The Lead Acid Battery market accounted for USD 43.4 Billion in 2020 and is expected to reach USD 61.9 Billion by 2028, growing at a CAGR of 4.5% from 2021 to 2028.
The Lead Acid Battery market accounted for USD 43.4 Billion in 2020 and is expected to reach USD 61.9 Billion by 2028, growing at a CAGR of 4.5% from 2021 to 2028.
The lead acid battery is used as a source for energy storing and is transferred across different applications as an energy source in terms of electricity. This thusly is impacting the lead acid battery to grow in industry on the worldwide scale. These batteries comprise of a sulfuric acid arrangement electrolyte with lead dioxide as cathode and metallic lead as anode making these battery-powered. Electrolyte water is used as protection from consumption and low release rate are not many of the key highlights exhibited by lead acid battery which consequently enhances its market value.
EnerSys is reported as developed in assembling capacities at two manufacturing plant areas particular in Pennsylvania and Florida, to oblige the expanding request from the aviation and defence sections.
The lead acid battery industry is anticipated to witness slow growth during the forecast period due to the ongoing global pandemic of COVID-19. The government has imposed strict lockdown protocols along with social distancing mandates in order to curb the community spreading of the COVID-19, which directly affected the manufacturing of lead acid batteries. However, the business outlook is projected to improve with release of vaccination drives conducted globally which will bring normal situations to the manufacturing abilities thus improving the industry statistics of lead acid batteries in the near future.
Growing demand for automobiles has augmented the lead acid battery market forecasts over the last few years. These batteries hold a dominating position across the conventional automobile industry along with other applications including micro hybrid systems and vehicles with start-stop functionality, which in turn will drive the product penetration. Lead acid battery is witnessing a cyclical demand growth owing to the superior cranking power and soaring demand for advanced vehicle technologies. Customers across the globe are gaining more interest in power sports, which in turn is further boosting the market statistics for these units globally.
Improvement in the transportation business, alongside an expansion in energy storing application is projected to drive industry interest in the impending future. Rapid development of the business vehicle, cruiser, and traveler vehicle industrial ventures is additionally projected to drive the item interest. Developing interest for UPS in different areas, such as banking, oil and gas, medical services, and synthetic substances is emphatically driving the interest.
Report Attribute | Details |
---|---|
Base Year | 2020 |
Historic Years | 2016 - 2020 |
Forecast Years | 2021 - 2028 |
Segments Covered | By Product Type, By Application, and By End Use |
Forecast Units | Value (USD Billion), and Volume (Units) |
Quantitative Units | Revenue in USD million/billion and CAGR from 2021 to 2028 |
Regions Covered | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World |
Countries Covered | U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others |
Number of Companies Covered | 10 companies with scope for including additional 15 companies upon request |
Report Coverage | Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis. |
Customization Scope | Avail customized purchase options to meet your exact research needs. |
The lead acid battery market has been segmented, by technology, into basic lead acid battery & advanced lead acid battery. This segmentation is based on the nature of the application in which the battery unit is being used. A basic lead acid battery is most commonly used because of its cost-effectiveness. The nature of this battery impacts the applications in which it is being used and also the kind of users that are implementing the same.
Lead acid batteries are used widely across industries. The market has been segmented, by end-user, into utility, transportation, industrial, and commercial & residential. The transportation segment dominated the market in 2018 and is expected to lead the lead-acid battery market during the forecast period. This is primarily because these batteries are cost-effective and are preferred for the installation in internal combustion vehicles for SLI applications.
Asia Pacific dominated the global lead acid battery market in 2018 because the region comprises relatively developing countries that require cost-effective energy storage solutions. The industrial and commercial & residential sectors, along with the transportation sector, proved to be the major consumers of these battery systems. The Asia Pacific region is expected to lead the market during the forecast period. China, Singapore, South Korea, Japan, and India are considered the main industrial hubs and offer tremendous growth opportunities for the lead-acid battery market in this region.
Major regions including North America & Europe face harsh climatic conditions in winter seasons, which fuel the requirement for a power delivery system that offers high cranking performance. Low cost and operational reliability are few of the prominent factors augmenting the adoption of lead acid battery over the other available alternatives. Moreover, growing adoption of start stop technology across conventional vehicles in order to comply with the fuel efficiency standards will enhance the market trends of these units across SLI applications.
Some of key players in Lead Acid Battery market are Clarios, Exide Industries Limited, Leoch, Shangdong, C&D Technologies, GS Yuasa East, Penn Zibo, Furukawa Crown Battery, B.B. Battery, HOPPECKE, First National Battery, Koyo Battery, Middle East Battery and Enersys among others.
There are few of the recent trends and developments in the past few years.
In November 2018, Exide Industries launched a new range of online UPS called Power NXT. This range of batteries would cater to the needs of the Small Office Home Office (SOHO) and large format retailers.
In March 2017, North Star launched RED and RED HT batteries to expand its reserve power portfolio. The RED series uses pure lead TPPL technology to deliver a recharge time of 6 hours from 50% state of charge to 100%. The RED HT series uses pure lead high-temperature–TPPL-HT technology to deliver a long life up to 7 years and better performance at an operating temperature of 40°C (104°F). This battery is suitable for high-temperature applications.
List of Figures
FIG NO. 1. Market Attractiveness Analysis, By Technology
FIG NO. 2. Market Attractiveness Analysis, By Type
FIG NO. 3. Market Attractiveness Analysis, By End-User
FIG NO. 4. Market Attractiveness Analysis, By Region
FIG NO. 5. Global Lead Acid Battery Market Revenue, 2020 – 2028 (USD Million)
FIG NO. 6. Impact of COVID-19 Pandemic in North America Countries
FIG NO. 7. Market Revenue Share, By Technology, 2020 & 2028
FIG NO. 8. Global Lead Acid Battery Market for Basic Lead Acid Battery, Revenue (USD Million) 2020 – 2028
FIG NO. 9. Comparative Revenue Analysis of Lead Acid Battery Market for Basic Lead Acid Battery, By Country, 2020 & 2028
FIG NO. 10. Global Lead Acid Battery Market for Advanced Lead Acid Battery, Revenue (USD Million) 2020 – 2028
FIG NO. 11. Comparative Revenue Analysis of Lead Acid Battery Market for Advanced Lead Acid Battery, By Country, 2020 & 2028
FIG NO. 12. Market Revenue Share, By Type, 2020 & 2028
FIG NO. 13. Global Lead Acid Battery Market for Stationary, Revenue (USD Million) 2020 – 2028
FIG NO. 14. Comparative Revenue Analysis of Lead Acid Battery Market for Stationary, By Country, 2020 & 2028
FIG NO. 15. Global Lead Acid Battery Market for Motive, Revenue (USD Million) 2020 – 2028
FIG NO. 16. Comparative Revenue Analysis of Lead Acid Battery Market for Motive, By Country, 2020 & 2028
FIG NO. 17. Market Revenue Share, By End-User, 2020 & 2028
FIG NO. 18. Global Lead Acid Battery Market for Industrial, Revenue (USD Million) 2020 – 2028
FIG NO. 19. Comparative Revenue Analysis of Lead Acid Battery Market for Industrial, By Country, 2020 & 2028
FIG NO. 20. Global Lead Acid Battery Market for Utility, Revenue (USD Million) 2020 – 2028
FIG NO. 21. Comparative Revenue Analysis of Lead Acid Battery Market for Utility, By Country, 2020 & 2028
FIG NO. 22. Global Lead Acid Battery Market for Transportation, Revenue (USD Million) 2020 – 2028
FIG NO. 23. Comparative Revenue Analysis of Lead Acid Battery Market for Transportation, By Country, 2020 & 2028
FIG NO. 24. Global Lead Acid Battery Market for Commercial and Residential, Revenue (USD Million) 2020 – 2028
FIG NO. 25. Comparative Revenue Analysis of Lead Acid Battery Market for Commercial and Residential, By Country, 2020 & 2028
FIG NO. 26. Global Lead Acid Battery Market Revenue Share, By Region, 2020 & 2028
FIG NO. 27. North America Lead Acid Battery Market Revenue, 2020 - 2028 (USD Million)
FIG NO. 28. Porter’s Five Forces Analysis for Global Lead Acid Battery Market
FIG NO. 29. PEST Analysis for Global Lead Acid Battery Market
FIG NO. 30. Pricing Analysis for Global Lead Acid Battery Market
FIG NO. 31. Value Chain Analysis for Global Lead Acid Battery Market
FIG NO. 32. Company Share Analysis, 2019
FIG NO. 33. Radar Determinant Chart, 2019
FIG NO. 34. Company Strategic Developments – Heat Map Analysis
FIG NO. 37. Market Channels
FIG NO. 38. Marketing Channel Development Trend
FIG NO. 39. Growth in World Gross Product, 2008-2018
FIG NO. 40. Research Methodology – Detailed View
FIG NO. 41. Research Methodology
List of Tables
TABLE NO. 1. Global Lead Acid Battery Market: Snapshot
TABLE NO. 2. Quarterly Lead Acid Battery Market Revenue by Region, 2020
TABLE NO. 3. Quarterly Lead Acid Battery Market Revenue Forecast by Region, 2021
TABLE NO. 4. Pre COVID-19 Market Revenue, By Region, 2016-2019 (USD Million)
TABLE NO. 5. Post COVID-19 Market Revenue, By Region, 2020-2028 (USD Million)
TABLE NO. 6. Global Lead Acid Battery Market for Basic Lead Acid Battery, by Region, 2020 – 2028 (USD Million)
TABLE NO. 7. Global Lead Acid Battery Market for Advanced Lead Acid Battery, by Region, 2020 – 2028 (USD Million)
TABLE NO. 8. Global Lead Acid Battery Market for Stationary, by Region, 2020 – 2028 (USD Million)
TABLE NO. 9. Global Lead Acid Battery Market for Motive, by Region, 2020 – 2028 (USD Million)
TABLE NO. 10. Global Lead Acid Battery Market for Industrial, by Region, 2020 – 2028 (USD Million)
TABLE NO. 11. Global Lead Acid Battery Market for Utility, by Region, 2020 – 2028 (USD Million)
TABLE NO. 12. Global Lead Acid Battery Market for Transportation, by Region, 2020 – 2028 (USD Million)
TABLE NO. 13. Global Lead Acid Battery Market for Commercial and Residential, by Region, 2020 – 2028 (USD Million)
TABLE NO. 14. Global Lead Acid Battery Market Revenue, By Region, 2020 – 2028 (USD Million)
TABLE NO. 15. North America Lead Acid Battery Market Revenue, By Country, 2020 – 2028 (USD Million)
TABLE NO. 16. North America Lead Acid Battery Market Revenue, By Technology, 2020 – 2028 (USD Million)
TABLE NO. 17. North America Lead Acid Battery Market Revenue, By Type, 2020 – 2028 (USD Million)
TABLE NO. 18. North America Lead Acid Battery Market Revenue, By End-User, 2020 – 2028 (USD Million)
TABLE NO. 19. U.S. Lead Acid Battery Market Revenue, By Technology, 2020 – 2028 (USD Million)
TABLE NO. 20. U.S. Lead Acid Battery Market Revenue, By Type, 2020 – 2028 (USD Million)
TABLE NO. 21. U.S. Lead Acid Battery Market Revenue, By End-User, 2020 – 2028 (USD Million)
TABLE NO. 22. Canada Lead Acid Battery Market Revenue, By Technology, 2020 – 2028 (USD Million)
TABLE NO. 23. Canada Lead Acid Battery Market Revenue, By Type, 2020 – 2028 (USD Million)
TABLE NO. 24. Canada Lead Acid Battery Market Revenue, By End-User, 2020 – 2028 (USD Million)
TABLE NO. 25. Mexico Lead Acid Battery Market Revenue, By Technology, 2020 – 2028 (USD Million)
TABLE NO. 26. Mexico Lead Acid Battery Market Revenue, By Type, 2020 – 2028 (USD Million)
TABLE NO. 27. Mexico Lead Acid Battery Market Revenue, By End-User, 2020 – 2028 (USD Million)
TABLE NO. 28. Drivers for the Lead Acid Battery Market: Impact Analysis
TABLE NO. 29. Restraints for the Lead Acid Battery Market: Impact Analysis
TABLE NO. 30. Major Buyers of Lead Acid Battery
TABLE NO. 31. Distributors/Traders List of Lead Acid Battery
TABLE NO. 32. Global Lead Acid Battery Market, Company Market Revenue, 2016 – 2019 (USD Million)
TABLE NO. 33. Global Lead Acid Battery Market, Company Y-o-Y Growth, 2017 – 2019 (USD Million)
The Lead Acid Battery market was valued at USD 43.4 Billion in 2020.
The Lead Acid Battery market is expected to reach USD 61.9 Billion by 2028, growing at a CAGR of 4.5% between 2021 to 2028.
Lead-acid batteries have been the most cost-effective technology. However, with the rise of alternative battery storage technologies, especially the lithium-ion technology, lead-acid batteries are losing out on the cost-effectiveness quotient. Lead-acid batteries are witnessing a price drop nearly across all industries..
The Asia Pacific region is expected to lead the market during the forecast period. China, Singapore, South Korea, Japan, and India are considered the main industrial hubs and offer tremendous growth opportunities for the lead-acid battery market in this region.
Some of the major companies operating in the Lead Acid Battery market are Clarios, Exide Industries Limited, Leoch, Shangdong, C&D Technologies, GS Yuasa East, Penn Zibo, Furukawa Crown Battery, B.B. Battery ,HOPPECKE, First National Battery ,Koyo Battery, Middle East Battery and Enersys among others.
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