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Lead-acid Battery Market Size (2024 - 2029)

The lead-acid battery market is projected to experience growth over the forecast period, driven by increasing automobile sales. Despite challenges posed by the declining costs and rising adoption of lithium-ion batteries, advancements in technologies such as AGM and EFB are anticipated to offer significant opportunities for market expansion. The Asia-Pacific region is expected to lead in market dominance, with substantial demand originating from countries like China, Japan, and India.

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Market Size of Lead-acid Battery Industry

Lead-acid Battery Market Summary
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

Lead-acid Battery Market 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 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
North America
United States
Canada
Rest of North America
Europe
Germany
France
Italy
United Kingdom
Russian Federation
Rest of Europe
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
Middle East and Africa
Saudi Arabia
United Arab Emirates
South Africa
Rest of Middle East and Africa
South America
Brazil
Argentina
Rest of South America
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Lead-acid Battery Market Size Summary

The lead-acid battery market is poised for steady growth over the forecast period, driven primarily by the increasing sales of automobiles. Despite the initial setbacks caused by the COVID-19 pandemic, the market has rebounded to pre-pandemic levels. The market is characterized by advancements in technologies such as AGM and EFB batteries, which are expected to create significant opportunities. However, the market faces challenges from the declining costs and rising adoption of lithium-ion batteries, which could impede growth. The Asia-Pacific region is anticipated to lead the market, with substantial demand originating from countries like China, Japan, and India. The SLI battery segment, crucial for automotive applications, is expected to maintain a dominant market share due to its integral role in powering various vehicle systems.

In the automotive sector, the lead-acid battery remains the preferred choice for SLI applications in conventional combustion engine vehicles, despite the anticipated decline of this market over the long term. The global recovery in motor vehicle sales post-2020 has bolstered the demand for these batteries. In India, the expanding automobile sector, along with the growth of solar power projects and telecommunication infrastructure, is expected to drive demand. However, the market in India is also witnessing competition from lithium-ion technology, prompting manufacturers to innovate and enhance the quality and longevity of lead-acid batteries. The market is fragmented, with key players like Panasonic Corporation, GS Yuasa Corporation, and EnerSys actively participating in strategic expansions and technological advancements to maintain their competitive edge.

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Lead-acid Battery Market Size - Table of Contents

  1. 1. MARKET OVERVIEW

    1. 1.1 Introduction

    2. 1.2 Market Size and Demand Forecast in USD billion, till 2027

    3. 1.3 Recent Trends and Developments

    4. 1.4 Government Policies and Regulations

    5. 1.5 Market Dynamics

      1. 1.5.1 Drivers

      2. 1.5.2 Restraints

    6. 1.6 Supply Chain Analysis

    7. 1.7 Porter's Five Forces Analysis

      1. 1.7.1 Bargaining Power of Suppliers

      2. 1.7.2 Bargaining Power of Consumers

      3. 1.7.3 Threat of New Entrants

      4. 1.7.4 Threat of Substitutes Products and Services

      5. 1.7.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 By Application

      1. 2.1.1 SLI (Starting, Lighting, Ignition) Batteries

      2. 2.1.2 Stationary Batteries (Telecom, UPS, Energy Storage Systems (ESS), etc.)

      3. 2.1.3 Portable Batteries (Consumer Electronics, etc.)

      4. 2.1.4 Other Applications

    2. 2.2 By Technology

      1. 2.2.1 Flooded

      2. 2.2.2 VRLA (Valve Regulated Lead-acid)

    3. 2.3 By Geography

      1. 2.3.1 North America

        1. 2.3.1.1 United States

        2. 2.3.1.2 Canada

        3. 2.3.1.3 Rest of North America

      2. 2.3.2 Europe

        1. 2.3.2.1 Germany

        2. 2.3.2.2 France

        3. 2.3.2.3 Italy

        4. 2.3.2.4 United Kingdom

        5. 2.3.2.5 Russian Federation

        6. 2.3.2.6 Rest of Europe

      3. 2.3.3 Asia-Pacific

        1. 2.3.3.1 China

        2. 2.3.3.2 India

        3. 2.3.3.3 Japan

        4. 2.3.3.4 South Korea

        5. 2.3.3.5 Rest of Asia-Pacific

      4. 2.3.4 Middle East and Africa

        1. 2.3.4.1 Saudi Arabia

        2. 2.3.4.2 United Arab Emirates

        3. 2.3.4.3 South Africa

        4. 2.3.4.4 Rest of Middle East and Africa

      5. 2.3.5 South America

        1. 2.3.5.1 Brazil

        2. 2.3.5.2 Argentina

        3. 2.3.5.3 Rest of South America

Lead-acid Battery Market Size FAQs

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.

In 2024, the Lead-acid Battery Market size is expected to reach USD 47.29 billion.

Lead Acid Battery Market Report Snapshots

Lead Acid Battery Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)