Lead Acid Battery Market Size, Share and Global Trend By Type (Flooded Lead Acid Batteries, Sealed Lead Acid Batteries), By End User (Automotive, Oil & Gas, Utilities, Telecommunications, Construction, Marine), By Application (Portable-Rechargeable, Stationary, Motive/Traction) and Geography Forecast till 2023-2030

The established and most widely used batteries across the world over a century majorly find its application in automotive (starting, lighting and ignition) UPS, submarines standby and emergency power for electrical installation. It is one of the oldest types of rechargeable battery invented in 1859 which is most popular due to their easy availability and competitive price index. The growing demand for electric vehicles, increase in use of uninterrupted power supply for critical power applications will boost the growth of the lead-acid battery. The lead acid battery comprises two lead plates, a positive plate covered with a paste of lead oxide and a negative made of sponge lead with an insulating material (separator) between them. The plates are submerged in an electrolyte consisting water and sulphuric acid which store the charge.

The reliability and low cost make it suitable in many consumer and industrial applications. Processing and recycling of lead-acid batteries account more percentage as compared to lithium ion. The rise in the use of electrical equipment such as mobile phones, power banks, electronic gadgets along with advanced marine propulsion technology, higher consumption of elevators across the globe majorly requires energy storage system which is driving Lead Acid Battery Market.

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Lead acid batteries are generally broken down into two main categories i.e. Flooded or Wet Cells and Sealed Lead Acid Batteries (SLA). The cost-effective solution and the least cost per amp-hour make flooded cells useful in starting, lighting and igniting (SLI) in the automotive industry. Absorbent Glass Matt and Gel Cell (gelified electrolyte) come under the category SLA batteries. They are commonly found in many applications such as UPS, alarm and telecommunications industries, golf carts and trundlers, mobility vehicles, performance automotive and much more.

Electric Vehicles (EV) are next generation transportation utility which will stimulate the growth of lead acid batteries. The changing attitude of automakers for clean and sustainable mobility has certainly made a great impact on the rise of the EV market that requires batteries for its operation. Also the rise in demand for reliable and flexible power supply, worldwide increased density of vehicles, expansion of industries in remote areas which result in the growth of lead acid battery market. Lead batteries are accepted worldwide due to its low cost and sustainable in most of the application which drives its market.

Lead acid batteries are heavier and hold low specific energy, poor weight to energy ratio which makes them bulky and less efficient which inhibits its growth. Lithium-ion Battery (LIB) is the closest competitor of Lead acid batteries. LIB is more advanced and well developed possessing the largest specific energy per weight as compared to lead-acid batteries. Proper processing requires for its effective recycling due to hazardous lead and sulphuric acid content.

KEY PLAYERS COVERED

The top manufacturers of the lead acid batteries are Excide Industries Ltd., Luminous Power Technologies Pvt. Ltd., EnerSys, CSB Battery, East Penn Manufacturing, Sebang Global Battery, FIAMM, HBL Power Systems Ltd., Johnson Controls, Amara Raja Batteries Ltd., Su-Kam Power Systems Ltd., Okaya Power Pvt. Ltd., Trojan Battery Corporation, and North Star Battery.

SEGMENTATION

REGIONAL ANALYSIS

The lead-acid battery market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The Asia Pacific is the largest market for lead-acid battery due to the great potential of development in South Asia and China, which are the major countries pushing for e-mobility projects. Lack of grid infrastructure, a large gap in production-supply of electricity, demand for a continuous and reliable source of energy will stimulate the lead-acid battery market in the Asia Pacific.

Already tightened pollution standard and finding an alternative source in Europe seems a great market for a lead-acid battery. Public transportation utilities converting into an electric source and higher recycling rate in Europe will stimulate the lead acid battery market. Demand for lead acid battery market is expected to increase in North America due to higher investment in wind, solar, utility storage, hybrid vehicles and hybrid marine propulsion. The increase in exploration activities, prompt use of hybrid propulsion due to rising concern over marine pollution, shifting trends towards electric forklift in MEA will stimulate overall growth of lead acid batteries in the region.