IMARC Group, a leading market research company, has recently releases report titled “Lead Acid Battery Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global lead acid battery market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Report Highlights
Table of Contents
How big is the lead acid battery market?
| Report Attributes | Details |
| Market Size in 2022 | US$ 33 Billion |
| Market Forecast in 2028 | US$ 41.5 Billion |
| Growth rate (2023 to 2028) | CAGR of 4% |
| Base Year of the Analysis | 2022 |
| Forecast Period | 2023-2028 |
What is lead acid battery?
Lead acid batteries are rechargeable batteries that use sponge lead and lead peroxide to convert chemical energy into electrical energy. They comprise negative electrodes attached to a grid of metallic lead and positive electrodes of lead oxides of various compositions. They also contain doping agents, such as selenium, cadmium, and arsenic, to lower the concentrations of impurities. They are maintained by applying a saturated charge for some hours to retain the lead acid properly. They are easy to manufacture, capable of high discharge rates, and highly reliable. They provide stable power backup to electronic devices and are cost-efficient and easily available. Lead acid batteries can efficiently function in both high and low temperatures by retaining their charge. They provide starting, lighting, and ignition (SLI) power sources to electric vehicles (EVs), motorcycles, and micro-hybrid cars. They are also used to offer continuous power supply in golf carts and wheelchairs. Lead acid batteries assist in providing power backups to cellular repeater towers, internet hubs, and various marine vessels. As lead acid batteries are highly durable, they are widely utilized in hospitality, healthcare, data center, telecommunications, oil and gas, mining, chemical, pharmaceutical, and food and beverage (F&B) industries.
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What are the growth prospects and trends in the lead acid battery
industry?
The growing adoption of enhanced connectivity systems to increase functionality, reliability, and safety of devices, along with the burgeoning telecommunications industry, represents one of the key factors driving the market. Besides this, there is a rise in the utilization of battery-operated cars and electric bikes worldwide as they are durable, energy-efficient, and eco-friendly. This, coupled with the rising environmental awareness among the masses, is propelling the growth of the market. In addition, the increasing demand for lead acid batteries in railways for lighting and air-conditioning the coaches is contributing to the growth of the market. Apart from this, the growing number of data centers to overcome data complexities, along with the increasing need for uninterruptible power supply (UPS) systems in data centers around the world, is offering a favorable market outlook. Additionally, the rising demand for lead acid batteries for running diesel-electric and nuclear submarines and marine vessels is positively influencing the market. Furthermore, key market players are extensively investing in research and development (R&D) activities to introduce enhanced quality lead acid batteries with increased charging capacity. They are also focusing on mergers and acquisitions (M&A) to build new production plants and boost their product sales, which is expected to bolster the growth of the market.
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Product:
- SLI
- Stationary
- Motive
Breakup by Construction Method:
- Flooded
- Valve Regulated Sealed Lead–acid Battery (VRLA)
Breakup by Sales Channel:
- OEM
- Aftermarket
Breakup by Application:
- Automotive
- UPS
- Telecom
- Others
Breakup by Geography:
- North America (U.S. & Canada)
- Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Others)
- Asia Pacific (China, India, Japan, South Korea, Indonesia, Australia, and Others)
- Latin America (Brazil, Mexico)
- Middle East & Africa
Who are the key players operating in the industry?
The report covers the major market players including:
- C&D Technologies Inc.
- Clarios International Inc.
- East Penn Manufacturing Co.
- EnerSys (NYSE: ENS)
- Exide Industries Limited (NSE: EXIDEIND)
- GS Yuasa Corporation (TYO: 6674)
- HBL Power Systems Limited
- HOPPECKE Batterien GmbH & Co. KG
- Leoch International Technology Limited
- Panasonic Holdings Corporation
- Teledyne Technologies Incorporated
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