Jersey City, NJ, April 12, 2023 (GLOBE NEWSWIRE) -- InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global Automotive Lead Acid Battery Market Size, Share & Trends Analysis Report By Product (SLI and Micro-Hybrid Batteries), Type (Flooded, Enhanced Flooded, and VRLA), Customer Segment (OEM and Aftermarket), End User (Passenger Car, Light Commercial Vehicles, Heavy Commercial Vehicles, Two-Wheeler, and Three-Wheeler), and Application (Hybrid Vehicles, Electric Vehicles, Light Motor Vehicles, and Heavy Motor Vehicles)- Market Outlook And Industry Analysis 2031"
The global automotive lead acid battery market is estimated to reach over USD 39.84 billion by 2031, exhibiting a CAGR of 4.78% during the forecast period.
An automotive lead-acid battery is a type of rechargeable battery that uses lead plates and a sulfuric acid electrolyte to store and deliver electrical energy. It is a traditional battery technology that has been widely used in vehicles for several decades. Automotive lead-acid batteries are designed to provide a reliable source of power for starting the engine and backup power in case of a dead battery or another power failure. Automotive lead-acid batteries are commonly used in various vehicles, including passenger cars, light trucks, commercial vehicles, and recreational vehicles.
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They are widely used due to their low-cost, high-energy density, and reliable performance. Despite the availability of alternative battery technologies, such as lithium-ion batteries, lead-acid batteries are still widely used in vehicles due to their low cost and reliability. Compared to other battery types, such as lithium-ion batteries, automotive lead-acid batteries have a limited life cycle. Because of this, they must be replaced more often, which can add to car owners' costs. For lead-acid batteries to operate properly, routine maintenance is necessary, such as checking the electrolyte levels and cleaning the battery connections. Battery failure or damage could result from irregular maintenance.
Recent Developments:
• In 2020, Extensive collaboration with GS Yuasa International Ltd. to establish regional energy hubs in the UK. They were starting a project with Albion Community Power to combine Yuasa's hybrid lead/lithium battery system with clean wind and solar energy.
• In February 2019, The National Alliance for Advanced Transportation Batteries named hydrolysate one of the top 10 developing battery technologies.
List of Prominent Players in the Automotive Lead Acid Battery Market:
• C&D Technologies Inc.
• Clarios
• CSB Energy Technology Co.
• East Penn Manufacturing Company
• EnerSys Inc.
• Exide Industries Ltd.
• FIAMM Energy Technology S.p.A.
• General Motors Company
• GS Yuasa Corporation
• Johnson Controls Inc.
• Koyo Battery Co., Ltd.
• Leoch International Technology Ltd
• Middle East Battery Company
• Northstar Battery Company LLC.
• Panasonic Corporation
• PT Century Batteries Indonesia
• Reem Batteries & Power Appliances Co. Saoc
• Robert Bosch GmbH
• Saft Groupe S.A.
• Samsung Sdi Company Limited
• Tai Mao Battery Co., Ltd.
• Thai Bellco Battery Co.,Ltd.
• Trojan Battery Company
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Automotive Lead Acid Battery Market Report:
| Report Attribute | Specifications |
| Market size value in 2022 | USD 26.57 Bn |
| Revenue forecast in 2031 | USD 39.84 Bn |
| Growth rate CAGR | CAGR of 4.78% from 2023 to 2031 |
| Quantitative units | Representation of revenue in US$ Million, and CAGR from 2023 to 2031 |
| Historic Year | 2019 to 2022 |
| Forecast Year | 2023-2031 |
| Report coverage | The forecast of revenue, the position of the company, the competitive market statistics, growth prospects, and trends |
| Segments covered | Type, Product, Customer Segment, End User And Application |
| Regional scope | North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
| Country scope | U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; The UK; France; Italy; Spain; China; Japan; India; South Korea; Southeast Asia; South Korea; Southeast Asia |
Market Dynamics:
Drivers:
The use of hybrid and electric vehicles to improve air quality and address environmental issues like carbon emissions is fueling a growing market for low-emission or zero-emission batteries, increasing demand for lead-acid batteries. Lead-acid batteries are being utilized increasingly frequently due to the quick depletion of fossil resources. Government rules on greenhouse gas emissions from automobiles have outlawed the sale of vehicles that generate more pollutants. This is the main driver of the automotive lead acid battery market.
Challenges:
The prime challenge is overcharging, and the accessibility of affordable alternatives in developing countries is predicted to reduce the growth of the automotive lead acid battery market. When a lead-acid battery is overcharged, it can generate excess heat, which can cause the battery to overheat and potentially explode. This risk is particularly high in high-performance applications, where the battery is charged and discharged rapidly.
Another significant issue for the sector is the need for affordable replacements for automotive lead-acid batteries. Lithium-ion batteries are one alternative technology that is gaining popularity because of their high energy density, lengthy lifespan, and minimal environmental impact. These batteries gradually replace lead-acid batteries in many applications, such as electric automobiles and stationary energy storage devices.
Regional Trends:
The Asia Pacific automotive lead acid battery market position is anticipated to register a significant market share in revenue and is expected to rise at a high CAGR soon. Due to South Asia's and China's significant development potential as the two main countries driving e-mobility initiatives, this region has the largest lead acid battery market. The lead acid battery market in this region will be boosted by a lack of grid infrastructure, a significant gap in the production supply of electricity, and a need for a consistent and dependable source of energy. As the demand for vehicles and the automotive sector continues to increase, Asia Pacific is a large market for lead-acid batteries. It is anticipated to rise over the coming years.
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Segmentation of the Automotive lead acid battery market-
By Product-
- SLI
- Micro Hybrid Batteries
By Type-
- Flooded
- enhanced flooded
- VRLA
By Customer Segment
- OEM
- Aftermarket
By End-user
- Passenger Car
- Light Commercial Vehicles
- Heavy Commercial Vehicles
- Two-Wheeler
- Three-Wheeler
By Application
- Hybrid Vehicles
- Electric Vehicles
- Light Motor Vehicles
- Heavy Motor Vehicles
By Region-
North America-
- The US
- Canada
- Mexico
Europe-
- Germany
- The UK
- France
- Italy
- Spain
- Rest of Europe
Asia-Pacific-
- China
- Japan
- India
- South Korea
- South East Asia
- Rest of Asia Pacific
Latin America-
- Brazil
- Argentina
- Rest of Latin America
Middle East & Africa-
- GCC Countries
- South Africa
- Rest of the Middle East and Africa
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