Rising urbanization is creating a huge demand for UPS in industrial sectors, technological advancements and augmented use of electric & hybrid vehicles. These are also some of the factors driving the growth of the global lead-acid battery market. Thus, the lead-acid battery market size across the globe is expected to mount at a CAGR of more than 4% and reach a value of $107.59 billion over the forecast period. However, there are also certain factors restraining the market growth like strong competition and strict government regulations. An electrochemical energy storage device that uses lead peroxide & sponge lead for converting the chemical energy to electrical power for performing any work (for instance starting car engine) is called a lead-acid battery. Lead-acid batteries were invented by a French physicist Gaston Planté in the year 1859 and initially was demonstrated to a French Academy of Sciences in 1860. Lead-acid batteries are widely known for rechargeable energy storage solutions for many vehicles (like cars & trucks) and for being an upright choice for boats, submarines & uninterruptible power supplies (UPS).
Global lead-acid battery market is classified into different segments like by product, construction method, application or end-user and key regions operating in the lead-acid battery market. Further product segment has been sub-divided to motive, stationary and SLI. In addition, product segment is dominated by SLI division and is predicted to grow at a healthy rate as compared to motive and stationary batteries. On the other hand, stationary batteries are foreseen for witnessing maximum expansions over the forecast period. This is the result of an aggregating requirement for power backup in various sectors like railway, oil & gas, and energy generation. Moreover, mounting energy consumption around the globe is projected to push the need for stationary batteries (mostly as a source of backup at the time of power cuts).
Likewise, construction method segmentation is bifurcated to VRLA and flooded. Flooded batteries amongst them is a leading product in the lead-acid battery market across the globe since past few decades. However rising demand for highly efficient power output in marine applications is expected to augment its demand again in near future. VRLA batteries will remain accountable for witnessing the highest growth over the forecast period in accordance with the significant growth for UPS systems in the global market
Also, application segmentation is sub-segmented to automotive, transport vehicles, electric bikes, telecom as well as UPS. Automotive has been one of the largest sections in 2015 and was valued for approximately 59% of the total global lead-acid batteries market share.
In the geographical segment, Asia Pacific market is expected to witness the highest growth over the forecast period due to its rising need for energy storage structures. Additionally, usage of energy storage systems is expected to see a tremendous growth owing to the rising demand for renewable energy along with government’s provision for the development of solar and wind energy. Other key regions include North America (U.S), Europe (Germany, Italy, Russia and UK), Central & South America (Brazil) and Middle East and Africa (South Africa, UAE).
Finally, the global lead-acid battery industry is exceptional of the competitive landscape because of the major global players are constantly involved in product innovation and research & development. Some of the key players in competitive landscape of the global lead-acid battery market include GS Yuasa Corp, Narada Power Source Co. Ltd., Leoch International Technology Ltd., NorthStar, Crown Battery Manufacturing, C&D Technologies, Inc., Johnson Controls, ATLASBX Co. Ltd., Exide Technologies, East Penn Manufacturing Co., Trojan Battery, HOPPECKE Batteries, EnerSys, Saft Groupe, Zibo Torch Energy Co. Ltd., Panasonic Corporation, Coslight Technology International Group Co. Ltd. and Hoppecke Batteries Inc.
(Product Type - Flooded, Sealed (AGM and Gel);
By Application - Automotive, Motor Cycle , Motive Power, Renewable Power, UPS and Telecom, and Others (Wheelchairs, etc.)
Lead-acid Battery Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2030||US$ 94.5 Billion|
|Growth Rate||CAGR of 8.2% during 2022-2030|
|Segment Covered||By Application, By End-Use, Technology, Regions|
|Regions Covered||North America, Europe, Asia Pacific, Middle East and Africa, South America|
|Key Players Profiled||Advanced Power Solutions VN,Chaowei Power Holdings Ltd, HBL Power Systems Ltd,Hitachi Ltd|
What to expect from the ‘Global Lead-Acid Battery Market’ report?
- Future prospects about the lead-acid battery industry, types, services and application areas with respect to growth trends
- Comprehensive analysis regarding the major factors impacting the growth of the market including drivers, opportunities, challenges as well as restraints.
- Analysis about the various opportunities in the market and also details about the competitive landscape for investors and key market players.
- Study over key regions of geographical segment including Europe, Asia-Pacific (APAC), North America, Middle East and Africa (MEA) and Latin America.
- Study about the impact of the market over the economy plus supportive initiatives by government for the growth of the market.