Global Lead-acid Battery Market Research and Forecast, 2022-2028

Global Lead-Acid Battery Market Size, Share & Trends Analysis Report by Type (flooded lead-acid batteries, sealed lead-acid batteries, AGM lead-acid batteries, Gel Sealed Lead Acid Batteries, and Others), By End-user (Automotive, Industrial, and Others) Forecast 2022-2028

The global Lead-acid Battery Market is anticipated to grow at a CAGR of around 5.1% during the forecast period. A lead-acid battery is a type of energy storage system that is widely used in the automotive, energy storage, and telecommunications industries, as well as in utilities, marine, manufacturing, and the chemical and pharmaceutical industries. The lead acid battery is commonly used as these batteries are often more cost-effective and are preferred for SLI (starting, lighting, and ignition) applications in internal combustion vehicles. The factors attributing to the growth of the market include increasing SLI applications in automotive industries, rising demand for energy storage devices, and growing renewable energy production. Other factors such as developing the telecom industry in countries including the US, UK, Brazil, India would increase their demand for UPS systems as power backups, therefore this will foster the significant growth of the lead acid batteries market.

Furthermore, since the life of a lead-acid battery is shorter than that of the car, new installations are needed every 3-5 years, which further affect the adoption in the automotive application and further restricting the market growth. Additionally, Environmental concerns regarding lead-acid batteries, such as the risk of explosion, the size of the battery, and its weight, are among the few restraints on market development. Since, the use of lead-acid batteries in solar street lights, and the rise in energy storage systems all provide ample opportunities for the global lead-acid battery market during the forecast period.

Segmental Outlook

The global lead acid battery market is segmented based on type and end-users. Based on type, the market is further segmented into flooded lead-acid batteries, sealed lead-acid batteries, AGM lead-acid batteries, gel sealed lead acid batteries, and others. Based on the end-user segment, the market is categorized into automotive, industrial, and others.

Global Lead Acid Battery Market Share by Type, 2020 (%)

Global Lead Acid Battery Market Share by Type

The flooded lead-acid battery is estimated to be the fastest-growing segment in the global lead acid battery market

The flooded lead-acid battery is projected to grow at the highest CAGR during the forecast period due to the increased demand for marine applications such as submarines. As compared to other lead-acid batteries, flooded lead-acid batteries have a higher effective power output, are more cost-effective, and have longer battery life. As a result of the benefits provided by the flooded lead-acid battery, the segmental growth is projected to increase during the forecast period. A flooded battery with lead-acid chemistry is the most popular in the industry that is also known as a valve operated battery. The flood lead-acid batteries last up to 8 years however, some manufacturers determine a battery's lifetime based on the number of cycles it has completed rather than the number of years it has been in use.

Regional Outlooks

The global lead-acid battery market is further segmented based on geography including North America, Europe, Asia-Pacific, and the Rest of the World. The European market is projected to grow significantly during the forecasted period due to widespread automobile production in countries such as Germany, Italy, Sweden, and UK. Moreover, the presence of major automotive manufacturers such as Jaguar, Volkswagen, Volvo, Audi, BMW, Mercedes-Benz, and Fiat further provides a significant opportunity for market growth in the region.

Global Lead-Acid Battery Market Growth, by Region 2022-2028

Global Lead-Acid Battery Market Growth, by Region

Asia-Pacific is projected to dominate the global lead acid battery market

Geographically, Asia-Pacific is projected to dominate the global lead acid battery market. The dominance mainly attributed to increasing demand for energy storage systems and rising demand for renewable energy, as well as favourable government funding for the production of solar and wind energy. The major countries in the region include India, Japan, China, and others. The growing car, motorcycle, electric bike (e-bike), telecommunications, and photovoltaic solar industries in China are driving the demand for lead batteries. Furthermore, India's rising automotive industry, a growing number of solar power projects, and ongoing telecommunication infrastructure expansion are expected to boost demand for lead acid batteries in the region

Market Players Outlook

The key players of the lead acid battery market include Hankook & Company Co., Ltd., Banner GmbH, B.B. Battery, C&D Technologies Inc., Chaowei Power Holdings Ltd., East Penn Manufacturing Co., EnerSys, Panasonic Corp., and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers, and acquisitions, collaborations, and new product launches, to stay competitive in the market. For instance, in November 2018, C&D Technologies announced the acquisition of the Trojan Battery company. This acquisition combined two battery manufacturers with complementary product portfolios that resulted in creating one of the largest storage providers with over $1 billion revenue, 8 manufacturing facilities, and expand its presence in all major regions.

The Report Covers

• Market value data analysis of 2020 and forecast to 2027.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global Lead-acid Battery market
• Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market-entry and market expansion strategies.
• Competitive strategies by identifying 'who-stands-where in the market.