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The Global Lead Acid Battery Market is estimated to witness a rise in revenue from US$ 44.86 Bn in 2021 to US$ 77.88 Bn by 2030. The market is registering a CAGR of 6.53% during the forecast period 2022-2030.
Lead-acid battery is the very first rechargeable battery ever made. They have a low energy density when compared to current rechargeable batteries. Despite this, the cells have a high power-to-weight ratio due to their capacity to supply strong surge currents. These characteristics, combined with their low cost, make them appealing for use in automobiles to supply the high current needed by starter motors. Moreover, lead acid is deployed in a wide array of industries including automotive, industrial, manufacturing, UPS, communications and utilities among others.
The major factor responsible for the growth of the global lead-acid battery market includes cost-competitive energy storage solution. Energy storage expenditure is a critical component, particularly for industries, which is why many organizations invest much in battery storage solutions. Moreover, expanding data center infrastructure creates a lucrative growth opportunity for the market. Data centers have a high requirement for battery storage as they are primarily used to provide the backup power requirements to various industries. However, lead-acid batteries were the most cost-effective technology until recently. As other battery storage technologies, particularly lithium-ion technology, gain traction, lead-acid batteries are losing ground in terms of cost effectiveness. In addition, due to the ongoing global pandemic of COVID-19, the lead acid battery sector is expected to grow at a slow pace over the projection period. To prevent the coronavirus from spreading in the community, the government has enforced rigorous lockdown rules as well as social distancing laws, which will limit the market demand for lead acid battery units.
The study of the global lead-acid battery market considers various market determinants, industry value chain analysis and competitor analysis of the market. The report discusses the analysis of the lead-acid battery industry for the period 2017-2030, where the base year is 2021 and the forecast period is 2022-2030. The report provides a detailed analysis of the Global Lead-Acid Battery Market across 13 Chapters and 215 pages. The report includes data presentation across 68 tables and 65 statistical figures.
The report provides PESTLE analysis, which is a tool to examine the external market environment factors that have an impact on the industry. The PESTLE analysis examines the Political, Economic, Social, Technological, Environmental and Legal factors in the external environment. Thus, sufficiently examining the threats and weaknesses of the industry.
The subsequent section provides details of the market analysis based on different segments such as type, application and region. The report includes detailed study of value chain of the industry. It includes raw material procurement, manufacturing, distributers and end-uses outlook. The report also covers extensively about the key competitors in the market for global lead-acid battery.
Key Takeaways from the Global Lead-Acid Battery Market Report
The key players in the global lead-acid battery market are Clarios, Exide Technologies, CSB Energy Technology, Yuasa, EnerSys, East Penn Manufacturing, Fiamm, Sebang, Hankook AtlasBX, Amara Raja, C&D Technologies, Midac Batteries, ACDelco, Banner batteries, First National Battery, Chilwee, Tianneng Holding Group, Shuangdeng Group (Shoto), Camel Group, Fengfan, Leoch, Narada Power, Sacred Sun Power Sources and Coslight Technology among others. Through extensive research, it is found that big players have adopted various competitive strategies such as mergers & acquisitions in order to have a grip of emerging market. Furthermore, leading companies are expanding their geographical boundaries by acquiring small brands and domestic companies.
Global Lead-Acid Battery Market is segmented based on type, application and region. The industry trends in the global lead-acid battery market are sub-divided into different categories in order to get a holistic view of the global marketplace.
Following are the different segments of the global lead-acid battery market:
By Type segment of the Global Lead-Acid Battery Market is sub-segmented into:
By Application segment of the Global Lead-Acid Battery Market is sub-segmented into:
By Region segment of the Global Lead-Acid Battery Market is sub-segmented into:
The Global lead acid battery market is projected to grow at a CAGR of 6.53% during the forecast period 2022-2030.
Lead acid is deployed in a wide array of industries including automotive, industrial, manufacturing and utilities among others as they are used in back-up power supplies for alarm and smaller computer systems.
Lead-acid batteries are less expensive than other options, such as Li-ion batteries, and they are also more environmentally friendly.
The size of the global lead acid battery market in 2021 was US$ 44.86 Billion in 2021.
The global lead acid battery market is driven by the cost-competitive energy storage solution.
Type, application and region are the different segments of the global lead acid battery market.
Based on application, the global lead-acid battery market is segmented into automotive starter, motorcycles & electric bikes, forklifts & other vehicles, communication industry, UPS and others.
Low-cost alternatives in energy storage space are a restraining factor which inhibits the growth of the market during the forecast period.
UK is expected to project the highest CAGR in the Europe lead-acid battery market during the forecast period.
The flooded battery segment is estimated to have the highest market share in 2021.
Asia Pacific holds a major share in terms of revenue in the global lead acid battery market in 2021.
Clarios, Exide Technologies, CSB Energy Technology, Yuasa, EnerSys, East Penn Manufacturing, Fiamm, Sebang, Hankook AtlasBX, Amara Raja, C&D Technologies, Banner batteries, Tianneng Holding Group, Sacred Sun Power Sources and Coslight Technology among others.