lead market in middle East & africa will experience over 5% CAGR during the analysis timeframe due to rising investment toward metal & mining industries along with increasing focus to attract the private investment.
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As per speculations put forward by Global Market Insights, Inc., the worldwide lead market size is anticipated to be pegged at a total valuation of USD 27 billion by the end of 2025.
The worldwide lead market size is forecast to witness a massive momentum in the upcoming years preferably due to the elevating demands for batteries across the automobile sector. Additionally, the growing needs for power backup systems in the communication facilities would bolster lead market growth.
Progressive expansion of the microgrid networks in tandem with mounting efforts toward augmenting the efficiency of grids would further escalate the industry outlook over 2019-2025.
Not to mention, increasing prevalence of power blackouts across various regions with limited electricity accessibility and peak load demand compensation would boost the overall demand for the product.
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Report Coverage:
Base Year: 2018
Historical Data for:2014 to 2018
Forecast Period:2019 to 2025
Below are the trends that are leveraging positive benefits to the overall lead market:
Sliding inclination towards lead recycling in Europe
Owing to the copious growth in the automotive sector and rising number of data centers, lead market in Europe is likely to accrue considerable proceeds over the forecast period. Various industry mammoths including Ericsson, Telia Sonera and multiple others, along with the government authorities are ensuring considerable investments towards enhancing the internet connectivity across the region.
Transcending shift towards lead recycling and growing secondary production will appreciably foster the business landscape. Concurrently, the European Union has formed several directives for the production, utilization, and the use of batteries in accordance to the EU Circular Economy.
The system includes the manufacturing of automotive batteries out of which nearly 99 per cent batteries are collected and recycled for the future use.
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Mounting demands for starter batteries across the automotive segment
Accounting to its large scale utilization across myriad industries like the automotive, telecom, and several others, it has been recorded that the lead industry size from batteries accounted for a revenue share of USD 19 billion in 2018.
Lead forms an integral component of a starter battery in the motor vehicles. The traction batteries form primary product in the electric vehicles with an intent to delivering highly efficient power backup in the telecom and computer systems.
Introduction of stringent legislative reforms pertaining to the emissions and unhealthy environmental impact is likely to add impetus to the global lead market size.
However, elevating instances of lead poisoning due to excess consumption across various application industries would curb the market expansion over the span of seven years. As a matter of fact, the Consumer Products Containing Lead Regulations (CPCLCMR), has limited the use of lead in umpteen consumer products in Canada, with an aim of reducing the direct contact of lead. In addition to that, the application of lead in the production of solders, pigments and compounds, and electrical equipment has also been cut down thereby directly hindering the lead market share over 2025.
Scarcity of proper electricity sources in the MEA region
An upsurge in the investments for metal and mining activities across the Middle East and Africa region coupled with high end focus on securing private investments would propel the market outlook over the foreseeable timespan. In fact, this would allow the MEA market to depict a CAGR of 5 per cent through 2025.
Statistics rolled out by the world bank conveys that approximately 573 million people in the sub-Saharan Africa are facing pervasive blackouts each year. This unavailability of reliable electricity sources across the region has led to substantial demands for the power backup systems which would complement the surge in business trends.
Contact Info:
Name: Arun Hegde
Email: Send Email
Organization: Global Market Insights, Inc.
Website: https://www.gminsights.com/pressrelease/lead-market
Source URL: https://marketersmedia.com/lead-market-will-grow-at-29-cagr-to-cross-27-billion-by-2025/88930227
Source: MarketersMedia
Release ID: 88930227
