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Automotive Lead Acid Batteries Industry Set to Achieve $46.17 Billion Milestone by 2029 | Steady 5% CAGR
Automotive Lead Acid Batteries
What Is the Long-Term Growth Forecast for the Automotive Lead Acid Batteries Market Size 2025?
The market size of automotive lead acid batteries has seen a consistent growth over the past years. It is projected to increase from $36.93 billion in 2024 up to $37.99 billion in 2025, expanding at a compound annual growth rate (CAGR) of 2.9%. Factors contributing to this growth throughout the historic period include the expansion of the automotive industry, the prevalence of conventional vehicles, reliability and durability, demand from the aftermarket, cold cranking performance, and the support provided for start-stop systems.
What CAGR is Forecasted for the Automotive Lead Acid Batteries Market Through 2029?
In the coming years, the market size for automotive lead acid batteries is projected to experience consistent growth, reaching $46.17 billion by 2029 with a compound annual growth rate (CAGR) of 5.0%. This growth during the forecast period can be due to the shift towards mild hybrid systems, the ongoing supremacy in traditional vehicles, market infiltration in developing regions, backing for commercial vehicles, and trends in hybridization. Government support for recycling is another factor for this growth. Focusing more on start-stop technology, improvements in battery technologies, the emergence of micro-hybrid vehicles, the implementation of smart battery technologies, and changing consumer preferences and technologies will be the major trends in the forecast period.
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What Are the Critical Factors Driving Automotive Lead Acid Batteries Market Development?
Anticipations for the advancement of the automotive lead-acid batteries market are being fuelled by the surging needs for electric vehicles. The global transition to emission-free vehicles is being spurred on by climate warming and the quest to accomplish net-zero emissions. The proliferation of EV charging stations, hydrogen fuel stations, and government inducements towards the adoption and usage of electric vehicles have stimulated this trend. These factors in turn increase the demand for automotive lead-acid batteries due to their high power output, affordability, safety, and reliability. For example, the International Energy Agency (IEA), a France-based intergovernmental organisation, reported in April 2023 that electric car sales constituted 14% of all new car sales worldwide in 2022, up substantially from 9% in 2021. The rise in sales is projected to continue into 2023, with more than 2.3 million electric cars being sold in the first quarter alone, marking a 25% increase from the equivalent period in the preceding year. Additionally, predictions suggest that by the end of 2023, 14 million electric cars will be sold - indicative of a 35% annual increase, with purchases accelerating in the year's second half. Consequently, the burgeoning needs for electric vehicles will expedite the expansion of the automotive lead-acid batteries market.
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How Does the Automotive Lead Acid Batteries Market Break Down Across Major 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 After market
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
What Are the Major Trends Transforming the Automotive Lead Acid Batteries Industry?
Innovations in the automotive lead-acid battery market are a notable trend that is becoming increasingly popular. Prominent businesses involved in this market are concentrating their efforts on offering progressive battery options to consolidate their market standing. For instance, Schaeffler India, a corporation based in India known for manufacturing ball and roller bearings, initiated the launch of TruPower 2W batteries in June 2023, specifically designed for two-wheelers, incorporating electric ones. These batteries boast of advanced attributes, are backed by a two-year warranty, and provide reliable and long-lasting power solutions. This makes them an appealing choice for two-wheeler owners who prioritize excellent performance and dependability.
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Which Players Are Driving Innovation 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
Which Regions Are Driving Global Automotive Lead Acid Batteries Market Expansion?
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.
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