Lead Acid Batteries Global Market Report 2023

“Lead Acid Batteries Global Market Report 2023 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on lead acid batteries market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

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Where is the largest and fastest growing market for lead acid batteries ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The lead acid batteries market global report ” from The Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

Scope

Markets Covered:

1) By Type: Stationary; Motive

2) By Technology: Basic Lead Acid Battery; Advanced Lead Acid Battery

3) By Construction Method: Flooded; Valve Regulated Lead Acid (VRLA)

4) By End User: Transportation; Industrial; Residential; Commercial

Companies Mentioned: EnerSys; Exide Industries; GS Yuasa; Clarios; Panasonic

Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA

Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa

Time series: Five years historic and ten years forecast.

Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,

Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.

Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.

Delivery format: PDF, Word and Excel Data Dashboard.

Executive Summary

Major players in the lead-acid batteries market are: EnerSys, Exide Industries, GS Yuasa, Clarios, Panasonic, Chaowei Power, Narada Power, HBL Power Systems, Crown Battery, and NorthStar.

The global lead acid batteries market is expected to grow from $41.33 billion in 2021 to $45.42 billion in 2022 at a compound annual growth rate (CAGR) of 9.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services effecting many markets across the globe. The lead-acid batteries market is expected to reach $56.55 billion in 2026 at a CAGR of 5.6%.

The lead-acid batteries market consists of sales of sealed and flooded batteries . Values in this market are: 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

Lead-acid batteries are bigger and store a high amount of energy. These batteries are generally used in automobiles, uninterruptible power supply (UPS), telecommunications, and inverters attributed to their requirement for a high-power supply.

Asia-Pacific was the largest region in the lead-acid batteries market in 2021. The regions covered in the lead-acid batteries market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

The main types of lead-acid batteries are stationary and motive. Stationary lead-acid batteries are utilized in conjunction with a backup power device such as an inverter or a UPS to provide the necessary backup to the equipment being powered. SLA batteries with lower capacities are utilized in devices such as emergency lighting and security equipment. The various technologies used are Basic Lead Acid Battery; Advanced Lead Acid Battery is constructed through the Flooded and Valve Regulated Lead Acid (VRLA) method. The various end-users include transportation, industrial, residential and commercial end-users.

Growing demand in the automobile industry contributed to the growth of the lead-acid batteries market. Rising research and development activities in the automotive lead-acid battery industry, coupled with government initiatives for electric vehicles are propelling the growth of the global automotive market, thereby increasing the demand for lead-acid batteries. For instance, in October 2022, according to the Indian Brand Equity Foundation (IBEF), India-based, an India-based government agency for providing economic information, incentives of US$ 3.5 billion are proposed by the Indian government as part of a revised program to promote the production and export of clean technology vehicles over five years until 2026. Additionally, as of June 2021, 87,659 electric vehicles had received incentive support, 6,265 electric buses had been approved for usage by various state/city transportation undertakings, and Rs. 871 crores (US$ 117 million) had been spent under the FAME-II plan. The increasing adoption of lead-acid batteries in electric vehicles along with growing government initiatives to promote electric vehicles is anticipated to drive the demand for the lead-acid battery market in the forecast period.

The declining price of lithium-ion batteries strongly challenges the lead-acid batteries market and restrains the market. Lithium-Ion batteries are cost-effective with offered characteristics such as high energy storage, depth of discharge, increased life span, and better performance and are popularly used in electric vehicles, and military and aerospace applications. According to the Our World in Data article published in June 2021, a UK -based non-profit organization for research and data, in the past three decades, the cost of lithium-ion battery cells has decreased by 97%. Therefore, the decrease in prices of lithium-ion batteries is challenging the demand for the lead-acid market.

The introduction of an absorbent glass mat (AGM), a lead-acid battery with a lower weight, better electrical reliability, and higher performance is contributing to higher demand for lead-acid batteries. According to Battery University, AGM is a preferred battery for upscale motorbikes, owing to features such as reduced weight, lesser acid spilling, and good performance at cold temperatures. These batteries are also gaining traction in motor home, marine, and robotic applications. Therefore, advancements in lead-acid batteries will generate higher demand for the lead-acid batteries market in the forecast period.

In January 2021, Batek Makina Ltd, a Turkey-based battery equipment manufacturer acquired Bertola Snc for an undisclosed amount. Through this acquisition, Batek Makina Ltd aims to expand its offering into the battery charging equipment industry and to bring diversification in business. Bertola Snc is an Italy-based company operating in battery charging equipment.

The countries covered in the aircraft cables market are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.

The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD ($) unless otherwise specified).

The revenues for a specified geography are consumption values - that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products.

The lead-acid batteries market research report is one of a series of new reports from The Business Research Company that provides lead-acid batteries market statistics, including lead-acid batteries industry global market size, regional shares, competitors with a lead-acid batteries market share, detailed lead-acid batteries market segments, market trends and opportunities, and any further data you may need to thrive in the lead-acid batteries industry. This lead-acid batteries market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.