Dublin, May 28, 2024 (GLOBE NEWSWIRE) -- The "Global Lead-Acid Battery Market, By Type; By Application; By Region - Market Size, Industry Dynamics, Opportunity Analysis and Forecast 2024-2030" report has been added to ResearchAndMarkets.com's offering.
The global market for Lead-Acid Batteries, a critical component in various applications from automotive to energy storage, has been experiencing significant growth. In 2023, the market was valued at approximately US$49.3 billion and is projected to reach a valuation of around US$77.88 billion by 2030.
The Lead-Acid Battery market's expansion is primarily driven by the competitive pricing of these batteries, making them an attractive energy storage solution across a myriad of applications. This cost-effectiveness positions Lead-Acid Batteries as a favored choice, fueling the market's growth momentum. Specifically, in the realm of off-grid solar systems, lead-acid batteries are often the go-to option for energy storage, primarily due to their lower upfront costs when compared to alternative technologies such as lithium-ion batteries. This financial advantage has enabled companies like Trojan Battery to tap into the market demand effectively, by offering robust lead-acid battery solutions at compelling price points.
Moreover, the utility of lead-acid batteries extends beyond just solar energy storage, into critical roles such as providing backup power for telecommunications infrastructure. This application underscores the batteries' value proposition, blending reliability with cost-efficiency. Exide Technologies exemplifies this by supplying economical lead-acid battery options to telecommunications companies. These companies rely on dependable energy storage solutions to ensure their services remain uninterrupted, highlighting the essential role lead-acid batteries play in maintaining operational continuity in the telecom sector. The affordability of lead-acid batteries, coupled with their reliability, has cemented their position in various sectors, not limited to renewable energy storage and telecommunications. Their application in automotive, industrial machinery, and emergency power systems further illustrates the versatile utility and market demand for these batteries.
The ongoing preference for lead-acid batteries in these diverse applications is largely attributed to their proven track record, ease of recycling, and the established infrastructure for their production and disposal. However, the emergence of low-cost alternatives in the energy storage space poses a potential challenge, potentially limiting market growth.
Market Segmentation Insights
On the basis of Type, the Flooded Battery category emerged as the leading segment within the Lead-Acid Battery market, securing a commanding 65.58% share in the year 2023. This segment's predominant position is largely due to its proven reliability and long-standing reputation in the market. On the other hand, the VRLA (Valve-Regulated Lead-Acid) Battery segment is on track to witness the most significant growth, with an anticipated CAGR of 7.29%. The growth momentum of the VRLA segment is fuelled by its appeal as a maintenance-free option, coupled with its increasing utilization across a broad range of applications. The shift towards VRLA batteries is especially noticeable in sectors where the convenience of not having to regularly check and maintain fluid levels offers a distinct advantage, such as in telecommunications backup power, emergency lighting, and portable electric devices. This transition underscores a market trend towards solutions that offer both reliability and ease of use, positioning the VRLA segment for substantial expansion in the coming years.
Based on Application, the Automotive Starters category asserted its dominance, securing a market share of 61.29% in the year 2023. This significant market share is a testament to the widespread application of Lead-Acid Batteries in the automotive sector, highlighting their critical role in starting vehicle engines. Meanwhile, the category encompassing Forklifts & other Vehicles is forecasted to emerge as the fastest-growing segment, with a CAGR of 8.82%. This anticipated growth is primarily driven by the escalating demand for electric and hybrid vehicles, which rely heavily on Lead-Acid Batteries for power. The increasing shift towards electric mobility, particularly in industrial and logistics vehicles like forklifts, underlines the growing reliance on Lead-Acid Batteries. As the automotive industry continues to evolve towards more sustainable and energy-efficient solutions, the role of Lead-Acid Batteries in powering a diverse range of vehicles, especially in electric and hybrid models, is set to expand, reflecting the segment's expanding market potential.
The Lead-Acid Battery market spans across several key regions globally, including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Dominating the market, the Asia Pacific region commands a substantial share of 48.01% as of 2023. This region is poised for the most rapid growth, expecting a CAGR of 7.51%. This forecasted growth is largely due to the swift pace of industrial development and the escalating demand throughout these countries. This trend include the expansion of automotive manufacturing in countries like China and India, along with significant investments in renewable energy projects across the region, which increasingly incorporate lead-acid batteries for energy storage solutions. These factors collectively underscore Asia Pacific's pivotal role in driving the global Lead-Acid Battery market's expansion.
Competitive Landscape
The competitive landscape of the Lead-Acid Battery market is characterized by the presence of numerous prominent players driving growth. Key players include Clarios, Exide Technologies, CSB Energy Technology, GS Yuasa, EnerSys, East Penn, Fiamm, Sebang, Hankook AtlasBX, Amara Raja, and C&D Technologies. Additionally, First National Battery and Tianneng Holding Group are also significant contributors to the market.
These companies collectively account for approximately 35-40% of the market share, indicating robust competition within the sector. Furthermore, many players are actively engaged in research and development activities, partnerships, and collaborations to enhance their market presence and offerings.
For instance, Amara Raja Batteries announced a strategic 'Energy & Mobility' initiative in June 2021, aiming to drive growth in core sectors and expand into new energy opportunities. This initiative includes the expansion of the Lead-Acid Batteries business and the establishment of a New Energy Strategic Business Unit (SBU) focusing on Lithium cells, battery packs, EV chargers, Energy Storage Systems, Advanced Home Energy Solutions, and related products and services.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 214 |
| Forecast Period | 2023-2030 |
| Estimated Market Value (USD) in 2023 | $49.3 Billion |
| Forecasted Market Value (USD) by 2030 | $77.88 Billion |
| Compound Annual Growth Rate | 6.9% |
| Regions Covered | Global |
Key Topics Covered
Chapter 1. Research Framework
1.1. Research Objective
1.2. Product Overview
1.3. Market Segmentation
Chapter 2. Research Methodology
2.1. Qualitative Research
2.1.1. Primary & Secondary Sources
2.2. Quantitative Research
2.2.1. Primary & Secondary Sources
2.3. Breakdown of Primary Research Respondents, By Region
2.4. Assumption for the Study
2.5. Market Size Estimation
2.6. Data Triangulation
Chapter 3. Executive Summary: Global Lead-Acid Battery Market
Chapter 4. Global Lead-Acid Battery Market Overview
4.1. Industry Value Chain Analysis
4.1.1. Raw Material Provider
4.1.2. Manufacturer
4.1.3. Distributor
4.1.4. End User
4.2. Industry Outlook
4.3. PESTLE Analysis
4.4. Porter's Five Forces Analysis
4.4.1. Bargaining Power of Suppliers
4.4.2. Bargaining Power of Buyers
4.4.3. Threat of Substitutes
4.4.4. Threat of New Entrants
4.4.5. Degree of Competition
4.5. Market Dynamics and Trends
4.5.1. Growth Drivers
4.5.2. Restraints
4.5.3. Challenges
4.5.4. Key Trends
4.6. COVID-19 Impact Assessment on Market Growth Trend
4.7. Market Growth and Outlook
4.7.1. Market Revenue Estimates and Forecast (US$ Bn), 2019-2032
4.7.2. Price Trend Analysis
4.8. Competition Dashboard
4.8.1. Market Concentration Rate
4.8.2. Company Market Share Analysis (Value %), 2023
4.8.3. Competitor Mapping & Benchmarking
Chapter 5. Global Lead-Acid Battery Market Analysis, By Type
5.1. Key Insights
5.2. Market Size and Forecast, 2017-2030 (US$ Bn)
5.2.1. VRLA Battery
5.2.2. Flooded Battery
Chapter 6. Global Lead-Acid Battery Market Analysis, By Application
6.1. Key Insights
6.2. Market Size and Forecast, 2017-2030 (US$ Bn)
6.2.1. Automotive Starter
6.2.2. Motorcycles & Electric Bikes
6.2.3. Forklifts & other Vehicles
6.2.4. Communication Industry
6.2.5. UPS
6.2.6. Others
Chapter 7. Global Lead-Acid Battery Market Analysis, By Region
7.1. Key Insights
7.2. Market Size and Forecast, 2017-2030 (US$ Bn)
7.2.1. North America
7.2.1.1. United States
7.2.1.2. Mexico
7.2.1.3. Canada
7.2.2. Europe
7.2.2.1. UK
7.2.2.2. Germany
7.2.2.3. France
7.2.2.4. Italy
7.2.2.5. Russia
7.2.2.6. Rest of Europe
7.2.3. Asia Pacific
7.2.3.1. China
7.2.3.2. India
7.2.3.3. Japan
7.2.3.4. Australia
7.2.3.5. Southeast Asia
7.2.3.6. South Korea
7.2.3.7. Rest of Asia Pacific
7.2.4. Latin America
7.2.4.1. Brazil
7.2.4.2. Argentina
7.2.4.3. Rest of Latin America
7.2.5. Middle East and Africa
7.2.5.1. GCC
7.2.5.2. Egypt
7.2.5.3. South Africa
7.2.5.4. Israel
7.2.5.5. Turkey
7.2.6. Rest of MEA
Chapter 8. North America Lead-Acid Battery Market Analysis
Chapter 9. Europe Lead-Acid Battery Market Analysis
Chapter 10. Asia Pacific Lead-Acid Battery Market Analysis
Chapter 11. Middle East and Africa Lead-Acid Battery Market Analysis
Chapter 12. South America Lead-Acid Battery Market Analysis
Chapter 13. Company Profiles
(Company Overview, Financial Matrix, Key Product landscape, Key Personnel, Key Competitors, Contact Address, and Business Strategy Outlook)
13.1. Clarios
13.2. Exide Technologies
13.3. CSB Energy Technology
13.4. Yuasa
13.5. EnerSys
13.6. East Penn Manufacturing
13.7. Fiamm
13.8. Sebang
13.9. Hankook AtlasBX
13.10. Amara Raja
13.11. C&D Technologies
13.12. Midac Batteries
13.13. ACDelco
13.14. Banner batteries
13.15. First National Battery
13.16. Chilwee
13.17. Tianneng Holding Group
13.18. Shuangdeng Group (Shoto)
13.19. Camel Group
13.20. Fengfan
13.21. Leoch
13.22. Narada Power
13.23. Sacred Sun Power Sources
13.24. Coslight Technology
13.25. Other Prominent Players
For more information about this report visit https://www.researchandmarkets.com/r/28n74o
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