![]() Favorable demographic trends, such as the growing population, are expected to lead to the construction of more offices, industrial plants, schools, and colleges, in turn, driving the demand for UPS in the construction sector. is projected to stimulate the construction of a greater number of healthcare units and hospitals in the region. Implementation of the “Affordable Healthcare Act” in the U.S. construction industry is expected to witness considerable growth owing to the demand for non-residential construction projects such as hospitals, schools, and colleges over the coming years. and Mexico, on account of rising government efforts to reduce the carbon footprint by deploying eco-friendly products, is expected to augment the market growth during the forecast period. The growing demand for electric vehicles in the U.S. is expected to promote market growth during the forecast period. The growing number of battery manufacturers in the U.S. ![]() market is anticipated to witness substantial growth in the forecast period owing to favorable government policies and increasing electric vehicle and consumer electronics sales in the country. However, lithium-ion battery is expected to capture a significant portion of the lead acid battery market during the forecast period on account of their low energy density and lightweight. ![]() Lead acid batteries are used for critical applications because of their high reliability and low cost. The high use of UPS devices in healthcare, chemical, and oil & gas sectors for continuous power supply is expected to propel the growth of the battery market. The global battery market size was valued at USD 104.31 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 15.8% from 2023 to 2030.
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