Pune India, Dec. 08, 2022 (GLOBE NEWSWIRE) -- The market has been studied for the below mentioned-segmentation and regional analysis for North America, Europe, Asia, South America, and Middle East and Africa. These are the key regions where the lead acid battery market is operating currently and is predicted to expand in the near future. The manufacturers and suppliers involved in the lead acid battery market is present across various countries in the above-mentioned regions.
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The report provides a detailed understanding of the market segments formed by combining different prospects such as application, construction, sales channel, and others. Apart from this, the key driving factors, restraints, potential growth opportunities and market challenges are also discussed in the below paragraphs.
The significant players operating in the global lead acid battery market are C&D Technologies, Shandong Sacred Sun Power Sources, GS Yuasa International, Enersys, B.B. Battery, Middle East Battery Company, Exide Industries, MUTLU, Narada Power Source Co., Ltd. Leoch International Technology, and Amara Raja Batteries, among others. To achieve a substantial market share in the worldwide lead acid battery market and strengthen their position, manufacturers are pursuing expansion methods such as current developments, mergers and acquisitions, product innovations, collaborations, and partnerships, joint ventures.
The lead acid battery is the most conventional type of rechargeable battery and is used in a wide range of industries. Also because cells have a high power to weight ratio, it offers the advantage of supplying high surge current. Lead acid batteries are desirable for usage in the automobile industry due to their high power to weight ratio and low price. Battery terminals, plates, cells, separators, and containers are the components of lead acid batteries. The majority of data centers in the region use a lot of power. To maintain a steady supply of power, battery technologies are used in backup systems, which are essential for data centre power and storage. Salesforce is one of many software companies that plans to continue invest in data centre and enterprise cloud computing infrastructure. The proliferation of relevant features, such as valve-regulated lead acid batteries, will result from the increase of data centre infrastructure. The need for data centres to centralise information, store data, and disseminate data is also expected to grow as IT infrastructure continues to advance. Globally, there is a high reliance on ongoing communication, and information sharing is on the rise. These and other factors, together with the growing frequency of unplanned power outages, will create profitable expansion prospects for the lead acid battery business.
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Scope of Lead Acid Battery Market Report
| Report Metric | Information |
| Study Period | 2021-2029 |
| Base Year | 2021 |
| Forecast Period | 2022-2029 |
| Market Share Unit | USD Billion |
| Segments Covered | By Application, By Construction, By Sales Channel, region |
| Regions Covered | North America, Europe, Asia-Pacific, South America and Middle-East and Africa |
| Major Players | C&D Technologies, Shandong Sacred Sun Power Sources, GS Yuasa International, Enersys, B.B. Battery, Middle East Battery Company, Exide Industries, MUTLU, Narada Power Source Co., Ltd. Leoch International Technology, and Amara Raja Batteries, among others |
Segmentation Analysis
VRLA is expected to be the fastest growing segment in 2021.
The construction includes flooded and VRLA. VRLA are expected to witness the highest growth rate during the forecast period. Favorable characteristics including strong temperature resistance and minimal electrolyte evaporation and spillage will boost product demand. Additionally resistant to shock and vibration, this kind of battery. They have advantages over traditional flooded units in terms of installation, safety, and energy density.
The SLI segment is expected to be the fastest-growing segment in 2021.
The application segment is stationary, motive, and SLI. Due to the increased demand for other products, such as stationery and motive, it is anticipated to develop slowly over the forecast period. However, it is projected that rising demand in high power applications, such as the automobile industry, will favourably impact the segment's growth. Over the course of the forecast period, growth is anticipated to be aided by rising car production, particularly in China, Japan, India, Brazil, Mexico, South Korea, and the United States. For instance, Amara Raja Batteries and Johnson Controls signed a contract in October 2018 to provide a new battery technology in India that offers high-end consumer features and stringent pollution criteria for the automotive sector. During the forecast period, it is predicted that such initiatives will fuel the need for lead-acid batteries.
Regional Analysis
The regional analysis provides a detailed perception about the key regions and the countries. Some of the key countries analyzed for the Lead Acid Battery include US, Canada, Mexico, Germany, France, U.K., Italy, Spain, Russia, China, Japan, India, Brazil, Peru, UAE, South Africa and Saudi Arabia.
- Asia Pacific region witnessed a major share. Lead-acid battery use is expected to be fueled by the expanding construction sector in developing nations including China, South Korea, Vietnam, India, Japan, Malaysia, and Indonesia. The Society of Indian Automobile Manufacturers reports that overall automobile sales increased by 14.22% from 2016-2017 to 2017-2018. SLI lead-acid batteries will become more popular as automobile sales increase. Due to the rising demand for energy storage batteries in China and India, the Asia Pacific region is predicted to have the highest CAGR throughout the forecast period. Furthermore, it is predicted that supportive government policies intended to attract FDI and public-private partnerships will increase regional product demand.
Country Analysis
- Germany
Germany's lead acid battery market size was valued at USD 6.19 billion in 2021 and is expected to reach USD 7.13 billion by 2029, at a CAGR of 1.8% from 2022 to 2029.
The rising demand from a wide range of industries, including the telecom, oil and gas, automotive, mining, manufacturing, and chemical sectors, is the main driver of demand in the German market. The demand for lead acid batteries has also increased as a result of the presence of major automobile manufacturers in Germany.
- China
China Lead Acid Battery’s market size was valued at USD 12 billion in 2021 and is expected to reach USD 14.7 billion by 2029, at a CAGR of 2.6% 2022 to 2029. In China, the need of a consistent and effective power supply has increased. High-capacity batteries are also in high demand due to the widespread use of devices like inverters, UPS systems, and switchgear. These factors fuels the demand for lead acid batteries in the country.
- India
India's Lead Acid Battery market size was valued at USD 10 billion in 2021 and is expected to reach USD 11.9 billion by 2029, at a CAGR of 2.3% from 2022 to 2029. India's market for lead acid batteries is growing as a result of the country's flourishing telecom sector and increased technological advancement. The rising subscriber base in India over the past ten years has been mostly attributed to the expanding population, the era of digitization, and the introduction of 4G services. It is anticipated that this trend will continue with the impending rollout of 5G services throughout the nation. As a result of the companies' need to build more telecom towers across the nation to accommodate rising customer numbers, there is now a substantial market for backup lead-acid batteries.
Covid-19 Impact
Covid-19 had a major impact on almost all industries, such as electronics, semiconductors, manufacturing, automobile, etc. However, several companies operating in the technology sector have seen increased revenue due to significant changes in consumer preferences toward technological services. In addition, the pandemic has led to significant growth in technology across developing and developed countries.
Furthermore, the growth of this market is mainly driven owing to the rising demand for lead acid batterys from various applications, including commercial and residential applications.
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