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Driving Forces In The Lead-Acid Battery Market Automotive Industry Demand Emerges as a Core Driver of the Lead Acid Batteries Market in 2025
Lead Acid Batteries
How Large Will the Lead Acid Batteries Market Size By 2025?
The market size of lead acid batteries has seen robust growth in the past few years. Predictions indicate that it will rise from $27.27 billion in 2024 to around $29 billion in 2025, with a compound annual growth rate (CAGR) of 6.3%. This significant growth during the historical period can be credited to the potent economic development in emerging markets, swift expansion in the automotive industry, and an escalating demand for renewable energy.
How Big Is the Lead Acid Batteries Market Size Expected to Grow by 2029?
The market for lead acid batteries is anticipated to experience robust growth in the upcoming years, poised to reach a value of $36.83 billion in 2029, with a compound annual growth rate (CAGR) of 6.2%. The surge during the forecast period will be driven by the escalating demand for electric vehicles and the expansion of data center structures. Key trends for the forecast period will involve the creation of graphene-enhanced lead acid batteries, the utilization of carbon supplements in lead acid battery electrodes, heightened emphasis on valve regulated stationary lead-acid batteries, the launch of battery analyzers catered to testing lead-acid batteries, and strategic alliances and cooperation among industry players.
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Which Key Market Drivers Powering Lead Acid Batteries Market Expansion and Growth?
The upward trend of the lead-acid batteries market has been fuelled by an expanded demand in the automobile sector. The global automotive market's growth, driven by increased research and development projects in the automotive lead-acid battery sector and government-led initiatives supporting electric vehicles, has in turn boosted the demand for lead-acid batteries. For example, the Organisation Internationale des Constructeurs d'Automobiles (OICA), an international grouping of car manufacturers based in France, confirmed substantial growth in the worldwide automobile industry in 2023, with global vehicle production hitting 93546599 units, a remarkable increase from the 85016728 units produced in 2022. The growing embrace of lead-acid batteries in electric vehicles, along with intensifying government measures to encourage electric vehicles, is projected to spur demand for the lead-acid battery market in years to come.
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Which Fast-Growing Trends Are Poised to Disrupt the Lead Acid Batteries Market?
The advent of the Absorbent Glass Mat (AGM), a form of the lead-acid battery that is lighter, possesses superior electrical dependability, and performs at a higher level, is increasing the need for lead-acid batteries. Battery University asserts that due to its promising features such as lesser weight, minimal acid leakages, and optimal performance in cold weather conditions, AGM is a highly favored battery for high-end motorcycles. Moreover, these batteries are progressively finding use in motor homes, marine, and robotic applications. Hence, innovations in the lead-acid batteries space are predicted to augment demand in the lead-acid batteries market during the upcoming forecast period.
What Are the Emerging Segments in 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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Who Are the Global Leaders in the Lead Acid Batteries Market?
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
Which are the Top Profitable Regional Markets for the Lead Acid Batteries Industry?
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
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