Press release
Global Lead Acid Battery Market Size, Share, Segment, Forecast by 2027 | Major players Clarios, Exide Industries Limited, Leoch, Shangdong, C&D Technologies, GS Yuasa
Global Lead Acid Battery Market
The global lead acid battery market size is anticipated to witness significant momentum over the coming years, driven by the mounting adoption of high-density energy storage devices, along with the shifting preference towards personal automobiles worldwide.
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Likewise, low maintenance costs, superior cranking performances, and other lead acid battery advantages are adding significant impetus to the global industry expansion. Telecommunication & industrial sectors across the globe are also making considerable investments towards infrastructural developments. These aforementioned factors, alongside the strong emphasis on introducing efficient energy-storage devices, will drive product penetration over the forecast spell.
The global market has been witnessing a robust focus on entering the energy storage market, thereby boosting the lead acid battery applications. For instance, in September 2020, Ahlstrom-Munksjö launched Ahlstrom-Munksjö Forticell LAB, a fiber-based solution, for use in lead acid batteries to serve the growing demand for this type of energy-storage device.
In terms of segmentation by application, the stationary segment will account for an appreciable share over the estimated timeline, driven by the myriad product benefits such as high power delivery and superior cranking performances. This form of battery comprises of lead oxide cathode, metallic lead anode, and an electrolyte of the sulfuric acid solution, allowing it to be recharged as well as deliver cost-effective power storage solution and contributing to the rising popularity of the lead acid battery market globally.
Growing demand for mobile phone handsets worldwide has amplified the telecommunication infrastructural growth. Increased lead acid battery efficiency has also resulted in the low requirements of maintenance services and safe operations, subsequently expanding the scope of overall lead acid battery industry trends.
On the basis of construction, the global lead acid battery market from the VRLA (valve regulated lead acid) segment is likely to register considerable revenue, which is attributable to the growing usage of reliable and economical energy supply as well as low discharge rate, minimal maintenance requirement, and accelerating deployment of the product in industrial trucks. Customers are also increasingly shifting their preferences from flooded batteries to VRLA batteries, as the maintenance costs of flooded batteries are high.
With regards to sales channel, the aftermarket segment is set to expand at a significant growth rate over the foreseeable future, which can be credited to the rising battery replacements due to the end of their life cycle.
The segmental growth will further be propelled by the availability of the dense distribution channel, low costs associated with the aftermarket services, mounting investments to enhance customer experiences, and OEM services expansion into the aftermarket sales channel.
On the regional front, the North America lead acid battery market is poised to exhibit a growth rate of around 2% through 2027, on account of the growing investments in the existing data centers in the region. Despite the availability of alternative energy sources, the adoption of lead acid batteries in the mainstream IT infrastructure has been rapidly surging. The regional industry outlook will further be fostered by the strong demand for reliable power supply and the presence of refurbishment policies for old grid infrastructures.
The competitive landscape of the lead acid battery market comprises of companies such as Clarios, Enersys, and East Penn Manufacturing, among others. These industry participants are focusing on M&A, innovation product launches, and other strategies to expand their geographical footprint globally.
To illustrate, in August 2020, Amara Raja Batteries entered a partnership with Gridtential Energy to build and test advanced bipolar lead acid batteries for use in hybrid and electric vehicles. The deal was geared towards enhancing the battery’s charging capacity, speed, and life cycle as compared to the previous generation batteries.
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