A lead-acid battery is a type of rechargeable battery commonly used in automotive, industrial, and stationary applications. It consists of lead dioxide (positive electrode), sponge lead (negative electrode), and sulfuric acid (electrolyte) enclosed in a plastic casing. Lead-acid batteries are known for their reliability, affordability, and ability to deliver high currents.
The lead acid battery market is projected to experience consistent growth over the forecast period, with a steady compound annual growth rate (CAGR) of 5.20%. Market valuation is anticipated to increase from US$ 62,723.74 million in 2024 to US$ 104.13 billion by 2034.
According to the market analysis by Future Market Insights, the expansion of automotive production facilities to cover rural and other remote areas has led to the increasing demand for the lead-acid battery. Rapid technological advancements in production technologies are also projected to complement market growth over the coming years.
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The growing requirement has led to mass production and has increased the importance of process automation in the lead-acid battery market. The market is shifting towards industry 4.0 s, leading to the universal adoption of new production technologies.
Recent Developments
- In March 2019, GS Yuasa Corporation has announced that GS Yuasa International Ltd. launched a new automotive lead-acid storage battery plant operated by equity method affiliate inci GS Yuasa Akü Sanayi ve Ticaret Anonim Sirketi (“IGYA”) in Manisa Province, Turkey.
- In February 2020, the company has announced the launch of its SNS-TN series of valve-regulated stationary lead-acid batteries.
- In July 2020, Blink Charging and Enersys collaborate To Develop High Power Inductive/Wireless and enhanced DC Fast Charging Systems with energy storage options for the automotive market.
- In January 2021, EnerSys is teaming up with TravelCenters of America (TA) to offer Odyssey Performance and NorthStar PRO Group 31 batteries for heavy-duty applications in all TA locations throughout the United States.
Drivers:
- Market Size and Growth: The lead-acid battery market is substantial, with a global market size projected to reach billions of dollars. It has exhibited steady growth over the years and is expected to continue expanding at a moderate pace in the foreseeable future.
- Key Applications:
- Automotive: Lead-acid batteries are extensively used in automotive vehicles, including cars, trucks, motorcycles, and other vehicles. They provide the necessary power for engine ignition, lighting, and other electrical systems.
- Industrial: Industries rely on lead-acid batteries for various applications, such as forklifts, material handling equipment, backup power systems, and emergency lighting.
- Stationary Power Storage: Lead-acid batteries serve as a reliable source of backup power in applications such as telecommunications, data centers, and off-grid renewable energy systems.
- Technology Overview: Lead-acid batteries consist of lead dioxide and sponge lead electrodes immersed in a sulfuric acid electrolyte. They operate on the principle of converting chemical energy into electrical energy through reversible electrochemical reactions.
- Market Drivers:
- Automotive Industry Growth: The expansion of the automotive sector, particularly in emerging economies, drives demand for lead-acid batteries used in vehicles.
- Industrial Development: Industrialization and infrastructure development fuel the demand for lead-acid batteries for material handling equipment, backup power, and other industrial applications.
- Renewable Energy Integration: Lead-acid batteries play a crucial role in storing energy from renewable sources like solar and wind power, supporting the transition to clean energy.
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Key Players
- Furukawa Electric Co., Ltd.
- Hitachi Chemical Company, Ltd.
- Narada Power Source Co. Ltd.
- SiteTel Sweden AB (NorthStar)
- Clarios
- Leoch International Technology Ltd.
- Yokohama Batteries Sdn. Bhd.
- Enersys
- Exide Industries Ltd.
- GS Yuasa Corporation
- Hoppecke Batterien GmbH & Co. KG.
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Market Segmentation
By Product Type:
- Flooded Battery
- AGM Battery
- Gel Battery
By Application:
- Transportation
- Passenger Cars
- LCV
- HCV
- Two wheelers
- Others
- Motive Industrial
- Stationary Industrial
- Commercial
- Residential
- Grid Storage
- Others
By Sales Channel:
- OEM
- Aftermarket
By Region:
- North America
- Latin America
- Europe
- South Asia & Pacific
- East Asia
- Middle East and Africa (MEA)
