Press release
Worldwide Shipments Of Lead Acid Batteries Are Estimated To Reach Us$ 96.5 Billion By The End Of 2033
Lead Acid Battery Market
One of the key advantages of lead-acid batteries is their relatively low cost compared to other battery technologies. Lead is an abundant and affordable material, which contributes to the cost-effectiveness of lead-acid batteries. This makes them a preferred choice for applications where cost plays a significant role, such as automotive and stationary power systems. Lead-acid batteries also offer excellent reliability, high power density, and a proven track record of performance and safety. They have been extensively used for many decades and have undergone continuous improvements in terms of design, efficiency, and cycle life. These batteries are well-suited for applications that require high power bursts and robust performance, making them reliable energy storage solutions.
The lead-acid battery market is influenced by the growth of the automotive industry, as automotive applications account for a significant portion of the market demand. Factors such as increasing vehicle production, electrification of vehicles (including hybrid and electric vehicles), and the need for energy storage systems in the automotive sector contribute to the market's growth.
Overall, the lead-acid battery market continues to be significant, driven by its cost-effectiveness, reliability, and wide range of applications. The market's growth is influenced by factors such as automotive industry trends, the need for reliable energy storage solutions, and environmental considerations. Continued research and development, along with efforts to improve recycling and sustainability practices, will play a crucial role in shaping the future of the lead-acid battery market.
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Key Takeaways of Global Lead Acid Battery Market
• Absorbent Glass Mat (AGM) lead acid battery is estimated to create an absolute $ opportunity of around US$ 15 Bn during the forecast period and is estimated to account for 38% of the overall value opportunity in the global market by the end of 2029
• The transportation sector is projected to expand 1.4X times as compared to 2019, by witnessing a value CAGR of 4%
• APEJ is foreseen to maintain its dominance throughout the assessment period, accounting for more than 39% of the share in the global market
• Stationary industrial lead acid battery is forecasted to expand 2.9X times compared to the commercial industrial battery by the end of forecast duration
Global Lead Acid Battery Market: Segmentation
Segmentation table of the global lead acid battery market has been provided below on the basis of application, product type and region.
Application
• Transportation
• OEM Transportation
• PC
• LCV
• HCV
• Two Wheelers
• Others
• Aftermarket Transportation
• PC
• LCV
• HCV
• Two Wheelers
• Others
• Motive Industrial
• OEM Motive Industrial
• Aftermarket Motive Industrial
• Stationary Industrial
• OEM Stationary Industrial
• Aftermarket Stationary Industrial
• Commercial
• OEM Commercial
• Aftermarket Commercial
• Residential
• OEM Residential
• Aftermarket Residential
• Grid Storage
• OEM Grid Storage
• Aftermarket Grid Storage
• Others
• OEM
• Aftermarket
Product Type
• Flooded
• AGM (Absorbent Glass Mat)
• Gel
Region
• North America
• Latin America
• Western Europe
• Eastern Europe
• APEJ (Asia Pacific Excluding Japan)
• Japan
Global Lead Acid Battery Market: In-depth Analysis on Competitive Landscape
The report concludes with a weighted chapter on the competition landscape considering up-to-date and essential developments related to market players, who are predominantly engaging in the production and distribution of lead acid battery, along with company's strategies, identification, and analysis. Market share comparison and analysis of these market players offered in the report enables readers to devise strategies for their businesses.
The intensity mapping of the market players operating in the global lead acid battery market provides readers with actionable intelligence, which helps in understanding the current market status and prospects determining the competition levels in the global lead acid battery market.
Key Market Players:
• Furukawa Electric Co. Ltd.
• Hoppecke Batterien GmbH & Co. KG
• Exide Industries Ltd.
• Yokohama Batteries Sdn. Bhd
• Camel Group Co. Ltd.
• Enersys
• SiteTel Sweden AB (NorthStar)
• Narada Power Source Co. Ltd.
• East Penn Manufacturing Co.
• GS Yuasa Corporation
• Coslight Technology International Group Co. Ltd.
• Leoch International Technology Ltd.
• Hitachi Chemical Company Ltd.
• C&D Technologies Inc.
• Zhangzhou Hauwei Power Supply Technology Co. Ltd.
FAQs Answered in Market Study
• What will be the market value of Lead Acid Battery by the end of 2021?
• What was the CAGR of the market for Lead Acid Battery over the past 5 years?
• What is the estimated market value by the end of the forecast period?
• What is the market share of the top 5 players of the Lead Acid Battery industry?
• What is the outlook for the North American region?
• How is the European market for Lead Acid Battery expected to evolve?
• What are the market statistics for the APAC region?
• Which countries are driving the demand of Lead Acid Battery?
• What trends are influencing the Lead Acid Battery landscape?
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