Lead Acid Battery Market Size
| Study Period | 2020 - 2029 |
| Market Size (2024) | USD 47.29 Billion |
| Market Size (2029) | USD 58.65 Billion |
| CAGR (2024 - 2029) | 4.40 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Asia-Pacific |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Lead Acid Battery Market Analysis
The Lead-acid Battery Market size is estimated at USD 47.29 billion in 2024, and is expected to reach USD 58.65 billion by 2029, growing at a CAGR of 4.40% during the forecast period (2024-2029).
Though COVID-19 negatively impacted the market in 2020, it has reached pre-pandemic levels.
- Over the medium term, the increasing sales of automobiles are expected to stimulate the growth of the lead-acid battery market.
- On the other hand, declining costs and increasing adoption of lithium-ion batteries are expected to hinder the growth of the market during the forecast period.
- The lead-acid battery market has witnessed several developments in technologies like AGM (Absorbed Glass Mat) batteries and EFB (Enhanced Flooded Battery) technology, which are expected to provide great opportunities for the market during the forecast period.
- Asia-Pacific is expected to dominate the lead-acid battery market, with most of the demand coming from China, Japan, and India.
Lead Acid Battery Market Trends
This section covers the major market trends shaping the Lead-acid Battery Market according to our research experts:
SLI Battery Segment to Dominate the Market
- SLI batteries are designed for automobiles and are always installed with the vehicle's charging system, which means there is a continuous cycle of charge and discharge in the battery whenever the vehicle is in use. The 12-volt batteries have been the most commonly used for over 50 years. However, their average voltage (while in use in the car and being charged by the alternator) is close to 14 volts.
- The SLI batteries segment held a 75.32% market share in 2021. Its share is expected to grow during the forecast period, owing to worldwide growth in the automotive sector. The growing demand from OEMs and aftermarkets has boosted the automotive sector.
- The major factors attributed to the growth of the SLI battery market are the increasing demand for these batteries to power start motors, lights, ignition systems, or other internal combustion engines while ensuring high performance, long life, and cost-efficiency.
- The lead-acid battery is the technology of choice for all SLI battery applications in conventional combustion engine vehicles, such as cars and trucks worldwide.
- According to the International Organization of Motor Vehicle Manufacturers (OICA), motor vehicle sales globally have been recovering after a downfall in 2020. In 2021, the world witnessed a 4.96% rise in motor vehicle sales compared to 2020.
- Although the conventional combustion engine market is expected to decline over the next 30-40 years, replacement car technologies are expected to continue using SLI-type lead-acid batteries to provide power for various electronics and safety features within the vehicle.
Asia-Pacific to Dominate the Market
- The Asia-Pacific is expected to dominate the lead-acid battery market, with most demand coming from China, Japan, and India.
- As of 2021, China is the largest electric vehicle market, selling around 3.3 million vehicles.
- The increasing adoption of electric vehicles aligns with the clean energy policy. The Chinese government plans to ease restrictions on automakers importing cars into the country to reduce the demand-supply gap. Currently, foreign automakers face a 25% import tariff or have to build a factory in China with a cap of 50% ownership. Electric vehicle makers are expected to be the first to benefit from this change.
- Moreover, in India, the growing automobile sector, the increasing number of solar power projects, and the continuous expansion of telecommunication infrastructure are expected to drive the demand for lead-acid batteries in the country.
- The telecom sector remains one of India's most promising end users for lead-acid battery use. The Indian telecommunication sector has registered strong growth over the past decade. For instance, according to the Telecom Regulatory Authority of India, the total wireless or mobile telephone subscriber base reached 1142.08 million in March 2022.
- However, the lead-acid battery market in India faces challenges from lithium-ion battery technology, which has led to an increased focus on research and development activities pertaining to lead-acid batteries. Manufacturers are being forced to offer high-quality, long-lasting batteries with low maintenance to sustain the competition from lithium-ion batteries.
Lead Acid Battery Industry Overview
The lead-acid battery market is fragmented. Some of the key players in this market (in no particular order) include Panasonic Corporation, GS Yuasa Corporation, EnerSys, East Penn Manufacturing Co., and Leoch International Technology Limited, among others.
Lead Acid Battery Market Leaders
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Panasonic Corporation
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GS Yuasa Corporation
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EnerSys
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East Penn Manufacturing Co.
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Leoch International Technology Limited
*Disclaimer: Major Players sorted in no particular order
Lead Acid Battery Market News
- October 2022: BAE USA's stationary lead-acid battery energy storage system got certified for the third edition of ANSI/CAN/UL 1973. A US testing, inspection, and certification company, UL Solutions, certified the ESS's capability.
- July 2022: Amara Raja Batteries (ARBL) announced plans to expand its lead-acid business with various options to expand geographically outside India. As a part of the expansion, the company focuses on expanding the lead-acid business, primarily in Africa, the Middle East, and South-East Asia.
Lead Acid Battery Market Report - Table of Contents
1. INTRODUCTION
1.1 Scope of the Study
1.2 Market Definition
1.3 Study Assumptions
2. EXECUTIVE SUMMARY
3. RESEARCH METHODOLOGY
4. MARKET OVERVIEW
4.1 Introduction
4.2 Market Size and Demand Forecast in USD billion, till 2027
4.3 Recent Trends and Developments
4.4 Government Policies and Regulations
4.5 Market Dynamics
4.5.1 Drivers
4.5.2 Restraints
4.6 Supply Chain Analysis
4.7 Porter's Five Forces Analysis
4.7.1 Bargaining Power of Suppliers
4.7.2 Bargaining Power of Consumers
4.7.3 Threat of New Entrants
4.7.4 Threat of Substitutes Products and Services
4.7.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Application
5.1.1 SLI (Starting, Lighting, Ignition) Batteries
5.1.2 Stationary Batteries (Telecom, UPS, Energy Storage Systems (ESS), etc.)
5.1.3 Portable Batteries (Consumer Electronics, etc.)
5.1.4 Other Applications
5.2 By Technology
5.2.1 Flooded
5.2.2 VRLA (Valve Regulated Lead-acid)
5.3 By Geography
5.3.1 North America
5.3.1.1 United States
5.3.1.2 Canada
5.3.1.3 Rest of North America
5.3.2 Europe
5.3.2.1 Germany
5.3.2.2 France
5.3.2.3 Italy
5.3.2.4 United Kingdom
5.3.2.5 Russian Federation
5.3.2.6 Rest of Europe
5.3.3 Asia-Pacific
5.3.3.1 China
5.3.3.2 India
5.3.3.3 Japan
5.3.3.4 South Korea
5.3.3.5 Rest of Asia-Pacific
5.3.4 Middle East and Africa
5.3.4.1 Saudi Arabia
5.3.4.2 United Arab Emirates
5.3.4.3 South Africa
5.3.4.4 Rest of Middle East and Africa
5.3.5 South America
5.3.5.1 Brazil
5.3.5.2 Argentina
5.3.5.3 Rest of South America
6. COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Strategies Adopted by Leading Players
6.3 Company Profiles
6.3.1 Johnson Controls International PLC
6.3.2 Exide Technologies Inc.
6.3.3 GS Yuasa Corporation
6.3.4 EnerSys
6.3.5 East Penn Manufacturing Co.
6.3.6 C&D Technologies Inc.
6.3.7 Amara Raja Batteries Ltd
6.3.8 Leoch International Technology Limited
6.3.9 Panasonic Corporation
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Lead Acid Battery Industry Segmentation
The lead-acid battery is a rechargeable battery that consists of two electrodes submerged in an electrolyte of sulfuric acid. The positive electrode is made of grains of metallic lead oxide, while the negative electrode is attached to a grid of metallic lead.
The lead-acid battery market is segmented by application (SLI (starting, lighting, and ignition) batteries, stationary batteries (telecom, UPS, energy storage systems (ESS), etc.), portable batteries (consumer electronics, etc.), other applications), technology (flooded, valve regulated lead-acid battery), and geography (North America, Europe, Rest of the World). The report offers the market size and forecasts in terms of revenue in USD billion for all the above segments.
| By Application | |
| SLI (Starting, Lighting, Ignition) Batteries | |
| Stationary Batteries (Telecom, UPS, Energy Storage Systems (ESS), etc.) | |
| Portable Batteries (Consumer Electronics, etc.) | |
| Other Applications |
| By Technology | |
| Flooded | |
| VRLA (Valve Regulated Lead-acid) |
| By Geography | ||||||||
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Lead Acid Battery Market Research FAQs
How big is the Lead-acid Battery Market?
The Lead-acid Battery Market size is expected to reach USD 47.29 billion in 2024 and grow at a CAGR of 4.40% to reach USD 58.65 billion by 2029.
What is the current Lead-acid Battery Market size?
In 2024, the Lead-acid Battery Market size is expected to reach USD 47.29 billion.
Who are the key players in Lead-acid Battery Market?
Panasonic Corporation , GS Yuasa Corporation , EnerSys, East Penn Manufacturing Co. and Leoch International Technology Limited are the major companies operating in the Lead-acid Battery Market.
Which is the fastest growing region in Lead-acid Battery Market?
Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Lead-acid Battery Market?
In 2024, the Asia-Pacific accounts for the largest market share in Lead-acid Battery Market.
What years does this Lead-acid Battery Market cover, and what was the market size in 2023?
In 2023, the Lead-acid Battery Market size was estimated at USD 45.30 billion. The report covers the Lead-acid Battery Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the Lead-acid Battery Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
What are the main application segments coverd in the Lead Acid Batteries Market Report?
The main application segments coverd in the Lead Acid Batteries Market Report include a) Automotive: for starting, lighting, and ignition b) Telecommunications: for backup power c) Uninterrupted Power Supply (UPS) systems d) Renewable energy storage and industrial equipment.
Lead Acid Battery Industry Report
The global lead acid battery market is undergoing significant growth, driven by technological advancements and increasing demand across various sectors such as transportation, utilities, industrial, and commercial applications. Notably, the expansion in the telecom and data center sectors is spurred by the need for reliable backup power solutions. Lead acid battery manufacturers are enhancing their product offerings to meet these diverse industry needs. Additionally, the market benefits from the rising demand for renewable energy sources, necessitating efficient energy storage solutions. Despite competition from alternative technologies, lead acid batteries are preferred for their cost-effectiveness and established recycling processes.
The market is segmented by type into flooded and valve-regulated lead acid batteries, each catering to specific performance and maintenance needs. Overall, the lead acid battery market is set for continued growth, playing a crucial role in both traditional and emerging industries. The growth rate of the market is influenced by various factors, including industry trends and market predictions. The industry outlook remains positive, with market leaders focusing on innovation and efficiency.
Industry reports highlight the market size and market share of lead acid batteries, providing valuable industry information and industry statistics. Market trends indicate a steady increase in demand, supported by market data and market forecast. The market overview and market segmentation reveal the diverse applications and technologies driving the market growth. Market value is expected to rise, reflecting the increasing adoption of lead acid batteries in various sectors.
For detailed industry analysis, access a report example or report pdf from research companies. The market review emphasizes the importance of lead acid batteries in energy storage systems and other applications. Industry sales are projected to grow, supported by the robust market outlook and market growth. The industry size is expanding, with more companies entering the market to capitalize on the rising demand.
In summary, the global lead acid battery market is poised for continued expansion, driven by technological advancements, increasing demand, and a positive industry outlook. The industry research underscores the significance of lead acid batteries in the current and future energy landscape.
