Lead Acid Battery Industry Overview
The global lead acid battery market size was valued at USD 37.98 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 4.6% from 2023 to 2030.
The market is estimated to witness growth owing to the growing adoption of lead acid batteries in automobiles and Uninterruptible Power Source (UPS) along with some developments in the manufacturing methods. The increasing demand for lead acid batteries in off-grid power generation is expected to boost the market size. The development in the transportation industry, along with an increase in energy storage applications is projected to drive industry demand in the upcoming future. Growing demand for UPS in various sectors which includes banking, oil & gas, healthcare, and chemicals has propelled industry demand further.
Gather more insights about the market drivers, restrains and growth of the Lead Acid Battery Market
The adverse effects of lead batteries on the environment remain key restraining factors to growth. Also, the declining cost of lithium batteries has stalled the demand for lead-acid batteries, primarily owing to the former’s technological advancement. Continuous reduction in costs is likely to reinforce demand for the lithium-ion technology in various energy storage markets, which is also expected to restrain the market.
Advancement of the auto industry in India, Brazil, Mexico, South Korea, Indonesia, Thailand, and Vietnam is anticipated to expand the global industry size. Increasing demand for pollution-free electric automobiles coupled with technological developments is projected to fuel product demand over the upcoming years.
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Lead Acid Battery Market Segmentation
Grand View Research has segmented the global lead acid battery market based on product, construction method, application, and region:
Lead Acid Battery Product Outlook (Revenue, USD Million, 2018 - 2030)
Lead Acid Battery Construction Method Outlook (Revenue, USD Million, 2018 - 2030)
Lead Acid Battery Application Outlook (Revenue, USD Million, 2018 - 2030)
- Automotive
- UPS
- Telecom
- Electric bikes
- Transport vehicles
- Others
Lead Acid Battery Regional Outlook (Revenue, USD Million, 2018 - 2030)
- North America
- Europe
- Asia Pacific
- Central and South America
- Middle East and Africa
Key Companies profiled:
- East Penn Manufacturing Co.,
- Exide Technologies, Johnson Controls
- ATLASBX Co. Ltd.
- NorthStar, C&D Technologies, Inc.
- Narada Power Source Co., Ltd.
- Amara Raja Corporation
- GS Yuasa Corp
- Crown Battery Manufacturing
- Leoch International Technology Ltd.
- Panasonic Corporation
Key Lead Acid Battery Company Insights
The market is fragmented in nature due to the presence of many manufacturers. The market is categorized with a large number of market players in the U.S., China, and Japan. Mergers & acquisitions and joint ventures are key characteristics of the market players, to increase their market presence. The industry is highly competitive with participants involved in continuous product innovation and R&D.
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