Global Automotive Lead Acid Battery Market Size By Product (SLI Batteries, Micro Hhybrid Bbatteries), By Automotive (Flooded Bbatteries, VRLA Bbatteries), By End-User (OEM, Aftermarket), By Application (Passenger Vehicles, Light & Heavy Commercial Vehicles, Two Wheelers, Three Wheelers), ) By Geogra
Published on: 2024-08-02 | No of Pages : 320 | Industry : latest updates trending Report
Publisher : MIR | Format : PDF&Excel
Global Automotive Lead Acid Battery Market Size By Product (SLI Batteries, Micro Hhybrid Bbatteries), By Automotive (Flooded Bbatteries, VRLA Bbatteries), By End-User (OEM, Aftermarket), By Application (Passenger Vehicles, Light & Heavy Commercial Vehicles, Two Wheelers, Three Wheelers), ) By Geogra
Automotive Lead Acid Battery Market Size And Forecast
Automotive Lead Acid Battery Market size was valued at USD 46.07 Billion in 2024 and is projected to reach USD 64.77 Billion by 2031, growing at a CAGR of 4.80% from 2024 to 2031.
- An automotive lead-acid battery (also known as a car battery) is a rechargeable battery that supplies the electrical power required to start a vehicle’s internal combustion engine.
- Lead acid batteries are commonly used in automobiles to start the engine, run the lights, and power numerous gadgets. They are also utilized in various electric vehicles, including golf carts and boats.
- All modern lead-acid battery monitoring systems use voltage and current sensing to determine battery impedance and health. However, due to the existing sensor, such a system is expensive and usually requires an expert to operate.
- For decades, automobiles have used lead-acid batteries to ignite their internal combustion engines. A standard automotive battery lasts for roughly five years before needing replacement. Under optimal conditions, they can last for up to ten years.
- While lead-acid batteries remain the dominant technology for automotive batteries due to their low cost and dependability, advances in lithium-ion battery technology may provide competition in the future.
Global Automotive Lead Acid Battery Market Dynamics
The key market dynamics that are shaping the global automotive lead acid battery market include
Key Market Drivers
- Well, Established Technology Lead acid batteries are a well-established and mature technology with a long history dating back over 150 years. They continue to dominate a wide range of applications, including automotive starting batteries, backup power systems, uninterruptible power supply (UPS), and many industrial uses. One of their most significant advantages over alternative battery technologies such as lithium-ion is their low cost. Because of their low cost, they are used in a wide range of applications.
- Cost-Effective Energy Solution lead acid batteries are known for their ease of maintenance and charging, which contributes to their long-lasting popularity. Their simple charging process and low maintenance needs make them suitable for a wide spectrum of consumers. Automotive lead acid batteries are widely used and have a well-established infrastructure primed for more expansion. Their low cost, combined with their dependability and ease of use, ensures their continued importance in a wide range of sectors.
- Escalating Vehicle Production Lead-acid batteries are in high demand across a wide range of vehicle categories. From two-wheelers zipping through city streets to workhorses like commercial trucks and everyday passenger automobiles, the demand for dependable starting power propels the lead-acid battery market ahead. As the number of vehicles on the road increases, so does the demand for replacement batteries. This ever-expanding vehicle fleet causes a ripple effect, resulting in a continual stream of clients in need of new batteries to keep their vehicles functioning smoothly.
- Advanced Battery Technology The advanced battery technology provides clients with a variety of options including flooded, enhanced flooded, and absorbent glass mat (AGM) batteries. With a rising fleet of vehicles on the road and the need for periodic battery repairs, demand for lead-acid batteries is increasing, and this trend is projected to continue for the foreseeable future. Lead acid batteries are the dominant choice for starting, lighting, and ignition (SLI) applications in automobiles. The increase in automotive production and sales, as well as the number of vehicles on the road, have a direct impact on the market for these batteries.
Key Challenges
- The Rising Adoption of Lithium-ion Batteries The lithium-ion batteries emerged as the preferred option thanks to their superior properties over lead acid batteries in the automotive industry. Lithium-ion batteries beat lead acid batteries in several ways, including higher energy density, better power-to-weight ratio, and longer cycle life. These benefits make lithium-ion batteries better suited to satisfying the high-performance demands of electric vehicles, allowing for longer driving ranges and faster acceleration.
- Higher Initial Cost of Lithium-Ion Batteries While lithium-ion batteries provide long-term benefits, their higher initial cost as compared to lead-acid batteries can be a deterrent for certain budget-conscious customers. However, as lithium-ion production expands and prices fall, lead-acid batteries’ advantage may erode.
- Lead Toxicity Lead, a hazardous substance, causes substantial environmental hazards throughout the lead-acid battery lifespan, including production, use, and disposal. The increased awareness of these environmental hazards has raised concerns about lead handling and recycling techniques. Stricter lead management and recycling rules may increase prices for lead-acid battery producers, affecting their operational expenses and overall market competitiveness.
- Sustainability Drive The growing emphasis on sustainable practices and the move to a circular economy has led consumers to prefer electric vehicles powered by lithium-ion batteries. Lithium-ion batteries are regarded as more environmentally benign than lead-acid batteries due to their smaller environmental footprint. This movement in customer tastes toward sustainability may speed the adoption of electric vehicles, posing a challenge to lead-acid batteries’ supremacy in the automobile industry.
Key Trends
- Rising Vehicle Production The automotive industry is experiencing tremendous growth globally, particularly in emerging economies. This increase in automotive manufacturing raises demand for lead-acid batteries in a variety of vehicle types, including motorcycles, passenger automobiles, and commercial vehicles.
- Material ImprovementsScientists are improving the performance of electrode materials such as lead alloys. These developments can increase the battery’s ability to maintain a charge for extended periods of time while also reducing degradation throughout charging and discharging cycles.
- Design and Construction Innovations Modifications to the battery’s design and construction are also being investigated. This could include modifying the internal structure, plate layouts, or electrolyte composition to increase overall battery performance and extend its useable life.
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Global Automotive Lead Acid Battery Market Regional Analysis
Here is a more detailed regional analysis of the global automotive lead acid battery market
Asia Pacific
- Asia Pacific is a substantially dominating region in the automotive lead acid battery market and is anticipated to continue its growth throughout the forecast period. The region serves as a hub for major automotive manufacturers such as China, Japan, South Korea, and India.
- With large domestic automobile markets and strong car manufacturing facilities, these countries rely heavily on lead-acid batteries.
- The automobile market in APAC has expanded dramatically, fueled by reasons such as rising disposable income, rapid urbanization, and substantial infrastructure-building efforts.
- This expansion has significantly increased demand for lead-acid batteries in both the passenger and commercial vehicle categories.
- Furthermore, electric two-wheelers, such as electric scooters and motorcycles, have a significant market share in APAC. Lead-acid batteries are commonly used for two-wheelers due to their low cost and compatibility with their power requirements.
- This widespread usage adds greatly to the overall demand for lead-acid batteries in the region has grown, highlighting their relevance in addressing the energy requirements of numerous automotive applications in the APAC market.
Europe
- Europe is anticipated to be the fastest-growing region during the forecast period. Europe, known for its automotive inventiveness and commitment to environmental conservation, has tremendous clout in the automotive lead-acid battery market.
- Key countries such as Germany, the United Kingdom, and France serve as important car manufacturing hubs, driving up demand for lead-acid batteries in the region.
- The increased emphasis on sustainable mobility and the increasing acceptance of electric vehicles are redefining market dynamics in Europe.
- Lead-acid batteries are being used not only in conventional vehicles but also in hybrid models and auxiliary power systems, extending their utility and relevance in the automotive industry.
- The regional landscape depicts a global market that responds to a variety of regional automotive trends, economic situations, and environmental demands.
- As Europe continues to lead the fight for automotive innovation and sustainability measures, Its impact on the trajectory of the automotive lead-acid battery market remains significant, defining industry dynamics and propelling technological improvements.
Global Automotive Lead Acid Battery MarketSegmentation Analysis
The Global Automotive Lead Acid Battery Market is segmented based on Product, Automotive, Application, End User, and Geography.
Automotive Lead Acid Battery Market, By Product
- SLI Batteries
- Micro hybrid batteries
Based on Product, the market is bifurcated into SLI batteries, and Micro hybrid batteries. SLI batteries are showing significant dominance in the automotive lead acid battery market owing to the wide use of batteries in a variety of automotive applications, including passenger cars, commercial vehicles, motorcycles, and other automotive industries. In addition, the rising global vehicle production, increased acceptance of innovative automotive technology, strict emission restrictions, and the proliferation of electric and hybrid vehicles. As vehicles become more sophisticated and technologically evolved, the reliance on high-performance SLI batteries grows, reinforcing their critical role in the automotive industry.
Automotive Lead Acid Battery Market, By Automotive
- Flooded batteries
- VRLA batteries
Based on the Automotive, the market is bifurcated into flooded batteries, and VRLA batteries. The VRLA batteries are experiencing significant growth in the automotive lead acid battery market. VRLA batteries are specifically used in micro-hybrid automobiles, often known as mild hybrids. These automobiles include innovative features including start-stop systems, regenerative braking, and energy recuperation. These ingenious devices enable hybrid functionality by aiding the internal combustion engine and effectively reducing fuel consumption.
Automotive Lead Acid Battery Market, By End-User
- OEM
- Aftermarket
Based on End-User, the market is bifurcated into Original Equipment Manufacturer (OEM), and Aftermarket. The aftermarket segment is witnessing significant growth in the automotive lead acid battery market owing to the need for battery replacements in automobiles that have outlived their original batteries. As vehicles age and their original batteries reach the end of their operating life, the aftermarket segment plays a critical role in guaranteeing continuing functionality and reliability. This persistent need for replacement batteries not only meets the needs of vehicle owners but also promotes the growth and resilience of the worldwide automotive lead-acid battery industry.
Automotive Lead Acid Battery Market, By Application
- Passenger Vehicles
- Light & Heavy Commercial Vehicles
- Two Wheelers
- Three Wheelers
Based on Application, the market is bifurcated into Passenger Vehicle, Light & Heavy Commercial Vehicles, Two Wheelers, and Three Wheelers. Passenger vehicles are significantly increasing their growth in the automotive lead acid battery market. The increasing global use of passenger automobiles acts as a crucial impetus for the expansion of the automotive lead-acid batteries industry. As the demand for passenger vehicles grows, the reliance on lead-acid batteries to power them remains constant, adding to the overall expansion and resilience of the automotive lead-acid battery market.
Automotive Lead Acid Battery Market, By Geography
- North America
- Europe
- Asia Pacific
- Rest of the world
Based on Geography, the Global Automotive Lead Acid Battery Market is classified into North America, Europe, Asia Pacific, and the Rest of the world. Asia Pacific is a substantially dominating region in the automotive lead acid battery market and is anticipated to continue its growth throughout the forecast period. The region serves as a hub for major automotive manufacturers such as China, Japan, South Korea, and India. With large domestic automobile markets and strong car manufacturing facilities, these countries rely heavily on lead-acid batteries. The automobile market in APAC has expanded dramatically, fueled by reasons such as rising disposable income, rapid urbanization, and substantial infrastructure-building efforts.
Key Players
The “Global Automotive Lead Acid Battery Market” study report will provide valuable insight with an emphasis on the global market. The major players in the market are Environmental Systems Research Institute Inc., Johnson Controls, Exide Technologies, East Penn Manufacturing Co., GS Yuasa Corporation, Panasonic Corporation, EnerSys, Leoch International Technology Limited, C&D Technologies, Inc., Trojan Battery Company, NorthStar Battery Company, among others.
Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.
Automotive Lead Acid Battery Market Recent Developments
- In July 2022, Panasonic Corporation, announced the partnership with Kansas for economic development to propel the electric vehicle (EV) industry in the United States.
- In March 2021, General Motors Company announced the achievement of considerable progress toward the next-generation Ultium chemistry. This achievement was made in preparation for a new cooperative development agreement with Solid Energy Systems, which aims to accelerate the transition to an electric future.
Report Scope
REPORT ATTRIBUTES | DETAILS |
---|---|
STUDY PERIOD | 2021-2031 |
BASE YEAR | 2024 |
FORECAST PERIOD | 2024-2031 |
HISTORICAL PERIOD | 2021-2023 |
UNIT | Value (USD Billion) |
KEY COMPANIES PROFILED | Environmental Systems Research Institute Inc., Johnson Controls, Exide Technologies, East Penn Manufacturing Co., GS Yuasa Corporation, Panasonic Corporation, EnerSys, Leoch International Technology Limited, C&D Technologies, Inc., Trojan Battery Company, NorthStar Battery Company, among others. |
SEGMENTS COVERED | Product, Automotive, Application, End User, and Geography. |
CUSTOMIZATION SCOPE | Free report customization (equivalent up to 4 analysts’ working days) with purchase. Addition or alteration to country, regional & segment scope |
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