Automotive Lead-Acid Battery Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024
The global automotive lead-acid battery market was worth US$ 12.5 Billion in 2018. Lead acid batteries are the oldest type of rechargeable batteries invented by Gaston Planté in 1859 and are used for the starting, lighting, and the ignition (SLI) process in the automobiles. These types of batteries use sponge lead (Pb) and lead peroxide (PbO2) plates immersed in sulfuric acid to convert chemical energy into electrical power. These batteries have been in the industry for 100 years and are still a popular source of energy storage. They are generally used in power stations and substations as they have high cell voltage and lower cost. In spite of having very low energy-to-weight ratio and a low energy-to-volume ratio, these batteries supply high surge currents which implies that their cells have a large power-to-weight ratio. This makes them highly compatible for motor vehicles in order to supply high current required by automobile starter motors. Apart from this, lead acid batteries also contribute in supplying voltage to various accessories in vehicles such as music systems, wipers, radio, air conditioners, charging plugs, etc.
The demand of automotive lead-acid batteries has a strong correlation with the global automobile industry. The global automobile market has exhibited strong performance across both developed and emerging markets after a period of sluggish growth as a result of the recent global economic crisis. Moreover, a spontaneous rise in the use of electric vehicles and e-bikes has also catalyzed the demand of lead acid batteries. Characteristics such as high current delivery, resistance to corrosion and abrasion, tolerance to overcharging, low internal impedance, etc. make them appropriate to be used in electric vehicles. On a regional basis, the Asia Pacific region represented the biggest driver of automotive lead acid batteries accounting for the bulk of the total sales. Asia Pacific was followed by North America and Europe. Looking forward, the market for lead acid batteries is projected to exceed US$ 15 Billion by 2024, exhibiting a CAGR of 3.1% during 2019-2024.
Based on the vehicle type, the market has been segmented into passenger cars, commercial vehicles, two-wheelers and HEV cars. Passenger cars currently represent the biggest application.
Based on the product type, the market has been segmented into SLI batteries and micro hybrid batteries.
Based on the type, the market has been segmented into flooded batteries, enhanced flooded batteries and VRLA batteries.
Based on the customer segment, the market has been segmented into OEM and replacement.
Region-wise, the market has been segmented into Asia Pacific, North America, Europe, Middle East and Africa, and Latin America. Amongst these, Asia Pacific is the biggest market, accounting for the majority of the global sales.
The competitive landscape of the market has also been examined with some of the key players being Johnson Controls Inc., Exide Technologies Inc., GS Yuasa Corporation, Reem Batteries & Power Appliances Co. Saoc, Enersys Inc., Saft Groupe S.A., Northstar Battery Company LLC., C&D Technologies, Inc., Robert Bosch GmbH, East Penn Manufacturing Company, Panasonic Corporation, Trojan Battery Company, Samsung Sdi Company Limited, Leoch International Technology Ltd, Exide Industries Ltd., Koyo Battery Co., Ltd., Tai Mao Battery Co., Ltd., PT Century Batteries Indonesia, Thai Bellco Battery Co.,Ltd. and CSB Battery Co., Ltd. (Hitachi Chemical Energy Technology Co. Ltd.).
Key Questions Answered in This Report:
How has the global automotive lead-acid battery market performed so far and how will it perform in the coming years?
What are the key regional markets in the global automotive lead-acid battery industry?
What is the breakup of the global automotive lead-acid battery market on the basis of vehicle type?
What is the breakup of the global automotive lead-acid battery market on the basis of product?
What is the breakup of the global automotive lead-acid battery market on the basis of type?
What is the breakup of the global automotive lead-acid battery market on the basis of customer segment?
What are the various stages in the value chain of the global automotive lead-acid battery market?
What are the key driving factors and challenges in the global automotive lead-acid battery market?
What is the structure of the global automotive lead-acid battery market and who are the key players?
What is the degree of competition in the global automotive lead-acid battery market?
How are automotive lead-acid batteries manufactured?
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