The latest report by IMARC Group, titled “North America Automotive Lead-Acid Battery Market: Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2022-2027,” finds that the North America automotive lead-acid battery market reached US$ 4.1 Billion in 2021. Lead-acid batteries are a mature technology used for starting, lighting, and ignition (SLI) process of automobiles. They consist of lead peroxide (PbO2) and sponge lead (Pb) plates that are immersed in sulfuric acid to convert chemical energy into electrical power. They are cost-effective, robust, 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 to supply high surge currents. As a result, these batteries are widely utilized across the automobile industry.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
North America Automotive Lead-Acid Battery Market Trends:
The market is primarily driven by the increasing sales of automobiles across the globe. In addition, the rising awareness among individuals about the harmful impacts of carbon emissions and improving road networks across the region is escalating the demand for electric vehicles (EVs), which represents another major growth-inducing factor. Besides this, key players are introducing advanced product variants made of recycled materials, which makes lead-acid batteries a low environmental footprint energy storage technology. This, coupled with extensive research and development (R&D) activities and collaborations or partnerships among leading organizations to produce advanced and high-performance batteries, are creating a positive market outlook across the globe. Looking forward, IMARC Group expects the market to reach US$ 4.81 Billion by 2027, exhibiting a CAGR of 2.84% during 2022-2027.
- Based on the vehicle type, the market has been categorized into passenger cars, commercial vehicles, two-wheelers, and HEV cars.
- On the basis of the product, the market has been bifurcated into SLI batteries and micro-hybrid batteries.
- Based on the type, the market has been segmented into flooded batteries, enhanced flooded batteries, and VRLA batteries.
- On the basis of the consumer segment, the market has been classified into OEM and replacement.
- Region-wise, the market has been divided into the United States and Canada.
- The competitive landscape of the market has been examined in the report, along with the detailed profiles of key players operating in the industry.
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