Press release
Strong Growth Ahead: Lead Acid Batteries Market Size To Grow At Arecord 6.2% Cagr By 2029
Lead Acid Batteries Market Size
How Big Is the Lead Acid Batteries Market Size Expected to Be by 2034?
The market size of lead acid batteries has seen a significant expansion in the past few years. We are projecting an increase from $27.27 billion in 2024 up to $29 billion in 2025, which translates to a compound annual growth rate (CAGR) of 6.3%. Factors that have contributed to the growth during the historical period include robust economic progress in developing markets, swift expansion in the automotive sector, and an increased demand for renewable energy sources.
In the foreseeable future, the lead acid batteries market is projected to experience substantial growth, expanding to a worth of $36.83 billion in 2029 with a compound annual growth rate (CAGR) of 6.2%. This predicted surge in the coming years can be ascribed to the swelling demand for electric vehicles and the burgeoning data center infrastructure. The upcoming period will witness noteworthy trends like the production of graphene-enhanced lead acid batteries, the incorporation of carbon additives in lead acid battery electrodes, an intensified emphasis on valve regulated stationary lead-acid batteries, the launch of battery analyzers intended for lead-acid battery testing, and strategic alliances and associations among market players.
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What Are the Emerging Segments Within the Lead Acid Batteries Market?
The lead acid batteries market covered in this report is segmented -
1) By Type: Stationary, Motive And Starting, Lighting And Ignition (SLI)
2) By Technology: Basic Lead-Acid Battery, Advanced Lead-Acid Battery
3) By Construction Method: Flooded, Valve Regulated Lead-Acid (VRLA)
4) By End User: Transportation, Industrial, Commercial And Residential, Utilities
Subsegments:
1) By Stationary: Backup Power Systems, Uninterruptible Power Supply (UPS) Systems, Renewable Energy Storage
2) By Motive and Starting: Automotive Batteries, Forklift Batteries, Golf Cart Batteries, Electric Vehicle Batteries, Marine Batteries
3) By Lighting and Ignition (SLI): Conventional Lead Acid Batteries, Absorbent Glass Mat (AGM) Batteries, Gel Batteries, Enhanced Flooded Batteries (EFB), Deep Cycle Batteriesnt
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What Long-Term Drivers Are Shaping Lead Acid Batteries Market Trends?
The lead-acid batteries market is experiencing growth due to an increase in demand within the automobile industry. This has been boosted by heightened research and development in the field of automotive lead-acid batteries, as well as governmental drive towards electric vehicles, thereby broadening the global automotive market and fuelling the need for lead-acid batteries. Consider, for example, in 2023, the Organisation Internationale des Constructeurs d'Automobiles (OICA), a globally recognized association of automobile manufacturers in France, reported notable growth in the global automotive industry with total vehicle production hitting 93546599 units, marking a significant jump from the 85016728 units manufactured a year prior, in 2022. It is expected that the surge in the use of lead-acid batteries in electric vehicles coupled with the increase in governmental campaigns backing electric vehicles will propel forward the demand for the lead-acid battery market in the years to come.
Who Are the Top Competitors in Key Lead Acid Batteries Market Segments?
Major companies operating in the lead acid batteries market include Chaowei Power Holdings Limited, GS Yuasa Corporation, Clarios International Inc, EnerSys, East Penn Manufacturing Co, Camel Group Co., Ltd, Zhejiang Narada Power Source Co. Ltd., Leoch International Technology Ltd, Exide Industries Ltd, Panasonic Corporation, Amara Raja Batteries Limited, Guangdong Techfine Electronic Co., Ltd., Kaiying Power Supply & Electrical Equip Co., Ltd., Fujian Jiage Power Tech Co., Ltd., Jujiang Power Technology Co., Ltd., Suzhou Foberria New Energy Technology Co., Ltd., Xiamen Songli Import and Export Co., Ltd., Manbat, AceOn Group, ENIX Energies, Ultracell, AKTEX INC, AKOM JSC, The Ural Plant of Chemical Reagents, SOLARUS ENERGY Ltd, Yuntong Power Co.,Ltd, Krascrystal Co., Ltd, Veaga-Teplo Ltd, C&D Technologies, Inc, CSB Energy Technology Co., Ltd., Koyo Battery Co., Ltd, Astra Otoparts, Robert Bosch GmbH, Stryten Salina, LLC, Industrias Tudor Sp De Bateriais Ltda, Grupo Craft, Acumuladores Moura S.A., Sociedad Química y Minera (SQM) Salar S.A., Baterias Willard S.A., Dubatt Battery Recycling LLC, Sharaf Group, Middle East Battery Company (MEBCO), Seri Industrial S.p.A., Classic Power Batteries Trading LLC, Lento Industries Private Limited, Sunlight Group, E Schnapp Co Works Ltd, Shmuel De-Leon Energy, Ltd., Dixon Batteries, Enertec Batteries Pty Ltd, First National Battery, Renergy Technologies, Sunfor Technologies (PTY) Ltd
What Are the Major Trends Shaping the Lead Acid Batteries Market?
The launch of the absorbent glass mat (AGM), a type of lead-acid battery that offers decreased weight, improved electrical reliability, and superior performance, is fueling an increased need for lead-acid batteries. Battery University indicates that AGM is the battery of choice for high-end motorcycles due to advantages like lighter weight, less acid leakage, and excellent cold-weather performance. These batteries are also becoming increasingly popular for use in motor homes, marine vehicles, and robotics. Consequently, innovations in lead-acid batteries are expected to drive a higher demand in the lead-acid batteries market in the upcoming years.
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Which Regions Are Becoming Hubs for Lead Acid Batteries Market Innovation?
Asia-Pacific was the largest region in the global lead-acid batteries market in 2024. The regions covered in the 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 Lead Acid Batteries Market?
2. What is the CAGR expected in the Lead Acid Batteries Market?
3. What Are the Key Innovations Transforming the Lead Acid Batteries Industry?
4. Which Region Is Leading the Lead Acid Batteries Market?
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