Lead Acid Battery Market Size, Share, Trends, Growth and Forecast 2032

Lead Acid Battery Market Insights

Zion Market Research has published a report on the global Lead Acid Battery Market, estimating its value at USD 2.68 Billion in 2023, with projections indicating that it will reach USD 4.68 Billion by 2032. The market is expected to expand at a compound annual growth rate (CAGR) of 6.4% over the forecast period 2024-2032.

The report explores the factors fueling market growth, the hitches that could hamper this expansion, and the opportunities that may arise in the Lead Acid Battery Market industry. Additionally, it offers a detailed analysis of how these elements will affect market demand dynamics and market performance throughout the forecast period.

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Market Overview

The lead acid battery is used as a source for energy storing and is transferred across different applications as an energy source in terms of electricity. This thusly is impacting the lead acid battery to grow in industry on the worldwide scale. These batteries comprise of a sulfuric acid arrangement electrolyte with lead dioxide as cathode and metallic lead as anode making these battery-powered. Electrolyte water is used as protection from consumption and low release rate are not many of the key highlights exhibited by lead acid battery which consequently enhances its market value.

EnerSys is reported as developed in assembling capacities at two manufacturing plant areas particular in Pennsylvania and Florida, to oblige the expanding request from the aviation and defence sections.

COVID-19 Impact Analysis

The lead acid battery industry is anticipated to witness slow growth during the forecast period due to the ongoing global pandemic of COVID-19. The government has imposed strict lockdown protocols along with social distancing mandates in order to curb the community spreading of the COVID-19, which directly affected the manufacturing of lead acid batteries. However, the business outlook is projected to improve with release of vaccination drives conducted globally which will bring normal situations to the manufacturing abilities thus improving the industry statistics of lead acid batteries in the near future.

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Growth Factors

Growing demand for automobiles has augmented the lead acid battery market forecasts over the last few years. These batteries hold a dominating position across the conventional automobile industry along with other applications including micro hybrid systems and vehicles with start-stop functionality, which in turn will drive the product penetration. Lead acid battery is witnessing a cyclical demand growth owing to the superior cranking power and soaring demand for advanced vehicle technologies. Customers across the globe are gaining more interest in power sports, which in turn is further boosting the market statistics for these units globally.

Improvement in the transportation business, alongside an expansion in energy storing application is projected to drive industry interest in the impending future. Rapid development of the business vehicle, cruiser, and traveler vehicle industrial ventures is additionally projected to drive the item interest. Developing interest for UPS in different areas, such as banking, oil and gas, medical services, and synthetic substances is emphatically driving the interest.

Technology Segment Analysis Preview

The lead acid battery market has been segmented, by technology, into basic lead acid battery & advanced lead acid battery. This segmentation is based on the nature of the application in which the battery unit is being used. A basic lead acid battery is most commonly used because of its cost-effectiveness. The nature of this battery impacts the applications in which it is being used and also the kind of users that are implementing the same.

End Use Industry Segment Analysis Preview

Lead acid batteries are used widely across industries. The market has been segmented, by end-user, into utility, transportation, industrial, and commercial & residential. The transportation segment dominated the market in 2018 and is expected to lead the lead-acid battery market during the forecast period. This is primarily because these batteries are cost-effective and are preferred for the installation in internal combustion vehicles for SLI applications.

Lead Acid Battery Market: Report Scope

Regional Analysis Preview

Asia Pacific dominated the global lead acid battery market in 2018 because the region comprises relatively developing countries that require cost-effective energy storage solutions. The industrial and commercial & residential sectors, along with the transportation sector, proved to be the major consumers of these battery systems. The Asia Pacific region is expected to lead the market during the forecast period. China, Singapore, South Korea, Japan, and India are considered the main industrial hubs and offer tremendous growth opportunities for the lead-acid battery market in this region.

Major regions including North America & Europe face harsh climatic conditions in winter seasons, which fuel the requirement for a power delivery system that offers high cranking performance. Low cost and operational reliability are few of the prominent factors augmenting the adoption of lead acid battery over the other available alternatives. Moreover, growing adoption of start stop technology across conventional vehicles in order to comply with the fuel efficiency standards will enhance the market trends of these units across SLI applications.

Key Market Players & Competitive Landscape

Some of key players in Lead Acid Battery market are:

• Clarios
• Exide Industries Limited
• Leoch
• Shangdong
• C&D Technologies
• GS Yuasa East
• Penn Zibo
• Furukawa Crown Battery
• B.B. Battery
• HOPPECKE
• First National Battery
• Koyo Battery
• Middle East Battery 
• Enersys

There are few of the recent trends and developments in the past few years.

• In November 2018, Exide Industries launched a new range of online UPS called Power NXT. This range of batteries would cater to the needs of the Small Office Home Office (SOHO) and large format retailers.
• In March 2017, North Star launched RED and RED HT batteries to expand its reserve power portfolio. The RED series uses pure lead TPPL technology to deliver a recharge time of 6 hours from 50% state of charge to 100%. The RED HT series uses pure lead high-temperature–TPPL-HT technology to deliver a long life up to 7 years and better performance at an operating temperature of 40°C (104°F). This battery is suitable for high-temperature applications.

The Lead Acid Battery market is segmented as follows:

By Technology

• Basic Lead Acid Battery
• Advanced Lead Acid Battery

By Type

• Stationary
• Motive

By End User

• Commercial
• Utility
• Transportation
• Manufacturing
• Residential
• Industrial
• Others

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa