Lead Acid Battery Market: Global & Regional Opportunity Analysis and Industry Forecast, 2019 - 2026

Lead Acid Battery Market Overview 2026

The global lead-acid battery market size was valued at $39.7 billion in 2018 and is projected to reach $59.7 billion by 2026, growing at a CAGR of 5.24% from 2019 to 2026. Key drivers of the lead acid battery market include increasing SLI applications in the automotive industry.

The huge increase in renewable energy production and demand for energy storage devices will fuel the growth of the lead-acid battery industry during the forecast period.

The rapid expansion of the telecom industry and booming need for UPS systems in data centers will drive the growth of the market in the coming years.

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Lead Acid Battery Market Trends

Need in the automotive industry

The automobile sector is going through a transformative phase. Lead acid batteries are extensively used in passenger, and commercial vehicles, tractors, and two-wheelers. They are a low-cost option for storing energy and provide efficient recycling opportunities. The batteries are very cheap and have a simple manufacturing process. The power deployment is specific along with a high discharge current. The performance is highly effective in both low and high temperatures. This will boost the growth of the global lead acid battery market in the coming years. There is no additional requirement for cell-wise BMS or blocks. The maintenance is low and service is quite dependable. The technology is relatively mature and the current capacity is huge. They are extremely tolerant of overcharging and a wide range of sizes and specifications are available. It perfectly meets the high current requirement of automobiles.

Energy storage

Lead acid batteries are widely used in energy storage and grid stabilization in renewable energy projects like solar and wind power. The increasing focus on renewable energy sources for meeting ambitious decarbonization targets has put attention toward lead-acid batteries. This will drive the growth of the lead acid battery market in the forthcoming period. These batteries are a crucial part of the overnight storage of solar energy. Specific systems are built with batteries to ensure an uninterrupted power supply. The sulphuric acid reacts with a specific type of lead to produce electricity. The reverse process is charged to create the required acid and lead. They are mass-produced and very cost-effective. Solar or photovoltaic panels are configured with lead-acid batteries to increase their overall efficiency. Certain charging techniques are used to increase the lifespan of the batteries. It is constantly charged to 95% of its maximum limit to prevent overcharging and avoid minimal gassing. The float charge is done at a lower threshold to balance out the cells. Moreover, the batteries are discharged in such a way as to prevent sulphation. The use of lead-acid batteries in wind energy systems is done to improve signal stabilization. The turbine spins at different speeds. The produced electricity should be consistent and stable. The batteries are added in between to stabilize the interconnected network of grids. The charging and discharging activity are done simultaneously. It is specifically done up to a certain threshold in order to increase the charge percentage. The battery acts as the connecting bridge between wind energy and the grid.

Telecom industry

The booming telecommunication networks and rising data complexities have led to the large expansion of data centers. The need for efficient power backup systems in tense centers will drive the growth prospects of the lead acid battery market in the upcoming years. They have an inexpensive design structure and very low operating costs. Lead acid batteries are perfectly suitable for handling the entire telecom load as they have the requisite design standards as per the cabinet size. The cycle of life and ability is deep and high. The batteries are capable of operating in a wide range of temperatures. The maintenance is trouble-free and easily accessible on a remote site. The gassing is minimum with additional leakage and a spillproof system. Furthermore, the technology is easily scalable and compatible with any energy grid storage system.

Benefits of lithium-ion batteries

The advent of lithium-ion batteries has severely restricted the market penetration of lead-acid batteries. This will hamper the growth prospects of the lead acid battery market in the coming years. It has a high discharge and a longer-lasting cycling rate. The lifespan is huge as a normal battery lasts up to 5 years or even more. It is quick and effective and charges faster than other battery systems. They are optimized to work under high-stress situations and suffer no temperature fluctuations or energy depletion. It is extremely lightweight and provides high energy density. The installation is easy and provides enhanced flexibility in comparison to lead-acid batteries.

Lead Acid Battery Market Share Analysis

Based on the product, the SLI segment will be the most lucrative with a market share of 50% due to growing vehicle sales and increasing deployment in the automobile industry. It provides long cycle life and weight reduction. These batteries are cheaper than lithium-ion batteries.

Based on the construction method, the flooded battery segment is expected to maintain dominance in the lead acid battery market share with 85% penetration due to the rising need for diesel-electric submarines as efficient power backup. It is also used in forklift trucks for material handling owing to its cost-effective nature.

Based on application, the automotive segment will witness significant growth with a 60% market share due to increasing sales of electric vehicles and rising demand for cost-effective energy sources.

Based on region, Asia-pacific will grow the highest with a market share of 40% due to rising urbanization, huge population base, and booming production of automobiles and sales. The rising need for UPS systems is also contributing to the growth.

Key Benefits for Stakeholders:

The report provides an in-depth analysis of the lead-acid battery market forecast along with the current and future market trends
This report highlights the key drivers, opportunities, and restraints of the market along with the impact analyses during the forecast period
Porter's five forces analysis helps analyze the potential of buyers & suppliers and the competitive scenario of the global lead-acid battery industry for strategy building
The global Lead-acid battery Market analysis covers major factor that impact the global market growth including growth, restraints, and opportunity factors
The qualitative data in this report aims on market dynamics, trends, and developments
Key Market Segments:

By Product

SLI
Motive
Stationary
By Construction Method

Flooded
Valve Regulated Sealed Lead-acid battery (VRLA)


By Application

Automotive
Passenger Cars
Electric Bikes
Transportation Vehicles
UPS
Telecom
Others

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By Region

North America
U.S.
Canada
Mexico
Europe
Germany
France
Italy
Spain
UK
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Australia
Rest of Asia-Pacific
LAMEA
Brazil
Saudi Arabia
South Africa
South Africa
Rest of LAMEA

SIMILAR REPORT

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https://reports.valuates.com/market-reports/QYRE-Othe-4A157/global-solid-state-battery

https://reports.valuates.com/reports/ALLI-Manu-1G27/lithium-ion-battery

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