providing power at locations where grid-supplied electricity is unavailable or intermittent, which affects the operations of businesses in the area. Moreover, microgrids use solar and wind energy sources to generate power, which is one of the major factors driving their adoption amid the rising environmental concerns.
Key Lead Acid Battery Market Challenge in Bangladesh
The declining costs of lithium-ion batteries will be a major challenge for the lead acid battery market in Bangladesh during the forecast period. 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. 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.
This lead acid battery market in Bangladesh analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the lead acid battery market in Bangladesh encompasses successful business strategies deployed by the key vendors. 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.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The lead acid battery market in Bangladesh forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
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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.
This report provides an accurate prediction of the contribution of all the segments to the growth of the lead acid battery market size in Bangladesh and actionable market insights on post COVID-19 impact on each segment.
Technavio categorizes the lead acid battery market in Bangladesh as a part of the global renewable electricity market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the lead acid battery market in Bangladesh during the forecast period.
Our report provides extensive information on the value chain analysis for the lead acid battery market in Bangladesh, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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Lead Acid Battery Market Scope in Bangladesh |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2021 |
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Forecast period |
2022-2026 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 6.75% |
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Market growth 2022-2026 |
$ 75.98 million |
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Market structure |
Concentrated |
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YoY growth (%) |
6.30 |
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Regional analysis |
Bangladesh |
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Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
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Key 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. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
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
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