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Lead Acid Battery Market

Publisher Fortune Business Insights Pvt. Ltd.
Published Oct 01, 2024
Length 180 Pages
SKU # FOB19224328

Description

Lead Acid Battery Market



Growth Factors of Lead Acid Battery Market

The lead acid battery market size was valued at USD 45.84 billion in 2023, and the market is now projected to grow from USD 48.32 billion in 2024 to USD 71.68 billion by 2032, exhibiting a CAGR of 5.05% during the forecast period of 2024-2032.

COVID-19 negatively impacted the lead acid battery market growth through a temporary shutdown in manufacturing and supply chain issues especially within automobile industries. This slowdown impacted both electronic and automotive equipment production. However, recovery began in 2022, with an expected boost in manufacturing activities. This rebound is anticipated to positively influence the production of automotive lead acid batteries and related hardware components. The market is gradually regaining momentum.

The rising demand for cost-effective power backup systems across industries such as oil & gas, telecom and automotive is driving lead acid battery market share. Lead acid batteries offer advantages such as low capital cost, high current capacity and better energy efficiency per cycle. Their high recyclability, with over 90% in some countries, helps reduce costs and environmental impact. These factors make lead acid batteries a preferred choice for power backup. Their affordability and sustainability ensure continued market dominance.

Furthermore, developments such as the AGM and Gel VRLA batteries have far longer lifecycles than the flooded lead-acid batteries, cheaper and easier maintenance also the battery discharge performance. New materials and techniques enhance the electrodes’ capability of transmitting current with durability and energy density. Technological advancement and increased production efficiency have led to dropping manufacturing costs for lead acid batteries. New designs are suited for current production automobiles and intricate electrical networks. These developments make lead acid batteries credible contenders in backup power, UPS and off-grid energy storage systems.

Comprehensive Analysis of Lead Acid Battery Market

The lead acid battery market and power & energy industry are rising due to its market segmentation. This market expansion effectively provides detailed regional assessments considering the dominant supply and demand forces that impact the battery industry. These segmentations are methodically segregated by types and by applications. The type include, Flooded and VRLA {AGM, GEL}. The application includes, SLI, Stationary, E-Bikes, Low Speed EVs and Others.

Asia Pacific dominates the lead acid battery market, with key contributors such as China, India, Japan and South Korea. These factors include automobile production, industrialization and UPS systems demand that have been rising in the region. The largest demand sources are within the automobile industry, focusing more on the electric vehicle (EV) market. Currently, lead acid batteries are extensively used in EVs and their acceptance has been growing constantly. This growth is aligned with efforts to reduce the carbon footprint in the region.

The top players in the market play a crucial role in the power & energy industry assuring industrial prospectus growth and setting market standards. These players include, Brookfield Business Partners (Bermuda), GS Yuasa (Japan), EnerSys (U.S.), Exide Industries Ltd. (India), East Penn Manufacturing (U.S.), FENGFAN (China), Luminous Power Technologies Pvt. Ltd. (India), FIAMM (Italy), HBL Power Systems Ltd. (India), Amara Raja Batteries Ltd. (India) and Su-Kam Power Systems Ltd. (India). These market players provide a level-playing competitive landscape.

In January 2022, Recyclus opened the first lead acid battery recycling plant in England in Tipton. This facility is expected to increase the company’s recycling throughput starting with an estimated 16,000TPA in its first year to approximately 80,000TPA in 2027.

Segmentation Table

Global Lead Acid Battery Market Scope

Study Period 2019-2032

Base Year 2023

Forecast Period 2024-2032

Growth Rate CAGR of 5.05% from 2024 to 2032

Historical Period 2019-2022

Unit Value (USD Billion)

Segmentation By Type, Application, and Region

By Type
  • Flooded
    • VRLA
    • AGM
    • GEL
    By Application
  • SLI
    • Stationary
    • E-Bikes
    • Low Speed EVs
    • Others
    By Region
  • North America (By Type, By Application, and By Country)
    • U.S. (By Application)
    • Canada (By Application)
    • Europe (By Type, By Application, and By Country)
    • U.K. (By Application)
    • Germany (By Application)
    • France (By Application)
    • Italy (By Application)
    • Spain (By Application)
    • Russia (By Application)
    • Rest of Europe (By Application)
    • Asia Pacific (By Type, By Application, and By Country)
    • China (By Application)
    • India (By Application)
    • Japan (By Application)
    • Australia (By Application)
    • Southeast Asia (By Application)
    • Rest of Asia Pacific (By Application)
    • Latin America (By Type, By Application, and By Country)
    • Brazil (By Application)
    • Mexico (By Application)
    • Rest of Latin America (By Application)
    • Middle East and Africa (By Type, By Application, and By Country)
    • GCC (By Application)
    • South Africa (By Application)
    • Rest of Middle East & Africa (By Application)

    Table of Contents

    180 Pages
    1. Introduction
    1.1. Research Scope
    1.2. Market Segmentation
    1.3. Research Methodology
    1.4. Definitions & Assumptions
    2. Executive Summary
    3. Market Dynamics
    3.1. Market Drivers
    3.2. Market Restraints
    3.3. Market Opportunities
    4. Key Insights
    4.1. Key Emerging Trends – For Major Countries
    4.2. Latest Technological Advancement
    4.3. Insight on Regulatory Landscape
    4.4. Porters Five Forces Analysis
    4.5. Impact of COVID-19 on the Lead Acid Battery Market
    5. Global Lead Acid Battery Market (USD Billion) Analysis, Insights, and Forecast, 2019-2032
    5.1. Key Findings
    5.2. Market Analysis, Insights and Forecast – By Type
    5.2.1. Flooded Lead Acid Battery
    5.2.2. Valve Regulated Lead–Acid Battery (VRLA)
    5.2.2.1. Absorbent Glass Mat Battery (AGM)
    5.2.2.2. GEL Battery
    5.3. Market Analysis, Insights and Forecast – By Application
    5.3.1. Starting, Lighting & Ignition (SLI)
    5.3.2. Stationary
    5.3.3. E-Bikes
    5.3.4. Low Speed EV’s
    5.3.5. Others
    5.4. Market Analysis, Insights and Forecast – By Region
    5.4.1. North America
    5.4.2. Europe
    5.4.3. Asia Pacific
    5.4.4. Latin America
    5.4.5. Middle East & Africa
    6. North America Lead Acid Battery Market (USD Billion) Analysis, Insights, and Forecast, 2019-2032
    6.1. Key Findings
    6.2. Market Analysis, Insights and Forecast – By Type
    6.2.1. Flooded Lead Acid Battery
    6.2.2. Valve Regulated Lead–Acid Battery (VRLA)
    6.2.2.1. Absorbent Glass Mat Battery (AGM)
    6.2.2.2. GEL Battery
    6.3. Market Analysis, Insights and Forecast – By Application
    6.3.1. Starting, Lighting & Ignition (SLI)
    6.3.2. Stationary
    6.3.3. E-Bikes
    6.3.4. Low Speed EV’s
    6.3.5. Others
    6.4. Market Analysis, Insights and Forecast – By Country
    6.4.1. US Market Analysis, Insights and Forecast – By Application
    6.4.1.1. Starting, Lighting & Ignition (SLI)
    6.4.1.2. Stationary
    6.4.1.3. E-Bikes
    6.4.1.4. Low Speed EV’s
    6.4.1.5. Others
    6.4.2. Canada Market Analysis, Insights and Forecast – By Application
    6.4.2.1. Starting, Lighting & Ignition (SLI)
    6.4.2.2. Stationary
    6.4.2.3. E-Bikes
    6.4.2.4. Low Speed EV’s
    6.4.2.5. Others
    7. Europe Lead Acid Battery Market (USD Billion) Analysis, Insights, and Forecast, 2019-2032
    7.1. Key Findings
    7.2. Market Analysis, Insights and Forecast – By Type
    7.2.1. Flooded Lead Acid Battery
    7.2.2. Valve Regulated Lead–Acid Battery (VRLA)
    7.2.2.1. Absorbent Glass Mat Battery (AGM)
    7.2.2.2. GEL Battery
    7.3. Market Analysis, Insights and Forecast – By Application
    7.3.1. Starting, Lighting & Ignition (SLI)
    7.3.2. Stationary
    7.3.3. E-Bikes
    7.3.4. Low Speed EV’s
    7.3.5. Others
    7.4. Market Analysis, Insights and Forecast – By Country
    7.4.1. UK Market Analysis, Insights and Forecast – By Application
    7.4.1.1. Starting, Lighting & Ignition (SLI)
    7.4.1.2. Stationary
    7.4.1.3. E-Bikes
    7.4.1.4. Low Speed EV’s
    7.4.1.5. Others
    7.4.2. Germany Market Analysis, Insights and Forecast – By Application
    7.4.2.1. Starting, Lighting & Ignition (SLI)
    7.4.2.2. Stationary
    7.4.2.3. E-Bikes
    7.4.2.4. Low Speed EV’s
    7.4.2.5. Others
    7.4.3. France Market Analysis, Insights and Forecast – By Application
    7.4.3.1. Starting, Lighting & Ignition (SLI)
    7.4.3.2. Stationary
    7.4.3.3. E-Bikes
    7.4.3.4. Low Speed EV’s
    7.4.3.5. Others
    7.4.4. Italy Market Analysis, Insights and Forecast – By Application
    7.4.4.1. Starting, Lighting & Ignition (SLI)
    7.4.4.2. Stationary
    7.4.4.3. E-Bikes
    7.4.4.4. Low Speed EV’s
    7.4.4.5. Others
    7.4.5. Spain Market Analysis, Insights and Forecast – By Application
    7.4.5.1. Starting, Lighting & Ignition (SLI)
    7.4.5.2. Stationary
    7.4.5.3. E-Bikes
    7.4.5.4. Low Speed EV’s
    7.4.5.5. Others
    7.4.6. Russia Market Analysis, Insights and Forecast – By Application
    7.4.6.1. Starting, Lighting & Ignition (SLI)
    7.4.6.2. Stationary
    7.4.6.3. E-Bikes
    7.4.6.4. Low Speed EV’s
    7.4.6.5. Others
    7.4.7. Rest of Europe Market Analysis, Insights and Forecast – By Application
    7.4.7.1. Starting, Lighting & Ignition (SLI)
    7.4.7.2. Stationary
    7.4.7.3. E-Bikes
    7.4.7.4. Low Speed EV’s
    7.4.7.5. Others
    8. Asia Pacific Lead Acid Battery Market (USD Billion) Analysis, Insights, and Forecast, 2019-2032
    8.1. Key Findings
    8.2. Market Analysis, Insights and Forecast – By Type
    8.2.1. Flooded Lead Acid Battery
    8.2.2. Valve Regulated Lead–Acid Battery (VRLA)
    8.2.2.1. Absorbent Glass Mat Battery (AGM)
    8.2.2.2. GEL Battery
    8.3. Market Analysis, Insights and Forecast – By Application
    8.3.1. Starting, Lighting & Ignition (SLI)
    8.3.2. Stationary
    8.3.3. E-Bikes
    8.3.4. Low Speed EV’s
    8.3.5. Others
    8.4. Market Analysis, Insights and Forecast – By Country
    8.4.1. China Market Analysis, Insights and Forecast – By Application
    8.4.1.1. Starting, Lighting & Ignition (SLI)
    8.4.1.2. Stationary
    8.4.1.3. E-Bikes
    8.4.1.4. Low Speed EV’s
    8.4.1.5. Others
    8.4.2. India Market Analysis, Insights and Forecast – By Application
    8.4.2.1. Starting, Lighting & Ignition (SLI)
    8.4.2.2. Stationary
    8.4.2.3. E-Bikes
    8.4.2.4. Low Speed EV’s
    8.4.2.5. Others
    8.4.3. Japan Market Analysis, Insights and Forecast – By Application
    8.4.3.1. Starting, Lighting & Ignition (SLI)
    8.4.3.2. Stationary
    8.4.3.3. E-Bikes
    8.4.3.4. Low Speed EV’s
    8.4.3.5. Others
    8.4.4. Australia Market Analysis, Insights and Forecast – By Application
    8.4.4.1. Starting, Lighting & Ignition (SLI)
    8.4.4.2. Stationary
    8.4.4.3. E-Bikes
    8.4.4.4. Low Speed EV’s
    8.4.4.5. Others
    8.4.5. Southeast Asia Market Analysis, Insights and Forecast – By Application
    8.4.5.1. Starting, Lighting & Ignition (SLI)
    8.4.5.2. Stationary
    8.4.5.3. E-Bikes
    8.4.5.4. Low Speed EV’s
    8.4.5.5. Others
    8.4.6. Rest of Asia Pacific Market Analysis, Insights and Forecast – By Application
    8.4.6.1. Starting, Lighting & Ignition (SLI)
    8.4.6.2. Stationary
    8.4.6.3. E-Bikes
    8.4.6.4. Low Speed EV’s
    8.4.6.5. Others
    9. Latin America Lead Acid Battery Market (USD Billion) Analysis, Insights, and Forecast, 2019-2032
    9.1. Key Findings
    9.2. Market Analysis, Insights and Forecast – By Type
    9.2.1. Flooded Lead Acid Battery
    9.2.2. Valve Regulated Lead–Acid Battery (VRLA)
    9.2.2.1. Absorbent Glass Mat Battery (AGM)
    9.2.2.2. GEL Battery
    9.3. Market Analysis, Insights and Forecast – By Application
    9.3.1. Starting, Lighting & Ignition (SLI)
    9.3.2. Stationary
    9.3.3. E-Bikes
    9.3.4. Low Speed EV’s
    9.3.5. Others
    9.4. Market Analysis, Insights and Forecast – By Country
    9.4.1. Brazil Market Analysis, Insights and Forecast – By Application
    9.4.1.1. Starting, Lighting & Ignition (SLI)
    9.4.1.2. Stationary
    9.4.1.3. E-Bikes
    9.4.1.4. Low Speed EV’s
    9.4.1.5. Others
    9.4.2. Mexico Market Analysis, Insights and Forecast – By Application
    9.4.2.1. Starting, Lighting & Ignition (SLI)
    9.4.2.2. Stationary
    9.4.2.3. E-Bikes
    9.4.2.4. Low Speed EV’s
    9.4.2.5. Others
    9.4.3. Rest of Latin America Market Analysis, Insights and Forecast – By Application
    9.4.3.1. Starting, Lighting & Ignition (SLI)
    9.4.3.2. Stationary
    9.4.3.3. E-Bikes
    9.4.3.4. Low Speed EV’s
    9.4.3.5. Others
    10. Middle East & Africa Lead Acid Battery Market (USD Billion) Analysis, Insights, and Forecast, 2019-2032
    10.1. Key Findings
    10.2. Market Analysis, Insights and Forecast – By Type
    10.2.1. Flooded Lead Acid Battery
    10.2.2. Valve Regulated Lead–Acid Battery (VRLA)
    10.2.2.1. Absorbent Glass Mat Battery (AGM)
    10.2.2.2. GEL Battery
    10.3. Market Analysis, Insights and Forecast – By Application
    10.3.1. Starting, Lighting & Ignition (SLI)
    10.3.2. Stationary
    10.3.3. E-Bikes
    10.3.4. Low Speed EV’s
    10.3.5. Others
    10.4. Market Analysis, Insights and Forecast – By Country
    10.4.1. GCC Market Analysis, Insights and Forecast – By Application
    10.4.1.1. Starting, Lighting & Ignition (SLI)
    10.4.1.2. Stationary
    10.4.1.3. E-Bikes
    10.4.1.4. Low Speed EV’s
    10.4.1.5. Others
    10.4.2. South Africa Market Analysis, Insights and Forecast – By Application
    10.4.2.1. Starting, Lighting & Ignition (SLI)
    10.4.2.2. Stationary
    10.4.2.3. E-Bikes
    10.4.2.4. Low Speed EV’s
    10.4.2.5. Others
    10.4.3. Rest of Middle East & Africa Market Analysis, Insights and Forecast – By Application
    10.4.3.1. Starting, Lighting & Ignition (SLI)
    10.4.3.2. Stationary
    10.4.3.3. E-Bikes
    10.4.3.4. Low Speed EV’s
    10.4.3.5. Others
    11. Competitive Analysis
    11.1. Company Market Share Analysis, 2023
    11.2. Company Profile
    11.2.1. Clarios
    11.2.1.1. Business Overview
    11.2.1.2. Product Application, & Services
    11.2.1.3. Recent Developments
    11.2.1.4. Financials (Based on Availability)
    11.2.2. GS Yuasa
    11.2.2.1. Business Overview
    11.2.2.2. Product Application, & Services
    11.2.2.3. Recent Developments
    11.2.2.4. Financials (Based on Availability)
    11.2.3. Enersys
    11.2.3.1. Business Overview
    11.2.3.2. Product Application, & Services
    11.2.3.3. Recent Developments
    11.2.3.4. Financials (Based on Availability)
    11.2.4. Exide
    11.2.4.1. Business Overview
    11.2.4.2. Product Application, & Services
    11.2.4.3. Recent Developments
    11.2.4.4. Financials (Based on Availability)
    11.2.5. East Penn
    11.2.5.1. Business Overview
    11.2.5.2. Product Application, & Services
    11.2.5.3. Recent Developments
    11.2.5.4. Financials (Based on Availability)
    11.2.6. C&D
    11.2.6.1. Business Overview
    11.2.6.2. Product Application, & Services
    11.2.6.3. Recent Developments
    11.2.6.4. Financials (Based on Availability)
    11.2.7. Camel
    11.2.7.1. Business Overview
    11.2.7.2. Product Application, & Services
    11.2.7.3. Recent Developments
    11.2.7.4. Financials (Based on Availability)
    11.2.8. Panasonic
    11.2.8.1. Business Overview
    11.2.8.2. Product Application, & Services
    11.2.8.3. Recent Developments
    11.2.8.4. Financials (Based on Availability)
    11.2.9. Luminous
    11.2.9.1. Business Overview
    11.2.9.2. Product Application, & Services
    11.2.9.3. Recent Developments
    11.2.9.4. Financials (Based on Availability)
    11.2.10. Hitachi
    11.2.10.1. Business Overview
    11.2.10.2. Product Application, & Services
    11.2.10.3. Recent Developments
    11.2.10.4. Financials (Based on Availability)

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