Global Lead Acid Battery Market Report and Forecast 2024-2032

Global Lead Acid Battery Market Outlook

The global market size for lead acid battery reached a value of more than USD 41.33 billion in 2023. The global lead acid battery market is expected to grow at a CAGR of 4.50% between 2024 and 2032.

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

Key Trends in the Market

Lead acid battery is a rechargeable battery technology that comprises of two electrodes immersed in an electrolyte of a sulphuric acid. They are used for various applications including large grid-scale power systems and small-scale power storage such as starting lighting, UPS systems, and ignition power sources for automobile. It is called a lead acid battery because it uses lead and sulphuric acid to function. 

• Increasing investments in the enterprise cloud computing with expansion of data centres globally is expected to contribute to the growth of the lead acid battery market. This is due to the increased need for large-scale and uninterrupted power for data centres.

• Advancements in lead acid batteries such as safety, low cost, brilliant recycling capabilities, and improved performance are increasing its demand from various sectors thereby helping in the growth of the overall market.

• The telecom sector is adopting the use of lead acid batteries at a fast rate because they offer enough power to support the large telecom load required. Lead acid batteries also have very low maintenance costs increasing its demand.

Market Analysis

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

Based on technology, the lead acid battery market can be bifurcated into flooded and VRLA (Valve Regulated Lead-acid). By product, the market is divided into SLI batteries, stationary batteries, and portable batteries. On the basis of end use, the market is segmented into automotive, utility, industrial, and commercial and residential. By region, the market is divided into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. 

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global lead acid battery market covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.

• Panasonic Corporation

• Exide Industries Ltd

• GS Yuasa International Ltd.

• Hankook & Company Co., Ltd.

• HOPPECKE Batteries, Inc

• Clarios

• Others

Market Share by Technology

VRLA (valve regulated lead acid) batteries are projected to have a larger market share because they are more advanced than flooded batteries and also tend to have a longer life cycle with brilliant performance levels. The major difference that allows the VRLA segment to have a larger share is in the oxygen recombination mechanism that eliminates the need to add water to valve regulated lead acid battery, simplifying operations. In comparison to other batteries such as nickel cadmium and lithium ion, lead acid batteries are more cost effective and hence are preferred over other batteries. 

Market Share by Region

The Asia Pacific has been dominating the lead acid battery market and is expected to do the same in the forecast period because of increasing sales of electric vehicles. Lead acid batteries are preferred for electric vehicle applications due to their cost-efficiency, low-cost energy storage capability, and reliability. Moreover, energy storage applications in the industrial sectors in the Asia Pacific region is also subjected to fuel the market growth rapidly. 

Developed industrial sectors and presence of major leading automobile companies such as Ford and Toyota are a major factor for the growth of the market in the North America region. 

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

Competitive Landscape

Panasonic Corporation is an industrial conglomerate company whose motto is ‘A better life, A better world’. It has its headquarter in Osaka, Japan and was founded in 1918. It manufactures electronics such as home appliances, and industrial equipment, among other products. It also provides business solutions, audio video solutions, supply chain management, and various other services to its customers globally. 

Exide Industries Ltd. was established in 1947 and is headquartered in West Bengal in India. It is a multinational battery selling company that manufactures lead-acid batteries for use in industrial and automotive sectors. Some of its products include inverter batteries, institutional UPS batteries, genset batteries, e-rickshaw vehicles, and submarine batteries, among others. It also provides solar solutions to the customers with an aim to contribute to sustainable goals. 

Clarios was founded in 1885 and is based in Wisconsin, United States. It is a motor vehicle manufacturing company which develops, creates, and distributes advanced battery technologies for all types of vehicles and continue to expand and create more in order to fulfil customer’s demand. It believes in providing energy storage solutions to customers from all around the globe. 

Other market players include GS Yuasa International Ltd., Hankook & Company Co., Ltd., and HOPPECKE Batteries Inc, among others.

Key Highlights of the Report