Surging Electric Vehicle Deployment Driving Lead-Acid Battery Sales
The increasing deployment of hybrid electric vehicles (HEVs) and battery electric vehicles (BEVs) is driving the demand for lead-acid batteries across the world. The clean and energy-efficient transportation provided by these vehicles is fueling their worldwide popularity. Moreover, with the enactment of strict emission norms for conventional vehicles by the governments of several countries, many electric vehicle manufacturers such as Nissan Motor Corporation, Tesla Inc., and Ford Motor Company are launching new and technologically advanced electric vehicles. As lead-acid batteries are used as the primarily power source in these vehicles, the surging deployment of these vehicles is propelling their demand across the globe. Besides this, the mushrooming popularity of non-conventional energy sources is also creating lucrative growth opportunities for the players operating in the lead-acid battery market. All European Union (EU) member nations have implemented countrywide renewable energ...