Global Automotive Lead-Acid Battery Market to Reach US$ 16.3 Billion by 2032, Impelled by Expanding Automobile Industry

March 03, 2022 | Automotive Industry

According to the latest report by IMARC Group, titled "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 Region 2024-2032," the global automotive lead-acid battery market reached a value of US$ 13.3 Billion in 2023. Lead-acid batteries comprise a lead-dioxide cathode, sponge metallic lead anode, and sulfuric acid and water solution. They are used for starting, lighting and ignition (SLI) applications in automobiles. Despite having a very low energy-to-weight and energy-to-volume ratio, these batteries provide high surge currents, which makes them suitable for supplying the high current required by automobile starter motors. Along with this, lead-acid batteries supply voltage to vehicle accessories like air conditioners, radio, music players, wipers, and charging plugs.  

Global Automotive Lead-Acid Battery Market Trends:

The market is primarily driven by the increasing sales of automobiles across emerging regions such as Asia Pacific and the Middle East. In addition, the escalating demand for electric vehicles and e-bikes on account of improving living standards and rising disposable incomes represent another growth-inducing factor. Lead-acid batteries are used in electric vehicles due to their favorable characteristics such as high current delivery, resistance to corrosion and abrasion, tolerance to overcharging and low internal impedance. Besides this, the market is further propelled by the various initiatives undertaken by the governments of numerous countries to improve the automotive infrastructure. Furthermore, key players are continually engaging in research and development activities to enhance the efficiency of these batteries. On account of these factors, IMARC Group expects the market value to reach US$ 16.3 Billion by 2032, exhibiting a CAGR of 2.2% during the forecast period (2024-2032).

Market Summary:

  • On the basis of the vehicle type, the market has been categorized into passenger cars, commercial vehicles, two-wheelers, and HEV cars. Amongst these, automotive lead-acid batteries are mostly used in commercial vehicles.
  • Based on the product, the market has been bifurcated into SLI and micro-hybrid batteries. At present, SLI batteries hold the largest market share. 
  • On the basis of the type, flooded batteries account for the majority of the global market share. Other major segments include enhanced flooded and VRLA batteries.
  • Based on the customer segment, the market has been segmented into OEM and replacement. OEM currently represents the leading segment.
  • Region-wise, the market has been divided into Asia Pacific, North America, Europe, Middle East and Africa, and Latin America. Currently, Asia Pacific exhibits a clear dominance in the market.
  • 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.

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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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Global Automotive Lead-Acid Battery Market to Reach US$ 16.3 Billion by 2032, Impelled by Expanding Automobile Industry
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