Lead Acid Battery Market

Lead Acid Battery Market was valued at USD 70.3 Billion in 2022 and is expected to touch USD 105.5 Billion in 2030 and is forecast to expand at 5.2% CAGR during forecast period. Emerging need for a highly reliable and effective power solution is likely to augment the lead acid battery market growth.

Lead Acid Battery Market Overview

Lead acid battery is one of the oldest types of rechargeable batteries and is widely used in photovoltaic systems. This type of battery has a negative electrode made of spongy or porous lead. The positive electrode includes lead oxide, and both electrodes are immersed in an electrolytic solution of sulfuric acid and water.

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Major Lead Acid Battery Market Drivers

The lead-acid battery market is poised to witness a remarkable growth in upcoming years and will offer abundant opportunities to the players. The major factor fueling the market growth include the expansion of transportation industry. In addition, increasing incorporation of lead acid batteries in the Uninterruptible Power Source (UPS) have stimulated their application in healthcare, oil and gas, chemicals and banking, driving the market growth. Growing need for a highly reliable and effective energy solution and decreasing prices of lead are strengthening the lead acid battery market size.

Rising demand for electric cars and motorcycles and growing demand for sustainable renewable energy source will augment the market share. According to the report by Bloomberg, the Global Connected Motorcycle Market is anticipated to attain a value of USD 757 million by 2027, growing at a vigorous CAGR of 54.7%, which will boost the Global Lead Acid Battery Market. However, the presence of lead content as a raw material in batteries can cause harmful effects to the environment, which might hamper the market growth. In addition, the growing demand for lithium-ion batteries will also impede the lead acid battery market share.

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Construction Method – Segment Analysis

As per the Lead Acid Battery Market Report, Flooded lead-acid battery is expected to dominate the market over the forecast period, owing to the increasing marine trade activities. The increasing incorporation of flooded lead acid batteries in forklift trucks, owing to their cost-efficiency and productivity has strengthened the segment’s size.

VRLA lead-acid battery will witness a faster CAGR over the forecast period, because of their remarkable properties which include enlarged shelf life, easy installation, low maintenance, and a low self-discharge rate. VRLA batteries are available in various sizes and offer a high output, thus, strengthening their application in the automotive industry, fueling the market share.

End-User – Segment Analysis

Automotive end-use industry is projected to expand at a higher CAGR over the forecast period. With the growing awareness pertaining harmful impacts of carbon emission, the demand for electric vehicles has increased, driving the lead acid battery, owing to their low internal resistivity, high current delivery, and corrosion resistant properties. According to the Society of Indian Automobiles Manufacturers, the total automotive sales increased by 14.22% in 2017-2018 over 2016-2017. Expansion in automobile sales will lead to the growth of SLI lead-acid batteries. Increasing research and development activities by the leading player including Maruti Suzuki, Infinium Toyota, Mahindra, Mitsubishi, will further expand the market size.

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Regional – Segment Analysis:

Asia-Pacific is predicted to witness a higher CAGR over the forecast period, owing to the growing demand for electric vehicles and rapid industrialization. In addition, the expansion of automobile industry and development of telecommunication infrastructure are expected to propel the market growth.

Top Market Players

Several top companies in the market include ENERSYS, EXIDE INDUSTRIES LTD., GS Yuasa International Ltd., Clarios, Panasonic Corporation, Chaowei Power Holdings Limited, Narada Power Source Co., Ltd., HBL Power Systems Limited, CROWN BATTERY, and Johnson Controls, and others.

Key Developments:

• • In 2021, Amara Raja Batteries decided to invest USD 1 billion in the next five to seven years toward capital expenditure for both organic and inorganic growth. The battery maker will emphasize more on energy storage systems, such as lithium-ion technology, keeping in check market trends and the lead-acid battery market’s growth.
  • In 2020: Bharat Heavy Electricals Limited (BHEL) agreed to the proposal offered the Energy and Resources Institute (TERI) to install and maintain battery energy storage systems (BESS) in Delhi.
  • In 2019, ENERSYS expanded the manufacturing presence at two factory locations called Pennsylvania and Florida, in order to meet the growing demand of the end-users.
  • In 2019, GS Yuasa International Ltd., opened a new automotive lead-acid battery plant in Turkey. This plant operates by Inci GS Yuasa Akü Sanayi ve Ticaret Anonim Şirketi (IGYA), an equity affiliate of GS Yuasa.
  • In 2018, Exide Industries introduced a new range of online UPS called Power NXT. These batteries will meet the need of the Small Office Home Office (SOHO) and large format retailers.

Segments covered in the Report:

The global lead acid market has been segmented on the basis of construction method, type, end-user, and regions. Based on construction method, the market is segmented into VLRA and Flooded. Based on the Type, the market is segmented into stationery and motive. Based on the end-user, the market is segmented into automotive, commercial and residential, telecom, industrial, and others. 

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Market Segmentation

Global Lead Acid Market by Construction Method

• • VLRA
  • Flooded

Global Lead Acid Market by Type

• • Stationary
  • Motive

Global Lead Acid Market by End-User

• • Automotive
  • Commercial And Residential
  • Telecom
  • Industrial
  • Others

Global Lead Acid Market by Region

• • North America Lead Acid Market (Option 1: As a part of the free 25% customization)

    • By Construction Method
    • By Type
    • By End-User
    • US Market All-Up
    • Canada Market All-Up

  • Europe Lead Acid Market (Option 2: As a part of the free 25% customization)

    • By Construction Method
    • By Type
    • By End-User
    • UK Market All-Up
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up

  • Asia-Pacific Lead Acid Market (Option 3: As a part of the free 25% customization)

    • By Construction Method
    • By Type
    • By End-User
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up

  • RoW Lead Acid Market (Option 4: As a part of the free 25% customization)

    • By Construction Method
    • By Type
    • By End-User
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Major Players Operating in the Global Lead Acid Market (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • ENERSYS
  • EXIDE INDUSTRIES LTD.
  • GS Yuasa International Ltd.
  • Clarios
  • Panasonic Corporation
  • Chaowei Power Holdings Limited
  • Narada Power Source Co., Ltd.
  • HBL Power Systems Limited
  • CROWN BATTERY
  • Johnson Controls