Press release
Automotive Lead Acid Batteries Market Forecast 2025-2034: Comprehensive Analysis And Growth Opportunities
Automotive Lead Acid Batteries
What Is the Projected Growth of the Automotive Lead Acid Batteries Market?
In recent times, the market size for automotive lead acid batteries has expanded progressively. In the span of a year, from 2024 to 2025, it is projected to increase from $36.93 billion to $38.54 billion, exhibiting a compound annual growth rate (CAGR) of 4.4%. Factors leading to growth during the preceding period include automotive industry expansion, prevalence of conventional vehicles, reliability and durability, an uptick in aftermarket demand, efficient cold cranking performance, and support to start-stop systems.
The market for automotive lead-acid batteries is predicted to experience notable growth in the coming years, with its value estimated to reach $47.97 billion by 2029, registering a compound annual growth rate (CAGR) of 5.6%. The anticipated growth within this projection period can be connected to various factors such as the shift towards mild hybrid systems, the sustained supremacy of traditional vehicles, market penetration in emerging regions, commercial vehicle support, hybridization trends, and government back-up for recycling. Key trends expected for this forecast period are the increased emphasis on primary battery cut-off technologies, breakthroughs in battery technologies, the emergence of micro-hybrid vehicles, the implementation of intelligent battery technologies, as well as evolving consumer tastes and advanced technologies.
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What Are the Different Automotive Lead Acid Batteries Market Segments?
The automotive lead acid batteries market covered in this report is segmented -
1) By Type: Flooded Batteries, Enhanced Flooded Batteries, VRLA Batteries
2) By Product: SLI Batteries, Micro Hybrid Batteries
3) By Sales Channel: Automotive Lead Acid Battery Sales via OEMs, Automotive Lead Acid Battery Sales Via Aftermarket
4) By End User: Passenger Car, Light Commercial Vehicles, Heavy Commercial Vehicles, Two-Wheeler, Three-Wheeler
Subsegments:
1) By Flooded Batteries: Conventional Flooded Batteries, Maintenance-Free Flooded Batteries
2) By Enhanced Flooded Batteries (EFB): EFB For Start-Stop Systems, EFB For Conventional Applications
3) By VRLA Batteries (Valve-Regulated Lead-Acid): Absorbent Glass Mat (AGM) Batteries, Gel Batteries
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What Are the Primary Drivers Shaping the Automotive Lead Acid Batteries Market?
Anticipations of the automotive lead-acid batteries market's expansion are fueled by the increased demand for electric vehicles. This is mostly due to concerns over global warming and the goal to reach carbon neutrality, leading to a worldwide transition towards zero-emission vehicles. Assistance from the government for adoption and implementation, as well as the establishment of EV charging and hydrogen fueling stations, fuel the push towards electric vehicles. This results in a surge in the requirements for automotive lead-acid batteries that offer cost-effective, high-power, safe, and dependable solutions. To illustrate, the International Energy Agency (IEA), a French based intergovernmental organization, reported that in April 2023, electric vehicle sales made up 14% of worldwide new car sales in 2022, a significant jump from 9% in 2021. They predict this upward trend to persist in 2023, with over 2.3 million electric cars sold in the first quarter alone, indicating a 25% boost from the previous year's same period. Moreover, forecasts for the year end suggest that 14 million electric cars will be sold, a year-on-year growth of 35%, as sales are expected to expedite in the year's latter half. Thus, the growing demand for electric vehicles is anticipated to augment the automotive lead-acid batteries market.
Which Companies Are Leading in the Automotive Lead Acid Batteries Market?
Major companies operating in the automotive lead acid batteries market are GS Yuasa International Limited, Johnson Controls Inc., Exide Industries Limited, EnerSys Inc., Panasonic Corporation, CSB Battery Company Limited, East Penn Manufacturing Company, Leoch International Technology Limited, NorthStar Battery Company LLC, Clarios LLC, Koyo Battery Company Limited, FIAMM Energy Technology S.P.A, Reem Batteries & Power Appliances Co. SAOC, Trojan Battery Company LLC, C&D Technologies Inc., Robert Bosch GmbH, Thai Bellco Battery Co.Ltd., Crown Battery Manufacturing Company, Narada Power Source Co. Ltd., Shandong Sacred Sun Power Sources Co.Ltd., Amara Raja Batteries Limited, Banner Batterien GmbH, Camel Group Co.Ltd., Fengfan Co.Ltd., Guangdong Dynavolt Power Technology Co. Ltd., Haze Battery Co. Ltd., Hitachi Chemical Energy Technology Co. Ltd., Zibo Torch Energy Co.Ltd., Coslight Technology International Group Co.Ltd., PT Astra International Tbk
What Are the Major Trends Shaping the Automotive Lead Acid Batteries Market?
Trend 1:
Innovations in automotive lead-acid battery technology are becoming a growing trend in the market. The leading companies in this field are prioritizing the development of improved battery solutions to consolidate their market standing. In an example from June 2023, Schaeffler India, a ball and roller bearing producer based in India, introduced TruPower 2W batteries, configured for use in two-wheelers, including electric ones. These batteries come with superior features and are backed by a two-year service guarantee, presenting them as a trustworthy and long-lasting power solution. This makes them an ideal choice for two-wheeler owners looking for top-tier performance and dependability.
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What Are the Top Revenue-Generating Geographies in the Automotive Lead Acid Batteries Market?
Asia-Pacific was the largest region in the automotive lead acid batteries market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the automotive lead acid batteries market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Automotive Lead Acid Batteries Market?
2. What is the CAGR expected in the Automotive Lead Acid Batteries Market?
3. What Are the Key Innovations Transforming the Automotive Lead Acid Batteries Industry?
4. Which Region Is Leading the Automotive Lead Acid Batteries Market?
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