Global Lead Acid Battery for Energy Storage Market Report and Forecast 2024-2032

Global Lead Acid Battery for Energy Storage Market Outlook

The global lead acid battery for energy storage market is expected to expand at a CAGR of 3.3% during 2024-2032. With demand for energy storage to expectedly rise, the demand for lead acid batteries is likely to increase.

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Different bodies are engaged in research to find ways to significantly increase the cycle life of advanced lead batteries. As nations follow low carbon and electrification policies, the demand for lead acid battery technology is also likely to increase, and new forms of lead acid battery technology are likely to be introduced. Europe, Asia, and North America are likely to be significant markets. 

Global Market Likely to be Driven by Rising Demand for Energy Storage

A lead acid battery system is founded on electrochemical discharge/charge reactions occurring between a negative and a positive electrode. Important elements include 2V cell comprising an assembly of electrolytes, electrodes and separators, 4/6/12/… V mono-blocks comprising cells in serial assembly, battery systems comprising a large assembly of cells or modules PCS. 

Lead Acid Batteries Have Significant Potential for Applications of Advanced Technology

While lead acid batteries have been used for almost a century, these batteries still have much potential for applications of advanced technology. Addition of sophisticated additives to active materials and lower resistance models is being done to enhance specific power. Process improvement and automation are being carried out to realise cost reductions. To enhance cycle life, design enhancements (like better corrosion-resistant alloy material and intelligent battery management which entails novel charging strategies) are being implemented. Novel and advanced lead acid concepts are also being formed. Such developments are expected to boost the global lead acid battery for energy storage market.

Lead Acid Batteries Have Wide Acceptance in Europe

Europe has an established lead acid manufacturing base. These batteries offer effectual performance at lower investment costs; this is a key reason for their wide acceptance through Europe in off-grid and grid-connected applications. Lead acid batteries also have a relatively higher collection and recycling rate in Europe. Lead acid batteries are employed in multiple projects across the globe. Such factors are expected to stimulate the global lead acid battery for energy storage market.

Lead Acid Batteries Have Many Applications

Apart from small portable and mobile systems, lead acid technology has uses in many applications, including stationary stand-by & UPS motive power applications (like those in forklifts) starter batteries (for example, SLI) warranting high power at lower temperatures. 

Modern lead batteries already assist the transition to electric vehicles through mild-hybrid and micro cars. Almost all EVs use lead batteries for vital back-up and safety functions. 

Such applications are expected to drive the global lead acid battery for energy storage market.

Market Segmentation

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By type, the market is segmented into:

• Custom Owned

• Utility Owned

• Third Party Owned

By application, the market is divided into:

• Micro grid

• Household

• Industrial

• Military

By region, the market is classified into:

• North America

• Middle East and Africa

• Asia Pacific

• Europe

• Latin America

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Key Industry Players in the Market

The report extensively gauges key players in the global lead acid battery for energy storage market; it monitors their capacity and newest occurrences like mergers and acquisitions, capacity expansions, and plant turnarounds:

• East Penn Manufacturing Company

• Narada Asia Pacific Pte. Ltd.

• Amara Raja Batteries Ltd.

• Leoch International Technology Limited

• Enersys

• GS Yuasa International Ltd.

• FIAMM Energy Technology S.p.A.

• Exide Industries Limited

• Others

Through Porter’s Five Forces model and SWOT analysis, the EMR report offers deep insights into the industry.

Key Highlights of the Report