Key Market Overview:
Lead-acid battery market is anticipated to reach over USD 94.40 Billion by 2030 from a worth of USD 64.88 Billion in 2022, growing at a CAGR of 4.8% from 2022 to 2030.
Lead-acid batteries, also known as Pb-acid batteries, are rechargeable type batteries, invented by Gaston Planté in 1859. Compared to modern-day\'s batteries, they have a relatively low energy density, moderate efficiency high maintenance requirements. However, they have a long lifetime, a large power-to-weight ratio, and are cost-effective which makes them surging in the lead-acid battery market for high inrush currents. Lead-acid-based batteries contain negative and positive electrodes made of porous lead and lead oxide respectively. Both of these electrodes are submerged in a solution of water and sulfuric acid called an electrolytic solution.
The market for lead-acid battery is primarily driven by the constant advancements in various sectors such as automotive (micro hybrid vehicles and motorcycles) and telecommunication (power backup supplies). Further, the growing technological infrastructure is expected to require contant energy source to support the online network of crucial business activities. For instance, technologies like AI and 5G for the Internet Of Things (IoT) are serving as game changers across the whole globe. Moreover, rapid development in the automobile sector with growth in energy storage requirements is also anticipated to grow the lead-acid battery market.
Furthermore, sectors such as healthcare, oil & gas, and chemical are also projected to surge the demand for lead-acid batteries owing to the increasing need for UPS(uninterruptible power supply).
|Market Size in 2030 (USD Billion)
|SLI, Stationary, and Motive.
|Flooded and VRLA (AGM (Absorbed Glass Mat) and Gel (Gelled Electrolytes))
|Pasted Flat Plates and Tubular plates
|Automotive, UPS, Telecommunication, Electric Bikes, Transport Vehicles, and Others
|Asia-Pacific [China, Southeast Asia, India, Japan, Korea, Western Asia] Europe [Germany, UK, France, Italy, Russia, Spain, Netherlands, Turkey, Switzerland] North America [United States, Canada, Mexico] Middle East & Africa [GCC, North Africa, South Africa] South America [Brazil, Argentina, Columbia, Chile, Peru]
|HOPPECKE , C&D Technologies Inc., East Penn Manufacturing Company, Enersys, GS Yuasa Corporation, Exide Industries Limited, Hankook AtlasBX Co. Ltd., HBL Power Systems Ltd., Hitachi Chemical Co. Ltd., Teledyne Technologies Inc
The growing requirement for renewable energy production across the globe is serving as the major key driver for the market. Moreover, increasing demand for energy storage devices is also boosting the lead-acid battery market. Furthermore, with increasing advancements in the telecommunication sector and a total of 1.17 billion subscribers, the demand for lead-acid batteries increases in which power is needed on an emergency basis. Therefore, fueling the market growth in the telecommunication sector. Moreover, Pb-acid batteries are simple and inexpensive to manufacture, which makes them ideal for usage in several rechargeable battery systems. Thus, this factor of manufacturing creates favorable
Although the low cost of lead-acid batteries and high demand in various sectors is an undeniable advantage. However, the alternatives present in the market such as lithium-ion batteries are more efficient and have a high energy density. Therefore increasing the adoption of lithium-ion-based batteries or any other more efficient batters hinders the market growth. Furthermore, the increasing awareness of the environment among consumers and manufacturers have made them shift to less harmful alternative as lead recycling is becoming a raising cause of environmental contamination.
The lead-acid industry has been significantly impacted due to the COVID-19 pandemic in many different parts of the world. The factors such as transportation restrictions, uncertain consumer demand, and limited availability of raw materials are the major impacts of COVID-19 which hampered the market growth. Shipments were impacted during the initial lockdown due to the trade restrictions and the closure of a manufacturing facility owing to the government-imposed lockdowns. However, the circumstances have stabilized and as a result, it is determined that COVID-19s overall impact on the industry is moderate.
Lead-Acid Battery Market Segmentation:
The type segment is categorized into SLI, motive, and stationary. The SLI segment is anticipated to contribute the largest shares to the market growth in terms of revenue. These batteries find a wide variety of applications in terms of starting, lighting, and igniting in the automobile sectors. They are installed in a vehicle system to follow up continuous charging and discharging whenever the vehicle is in use. Combustion vehicles such as cars, and trucks use SLI batteries, hence increasing the market demand for lead-acid batteries. With the growing population in countries such as China, Japan, and India, the demand for vehicle manufacturing is expected to witness a surge that leads to the expansion of the lead-acid battery market. Furthermore, the motive batteries type is also projected to contribute steady growth in terms of market shares in the forecasted future. The motive batteries power the motor that drives electric vehicles such as forklift trucks coupled with headlights on the vehicle.
The structure segment is bifurcated into the flooded and VRLA. The VRLA or sealed batteries segment is expected to contribute the largest shares in terms of volume. Modern-day vehicles take advantage of the AGM-type VRLA lead-acid batteries to decrease the spill of acid. They are used for maintenance and navigation purposes. Moreover, these batteries find a wide variety of applications in power wheelchairs and UPS. The flooded lead-acid batteries segment is also projected to hold steady growth in terms of market statistics. They are mostly considered cost-effective batteries. Flooded lead-acid batteries are a type of lead-acid battery in which the cells contain liquid electrolyte, as opposed to sealed or maintenance-free lead-acid batteries in which the cells contain a gel or absorbed electrolyte. These batteries are typically used in automobiles, boats, and backup power systems for homes and businesses. They are also used in renewable energy systems, such as solar and wind power systems, to store energy for use during the absence of sun and wind for energy generation.
The plate segment is bifurcated into pasted-flat plates and tubular plates. The pasted-flat plates are estimated to hold the largest share in terms of shares. These plates are mass-produced by casting. They are largely used in cars and trucks as they have a long service life and can withstand the vibration and shock of regular use. The main reason is due to the reduced requirement for maintenance, long service life, better performance in high temperatures, and handling greater discharge rates. All these properties help in the favorable usage of pasted-flat plates in telecommunication and UPS systems to provide backup power in the event of a power outage. Further, the tubular plates segment is also estimated to hold substantial shares in the market growth. Several advantages are provided by these plates such as high porosity, low electrical resistance, semi-rigid stability, and high short-circuit resistance make them find a wide variety of applications. They are potentially used in the positive plates of large industrial batteries.
The application segment is separated into automotive, UPS, telecommunication, electric bikes, transport vehicles, and others. Telecommunication contributes the largest market shares in terms of revenue and volume. With rapid digitalization and advancements in technologies, the telecommunication sector has expanded in during the last decade. Due to this expansion, the use of lead-acid-based batteries market is also expected to grow substantially. Moreover, the installation of various towers and data centers in the upcoming future is also driving the lead-acid battery market. Moreover, the automobile sector, with an increasing population, is also expected to grow. Lead-acid batteries have been used in automobiles for a long period due to their proven reliability and relatively low cost. They are also comparatively easy to maintain and can be easily replaced when needed. Additionally, lead-acid batteries are also used in hybrid and electric vehicles (EVs) as a power source for the auxiliary power unit (APU) and for regenerative braking. In hybrid vehicles, this battery is used to store energy from regenerative braking, which is then used to power the electric motor and other electrical systems.
The regional segment comprises Asia Pacific, Europe, North America, Latin America, and the Middle East, Africa. Asia Pacific is estimated to contribute the largest share due to several factors. The large presence of market players such as TATA, Infinium Toyota, Hyundai, Honda, and many more primarily boost the demand for lead-acid batteries in this region. Furthermore, the growing demand for lead-acid batteries for energy storage purposes in established telecommunication sector within this region is expected to support the market growth during the forecast period.
Moreover, the growing innovation and industrialization in countries, such as India also supports the high usage of lead-acid batteries as backup power systems and renewable energy systems. Hence, the growth and advancements required in different sectors such as automobiles, telecommunication, and others are serving as the major key drivers in this specific region for the lead acid battery market.
Lead-Acid Battery Market Competitive Landscape:
The published market research report offers a comprehensive analysis of macroeconomic indicators such as market dynamics, segmental analysis, SWOT analysis, and others. Market players have an opportunity to expand their business portfolio offerings by getting an inclusive understanding of crucial factors from the report. The factors such as mergers & acquisitions, market trends, product innovations and launches, product developments, and business strategies. Listed are the main market firms that make up the current market concentration–
• C&D Technologies Inc.
• East Penn Manufacturing Company
• Enersys, Exide Industries Limited
• GS Yuasa Corporation
• Hankook AtlasBX Co. Ltd.
• HBL Power Systems Ltd.
• Hitachi Chemical Co. Ltd.
• Teledyne Technologies Inc
• In November 2022, Amara Raja Batteries, an India-based company launched a new supplementary to the forefront with the addition of lithium-ion tech to its lead-acid battery manufacturing functions.
• In July 2019, the National PRONTO association appointed Enersys as a vendor for the, enabling it to access AGM (Absorbed glass matt) ODYSSEY batteries to PRONTO warehouse distributor members.