Lead Acid Battery: Global Market Scenario, Trends, Opportunity, Growth and Forecast, 2020-2030

By Type (SLI (Starting, lighting and ignition), Stationary and Motive), End User (Transportation, Industrial, Telecom, UPS, Utilities, Oil & Gas and Others), Demand Type (OEM and Replacement), Construction Type (Flooded & VRLA), By End Use (Telecom, Off-Grid Systems, Transport Infrastructure, Industrial, Buildings, Oil & Gas, Utilities, Consumer Automotive, Commercial Automotive, Industrial, Marine and Powersports, Material handling equipment (MHE), Mining equipment, Recreational vehicles (RVs), Railroad equipment, Golf cart/neighborhood electric vehicle (NEV), Electric vehicles and Others), By Region (North America, Europe, Asia-Pacific, Latin America, Middle East & Africa), By Company (Enersys, Exide, GS Yuasa, Clarios, Panasonic, HBL Power System, etc.)

Market Definition

Since more than 150 years ago, lead-acid batteries have been utilised in a huge variety of devices. This is due to the fact that they are currently the most dependable and stable electrochemicals employed for secure energy storage in several applications. Lead-acid batteries are created by connecting two 2-volt (V) batteries in series to create the conventional 12V and 24V batteries, however 48V batteries are not unheard of.

Market Insights

Global lead acid battery market stood at $50 billion plus in revenues. The market will experience growth as a result of multiple factors. These include increasing demand in the transport sector, as vehicle sales increase and electric vehicles become more popular; UPS systems and inverters in several applications; advancements in manufacturing processes, including rising automation, which will translate into more equipment requiring led batteries; and demand in industrial sectors, including oil and gas (O&G), manufacturing, chemical and healthcare. New emerging applications, such as in the renewable energy sector, are creating demand for stationary lead-acid batteries in large-scale storage applications, off-grid renewable energy storage and residential storage, which are expected to boost market growth

In 2022, the stationary lead-acid battery market generated a revenue of $8.76 billion, and the market is anticipated to grow at a CAGR of 5% during the forecast period. The explosion of data centres and the rising investments in the telecom space drive demand for prime, backup, and energy storage solutions, fuelling the deployment of stationary LABs. Global stationary lead-acid battery market growth is driven by battery installations in power devices such as diesel gensets, UPS systems, and DC power systems; the stand-alone battery parts of battery banks also drive growth. In addition, growth is driven by the rising number of installations of new power generation equipment in prime, peak shaving, and backup power modes

Motive Lead-Acid Battery market is expected to grow at a CAGR of 3.5% during the forecast period. Electric vehicles and Material Handling Equipment are the leading segments in the motive lead acid battery market

Market Dynamics: Drivers

Strong Demand from Automotive Sector
The primary end-user use for lead-acid batteries is anticipated to continue being the automotive sector. Lead-acid battery sales in the automotive industry will mostly be fueled by uses for ignition, lighting, and starting in cars and motorbikes. Additionally, when consumers seek features like mobile phone charging ports, integrated entertainment systems, and navigation systems in addition to wipers, radios, and air conditioners, the demand for more potent batteries will rise. Two batteries are sometimes utilized in high-end luxury cars to power all this extra equipment. In the upcoming years, market growth is projected to be fueled by the increasing demand for these batteries from the automotive industry.

Market Dynamics: Challenges

Technological Advancements Associated with Lithium-Ion Batteries
In the previous few years, the price of lithium-ion batteries has decreased by about 80% due to scientific breakthroughs connected to them and economies of scale implemented by top manufacturers. This trend is likely to continue in the near future. Lithium-ion battery use has increased as a result of the technology’s falling price, which could have a detrimental effect on the lead-acid battery business. Furthermore, the widespread adoption of lithium-ion batteries for uses like telecom and UPS is predicted to further constrain the growth of the stationary lead-acid battery market.

Market Segmentation

• Based on Type, the Global Lead Acid Battery market is segmented into
  • SLI (Starting, lighting and ignition)
  • Stationary
  • Motive
• Based on Demand Type, the Global Lead Acid Battery market is segmented into
  • OEM
  • Replacement
• Based on Construction Type, the Global Lead Acid Battery market is segmented into
  • Flooded
  • VRLA
• Based on End Use, the Global Lead Acid Battery market is segmented into
  • SLI Battery Market by End Use
    • Consumer Automotive
    • Commercial Automotive
    • Industrial
    • Marine
    • Powersports
  • Stationary Lead Acid Battery Market by End Use
    • Telecom
    • Off-Grid Systems
    • Transport Infrastructure
    • Industrial
    • Buildings
    • Oil & Gas
    • Utilities
  • Motive Lead Acid Battery Market by End Use
    • Material handling equipment (MHE)
    • Mining equipment
    • Recreational vehicles (RVs)
    • Railroad equipment
    • Golf cart/neighbourhood electric vehicle (NEV)
    • Electric vehicles
    • Others
  • Based on Geography, the Global Lead Acid Battery market is segmented into
    • Asia-Pacific
    • North America
    • Europe
    • Latin America
    • Middle East & Africa
  • All market revenue has been given in US Dollar, while the market volumes are given in units.

Historical Year: 2020-2021
Base Year: 2022
Estimated: 2023
Forecast- 2024-2030 

Key Questions this Study will Answer

• What are the key overall market statistics or market estimates (Market Overview, Market Size- By Value, Market Size-By Volume, Forecast Numbers, Market Segmentation, Market Shares) of Global Lead Acid Battery Market?
• What is the region wise industry size, growth drivers and challenges key market trends?
• What are the key innovations, opportunities, current and future trends and regulations in the Global Lead Acid Battery Market?
• Who are the key competitors, what are their key strength and weakness and how they perform in Global Lead Acid Battery Market based on competitive benchmarking matrix?

What are the key results derived from the market surveys conducted during Global Lead Acid Battery Market study?