Asia Pacific Automotive Lead-Acid Battery Market to Grow at 1.9% During 2024-2032, Impelled by Surging Sales of Luxury Vehicles

September 06, 2022 | Automotive Industry

The latest report by IMARC Group, titled “Asia Pacific Automotive Lead-Acid Battery Market Report by Vehicle Type (Passenger Cars, Commercial Vehicles, Two-Wheelers, HEV Cars), Product (SLI Batteries, Micro Hybrid Batteries), Type (Flooded Batteries, Enhanced Flooded Batteries, VRLA Batteries), Customer Segment (OEM, Replacement), and Country 2024-2032,” finds that the Asia Pacific automotive lead-acid battery market is expected to exhibit a CAGR of 1.9% during the forecast period (2024-2032). Lead-acid batteries are rechargeable batteries that convert chemical energy into electrical power. They consist of lead dioxide cathode, sponge metallic lead anode, and electrolyzed sulfuric acid solution. They are widely used in starting, lighting, and ignition (SLI) applications of automobiles. Compared to lithium-ion batteries, they offer several benefits, such as cost-effectiveness, reliability, resistance to corrosion and abrasion, high current delivery, and low internal impedance. They also have a relatively large power-to-weight ratio and high cell voltage as they supply high surge currents, making them compatible with motor vehicles. In the Asia Pacific, automotive lead-acid batteries are rapidly gaining popularity across the automotive industry as they can withstand overcharging and heavy usage. 

Asia Pacific Automotive Lead-Acid Battery Market Trends:

Lead-acid batteries supply power to various automotive accessories, such as music systems, air conditioners (ACs), wipers, charging plugs, and radios. As a result, the surging sales of high-end and luxury vehicles due to inflating consumer purchasing power, rapid urbanization, and elevating living standards represent the primary factor driving the market growth. Additionally, governments of various countries in the Asia Pacific region are taking favorable initiatives to improve road networks and automotive infrastructure. In line with this, the growing awareness regarding the adverse effects of carbon emissions and the surging environmental concerns have accelerated the adoption of electric cars and e-bikes. This, in turn, is expanding the use of automotive lead-acid batteries as they are 100% recyclable, which assists in minimizing pollution and lowering overall manufacturing costs. Furthermore, the leading manufacturers are engaging in research and development (R&D) activities to introduce innovative, eco-friendly, and high-performance product variants. Along with this, the establishment of manufacturing facilities by numerous multinational players across the region has propelled market growth. Other factors, including the expanding automotive sector, rising production of electric-powered and hybrid cars, and advancements in vehicle technology, are also creating a favorable market outlook.

Market Summary:

  • The market has been segmented based on the vehicle type into passenger cars, commercial vehicles, two-wheelers, and HEV cars.
  • On the basis of the product, the market has been bifurcated into SLI and micro-hybrid batteries.
  • Based on the type, the market has been divided into flooded, enhanced flooded, and VRLA batteries.
  • On the basis of the customer segment, the market has been classified as OEM and replacement.
  • Country-wise, the market has been segregated into China, Japan, India, South Korea, Australia, Indonesia, and others. 
  • The competitive landscape of the market has also been examined, along with detailed profiles of the key players operating in the industry.

Report Scope:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Million
Segment Coverage Vehicle Type, Product, Type, Customer Segment, Country
Countries Covered China, Japan, India, South Korea, Australia, Indonesia, Others
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 3699
Five User License: US$ 4699
Corporate License: US$ 5699
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

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Asia Pacific Automotive Lead-Acid Battery Market to Grow at 1.9% During 2024-2032, Impelled by Surging Sales of Luxury Vehicles
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