Lead Acid Battery Market Size to Reach USD 65.98 Billion at a CAGR of 4.2% by 2030 | Reports and Data

Lead Acid Battery Market Overview:
During the forecast period, the global lead acid battery market is anticipated to exhibit a revenue CAGR of 4.2%, building upon its current size of USD 45.17 billion in 2021. Factors driving the market growth include advancements in energy and telecom sectors, the rise of renewable energy resources, a surge in demand for energy storage systems, increasing automotive demand, and the growing popularity of Electric Vehicles (EVS) worldwide. Furthermore, the modernization of manufacturing and production facilities, coupled with the rapid expansion of various industries and sectors in countries like the U.S., China, India, Brazil, and others, is leading to a high demand for power generators, Uninterruptible Power Supply (UPS) systems, and power storage units for additional or backup power.

The residential sector is also witnessing relatively high demand for lead acid batteries in power back-up systems and UPS due to their lower cost and simpler-tech battery management requirements. Valve Regulated Lead Acid (VRLA) batteries are widely used due to their reliability and durability, and their sealed design can provide a battery life ranging from three to five years or even more than 12 years depending on the manufacturing process.

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Lead Acid Battery Market Segments:
The global lead acid battery market can be segmented by type, end-use, technology, and construction outlook. In terms of type, the market is divided into stationary and motive batteries. When it comes to end-use, the market can be classified into utility, transportation, industrial, and commercial & residential.

Based on technology, the market is categorized into basic and advanced. Lastly, in terms of construction, the market can be segmented into flooded and VRLA batteries.

The regional scope of the market includes North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa, with country-level analysis for the United States, Canada, United Kingdom, Germany, France, BENELUX, China, India, Japan, South Korea, Brazil, Saudi Arabia, UAE, and Turkey.

Lead Acid Battery Market Strategic Developments:
The lead acid battery market is experiencing strategic developments from various key players in the industry. Some of the notable strategic developments include partnerships, collaborations, product launches, and acquisitions.

Partnerships and collaborations are focused on expanding market presence and increasing product portfolios. For example, in 2021, Clarios, a leading battery manufacturer, collaborated with Hybrid Kinetic Group (HKG) to develop and manufacture batteries for hybrid vehicles. Similarly, in 2020, Exide Technologies announced a partnership with EDP, a leading renewable energy company, to develop energy storage solutions in Portugal.
Product launches are aimed at expanding the product range and enhancing product performance. In 2021, Crown Battery launched a new line of AGM (Absorbed Glass Mat) batteries, designed to meet the increasing demand for sealed lead acid batteries in various applications. Additionally, East Penn Manufacturing launched a new battery range under the Deka brand, designed for commercial trucking applications.

Acquisitions are focused on expanding market reach and consolidating market position. For example, in 2020, Clarios acquired Amara Raja Batteries Limited's transportation battery business, enabling Clarios to expand its presence in India's automotive market. Additionally, in 2019, EnerSys acquired NorthStar Battery Company, LLC, a leading manufacturer of high-performance batteries, to strengthen its position in the reserve power and motive power markets.

Overall, the lead acid battery market is witnessing strategic developments aimed at enhancing market position, expanding product portfolios, and improving product performance. These developments are expected to drive market growth and provide competitive advantages to key players in the industry.

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Lead Acid Battery Market Competitive landscape:
The global lead acid battery market is moderately fragmented, with several key players operating on both global and regional levels. These players are focused on developing more advanced batteries and energy storage products while also entering into strategic alliances to expand their portfolios and gain a strong foothold in the global market.

Some of the major companies operating in the global market include EnerSys, Exide Industries Ltd., GS Yuasa International Ltd., Advanced Power Solutions VN, Chaowei Power Holdings Ltd., Narada, HBL Power Systems Ltd., Crown Battery, NorthStar, and Hitachi Ltd.

In March 2022, Exide Industries approved a scheme to merge its owned subsidiary, Chloride Power Systems and Solutions, with the parent company. Chloride Power Systems manufactures battery chargers, distribution boards, transformers, chokes, printed circuit boards, and battery health monitoring systems, while Exide manufactures and sells lead acid storage batteries and home UPS of diverse brands. This merger is expected to strengthen Exide's position in the market and expand its product range.

In October 2021, Ecobat, a lead acid battery recycling and distribution company, acquired Emrol, a Belgium battery distributor, to expand its operations and range of batteries. This acquisition is expected to help Ecobat expand its market presence and offer a wider range of battery solutions to its customers.

Overall, the competitive landscape of the global lead acid battery market is marked by strategic alliances, acquisitions, and product launches aimed at enhancing market position, expanding product portfolios, and improving product performance. These developments are expected to drive market growth and provide a competitive advantage to key players in the industry.

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