The Global Automotive Lead Acid Battery Market Size is valued at 26.57 billion in 2022 and is predicted to reach 39.84 billion by the year 2031 at a 4.78% CAGR during the forecast period for 2023-2031.
The automotive lead-acid battery market is a mature market that has existed for many decades. Lead-acid batteries have been widely used as a power source in vehicles due to their low-cost, high-energy density, and reliable performance. The market has been growing in recent years due to the elevated demand for electric vehicles and the requirement for backup power supplies in vehicles. Factors driving growth in the market include increasing production and sales of vehicles, growing demand for electric vehicles, and increasing use of lead-acid batteries as backup power sources.
The increasing popularity of electric vehicles is a major driver of growth, as these vehicles require large, high-capacity batteries to store energy. The automotive lead-acid battery market growth is also expected to be pushed by the increasing demand for backup power supplies in vehicles, which provide an emergency power source in case of a dead battery or another power failure.
However, the market is facing certain challenges, such as the competition from alternative battery technologies, such as lithium-ion batteries, which offer higher energy density and longer lifespan compared to lead-acid batteries. Additionally, the toxic nature of lead and sulfuric acid used in the manufacturing process of lead-acid batteries is also a challenge for the market.
Competitive Landscape:
Some of the automotive lead acid battery market players are:
- C&D Technologies Inc.
- Clarios
- CSB Energy Technology Co.
- East Penn Manufacturing Company
- EnerSys Inc.
- Exide Industries Ltd.
- FIAMM Energy Technology S.p.A.
- General Motors Company
- GS Yuasa Corporation
- Johnson Controls Inc.
- Koyo Battery Co., Ltd.
- Leoch International Technology Ltd
- Middle East Battery Company
- Northstar Battery Company LLC.
- Panasonic Corporation
- PT Century Batteries Indonesia
- Reem Batteries & Power Appliances Co. Saoc
- Robert Bosch GmbH
- Saft Groupe S.A.
- Samsung Sdi Company Limited
- Tai Mao Battery Co., Ltd.
- Thai Bellco Battery Co.,Ltd.
- Trojan Battery Company
Recent Developments:
- In 2020, Extensive collaboration with GS Yuasa International Ltd. to establish regional energy hubs in the UK. They were starting a project with Albion Community Power to combine Yuasa's hybrid lead/lithium battery system with clean wind and solar energy.
- In February 2019, The National Alliance for Advanced Transportation Batteries named hydrolysate one of the top 10 developing battery technologies.
Market Segmentation:
The automotive lead acid battery market is segmented on type, product, customer segment, end user and application. Based on the product, the market is categorized into SLI and micro-hybrid batteries. Based on type, the market is categorized into Flooded, enhanced flooded and VRLA. Based on customer segment, the market is segmented into OEM and aftermarket. Based on end-user, the market is categorized into passenger cars, light commercial vehicles, heavy commercial vehicles, two-wheeler, and three-wheeler. Based on application, the market is further categorized into hybrid vehicles, electric vehicles, light motor vehicles and heavy motor vehicles.
Based On Type, The Flooded Lead-Acid Battery Segment Is A Major Contributor To The Automotive Lead-Acid Battery Market
The flooded lead-acid battery is expected to dominate the automotive lead-acid battery market in the coming years. This type of battery is widely used in vehicles due to its low cost, high energy density, and reliable performance. Additionally, flooded lead-acid batteries are readily available and easily replaced, making them a popular choice for many vehicle owners. Flooded lead-acid batteries use a combination of lead plates and a sulfuric acid electrolyte to produce electrical energy. They are known for their robustness, high discharge rate, and ability to deliver high power quickly, making them well-suited for vehicle use. Although flooded lead-acid batteries face competition from alternative battery technologies, such as lithium-ion batteries, they are still widely used due to their low cost and reliability. The flooded lead-acid battery market is expected to continue to grow, driven by the increasing demand for vehicles and the need for backup power supplies in vehicles.
The Passenger Car Segment Witnessed Growth At A Rapid Rate
The passenger car segment is projected to lead the automotive lead-acid battery market in the coming years. Passenger cars are the largest market for lead-acid batteries due to their high demand, the increased number of vehicles on the road, and the need for reliable power sources in vehicles. Driven by the increased demand for vehicles and the need for reliable power sources in vehicles. Also, the market is expected to continue to grow, driven by the increasing popularity of electric vehicles and the need for backup power supplies in vehicles.
The North American Automotive Lead Acid Battery Market Holds A Significant Revenue Share In The Region
One of the biggest markets for automotive lead-acid batteries in North America. There is a thriving automotive industry in the area, and many cars and significant demand for vehicles are on the road. The market in North America has expanded as a result of this demand, a robust automotive aftermarket, and the existence of significant battery producers. Due to factors including the high number of vehicles on the road, the sizeable automotive aftermarket, and the presence of major battery manufacturers, the United States is the largest market in North America for automotive lead-acid batteries.
The region's rising demand for electric vehicles is also a major factor in expanding the automotive lead-acid battery market. In addition, the Asia Pacific region is one of the largest markets for automotive lead-acid batteries and is expected to grow in the forthcoming years. The region is characterized by a large and rapidly growing automotive industry, driven by increasing production and sales of vehicles, growing demand for electric vehicles, and the increasing number of vehicles on the road. In the Asia Pacific region, nations such as Japan, China, and India are the most numerous markets for automotive lead-acid batteries due to factors such as the large and rapidly growing automotive industries in these countries and the presence of major battery manufacturers. Additionally, the increasing demand for electric vehicles in the region is also driving the automotive lead-acid batteries market growth.
Automotive Lead Acid Battery Market Report:
|
Report Attribute |
Specifications |
|
Market size value in 2022 |
USD 26.57 Bn |
|
Revenue forecast in 2031 |
USD 39.84 Bn |
|
Growth rate CAGR |
CAGR of 4.78% from 2023 to 2031 |
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Quantitative units |
Representation of revenue in US$ Million, and CAGR from 2023 to 2031 |
|
Historic Year |
2019 to 2022 |
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Forecast Year |
2023-2031 |
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Report coverage |
The forecast of revenue, the position of the company, the competitive market statistics, growth prospects, and trends |
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Segments covered |
Type, Product, Customer Segment, End User And Application |
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Regional scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
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Country scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; The UK; France; Italy; Spain; China; Japan; India; South Korea; Southeast Asia; South Korea; Southeast Asia |
|
Competitive Landscape |
Johnson Controls, Exide Technologies, GS Yuasa International Ltd, Reem Batteries & Power Appliances Co. SAOC, C&D TECHNOLOGIES, Robert Bosch GmbH, EnerSys Inc, Samsung SDI Company Limited, Trojan Battery Company, NorthStar Battery Company LLC. |
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Customization scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
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Pricing and available payment methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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