Global lead acid battery market size is estimated to be valued at US$ 43.1 Bn in 2019 and is expected to register a moderate CAGR during the forecast period. In addition, the global lead acid battery sale is expected to be above 400 thousand MWh. This is primarily due to steady growth of automobile and its aftermarket sales, increasing number of solar-based energy storage systems in developing region, and growth in the telecom industry.
Major application for lead acid batteries are passenger cars and commercial vehicles. In 2019, the automotive segment is estimated to account for over 60% revenue share of the global lead acid battery market.
Global Lead Acid Battery Market, by Product Type:
In 2019, the flooded LAB segment dominates the global lead acid battery market with over 55% market share as it is primarily used in automotive sector. In addition, the flooded LAB is also widely used in industrial trucks and golf carts primarily due to low cost. However, AGM and VRLAB segments is expected to register significant CAGR during the forecast period due to its enhanced performance.
Global Lead Acid Battery Market Key Developments, Insights, and Trends:
Various players in the ecosystem focus on introducing new products through research and development activities and acquisitions
- In April 2019, Indian Oil Corporation announced plans to licence its proprietary technology to battery manufacturers in order to enhance lead acid battery capabilities. This technology will enhance the lead acid battery life by 30% and shorten charging time by 40%.
- In May 2019, Generac Holdings, a US-based power solution manufacturer, acquired Pika Energy, a US-based home energy storage solution provider and battery manufacturer, in order to compliment is product offerings
Global Lead Acid Battery Market, by Region:
Among all the regions, Asia Pacific lead acid battery market currently dominates the global market, accounting for over 35% market share in 2019. This is primarily due to the steady demand for automobiles, increasing adoption of UPS for industrial and telecom sectors and increasing number of energy-grid projects for alternative energy sources such as Wind, Solar, etc. China is the largest producer and exporter of lead acid batteries globally driven by increasing manufacturing output, favourable government regulations, and increasing consumer spending in the country.
The market in Europe is estimated to account for the second highest revenue share of over 26% in 2019. Increasing investments in green transportation, stringent environmental regulations and increasing number of solar projects are expected to drive the growth of the market in the region
Global Lead Acid Battery Market Size and Forecast: Competition Landscape
Key players in the market focus on product development and enhancing its AGM and VRLAB solutions portfolio. In addition, key local players focus on offering robust solutions for the energy storage market due to increasing investment by the government in green technologies across the globe.
Some key lead acid battery market players are:
- Johnson Controls International plc
- Exide Technologies
- Yokohama Industries Berhad
- GS Yuasa Corporation
- EnergySys Limited
- Fujian Quanzhou Dahua Battery Co. Ltd.
- B. Battery Co. Ltd.
- Hitachi Chemical Energy Technology Co. Ltd.
- C&D Technologies Inc.
- ATLASBX Co. Ltd.
- Amara Raja Corporation
- AC Delco Corporation
- First National Battery Corporation
By Product Type:
- Flooded LAB
- Valve-regulated LAB
By Technology Type:
- Start, Lighting, and Ignition (SLI)
- Energy and Utilities
What Will You Discover in the Report?
- An in-depth analysis of the lead acid battery market across regions – North America, Latin America, Western Europe, Central and Eastern Europe, Asia Pacific, Middle East, and Africa.
- How the lead acid battery market revenue is expected to grow throughout the forecast period.
- How geopolitical policies and technological changes will affect the lead acid battery market in near future
- Which current and upcoming technologies will shape up the lead acid battery market?
- Where the stakeholders should invest to generate higher profit margins
- How consumers (end-users) will reflect to the lead acid battery industry during the forecast period
- Who are the lead acid battery industry leaders and what are the key initiatives taken by them for long term growth?
- Industry exclusive use cases
Who will benefit from the Report?
- Battery Raw Material Supplier
- Battery Manufacturer
- Battery End-user OEMs
- Consultants and Analysts
Analyst access with Bekryl Market Analysts
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