Market Research Report
Global Lead Acid Battery Market, By Product, By Construction Method (Flooded, Valve Regulated Lead Acid, By Sales Channel, By Application, By Region, Competition Forecast & Opportunities, 2026
|Published by||TechSci Research||Product code||998635|
|Published||Content info||117 Pages
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|Global Lead Acid Battery Market, By Product, By Construction Method (Flooded, Valve Regulated Lead Acid, By Sales Channel, By Application, By Region, Competition Forecast & Opportunities, 2026|
|Published: April 1, 2021||Content info: 117 Pages||
Global Lead Acid Battery Market, By Product (Stationary, Motive, Starting, Lighting & Ignition), By Construction Method (Flooded, Valve Regulated Lead Acid, By Sales Channel (Original Equipment Market, After Market), By Application (Transportation, Industrial Motive, Stationary Industrial, Residential, Commercial, Grid Storage), By Region, Competition Forecast & Opportunities, 2026.
Global Lead Acid Battery Market is projected to grow from USD49.93 billion in 2020 to around USD76.85 billion by 2026, with a CAGR of 7.04%, owing to the growth of industrial, transportation & commercial sectors. Moreover, the ever-increasing growth in sectors like banking, oil & gas, health care & chemicals and their growing digitalization has created an enormous demand for UPS in the workplace, also the after sales services' huge demand, etc., are expected to augment the Global Lead Acid Battery Market in future.
In 2020 due to COVID-19 pandemic, the market was hit temporarily due to longer lock down periods and the stored stock of lead acid batteries almost perished due to unuse. Also, the main manufacturers of it being from China and its dominance over the market, the business was stopped due to pandemic, and also supply and procurement were totally affected. However, post COVID pandemic, the market will see an upward trend, over the next 6 years.
In terms of product, the market can be segmented into stationary, motive and starting, Lighting & ignition (SLI), out of which SLI batteries dominated the market in 2020 and is expected to maintain its market dominance during the forecast period, backed by the wide usage in multiple applications like renewables, automotive, etc. By construction method, it is segmented into flooded and valve regulated lead acid (VRLA), of which VRLA occupies the major market due to its more efficient construction and user-friendly functionality. By sales channel it is categorized into Original Equipment Market (OEM) & aftermarket, of which aftermarket occupies the majority market due to high demand of after sales service. Finally, by application it is divided into transportation, industrial motive, stationary industrial, residential, commercial & grid storage. Out of which stationary industrial occupies the major market due to its varied applications in power back up, emergency lighting, railway backup systems, security systems, renewable energy systems, etc.
Asia-Pacific is the largest contributor with 43.71% value share in 2020 in the Global Lead Acid Battery Market. China is the largest contributing country in the region with 43.25% share in 2020, followed by India, Japan and South Korea. Growing industrialization and automotive enhancement in China are contributing to the country's leading market position. In India, the lack of 24 hrs power backup in majority of the regions, has created a huge demand for alternative power storage options like inverter batteries, which has led to a surge in lead acid battery market in the country and which will continue over the next six years.
Some of the companies operating in the global lead acid battery market include Leoch International Technology Limited, Panasonic Corporation, East Penn Manufacturing Co., GS Yuasa Corporation, Enersys Ltd., Exide Technologies Inc, Luminous Power Technologies Pvt. Ltd., FIAMM Energy Technology S.p.A., Trojan Battery Corporation and CSB Energy Technology Co., Ltd.
Years considered for this report:
Historical Years: 2016-2019
Base Year: 2020
Estimated Year: 2021
Forecast Period: 2022-2026
Objective of the Study:
To analyze and forecast global lead acid battery market, both top-down and bottom-up approaches have been used. Multiple employees from the leading companies have been interviewed through telephonic conversations to extract and verify the information being collected at the source. A brief study of the major players operating in global lead acid battery market was also undertaken. Moreover, a detailed and in-depth scrutiny of information was done to understand each policy and external or internal factor which could increase or decrease the demand for lead acid battery, globally. To extract data, primary surveys were conducted with key players and stakeholders in the industry. The future plans of major players were studied & identified.
Various secondary sources such as white papers and secondary literature on lead acid battery Like India Energy Storage Alliance (IESA) Knowledge Paper, Batteries International Magazine, BEST Mag, LABAT papers, annual reports, investor presentation, International Monetary Fund and World Bank were also studied by TechSci Research.
Key Target Audience:
The study is essential in delivering useful information to industry stakeholders such as manufacturing companies, service companies, distributors and end users related to lead acid battery market. The report also provides useful insights about which market segments should be targeted over the coming years to strategize investments and capitalize on growth opportunities in specific market segments and geographies.
In this report, global lead acid battery market has been segmented into the following categories in addition to the industry trends which have also been listed below:
Starting, Lighting & Ignition (SLI)
Valve Regulated Lead Acid
Original Equipment Market (OEM)
Middle East & Africa
Company Profiles: Detailed analysis of the major companies present in Global Lead Acid Battery Market.
Voice of Customer: Brand awareness, brand satisfaction, price, availability, and annual maintenance service, are the major factors affecting decisions related to lead acid battery for various users, globally.
With the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:
11.1.1 By Value