September 2024 | Report Format: Electronic (PDF)
Lead Acid Battery Market Growth & Trends
The global lead acid battery market size is expected to reach USD 55.23 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 4.6% from 2023 to 2030.
Lead-acid batteries have been used in a wide range of applications for many years, and there is a well-established infrastructure for manufacturing, distribution, and recycling. This makes them a convenient and cost-effective choice for many applications.
While lead-acid batteries are a mature technology, there have been significant improvements in recent years, such as the development of valve-regulated lead-acid (VRLA) batteries that offer improved performance and longer service life. This is expected to boost the demand for lead acid batteries for the forecast period.
Lead-acid batteries are relatively inexpensive compared to other battery technologies, making them an attractive option for applications that require a large amount of energy storage. Large scale production capabilities from market players have a reduced the prices by achieving economies of scale and increasing production efficiency. The demand from low cost consumer electronics is expected to drive the market from 2023 to 2030.
The automotive segment led the market for lead acid batteries and is expected to maintenance its dominance over the forecast period.The extensive usage of lead acid batteries in the automotive sector is expected to grow as a result of rising automotive sector globally.
The market is likely to witness strategic alliances to expand end-user segments in emerging markets. Market players are expected to increase their production capacities owing to Increasing demand from the automotive and consumer electronics sectors.
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Lead Acid Battery Market Report
Lead Acid Battery Market Report Highlights
- In terms of revenue, the SLI batteries of accounted for a significant share in the market in 2022 and is further expected to witness steady growth over the forecast period
- Asia Pacific region is projected to grow at a substantial rate throughout the forecast period. Japan is expected to account for the maximum share in the Asia-Pacific region
- Automotive segment dominated the industry, accounting for 58.92% of total market revenue in 2022
- Flooded segment accounted for the largest share of 65.66% in the market in 2022
- North America is likely to display a substantial growth rate during the projected period
Lead Acid Battery Market Segmentation
Grand View Research has segmented the global lead acid battery market based on product, construction method, application, and region:
Lead Acid Battery Product Outlook (Revenue, USD Million, 2018–2030)
- SLI
- Stationary
- Motive
Lead Acid Battery Construction Method Outlook (Revenue, USD Million, 2018–2030)
- Flooded
- VRLA
Lead Acid Battery Application Outlook (Revenue, USD Million, 2018–2030)
- Automotive
- UPS
- Telecom
- Electric bikes
- Transport vehicles
- Others
Lead Acid Battery Regional Outlook (Revenue, USD Million, 2018–2030)
- North America
- U.S.
- Europe
- UK
- Germany
- Italy
- Russia
- Asia Pacific
- China
- India
- Central and South America
- Brazil
- Middle East and Africa
- South Africa
- UAE
List of Key Players of the Lead Acid Battery Market
- East Penn Manufacturing Co.,
- Exide Technologies, Johnson Controls
- ATLASBX Co. Ltd.
- NorthStar, C&D Technologies, Inc.
- Narada Power Source Co., Ltd.
- Amara Raja Corporation
- GS Yuasa Corp
- Crown Battery Manufacturing
- Leoch International Technology Ltd.
- Panasonic Corporation
