Global Lead Acid Battery Market - Size, Share, Growth, Trends, and Outlook to 2028

Global Lead Acid Battery Market - Size, Share, Growth, Trends, and Outlook to 2028

The global lead acid battery market has been expanding rapidly due to increased demand for energy storage solutions in various end-use industries including SLI batteries in automotives, stationary industrial, and energy storage. For more than a century, lead acid batteries have been the dominant battery technology, and they are still widely utilized due to their low cost, reliability, and longevity. The lead acid battery market is predicted to increase significantly during the forecast period, driven by the following factors:

Drivers

Rising Demand for Automobiles

The expanding automobile industry has increased demand for lead acid batteries, which are extensively used in vehicles for starting, lighting, and ignition (SLI) applications. Lead acid batteries are preferred for SLI applications due to their inexpensive cost, durability, and ability to generate rapid bursts of power.

The need for lead acid batteries is expected to rise further as the vehicle industry expands, particularly in emerging nations. This is due to the fact that many automobiles in these areas are older models that require replacement batteries, and the market for new vehicles is also fast rising. Furthermore, the growing popularity of hybrid and electric vehicles is likely to boost demand for lead acid batteries, as these vehicles frequently require auxiliary lead-acid batteries for features such as power steering and air conditioning.

The global Electric Vehicle (EV) sales during the forecast period. The global EV market share has been growing at an impressive pace from 0.2% in 2013 to 13% in 2021. Worldwide EV sales have remained high. In 2022, a total of 10.5 million new BEVs and PHEVs were delivered, representing a +55% increase over 2021.

The rising environmental concerns and an immediate need to reduce the emissions from the transportation sector have pushed several governments to extend fiscal incentives to EV manufacturers and tax deductions to consumers on the sale and purchase of electric vehicles (EVs), coupled with factors such as decreasing price of batteries and technological advancements in the electric vehicles and its charging infrastructure are driving the global electric vehicle market.

Some of the Other Drivers:

Expanding infrastructure of data centers and telecommunication are driving the lead-acid battery market.

Increasing investments in electric vehicles and growing manufacturing activities in emerging economies boost lead-acid battery sales.

Increasing aftermarket sales in UPS and transportation are driving the market for lead-acid batteries.

However, the strict environmental regulations imposed by various governments around the world, and the increasing competition from alternative battery markets, such as lithium ion batteries market, pose a challenge to the lead acid battery market.

Lead-acid batteries are rechargeable batteries that use sponge lead and lead peroxide to convert chemical energy into electrical power. Such a type of battery is called a lead-acid battery.

A lead cell is made from three essential components: the cathode, anode, and electrolyte; where the cathode is the positive terminal, the anode is the negative terminal, and the electrolyte connects both these terminals to drive an electrochemical reaction to produce electricity.

Lead-acid batteries find wide usage in automobiles as it delivers high power to start the engine. The Lead-acid batteries used in forklifts, golf carts, and industrial cleaners. High use of lead-acid batteries in forklifts for low cost, reliability, and a well-established product supply chain is likely to positively influence the market. The lead-acid battery is widely used in automobiles The superior, quality, safety, and recycling process of these batteries are anticipated to increase the market growth over the forecast period.

Lead–acid batteries are classified into two types: flooded batteries and valve-regulated batteries.

Flooded lead acid batteries

Flooded lead-acid batteries, also known as wet-cell batteries, have a liquid electrolyte that flows freely within the battery shell. The liquid electrolyte is commonly a dilute sulfuric acid solution. Flooded lead-acid batteries are noted for their large capacity and low cost, making them excellent for use in high-power applications such as forklifts, electric vehicles, and renewable energy systems.

Nevertheless, flooded lead-acid batteries require periodic maintenance, such as adding distilled water to maintain the electrolyte level and keep the plates from being exposed to air, which can damage the battery.

Valve regulated lead acid batteries

Valve regulated lead-acid (VRLA) batteries, also known as sealed lead-acid batteries, are constructed similarly to flooded lead-acid batteries but feature a sealed shell that prevents electrolyte spillage. These batteries require no maintenance, making them perfect for applications where maintenance is difficult to obtain, such as emergency lighting, alarm systems, and backup stationary batteries. Because there is no water loss through evaporation, VRLA batteries have a longer lifespan than flooded lead-acid batteries.

Advantages of Lead Acid Batteries

Low-cost and simple manufacture Low cost per watt-hour

High specific power.

capable of high discharge currents

Good performance at low and high temperatures

No block-wise or cell-wise Battery Management Systems (BMS) required

Disadvantages of Lead Acid Batteries

Low specific energy; poor weight-to-energy ratio

Slow charging: Fully saturated charge takes 14–16 hours. Need for storage in charged condition to prevent sulfation Limited cycle life; repeated deep-cycling reduces battery life Watering requirement for flooded type.

Transportation restrictions for the flooded type

Adverse environmental impact

Lead Acid Battery Market Opportunities

lead-acid batteries are extremely common in the telecommunications industry for power backup application. As a result of the recent developments in the sector due to the advent of 5G, which requires more telecom towers relative to its predecessor technology (4G), lead-acid battery manufacturers have the chance to create battery solutions that are more technologically advanced and energy-efficient to provide backup power to the towers.

Due to their dependability and relatively low price, lead-acid batteries are frequently used in applications that need the storage of renewable energy sources like solar and wind power. Lead-acid battery producers stand to benefit from the widespread use of renewable energy sources, which is driving up demand for efficient methods of energy storage and providing the industry with a new market opportunity.

Lead-acid batteries are highly recyclable, and there is an opportunity for manufacturers to expand their business, since lead is a valuable material that can be recycled and used in the manufacturing of new batteries, recycling used batteries can also be a lucrative business opportunity.

Recent Developments

In Feb 2023, Monbat, a Bulgarian lead acid battery manufacturer, announced the signing of a memorandum of understanding between its Italian subsidiary STC and the US-Singaporean ACE Green Recycling to investigate the development of battery recycling facilities and equipment supply.

Amara Raja Batteries announced plans to invest USD one billion over the next five to seven years in capex for a 10 to 12 Gigawatt hours (Lithium ion battery) facility under the government of India's ACC(Advanced Chemical Cell) PLI (Production Linked Incentives) Program.

Regional Market Analysis

Asia-Pacific is expected to be the leading region in the lead acid battery market during the forecast period, followed by Europe, North America, the Middle East, and South America.

Asia Pacific

The Asia Pacific is expected to be the largest region for Lead Acid batteries during the forecast period. With the rising demand for automobiles, growing telecom industry, Data Centres, and renewable energy generation lead acid batteries demand is expected to rise, especially in China and India, and Southeast Asia, such as Thailand, the Philippines, Indonesia, and Malaysia.

The Asia Pacific region has countries that have both developing and established energy storage systems markets. For instance, countries such as China, India, South Korea, Japan, Australia, and others have an established lead battery market.

Segment Analysis

Flooded lead acid batteries have been traditionally used in applications such as automobiles, industrial machinery, and backup power systems. On the other hand, in recent years there has been a shift away from conventional lead acid batteries and toward sealed lead acid batteries due to the higher performance of these batteries as well as their operation without the need for maintenance. When compared to the flooded lead acid battery market, it is anticipated that the sealed lead acid battery market will have a faster pace of growth.

The new report from Blackridge Research on the Global Lead Acid Battery Market provides comprehensive qualitative and quantitative analyses along with a deep insight into the current and future of the market.

What do we Cover in the Report?

Lead Acid Battery Market Drivers & Restraints

The study covers all the major underlying market dynamics that help the market develop and grow and the factors that constrain global market growth.

The report includes a meticulous analysis of each factor, explaining the relevant, qualitative information with supporting data.

Each factor's respective impact in the near, medium and long term will be covered using Harvey balls for visual communication of qualitative information and functions as a guide for you to analyse the degree of impact.

Lead Acid Battery Market Analysis

This market research report discusses the overview of the market, latest updates, important commercial developments and structural trends, and government policies and regulations.

This section also provides an assessment of COVID-19 impact on lead acid battery market demand.

Lead Acid Battery Market Size and Demand Forecast

The report provides the Global Lead Acid Battery Market size and demand forecast until 2028.

Lead Acid Battery Market Industry Analysis

The report examines the critical elements of the lead acid battery industry supply chain, its structure, and the participants.

Using Porter's five forces framework, the report covers the assessment of the lead acid battery industry's state of competition and profitability.

Lead Acid Battery Market Segmentation & Forecast

The report dissects the Global Lead Acid Battery Market into various segments on battery type (Flooded Battery, Valve Regulated Sealed Battery). A detailed summary of the current scenario, recent developments, and market outlook will be provided for each market segment.

Further, market share, size, and demand forecasts will be presented, along with various drivers and barriers for individual market segments.

Effective market segmentation enables you to identify emerging trends and opportunities for long-term growth. Contact us for a "bespoke" market segmentation to better align the research report with your requirements.

Regional Market Analysis

The report covers detailed profiles of major countries across the world. Each country's analysis covers the current market scenario, market drivers, government policies & regulations, and market outlook.

In addition, market size, demand forecast, and growth rates will be provided for all regions. Following are the notable countries covered under each region.

North America - United States, Canada, Mexico, and Rest of North America

Europe - Germany, France, United Kingdom (UK), and the Rest of Europe

Asia-Pacific - China, India, Japan, South Korea, Rest of APAC

Rest of the world - Middle East, South America, South Africa, and other African countries.

Key Company Profiles

This report presents detailed profiles of Key companies in the lead acid battery industry such as Panasonic Corporation, GS Yuasa Corporation, Amara Raja Batteries Ltd., Exide Industries Ltd, crown battery corporation, etc. In general, each company profile includes - an overview of the company, relevant product portfolio and services, a financial overview, business strategy, and recent developments.

Competitive Landscape

The report provides a comprehensive list of notable companies in the market, including mergers and acquisitions (M&As), joint ventures (JVs), partnerships, collaborations, and other business agreements.

The study also discusses the strategies adopted by leading players in the industry.

Executive Summary

The Executive Summary will be jam-packed with charts, infographics, and forecasts. This chapter summarizes the findings of the report crisply and clearly.

The report begins with an executive summary chapter and ends with Conclusions and Recommendations.
This product will be delivered within 5-7 business days.