Latest news with #EastPennManufacturingCo
Yahoo
28-05-2025
- Business
- Yahoo
Reading Science Center awarded PA tax credit for expansion
The Reading Science Center has been awarded a $175,500 tax credit from the state that will allow it to double its space. The organization announced it has received the funds through the Neighborhood Assistance Program Tax Credit. The tax credit program aims to foster partnerships between nonprofits and businesses to revitalize distressed communities and support low-income populations. The program allows businesses to receive substantial tax credits for contributing to approved community improvement projects. These partnerships enable nonprofits like the Reading Science Center to secure funding for initiatives while offering businesses a way to invest in their communities. This tax credit will be directed through Shuman Development Group. As the owner of the building in the 600 block of Penn Street, the development group has played a role in helping the center expand access to STEM learning opportunities in downtown Reading. Officials said this collaboration will support an expansion within its current location, enhancing its ability to serve children and families throughout Berks County. 'The Reading Science Center is a valuable addition to our downtown revitalization efforts and we are proud to support their expansion efforts,' Alan Shuman said in a release. Executive Director of Reading Science Center Ralia Vardaxis said that by expanding through the lower level of the building the center has plans to double its exhibit space, create an additional classroom and introduce exciting new exhibits. One of those new exhibits was conceptualized, designed and fabricated by East Penn Manufacturing Co. The new interactive display 'Energy in a Box' helps children learn more about the benefits of batteries and proper recycling. Vardaxis said the new space will also include an area for children to eat lunch, making the center an even more convenient destination for field trips. With these improvements, the center will now be able to host up to 100 children at a time or 200 students in a single day. 'This expansion is truly a game-changer for us at the Reading Science Center,' said Sarah Troy, educational programming director. 'We've had to turn away schools unable to bring entire grade levels due to space constraints, and many have asked for a dedicated lunch area — needs we will now be able to meet. 'I'm thrilled to envision larger groups of students spending a full day surrounded by science — exploring, experimenting and making discoveries together.'
Globe and Mail
22-02-2025
- Automotive
- Globe and Mail
Lead Acid Battery Market 4.65% CAGR Expected Through 2032
"Lead Acid Battery Market Overview" The Lead Acid Battery Market is a vital segment of the global energy storage industry, driven by applications in automotive, industrial, and renewable energy sectors. According to a comprehensive research report by Market Research Future (MRFR), The Lead Acid Battery Market Information by Product, Construction Method, End-User and Region - Forecast till 2032, The Global Lead Acid Battery Market is estimated to reach a valuation of USD 84.15 Billion at a CAGR of 4.65% during the forecast period from 2024 to 2032. Overview of the Lead Acid Battery Market The lead-acid battery market has been a cornerstone of the global energy storage industry for decades, playing a pivotal role in automotive, industrial, and renewable energy applications. Lead-acid batteries are valued for their reliability, affordability, and recyclability. Despite the increasing popularity of lithium-ion and other advanced batteries, lead-acid technology remains indispensable due to its cost-effectiveness and widespread use in backup power systems, automotive starters, and off-grid applications. The global lead-acid battery market has witnessed steady growth in recent years and is projected to expand further, driven by advancements in technology, increased energy demand, and the growing adoption of renewable energy sources. Get Free Sample PDF Brochure: Key Players East Penn Manufacturing Co. Exide Technologies Johnson Controls ATLASBX Co. Ltd. NorthStar C&D Technologies, Inc. Narada Power Source Co., Ltd. Amara Raja Corporation GS Yuasa Corp Crown Battery Manufacturing Leoch International Technology Ltd., among others Market Dynamics Drivers of Growth One of the key drivers of the lead-acid battery market is its extensive use in the automotive sector. With millions of vehicles manufactured globally each year, lead-acid batteries are the preferred choice for starting, lighting, and ignition (SLI) applications due to their durability and low cost. Moreover, the rapid electrification of the automotive industry has spurred the demand for batteries in hybrid and electric vehicles, although lead-acid technology remains more dominant in traditional internal combustion engine vehicles. The surge in renewable energy installations has also created significant opportunities for lead-acid batteries. These batteries are widely used in energy storage systems that support renewable power projects, offering reliable backup power during grid outages. Additionally, the rise of off-grid solar energy systems in emerging economies has increased the demand for cost-effective and easily maintainable energy storage solutions like lead-acid batteries. Another critical growth driver is the expansion of telecommunications infrastructure globally. Lead-acid batteries are commonly used in telecom towers for backup power, especially in regions with unreliable grid electricity. The growing reliance on digital connectivity and the rollout of 5G networks further augment the demand for these batteries. Lastly, the recyclability of lead-acid batteries enhances their sustainability credentials, making them a preferred choice in applications where environmental regulations are stringent. Over 95% of lead-acid battery components can be recycled, which supports a circular economy and reduces environmental impact. Buy Now Premium Research Report: Restraints and Challenges Despite its established position in the energy storage market, the lead-acid battery industry faces several challenges. The increasing adoption of lithium-ion batteries poses a significant threat. Lithium-ion batteries are lighter, have higher energy densities, and are more efficient compared to lead-acid batteries, making them an attractive option for applications such as electric vehicles and portable devices. As the cost of lithium-ion technology continues to decline, it could further erode the market share of lead-acid batteries. Environmental concerns related to lead-acid batteries also present challenges. Although recyclable, improper disposal of lead-acid batteries can result in environmental contamination, leading to stricter government regulations regarding their manufacturing and recycling. This could increase production costs and act as a barrier for small and medium-sized manufacturers. Additionally, lead-acid batteries have limitations in terms of energy density and cycle life compared to newer technologies. This restricts their applicability in high-energy-demand applications, further impacting their market growth. The fluctuating prices of raw materials, particularly lead, also contribute to market instability. As lead is a critical component of these batteries, price volatility can directly affect production costs and profit margins for manufacturers. Lead Acid Battery Product Outlook Motive Stationary SLI Lead Acid Battery Construction Method Outlook Flooded Valve-regulated Lead-acid or VRLA Lead Acid Battery End User Outlook Industrial Commercial Telecommunication Oil and gas Stationary Residential Automotive Lead Acid Battery Regional Outlook North America US Canada Europe Germany France UK Italy Spain Rest of Europe Asia-Pacific China Japan India Australia South Korea Australia Rest of Asia-Pacific Rest of the World Middle East Africa Latin America Regional Analysis The lead-acid battery market demonstrates diverse growth patterns across regions, influenced by industrialization, urbanization, and energy infrastructure development. North America remains a significant market for lead-acid batteries, driven by the demand for backup power systems, automotive batteries, and renewable energy storage solutions. The United States, in particular, has a well-established lead-acid battery recycling infrastructure, which supports market sustainability. Furthermore, the growth of data centers and telecom networks in the region fuels the demand for reliable energy storage solutions. Europe is another prominent region in the lead-acid battery market, supported by stringent environmental regulations and strong recycling practices. Countries such as Germany, France, and the United Kingdom are leading adopters of lead-acid batteries in automotive and industrial applications. The European Union's commitment to renewable energy and grid stabilization further drives the demand for these batteries. The Asia-Pacific region dominates the global lead-acid battery market in terms of production and consumption. Rapid industrialization, urbanization, and infrastructure development in countries such as China, India, and Japan have created a robust demand for lead-acid batteries. The automotive industry's growth in this region, coupled with the expansion of renewable energy projects, makes Asia-Pacific a lucrative market for manufacturers. China, as the largest producer and consumer of lead-acid batteries, plays a pivotal role in shaping global market trends. In the Middle East and Africa, the market for lead-acid batteries is primarily driven by the need for backup power systems in remote and off-grid areas. The region's growing telecom sector and reliance on renewable energy solutions have further boosted the demand for lead-acid batteries. Related Reports: Fuel Tanker Service Market Gabon Oil And Gas Downstream Market About Market Research Future At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research Consulting Services. The MRFR team have a supreme objective to provide the optimum quality market research and intelligence services for our clients. Our market research studies by Components, Application, Logistics and market players for global, regional, and country level market segments enable our clients to see more, know more, and do more, which help to answer all their most important questions.
