Wilmington, Delaware, United States, Dec. 11, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. -The global market for automotive lead-acid batteries is projected to surge significantly at a CAGR of 4.7% between 2023 and 2031. As per Transparency Market Research, the total sales of automotive lead-acid batteries are anticipated to reach US$ 27.7 billion by the end of the forecast period.
The automotive lead-acid battery sector witnesses growth through diversification into newer applications beyond traditional vehicles. Expanding into industries like renewable energy storage, uninterruptible power supply (UPS) systems, and telecom towers broadens market scope and sustains demand.
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Some prominent manufacturers are as follows:
- Exide Industries
- Apex Battery
- BAE Batteries USA
- Bioenno Power
- Briggs & Stratton
- Chaowei Power
- Clarios
- Crown Battery
- East Penn Manufacturing Co.
- EnerSys
- Furukawa Electric
- GS Yuasa Corporation
- HBL Power Systems
- Hitachi Chemical
- JYC Battery
- K2 Battery
- Leoch International Technology
- Lithion Battery
- Luminous
- Microtek
- Northstar
- Panasonic Corp.
- Su-KAM
- The Sunlight Group
- V-Guard
Implementation of circular economy principles within lead-acid battery manufacturing and recycling enhances sustainability. Initiatives focusing on closed-loop recycling, resource efficiency and eco-friendly disposal methods bolster market growth while aligning with environmental regulations.
Rising interest in hybrid power systems integrating lead-acid batteries with other energy sources, like solar and wind, drives innovation. These hybrid solutions cater to remote or off-grid areas, offering reliable and sustainable power supply options and contributing to market expansion.
Advancements in battery monitoring technologies and smart management systems enhance battery life and performance. Integrating intelligent sensors and software solutions optimizes lead-acid battery usage, improving efficiency and reliability across applications.
Key Findings of the Market Report
- AGM SLA construction design leads the automotive lead-acid battery market due to its superior performance, safety, and maintenance-free qualities.
- Deep Cycle Battery leads the automotive lead-acid battery market, catering to energy storage needs in various applications, including renewable energy.
- Passenger Vehicles Battery leads the automotive lead-acid battery market, owing to high demand, diverse applications, and widespread vehicle ownership.
Automotive Lead-acid Battery Market Growth Drivers & Trends
- Growing demand for electric vehicles fuels the need for advanced lead-acid batteries, driving innovation and production to meet eco-friendly transportation demands.
- Increasing vehicle fleet and maintenance requirements generate steady aftermarket demand, propelling the automotive lead-acid battery market growth.
- R&D efforts focus on enhancing battery performance, longevity, and charging capabilities, driving the market towards more efficient and reliable solutions.
- Emphasis on sustainable battery recycling programs and eco-friendly manufacturing practices supports market growth, aligning with environmental regulations and consumer preferences.
- Developing regions witness a surge in automotive sales, leading to increased demand for lead-acid batteries, presenting lucrative growth prospects in expanding markets.
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Global Automotive Lead-acid Battery Market: Regional Profile
- In North America, the market thrives on the region's robust automotive sector. Established battery manufacturers like Johnson Controls and Exide Technologies lead the market, focusing on advanced technology and reliability, serving the aftermarket and OEM segments. The growing trend toward electric vehicles (EVs) and hybrid cars further accelerates demand for high-quality lead-acid batteries.
- Europe strongly emphasizes sustainable transportation solutions, driving the market for AGM and EFB lead-acid batteries. Companies like Banner Batteries and VARTA AG prioritize eco-friendly battery solutions, aligning with the region's stringent emission regulations and the rising EV market.
- Asia Pacific dominates the automotive battery market, led by countries like China and India. Manufacturers such as GS Yuasa and Fengfan Co. Ltd capitalize on the region's burgeoning automotive industry, focusing on innovation and cost-effective battery solutions, catering to diverse vehicle segments, including passenger cars, commercial vehicles, and two-wheelers.
Automotive Lead-acid Battery Market: Competitive Landscape
The automotive lead-acid battery market thrives amidst competitive dynamics led by established players like Johnson Controls, Exide Technologies, and East Penn Manufacturing. These industry giants dominate through extensive product portfolios catering to various vehicle types, focusing on durability, reliability, and technological advancements.
Emerging contenders such as GS Yuasa and Camel Group further intensify competition, emphasizing innovative solutions and sustainability. Market competitiveness revolves around advancements in AGM and EFB battery technologies, meeting stringent emission norms, and catering to the burgeoning electric vehicle (EV) sector.
Pursuing superior performance, cost-efficiency, and eco-friendly solutions drives this competitive landscape in the automotive lead-acid battery segment.
Product Portfolio
- Chaowei Power is a leading provider of energy storage solutions, specializing in batteries for various applications. Their portfolio encompasses reliable lead-acid and lithium batteries, offering superior performance for automotive, telecommunications, solar energy storage, and more, catering to diverse industry needs with innovative power solutions.
- Clarios is a renowned global leader in advanced energy storage solutions, delivering cutting-edge batteries for automotive and industrial applications. With a focus on innovation, their diverse portfolio includes AGM, EFB, and lithium-ion batteries, ensuring high-performance, durability, and sustainability across various sectors.
- Crown Battery is a prominent manufacturer of deep-cycle batteries, serving industries such as renewable energy, marine, and material handling. Known for superior quality and reliability, their product range includes flooded lead-acid, sealed AGM, and gel batteries, providing robust power solutions for critical applications worldwide.
Automotive Lead-acid Battery Market: Key Segments
By Construction Design
- Flooded Lead-acid Battery
- Sealed Lead-acid Battery (SLA)/ Valve Regulated Lead-acid (VRLA)
- AGM SLA
- Gel SLA
By Cycle
- Deep Cycle Battery
- Starter Battery
By Vehicle Type
- Two Wheeler Battery
- Three Wheeler Battery
- Passenger Vehicles Battery
- Commercial Vehicles Battery
- Buses & Coaches Battery
- Off-road Vehicles Battery
- E-Ride Battery
By Sales Channel
- OEM
- Aftermarket
By Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
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