According to the latest report by IMARC Group “Automotive Lead-Acid Battery Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028“, The global automotive lead-acid battery market size reached US$ 13.0 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 15.1 Billion by 2028, exhibiting a growth rate (CAGR) of 2.3% during 2023-2028.
An automotive lead-acid battery is a rechargeable battery comprising sponge lead (Pb) and lead peroxide (PbO2) plates immersed in sulfuric acid to convert chemical energy into electrical power. It is utilized in the starting, lighting, and ignition (SLI) process of automobiles, such as motorbikes and passenger and commercial vehicles. It assists in supplying voltage to various accessories in vehicles like music systems, wipers, radios, air conditioners (ACs), and charging plugs. It is commonly available in valve-regulated lead-acid (VRLA), enhanced flooded, and flooded battery variants.
VRLA battery is also known as a maintenance-free battery as it has a higher charge acceptance, which enables the batteries to charge faster. On the other hand, an enhanced flooded battery is a sealed casing battery that provides a cost-effective solution for entry-level and traditional start-stop vehicles. Whereas flooded batteries, also known as vented batteries, require constant monitoring and topping up with distilled water to ensure longevity. An automotive lead-acid battery has high cell voltage and a large power-to-weight ratio as they supply high surge currents and are highly compatible with motor vehicles as compared to conventionally used batteries. It also offers robustness, cost-effectiveness, and resistance to wear and tear and can tolerate overcharging.
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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Increasing sales of hybrid and electric vehicles (H/EVs) on account of the expanding global population, rapid urbanization, and inflating income levels of individuals represent one of the major factors driving the demand for automotive lead-acid batteries around the world. Due to the inflating prices of petrol, the rising demand for fuel-efficient and high-performance vehicles is also contributing to the market growth. Along with this, due to the growing environmental awareness among individuals, several governing agencies are implementing guidelines to encourage the use of automotive lead-acid batteries and reduce the carbon footprint, which is also driving the market. In addition, rising investments in the upgradation of public charging infrastructures for electric three- or two-wheelers are increasing the need for automotive lead-acid batteries worldwide.
Apart from this, key players are introducing new recycling technologies, such as direct recycling or cathode-to-cathode recycling, to recover minerals, metals, chemicals, and chemical powders. This, in turn, is creating a positive outlook for the market. Additionally, leading players operating in the industry are extensively investing in research and development (R&D) activities to introduce miniaturized automotive lead-acid batteries with enhanced efficiency. They are also focusing on designing advanced and eco-friendly variants that are more durable, reliable, and sustainable than other conventional batteries, which is projected to strengthen the growth of the market.
Breakup by Vehicle Type:
- Passenger Cars
- Commercial Vehicles
- HEV Cars
Breakup by Product:
- SLI Batteries
- Micro Hybrid Batteries
Breakup by Type:
- Flooded Batteries
- Enhanced Flooded Batteries
- VRLA Batteries
Breakup by Customer Segment:
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Competitive Landscape with Key Player:
- C&D Technologies Inc.
- CSB Energy Technology Co. Ltd (Showa Denko K.K.)
- East Penn Manufacturing Company
- Exide Industries Ltd.
- GS Yuasa Corporation
- Koyo Battery Co., Ltd.
- Leoch International Technology Ltd
- PT. Century Batteries Indonesia
- Robert Bosch GmbH
- Thai Bellco Battery Co. Ltd.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
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