High dependence on energy imports, low electrification rate, proposed investments in power sector, developing transmission network, and initialization of solar energy projects are the key factors driving the need for energy storage and back-up devices in Cambodian market. This growing demand for energy storage and back-up devices is spurring the market for lead acid batteries in the country.
Quality and performance characteristics of lead acid batteries are making them as a preferred choice for energy storage amongst all major sectors. According to 6Wresearch, Cambodia lead acid batteries market is projected to reach $239.4 million by 2019, at a CAGR of 10% during 2014-19. Power sector authorities in Cambodia have set an aggressive target of connecting 100% villages by electrical lines and supply electricity to 70% rural households by 2030. Provinces with low electrification rates are expected to witness deployment of solar plants, thus creating the demand for lead acid batteries. On the other hand, transport sector in Cambodia is not yet developed and the country lacks infrastructure for public transport facilities. Majority of individuals utilize two wheelers to support their transportation requirements, giving rise to utilization of low capacity lead acid batteries on larger scale.
Major global manufacturers of lead acid batteries include Johnson Controls (U.S.), Exide Technologies (India), GS YUASA (Japan), Enersys (U.S.), East Penn Manufacturing Inc. (U.S.), Furukawa Battery (Japan), and FIAMM (Italy). In the country, demand for lead acid batteries is met either from imports or small local producers.
In 2013, Singapore based Fosera Lighting installed solar powered street lamps in three villages of Kompong Chhnang province. Heng Development Co. Ltd., has planned to invest $100 million to start auto factory in Cambodia with the help of Hitachi Corporation. In 2012, World Bank funded solar power project in Cambodia is expected to power about 1,200 residential units in Ratanakiri, Preah Vihear, Siem Reap, and four other provinces. The expanding foot print of solar lighting projects is anticipated to present wide opportunity for adoption of lead acid batteries. Some of these aforementioned initiatives are also likely to provide necessary boost to Cambodia’s lead acid battery market.
The major applications of lead acid batteries are found in automotives, commercial, residential, and industrial end uses. The report includes Cambodia Lead Acid Battery Market by application; by regions such as North, South, East, West, and Central Cambodia; by capacity such as <10 Ah, 10 – 100 Ah, 100 – 200 Ah, 200 – 300 Ah, and 300 Ah and above, and provides their market trends and forecasts in terms of volume (units) and revenue ($ Million) from the year 2011 to 2019, along with CAGR projected from the year 2014 to 2019.
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Cambodia lead acid battery market