PUBLISHER: The Business Research Company | PRODUCT CODE: 1429529
PUBLISHER: The Business Research Company | PRODUCT CODE: 1429529
Lead-acid batteries, due to their larger size and high energy storage capacity, are commonly employed in various applications such as automobiles, uninterruptible power supply (UPS), telecommunications, and inverters, primarily because of the substantial power supply they can provide.
The primary classifications of lead-acid batteries are stationary and motive. Stationary lead-acid batteries are utilized in conjunction with backup power devices such as inverters or UPS systems, offering essential backup power to the connected equipment. Small capacity SLA batteries find application in devices such as emergency lighting and security equipment. Different technologies employed include Basic Lead Acid Battery and Advanced Lead Acid Battery, which is constructed through the Flooded and Valve Regulated Lead Acid (VRLA) methods. End-users for these batteries span transportation, industrial, residential, and commercial sectors.
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.
The lead acid batteries market size has grown rapidly in recent years. It will grow from $28.86 billion in 2023 to $32.02 billion in 2024 at a compound annual growth rate (CAGR) of 11.0%. The growth observed in the historical period can be attributed to robust economic expansion in emerging markets, swift growth in the automotive industry, and an increasing demand for renewable energy.
The lead acid batteries market size is expected to see rapid growth in the next few years. It will grow to $47.24 billion in 2028 at a compound annual growth rate (CAGR) of 10.2%. The anticipated growth in the forecast period can be ascribed to the rising demand for electric vehicles and the expansion of data center infrastructure. Noteworthy trends during this period encompass the development of graphene-enhanced lead-acid batteries, the utilization of carbon additives in lead-acid battery electrodes, a heightened emphasis on valve-regulated stationary lead-acid batteries, the introduction of battery analyzers for testing lead-acid batteries, and strategic partnerships and collaborations among market players.
The expansion of the lead-acid batteries market has been significantly influenced by the growing demand in the automobile industry. This surge is attributed to increased research and development activities within the automotive lead-acid battery sector and governmental support for electric vehicles, contributing to the overall growth of the global automotive market. An illustrative example is the Indian government's commitment to providing incentives totaling US$ 3.5 billion, part of a revised program aimed at promoting the production and export of clean technology vehicles until 2026. The substantial adoption of lead-acid batteries in electric vehicles, coupled with governmental initiatives to encourage electric vehicle adoption, is expected to foster the lead-acid battery market's demand in the foreseeable future.
The lead-acid batteries market is poised for growth due to the rising adoption of electric vehicles. Electric vehicles (EVs), propelled by one or more electric motors with power stored in onboard batteries, are increasingly prevalent. Although lead-acid batteries are typically used for auxiliary functions in EVs, they play a crucial role in supporting various components. The International Energy Agency reports a significant global milestone, with approximately ten million electric vehicles delivered worldwide by 2022, indicating a growing market share of 14% in 2022, up from 4% two years prior. This trend underscores the significant influence of electric vehicle adoption on the lead-acid batteries market.
The introduction of absorbent glass mat (AGM) technology, representing a lighter, more electrically reliable, and high-performance lead-acid battery variant, is contributing to heightened demand. AGM batteries are favored for upscale motorcycles, offering reduced weight, minimal acid spilling, and excellent performance in cold temperatures. These batteries are gaining traction not only in motorcycles but also in applications such as motor homes, marine vehicles, and robotics. As advancements in lead-acid battery technologies continue, the market is anticipated to experience increased demand.
In August 2022, Schuler AG, a German manufacturing company specializing in presses and battery technology, completed the acquisition of Sovema Group S.p.A. The acquisition positions Schuler to develop the necessary technologies for equipping gigafactories dedicated to mass-producing lithium-ion batteries. The transaction encompasses both the lithium-ion and lead-acid battery divisions of Italy-based Sovema. Sovema Group S.p.A., a battery manufacturing company, operates in both these segments.
In January 2021, Batek Makina Ltd., a Turkish battery equipment manufacturer, successfully acquired Bertola Snc, an Italian company specializing in battery charging equipment. This strategic acquisition allows Batek Makina Ltd. to broaden its product offering in the battery charging equipment industry, fostering business diversification.
Major companies operating in the lead acid batteries market report are Chaowei Power Holdings Limited, GS Yuasa Corporation, Clarios International Inc., EnerSys, East Penn Manufacturing Co, Camel Group Co., Ltd., Zhejiang Narada Power Source Co. Ltd., Leoch International Technology Ltd., Exide Industries Ltd., Panasonic Corporation, Amara Raja Batteries Limited, Guangdong Techfine Electronic Co., Ltd., Kaiying Power Supply & Electrical Equip Co., Ltd., Fujian Jiage Power Tech Co., Ltd., Jujiang Power Technology Co., Ltd., Suzhou Foberria New Energy Technology Co., Ltd., Xiamen Songli Import and Export Co., Ltd., Manbat, AceOn Group, ENIX Energies, Ultracell, Deutsche Power, Ads-tec GmbH, AEG & Behin T, Akasol Engineering GmbH, AKTEX Inc., AKOM JSC, The Ural Plant of Chemical Reagents, SOLARUS ENERGY Ltd., Yuntong Power Co.,Ltd., Krascrystal Co., Ltd., Veaga-Teplo Ltd., C&D Technologies, Inc., CSB Energy Technology Co., Ltd., Koyo Battery Co., Ltd., Astra Otoparts, Robert Bosch GmbH, Stryten Salina, LLC, Industrias Tudor Sp De Bateriais Ltda, Grupo Craft, Acumuladores Moura S.A., Sociedad Quimica y Minera (SQM) Salar S.A., Baterias Willard S.A., Dubatt Battery Recycling LLC, Sharaf Group, Middle East Battery Company (MEBCO), Seri Industrial S.p.A., Classic Power Batteries Trading LLC, Lento Industries Private Limited, Sunlight Group, E Schnapp Co Works Ltd., Shmuel De-Leon Energy, Ltd., Dixon Batteries, Enertec Batteries Pty Ltd., First National Battery, Renergy Technologies, Sunfor Technologies (PTY) Ltd
Asia-Pacific was the largest region in the global lead-acid batteries market in 2023. The regions covered in the lead acid batteries market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the lead acid batteries market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain
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.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Lead Acid Batteries Global Market Report 2024 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.
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.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of covid 19 on supply chains and consumption patterns.