Lead Market Covid-19 Impact Analysis, Business Growth & Forecast To 2025
Increasing deployment of backup power systems in hospitals, industrial and commercial facilities is a major factor driving the growth of the lead market.
Increasing deployment of backup power systems in hospitals, industrial and commercial facilities is a major factor driving the growth of the lead market. Surging need of automotive batteries and favorable federal reforms to develop enhanced microgrid networks is also aiding the expansion of the market. Escalating investments in metal & mining industries coupled with growing electric vehicle sector are also fueling the popularity of the product across the globe.
Global Market Insights, Inc., estimates the lead market is estimated to be worth USD 27 billion by the year 2025.
Request for a sample copy of this report @ https://www.gminsights.com/request-sample/detail/4339
Frequent power blackouts in various remote areas which have minimum electric infrastructure and scarcity of electricity are fueling the growth of the market. However, growing occurrences of lead poisoning among consumers has led to development of strict government regulations in reducing lead utilization and consumption which in turn may hinder the growth of the market. In Canada for instance, the Consumer Products Containing Lead Regulations restrict the use of lead in consumer articles across the country in order to reduce direct lead contact. Moreover, the Canadian regulatory body has also restricted the use of lead in solders, electrical equipment, pigments & compounds and cable sheathing applications which may further impede the lead market growth.
Enumerated below are factors that can impact lead industry outlook:
Rising adoption of lead in battery applications
Estimates claim that the batteries application of lead market had reached 19 billion in the year 2018. Lead is extensively used in vehicle batteries. Electric vehicles in particularly, often deploy traction batteries. Traction batteries are also installed in data centers and telecom firms in order to provide emergency backup for telecom and computer systems. Thus, rising adoption of lead in the telecoms, data centers, and automotive sector is contributing to the growth of lead industry from batteries application.
Strict government regulations over reducing carbon footprint is also paving the way for surging need for electric vehicles which in turn is fueling the lead market outlook.
Strict government regulations over lead recycling in Europe
Rising expansion of data centers in tandem with modest growth rate of automotive sector in Europe is driving the Europe lead market growth. Various government entities across Europe and mobile network operators such as Ericsson, Deutsche Telekom and Telia Sonera are primarily focusing on improving the network grid across the region. This factor in tandem with growing inclination towards lead recycling and secondary production facilities are likely to help push the regional lead market trends.
Lack of electricity in Middle East & Africa
Growing inclination of regional industry players towards enticing private investors coupled with escalating investments in metal & mining industries is boosting the Middle East & Africa lead market outlook. As per estimates, Middle East & Africa lead market size is expected to grow by 5% through 2025.
Request for Customization @ https://www.gminsights.com/roc/4339
Moreover, scarcity of electricity in Africa has led to rising deployment of backup power systems which in turn will aid in the market expansion. In 2019, The World Bank estimated that more than 573 million people in sub-Saharan Africa were facing severe shortages of electricity.
The prominent companies operating in lead market are Hemendra Metal Industries, Non-Ferrous Metals, H.M.S Metal, Gorevsky GOK, Doe Run, Henan Yuguang Gold Lead, Gravita India, Teck Resources, BHP Billiton, Aqua Metals, Glencore, Nyrstar and Hindustan Zinc.
About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
Corporate Sales, USA
Global Market Insights Inc.
Toll Free: 1-888-689-0688