Lead Acid Battery Market

Global Lead Acid Battery Market is valued at USD 42.33 Billion in 2021 and is expected to reach USD 59.97 Billion by 2028 with a CAGR of 5.1% over the forecast period.

Global Lead Acid Battery Market: Global Size, Trends, Competitive, and Historical & Forecast Analysis, 2021-2028: Developed automotive sector and growing use of commercial vehicles are some of the major factors driving the growth of the Global Lead Acid Battery Market.

Scope of Global Lead Acid Battery Market Report:-

Lead-acid batteries are the most frequently used kind of battery in photovoltaic systems. While lead-acid batteries have a low energy density, only moderate efficiency, and superior maintenance needs, they also have an extended lifetime and low costs compared to other battery types. Lead-acid batteries have high specific power and are good performance at low and high temperatures. It is one of the eldest kinds of rechargeable batteries invented in 1859 by the French physicist Gaston Plante.

The lead-acid battery industry witnessed sluggish growth during the pandemic of Covid-19 worldwide. The government has enforced stringent lockdown protocols along with social distancing obligations to curb the community dissemination of the coronavirus which has affected the various end-user industries. This has affected the demand for lead-acid batteries as well.

Global Lead Acid Battery Market Segmentation:-

The global lead-acid battery market is segmented based on the construction method, product type, sales channel, application, and geography. Based on the construction method, the global lead-acid battery market is segmented into flooded, and valve-regulated sealed lead-acid batteries (VRLA). Based on product type, the market is segmented into SLI, stationary, and motive. On basis of sales channels, the global lead-acid battery market is segmented as OEM and aftermarket. On the basis of application, the market is segmented into automotive, UPA, telecom, and others. 

By Construction Method:

• Flooded
• Valve Regulated Sealed Lead-acid battery (VRLA)

By Product:

• SLI
• Stationary
• Motive

By Sales Channel:

• OEM
• Aftermarket

By Application:

• Automotive
• UPA
• Telecom
• Others

Lead Acid Battery Manufacturers

Some of the key players for global Lead Acid Battery market are

• Furukawa Electric Co., Ltd.
• Hitachi Chemical Company, Ltd.
• Narada Power Source Co. Ltd.
• SiteTel Sweden AB (NorthStar)
• Clarios
• Leoch International Technology Ltd.
• Yokohama Batteries Sdn. Bhd.
• Enersys, Exide Industries Ltd.
• East Penn Manufacturing Co.
• Chaowei Power Holdings Limited.
• Zhangzhou Huawei Power Supply Technology Co., Ltd.
• B. B. Battery
• Camel Group Co., Ltd.
• Shandong Sacred Sun Power Sources Co. Ltd.
• Others

Recent Developments

News- Birla Carbon Launched Energy Storage Solutions

On November 26^th, 2021; The carbon black solutions manufacturer launched its Conductex e and Conductex i variety of products for lithium ion and lead acid battery applications at The Battery Show Europe 2021. With this launch, the company aimed at reaching out to energy storage market businesses in Europe and globally.

Recyclus Opened First Lead-Acid Battery Recycling Plant in England

On January 31^st, 2022; Minerals PLF, a London-based Technology company announced that Recyclus Group Ltd., a 49% Technology Minerals-owned company, has started its first lead-acid battery recycling plant in Tipton, England.

Global Lead Acid Battery Market Dynamics:-

Commercial vehicle, motorcycle, and passenger car manufacturing industries are rapidly increasing, and this is one of the aspects fostering the lead-acid battery market growth. Globally, sales of electric cars topped 2.1 million in 2019, exceeding 2018 already a record year to enhance the stock to 7.2 million electric cars. In addition to this, the number of passenger cars in China has been soaring increasingly since the last decade, reaching around 225 million in 2019. Lead-acid batteries are gradually increasing in passenger cars, commercial vehicles, and motorcycles. As a result, a growing number of commercial and passenger vehicles lead to drastic demand for lead-acid batteries. Consequently, this factor is augmenting the market sales across the world.

In addition, various product launches, mergers & acquisitions, and other market strategies by various market vendors are some other factors driving the lead-acid battery market. For example; in March 2019, GS Yuasa started a new automotive lead-acid battery plant in Turkey. The plant will be conducted by NCI GS Yuasa Akü Sanayi ve Ticaret Anonim ªirketi (“IGYA”) an equity affiliate of the GS Yuasa. The company also launched a new company named Siam GS Battery Myanmar Limited, in Myanmar. Additionally, in June 2018, Exide Industries purchased the Tudor plant of around 64,647 sq. m, in Gujarat from Exide Technologies. With a number of beneficial aspects and mature technology of the lead-acid battery, a number of players are contributing to the market by investing money.

However, the short life duration issues of lead-acid batteries are the factor, which may hamper the market growth. For example; in 2020, Okinawa discontinued the usage of Lead Acid batteries in its electric two-wheelers. The company will shift to using lithium-ion batteries for its EVs. Furthermore, the key telecom players in the business continue to invest in the growth and expansion of their processes and operations to capitalize on the progressively apparent opportunity for bolstered revenue generation streams.

Global Lead Acid Battery Market Regional Analysis:-

Asia Pacific is expected to capture the largest Share of the global lead-acid battery market with an increasing growth of the automotive sector in this region. In 2021, China's automotive industry generated roughly 21.4 million passenger cars. Covering an area spanning 29.3 million square kilometers and the Asia-Pacific region accounts for 60 percent of the world’s population. Several countries in the region, involving China and India, make up some of the fastest-developing nations in terms of population size. The region has a status as being home to certain of the world’s most valuable vehicle manufacturers. As lead-acid batteries have been mounted in almost every kind of vehicle. As a result, this factor is maintaining the dominance of the region across the world in the lead-acid battery market.

North America is expected to show a significant growth in the global lead-acid battery market owing to the presence of large numbers of players, and ongoing technological advancements in this region. The United States is the largest market in the industry in this region which is hugely contributing to the growth of the market. For example; in July 2019, Enersys assigned an approved status vendor for the National PRONTO Association. This allows Enersys to offer its Absorbed Glass Mat (AGM) ODYSSEY batteries to PRONTO warehouse distributor members. Apart from this, other many companies such as Crown Battery Corporation, East Penn Manufacturing Co, and others. This is flourishing the North American lead-acid battery market.

Report Analysis	Details
Historical data	2018 - 2021
Forecast Period	2021 - 2028
Market Size in 2021:	USD 42.33 Billion
Base year considered	2021
Forecast Period CAGR %:	5.1%
Market Size Expected in 2028:	USD 59.97 Billion
Tables, Charts & Figures:	175
Pages	200
Lead Acid Battery Manufacturers	Furukawa Electric Co., Ltd., Hitachi Chemical Company, Ltd., Narada Power Source Co. Ltd., SiteTel Sweden AB (NorthStar), Clarios, Leoch International Technology Ltd., Yokohama Batteries Sdn. Bhd., Enersys, Exide Industries Ltd., East Penn Manufacturing Co., Chaowei Power Holdings Limited., Zhangzhou Huawei Power Supply Technology Co., Ltd., B. B. Battery, Camel Group Co., Ltd., and Shandong Sacred Sun Power Sources Co. Ltd. and others.
Segments Covered	By Construction Method, By Product, By Sales Channel, By Application
Regional Analysis	North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa

 

Key Benefits of Global Lead Acid Battery Industry Report:-

• Global Lead Acid Battery Industry report covers in-depth historical and forecasts analysis.
• Global Lead Acid Battery Industry research report provides detailed information about Market Introduction, Market Summary, Global market Revenue (Revenue USD), Market Drivers, Market Restraints, Market opportunities, Competitive Analysis, and Regional and Country Level.
• Global Lead Acid Battery Industry report helps to identify opportunities in the marketplace.
• Global Lead Acid Battery Industry report covers extensive analysis of emerging trends and the competitive landscape.