Automotive Lead Acid Battery Market

Market Overview:

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.

Lead-acid batteries are used in the starting, lighting, and ignition (SLI) process of automobiles. They consist of sponge lead (Pb) and lead peroxide (PbO₂) plates that are immersed in sulfuric acid to convert chemical energy into electrical power. They are robust, cost-effective, and resistant to wear and tear and can tolerate overcharging compared to lithium-ion batteries. They also have high cell voltage and a large power-to-weight ratio as they supply high surge currents, thereby making them highly compatible with motor vehicles.

Automotive Lead-Acid Battery Market Trends:

Lead-acid batteries supply voltage to various accessories in vehicles, such as music systems, wipers, radios, air conditioners (ACs), and charging plugs. This, along with the boosting sales of passenger vehicles on account of the expanding global population, rapid urbanization, and inflating income levels of consumers, represents one of the key factors impelling the market growth. Apart from this, the increasing awareness among individuals about the harmful impacts of carbon emissions, coupled with improving road networks, is catalyzing the demand for electric cars and e-bikes around the world. This is expanding the use of lead-acid batteries as they offer high current delivery, resistance to corrosion and abrasion, and low internal impedance. Furthermore, the introduction of variants comprising recycled materials, which makes lead-acid batteries a low environmental footprint energy storage technology, is propelling the market growth. Besides this, manufacturers are investing in research and development (R&D) activities and forming collaborations or partnerships with leading organizations to produce advanced and high-performance batteries. This, in turn, is anticipated to create a positive influence on the sales of lead-acid batteries in the upcoming years.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global automotive-lead acid battery market report, along with forecasts at the global and regional level from 2023-2028. Our report has categorized the market based on the vehicle type, product, type, and customer segment.

Breakup by Vehicle Type:

• Passenger Cars
• Commercial Vehicles
• Two-Wheelers
• HEV Cars
   

Commercial Vehicles currently represent the largest vehicle type on account of inflating disposable income levels and shifting consumer preferences from shared mobility to self-owned vehicles.

Breakup by Product:

• SLI Batteries
• Micro Hybrid Batteries
   

SLI batteries hold the majority of the global automotive lead-acid battery market share as they have longer battery life.

Breakup by Type:

• Flooded Batteries
• Enhanced Flooded Batteries
• VRLA Batteries
   

At present, flooded batteries dominate the market as they can withstand elevated temperature of the vehicle engine.

Breakup by Customer Segment:

• OEM
• Replacement
   

OEM segment presently dominates the market as it provides reliability, durability, and ease of replacement.

Breakup by Region:

• Asia Pacific
• North America
• Europe
• Middle East and Africa
• Latin America
   

The Asia Pacific enjoys the leading position in the market due to the boosting sales of automobiles in the region.

Competitive Landscape:

The competitive landscape of the market has also been examined with some of the key players being C&D Technologies Inc., Clarios, CSB Energy Technology Co. Ltd (Showa Denko K.K.), East Penn Manufacturing Company, EnerSys, Exide Industries Ltd., GS Yuasa Corporation, Koyo Battery Co., Ltd., Leoch International Technology Ltd, PT. Century Batteries Indonesia, Robert Bosch GmbH and Thai Bellco Battery Co. Ltd.

Report Coverage: