The Advanced Lead Acid Battery Market is estimated to be worth USD 31.9 billion in 2024 and is projected to be valued at USD 62.0 billion in 2034. Between 2024 and 2034, the industry is expected to register a CAGR of 6.9%.
The increasing demand for energy storage solutions, driven by the growth of renewable energy sources and the need for grid stability, has provided opportunities for advanced lead-acid batteries. These batteries can serve as cost-effective energy storage options for grid applications.
Efforts to address environmental concerns associated with traditional lead-acid batteries have led to the development of advanced variants with improved recycling processes and reduced environmental impact. This has made them more acceptable in markets with strict environmental regulations.
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The versatility of advanced lead-acid batteries makes them invaluable across multiple sectors such as automotive, telecommunications, renewable energy storage, and industrial power backup. Their capability to meet a wide range of needs significantly contributes to the overall growth of the market.
The rising tide of industrialization and infrastructure development in emerging economies has spurred a heightened demand for energy storage solutions that are both reliable and cost-effective. Advanced lead-acid batteries have proven to be well-aligned with the needs of these markets, playing a pivotal role in driving the expansion of the overall market.
Advanced Lead Acid Batteries Market Report Coverage
| Attributes | Details | ||
| Estimated Market Size in 2024 | US$ 31.9 billion | ||
| Projected Market Valuation in 2034 | US$ 62.0 billion | ||
| Value-based CAGR 2024 to 2034 | 6.9 % | ||
| Forecast Period | 2024 to 2034 | ||
| Historical Data Available for | 2019 to 2023 | ||
| Market Analysis | Value in US$ billion | ||
| Key Market Segments Covered | Advanced Lead Acid Battery Market
• By Type: o Motive o Stationary • By Construction Method: o Valve Regulated Lead Acid (VRLA) Battery o Flooded Battery o Others • By End-Use Industry: o Automotive and Transportation o Energy and Power o Industrial o Residential o Commercial o Others • By Region: o North America o Latin America o Western Europe o Eastern Europe o South Asia and Pacific o East Asia o Middle East and Africa |
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Key Takeaways from the Market Study
- From 2019 to 2023, the advanced lead acid battery market expanded a a CAGR of 8.6%
- Based on type, the motive segment is expected to account for a CAGR of 6.7% in 2024.
- Global advanced lead acid battery demand in China is predicted to account for a CAGR of 7.9% in 2024.
- In the United States, the advanced lead acid battery industry is expected to account for a CAGR of 7.1% in 2024.
- Japan is projected to expand by a value CAGR of 8.5% between 2024 and 2034.
- The advanced lead acid battery market in the United Kingdom is anticipated to record a CAGR of 8.0% in 2024.
Competitive Landscape
Manufacturers are deploying diverse marketing strategies, including the introduction of new products, expanding into different geographical markets, engaging in mergers and acquisitions, and forming strategic partnerships and collaborations.
These initiatives are geared towards capturing the attention of prospective buyers and cultivating a broader customer base. Key players operating in the advanced lead acid battery market are given below.
- Amara Raja
- Chaowei Power Holdings Limited
- Coslight Technology International Group Co., Ltd,
- Crown Battery
- East Penn Manufacturing
- Enersys
- Exide Industries Ltd
- Hitachi Chemical Energy Technology
- GS Yuasa International Ltd
- Furukawa Battery Co. Ltd
Purchase this report now to get key companies with their Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis.
Product Portfolio
- Coslight Technology International Group Co. Ltd. is a diversified company involved in various energy-related products. It is a notable player in the lead-acid battery market, producing batteries for applications such as telecommunications, energy storage, and electric vehicles.
- Crown Battery is a well-established manufacturer of lead-acid batteries for various industries, including automotive, marine, and renewable energy. The company has established a reputation for its unwavering dedication to ensuring quality and reliability.
