Vancouver, Nov. 14, 2023 (GLOBE NEWSWIRE) -- The global lead acid battery market, valued at USD 47.08 billion in 2022, is set to sustain a strong growth trajectory with a projected revenue compound annual growth rate (CAGR) of 4.3% during the forecast period. Key factors propelling this expansion include the rising demand for lead acid batteries, technological advancements, and a thriving telecom sector.
Lead acid batteries, known for their reliability and cost-effectiveness, find extensive use in applications such as telecommunications, data centers, healthcare facilities, and emergency lighting systems. Notably, these batteries enjoy a remarkable recycling rate, with 99% of them being recycled in the U.S. Each year, over 100 million lead-acid batteries are sold in the U.S., mainly as starter batteries for vehicles, further contributing to their sustainability.
One major driver of market growth is the increasing need for Uninterrupted Power System (UPS) systems, especially in data centers and critical infrastructure. Lead acid batteries are favored for their capacity to deliver reliable backup power. Additionally, the automotive industry's demand for energy storage devices is on the rise, thanks to the increased production of commercial vehicles, motorcycles, and passenger cars.
A significant market trend is the growing demand for renewable energy sources, which has a direct impact on the demand for energy storage batteries. As renewable energy is expected to account for over 70% of electricity generation, lead acid batteries play a crucial role in energy generation grids and substations. However, fluctuating raw material prices and the shift towards lithium-ion batteries present potential challenges to market growth.
Request Free Sample Copy (To Understand the Complete Structure of this Report [Summary + TOC]) @ https://www.emergenresearch.com/request-sample/2470
Product-wise, the Starting, Lighting, and Ignition (SLI) segment dominated the market in 2022. These batteries are essential for powering various applications in conventional combustion engine vehicles, such as cars and trucks. Their use is further expanding in high-power applications, including the automotive industry.
In terms of construction method, the Value Regulated Acid-Battery (VRLA) segment is expected to experience robust growth. This is driven by increasing demand from residential, commercial, and industrial sectors, as well as the growing adoption of solar photovoltaic (PV) systems for grid-scale power storage and renewable energy generation.
The automotive segment is anticipated to hold a substantial share of the market, primarily due to the automotive industry's demand and applications in sectors like railways. The presence of major automotive players contributes to the segment's growth.
Within the sales channels, the aftermarket segment is projected to register steady growth. This is attributed to the expanding use of aftermarket products in various applications, including motor vehicles and UPS systems, driven by the need for reliable and cost-effective power storage solutions.
Regionally, the Asia Pacific market secured the largest revenue share in 2022, fueled by the rising adoption of electric vehicles (EVs). The Chinese government's initiatives to reduce demand-supply gaps have played a vital role in this growth. In North America, the market is expected to experience the fastest revenue growth, thanks to surging demand in the automotive and railway industries.
Emergen Research is Offering Limited Time Discount (Grab a Copy at Discounted Price Now) @ https://www.emergenresearch.com/request-discount/2470
Scope of Research
Report Details | Outcome |
Market Size in 2022 | USD 47.08 Billion |
CAGR (2023–2032) | 4.3% |
Revenue Forecast To 2032 | USD 71.73 Billion |
Base Year For Estimation | 2022 |
Historical Data | 2019–2021 |
Forecast Period | 2023–2032 |
Quantitative Units | Revenue in USD Million and CAGR in % from 2023 to 2032 |
Report Coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
Segments Covered | Product, construction method, application, sales channel, and region |
Regional Scope | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
Country Scope | U.S., Canada, Mexico, Germany, France, UK, Italy, Spain, Benelux, Rest of Europe, China, India, Japan, South Korea, Rest of APAC, Brazil, Rest of LATAM, Saudi Arabia, UAE, South Africa, Turkey, and Rest of Middle East & Africa |
Key Companies Profiled | ENERSYS, C&D Technologies, Inc., East Penn Manufacturing Company, Johnson Controls, Crown Battery, NorthStar, Fujjain Quanzhou Dahua Battery Co., Ltd., leoch International Technology Limited Inc., Zibo Torch Energy Co., Ltd., Hitachi Ltd., and Chloride Batteries S E Asia Pte. Ltd. |
Customization Scope | 10 hours of free customization and expert consultation |
Major Companies and Competitive Landscape
The global lead acid battery market is fragmented, with large and medium-sized players accounting for the majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective products. Some of the major companies included in the global lead acid battery market report are:
- ENERSYS
- C&D Technologies, Inc.
- East Penn Manufacturing Company
- Johnson Controls
- Crown Battery
- NorthStar
- Fujjain Quanzhou Dahua Battery Co., Ltd.
- leoch International Technology Limited Inc.
- Zibo Torch Energy Co., Ltd.
- Hitachi Ltd.
- Chloride Batteries S E Asia Pte. Ltd.
Strategic Development
- On 11 January 2022, Recyclus, a company based in UK opened the first lead acid battery recycling plant in England. The Tipton facility is expected to increase Recyclu’s production capacity for recycling lead acid batteries from an estimated 16,000 tons in the first full year of production to approximately 80,000 tons by 2027.
- On 20 June 2021, ENERSYS announced that it invested over USD 100 million in new capital for the upcoming three years to grow its Thin Plate Pure Lead (TPPL) capacity. Both initiatives collectively upgraded TPPL capacity by over USD 500 million/year
Direct Order Can Be Placed Through This Link [Exclusive Copy] @ https://www.emergenresearch.com/select-license/2470
Segments Covered in Report
For the purpose of this report, Emergen Research has segmented the global lead acid battery market on the basis of product, construction method, application, sales channel, and region:
- Product Outlook (Revenue, USD Billion; 2019-2032)
- Starting, Lighting, and Ignition (SLI)
- Stationary
- Motive
- Construction Method Outlook (Revenue, USD Billion; 2019-2032)
- Flooded
- Valve Regulated Lead-Acid (VRLA)
- Absorbed Glass Mat (AGM) battery
- Gel Lead Acid Batteries
- Application Outlook (Revenue, USD Billion; 2019-2032)
- Automotive
- Uninterrupted Power Supply (UPS)
- Telecom
- Electric Bikes
- Transport Vehicles
- Others
- Sales Channel Outlook (Revenue, USD Billion; 2019-2032)
- Original Equipment Market (OEM)
- Aftermarket
- Others
- Regional Outlook (Revenue, USD Billion; 2019–2032)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Benelux
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Turkey
- Rest of Middle East & Africa
- North America
Browse Full Report Description + Research Methodology + Table of Content + Infographics@ https://www.emergenresearch.com/industry-report/lead-acid-battery-market
Curated Reports You Shouldn't Miss: Dive In Now!
Electric Vehicle Battery Market Size, Share, Trends, By Battery Type (Lead-acid, Lithium-ion, Others), By Vehicle Type (Commercial, Passenger), and By Propulsion (Plug-In Hybrid, Battery), Forecasts to 2027
Sustainable Packaging Market Size, Share, Trends, By Materials (Plastic, Paper & Paperboard, Glass, Metal), By Packaging Type, By End Users, Forecasts to 2027
Battery Materials Market Analysis By Battery Type (Lead-Acid, Lithium-Ion, Others), By Material Type (Metal & Metal Oxide, Other Chemical Compounds), By Application (Consumer Electronics, Automotive, Grid Storage, Others), By Region, Forecasts to 2027
Cathode Materials Market, By Battery Type (Lead Acid and Lithium-ion), By Material (Lead Dioxide, Lithium Manganese Oxide, Lithium Cobalt Oxide, Lithium Iron Phosphate, and Others), By Application, and By Region Forecast to 2030
Lithium Ion Battery Recycling Market, By Battery Chemistry (Lithium-Iron Phosphate, Lithium-Manganese Oxide, Lithium-Titanate Oxide, and Others), By Source, By Recycling Process, By End-Use, and By Region Forecast to 2030
About Emergen Research
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy.
Contact Us:
Eric Lee
Corporate Sales Specialist
Emergen Research | Web: https://www.emergenresearch.com/
Direct Line: +1 (604) 757-9756
E-mail: sales@emergenresearch.com
Explore Our Blogs and Insights Section: https://www.emergenresearch.com/insights