According to the latest report by IMARC Group, titled "Automotive Lead-Acid Battery Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the global automotive lead-acid battery market size reached US$ 12.7 Billion in 2021. 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.
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.
Global Automotive Lead Acid Batteries 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$ 15.0 Billion by 2027, exhibiting a CAGR of 2.6% during the forecast period (2022-2027).
- 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 passenger cars.
- Based on the product type, 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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