The Lead Market is poised for substantial growth during the forecast period, with a projected Compound Annual Growth Rate (CAGR) of over 5%. This growth is primarily driven by the increasing global demand for lead-acid batteries. These conventional lead-acid batteries have a long-standing track record of serving as reliable energy storage solutions for various end-use applications, both in mobile and stationary settings.
As the demand for energy storage solutions continues to rise, the lead market is expected to capitalize on the widespread use of lead-acid batteries and experience significant expansion in the short term. This growth trend presents opportunities for businesses operating in the lead market to leverage the surging demand and secure a competitive advantage in the industry.
Conventional lead-acid batteries comprise a significant history of offering energy storage for a massive range of end-use applications, in mobile as well as stationary applications. In addition to that, the global market for lead is anticipated to witness noticeable growth on the account of growing lead-acid battery consumption. Furthermore, over the coming years, the global demand for lead is estimated to be significant as capacity expansions and new operations boost supply at a faster rate than demand.
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Key Takeaways
- The high public awareness of the numerous benefits of employing lead batteries in sophisticated cars, comprising stop-start and hybrid vehicles paired well with renewable energy generation, is expected to boost demand for lead in the future years.
- According to the information extracted from various government sources of several developed and developing economies, it has been revealed that their nationwide demand for energy is predicted to be doubled within the next decade.
- The growth of the global lead market is increasing since various countries such as China and India have started making huge investments in smart grid technology in order to meet the huge demand for power over the projection period.
- The potential investments in efficient smart grid technology have further led to the massive growth of lead-acid batteries, which are mostly utilized in electrical vehicles (EV), this factor further serves as one of the major components within the smart grid technology.
- In addition to that, the surging adoption of advanced vehicle technologies including stop-start & hybrid vehicles and renewable energy generation is contributing towards the innovation in the lead-based battery segment over the projection period.
- Lead acid batteries are known to be based on modern technologies which are also gaining immense importance in applications where batteries are considered extremely important for their efficient mechanism, as well as in new applications such as grid storage for renewable energy generation.
- The surge in the building construction industry is predicted to be one of the crucial factors driving the demand for the lead over the assessment period. Lead is widely used in the construction industry as an architectural metal for roofing materials, gutters and gutter joints, and roof parapets.
- In addition to that, the surging demand for lead-acid batteries for several automotive applications on the account of the surging automotive industry is anticipated to contribute to the growth of the market. Furthermore, surging health concerns associated with the use of lead paints are expected to slow down the growth of the market.
Competitive Landscape
The prominent players in the global lead market are concentrating on expanding the usage of lead in the end-use industry. The key market players are concentrating on mergers and acquisitions to cater to the diverse customer base. Furthermore, technological advancements are making it possible for dominant companies in the global landscape to diversify the utilization of lead in numerous end-use industries over the projection period.
Key players
- EnerSys Inc.
- Global Metals
- Gravita Metals
- Johnson Control Inc.
- M.A. Metal Corporation
- Canada Metal
- EAST PENN
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More Insights into the Lead Market
The global lead market is predicted to surge owing to the rising demand for lead-acid batteries for numerous automotive applications as the vehicle industry expands exponentially over the projection period.
North American region is expected to dominate the global lead market as it accounts for the largest consumer base for lead owing to its vast construction and automobile industry. The demand in Europe is expected to rise moderately on account of declining automobile sales.
Asia Pacific region is expected to emerge as a leading region in global sales of lead market attributed to the rising demand for energy in smart grid technology, which includes electric vehicles operated on lead batteries. Lead-acid battery exports and production have strongly recovered in China after the wide-ranging environmentally motivated cutbacks in 2011. The aforementioned factors are further expected to offer new opportunities for the growth of the global lead market.
The battery was considered the largest segment with a revenue share of around 85% in 2019, and this trend is expected to continue over the forecast period. The increasing demand for batteries is propelling manufacturers to expand their production capacity and integrate across the value chain.
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