Lead Acid Battery Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Lead Acid Battery Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Report Format: PDF+Excel | Report ID: SR112023A6269
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Market Overview:

The global lead acid battery market size reached US$ 33.0 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 41.5 Billion by 2028, exhibiting a growth rate (CAGR) of 4% during 2023-2028.

A lead acid battery refers to a cost-effective rechargeable energy storage device, which includes an anode as the positive and a cathode as the negative terminal. They are further connected by the electrolyte to produce electricity through electrochemical reactions. The battery contains toxic lead metal, which can be recycled and prepared for reuse in other products. Apart from this, it involves oxide and grid production, pasting, curing, assembling, formation, filling, charge-discharge proceedings, inspection, and product dispatching as standard processes. The lead acid battery is tolerant to overcharging and relatively affordable and offers a larger current capacity and better performance in low or high temperatures. As a result, it is extensively used in grid storage and other commercial applications. Currently, the lead acid battery is commercially available in varying sizes and types, including flooded and sealed. 

Lead Acid Battery Market Trends:

The considerable expansion in the automotive industry and the increasing need for fuel-efficient, electrically chargeable vehicles are primarily driving the market growth. Additionally, the rising environmental concerns and the implementation of green initiatives by governments to promote the uptake of eco-friendly components, such as lead acid batteries, to reduce carbon emissions are acting as another growth-inducing factor. As compared to lithium-ion and nickel-based battery systems, lead acid battery is more economical, recyclable, and reliable. Moreover, the widespread adoption of uninterruptible power supply (UPS) devices across various industrial verticals have further supplemented the demand for lead acid batteries as they have relatively lower-tech battery management requirements. In line with this, the extensive employment of innovative battery manufacturing machines to optimize production processes at minimal costs is further contributing to the market growth. Besides this, strategic collaborations amongst key players to engineer multiple product variants with enhanced efficacy are positively stimulating the market growth. 

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global lead acid battery market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on product, construction method, sales channel and application.

Breakup by Product:

  • SLI
  • Stationary
  • Motive
     

Breakup by Construction Method:

  • Flooded
  • Valve Regulated Sealed Lead–acid Battery (VRLA)
     

Breakup by Sales Channel:

  • OEM
  • Aftermarket
     

Breakup by Application:

  • Automotive
  • UPS
  • Telecom
  • Others
     

Breakup by Region:

  • North America
    • United States
    • Canada
  • Asia-Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Indonesia
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Italy
    • Spain
    • Russia
    • Others
  • Latin America
    • Brazil
    • Mexico
    • Others
  • Middle East and Africa
     

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being C&D Technologies Inc., Clarios International Inc., East Penn Manufacturing Co., EnerSys, Exide Industries Limited, GS Yuasa Corporation, HBL Power Systems Limited, HOPPECKE Batterien GmbH & Co. KG, Leoch International Technology Limited, Panasonic Holdings Corporation and Teledyne Technologies Incorporated.

Report Coverage:

Report Features Details
Base Year of the Analysis 2022
 Historical Period 2017-2022
Forecast Period 2023-2028
Units US$ Billion
Segment Coverage Product, Construction Method, Sales Channel, Application, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered C&D Technologies Inc., Clarios International Inc., East Penn Manufacturing Co., EnerSys, Exide Industries Limited, GS Yuasa Corporation, HBL Power Systems Limited, HOPPECKE Batterien GmbH & Co. KG, Leoch International Technology Limited, Panasonic Holdings Corporation and Teledyne Technologies Incorporated
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
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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Lead Acid Battery Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
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