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Lead Acid Battery Market to Exceed USD 77.88 billion by 2030 – Exclusive Report by Astute Analytica

CHICAGO, UNITED STATES, December 7, 2022 / -- Global Lead Acid Battery Market is forecast to record an increase in revenue from US$ 44.86 billion in 2021 to US$ 77.88 billion by 2030. The market is growing at a CAGR of 6.53% during the forecast period from 2022 to 2030.

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The lead acid battery was the first rechargeable battery. When compared to the existing rechargeable batteries, they have a low energy density. Despite this, the cell's ability to deliver substantial surge currents gives them a high power-to-weight ratio. These qualities make them ideal for use in automotive to deliver the high current required by starter motors, in addition to their inexpensive price. Lead acid is also used in many different sectors, including industrial, automotive, manufacturing, communications, UPS, and utilities, to name a few.

Market Growth Factors

The major factor responsible for the growth of the global lead-acid battery industry includes cost-competitive energy storage solutions. Many organizations invest heavily in battery storage solutions since energy storage expenditures are crucial, particularly for industries.

Moreover, the market has a promising prospect for growth due to the expansion of data center infrastructure. As they provide backup power to meet the backup power needs of diverse businesses, data centers have a significant demand for battery storage. But until recently, lead-acid batteries were the most economically viable technology. Lead-acid batteries are becoming less and less competitive in terms of cost-effectiveness as other battery storage technologies, mainly lithium-ion technology, gain headway. For instance, Surge Holdings, Inc., QUALCOMM, Juniper Networks, and Verizon Communications Inc. are active technology businesses in the market. Surge Holdings, Inc., a telecom and Fintech software firm based in Las Vegas, recently shared its market expansion strategy with over 20 million active US troops, veterans, and close family members. There will be an increasing need for central power backup facilities in the future as lead-acid batteries will power even the UPSs. With the profusion of data centers, it is anticipated that users will use them more frequently.

Additionally, the lead acid battery market is anticipated to expand slowly over the projection period as a result of the ongoing COVID-19 global pandemic. The government has implemented strict lockdown regulations and social distancing legislation to stop the coronavirus from spreading throughout the community, which will reduce the market demand for lead acid battery systems.

Segmentation Overview

In 2021, in terms of type, the flooded battery segment dominated the global lead-acid battery industry. This is due to the growing marine trade initiatives that are likely to drive the growth opportunities for the flooded battery segment. On the other hand, the VRLA battery segment is likely to grow at the highest annual growth rate from 2022 to 2030 due to the fact that VRLA batteries offer an excellent performance level with a longer life cycle.

In 2021, based on application, the automotive starter segment held a significant share of the global lead acid battery industry. This is owing to the rising trend for electric vehicles and the need for cost-competitive energy bases in the marketplace. On the other hand, the forklifts & other vehicles segment will grow at a compound annual growth rate throughout the forecast years forklift trucks are mostly employed in the material handling business due to their cost-effectiveness, where productivity and affordability are of utmost importance.

Regional Insights

In 2021, in terms of country, the Asia Pacific region had a maximum share and led the global lead acid battery industry. This is owing to increased sales and production of automobiles, growing industrialization, increasing population, and growing demand for UPS systems. The Society of Indian Automobile Manufacturers reports that overall auto sales increased by 14.22% from 2016-2017 to 2017-2018. SLI lead-acid batteries will become more popular as auto sales increase.

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Companies Landscape
The prominent competitors in the global lead acid battery market are:
Coslight Technology
Exide Technologies
Sacred Sun Power Sources
CSB Energy Technology
Narada Power
East Penn Manufacturing
Camel Group
Shuangdeng Group (Shoto)
Tianneng Holding Group
Banner batteries
Midac Batteries
Hankook AtlasBX
C&D Technologies
Amara Raja
Other Prominent Players

Market Strategies Adopted by these Players

In April 2022, Off-grid Energy Labs released a statement announcing the release of their distinctive ZincGel Battery, which will supply India's EV battery-switching industry with durable batteries.

In January 2022, Exide Technologies released Motion+ Fleet, a new cloud-based technology. Logistics are converted into precise real-time data via the new fleet management tool. It enables warehouse managers to make informed judgments about battery use from anywhere in the world by turning their intuition into data.

In January 2022, Yuasa battery released the most recent YBX product range for automobiles and marine vessels. As soon as batteries with highly designed technology and sophisticated power requirements become available, users will be able to install them into their luxury vehicles and harness the power they rely on for their trips.

In March 2019, GS Yuasa Corporation revealed that an affiliate using the equity method in Turkey, GS Yuasa International Ltd., has begun operations at a new automotive lead-acid storage battery factory. The new facility, which makes use of the most recent technologies, manufacturing processes, and quality standards from the GS Yuasa Group, will be principally responsible for producing high-performance lead-acid storage batteries for green vehicles.

In July 2018, EnerSys, the maker of ODYSSEY batteries, a global pioneer in stored energy solutions for industrial applications, was recently granted Approved Vendor status by the National PRONTO Association. EnerSys can now provide superior Absorbed Glass Mat ODYSSEY batteries to PRONTO warehouse distribution members as an Approved Vendor.

Segmentation Outline

The global lead acid battery market segmentation focuses on Type, Application, and Region.
By Type Segment
VRLA Battery
Flooded Battery

By Application Segment
Automotive Starter
Motorcycles & Electric Bikes
Forklifts & other Vehicles
Communication Industry

By Region Segment
North America
The U.S.

The UK
Rest of Europe

Asia Pacific
Southeast Asia
South Korea
Rest of Asia Pacific

Middle East & Africa (MEA)
South Africa
Rest of MEA

Latin America
Rest of Latin America

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About Astute Analytica
Astute Analytica is a global analytics and advisory company that has built a solid reputation in a short period, thanks to the tangible outcomes we have delivered to our clients. We pride ourselves in generating unparalleled, in-depth, and uncannily accurate estimates and projections for our very demanding clients spread across different verticals. We have a long list of satisfied and repeat clients from a wide spectrum including technology, healthcare, chemicals, semiconductors, FMCG, and many more. These happy customers come to us from all across the Globe. They are able to make well-calibrated decisions and leverage highly lucrative opportunities while surmounting the fierce challenges all because we analyze for them the complex business environment, segment-wise existing and emerging possibilities, technology formations, growth estimates, and even the strategic choices available. In short, a complete package. All this is possible because we have a highly qualified, competent, and experienced team of professionals comprising business analysts, economists, consultants, and technology experts. In our list of priorities, you-our patron-come at the top. You can be sure of best cost-effective, value-added package from us, should you decide to engage with us.

Aamir Beg
Astute Analytica
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