Global Lead Acid Batteries Market Size 2024, Forecast To 2033

11 Mar, 2024

The lead acid batteries market has undergone rapid growth, surging from $28.86 billion in 2023 to $32.02 billion in 2024, with a compound annual growth rate (CAGR) of 11.0%. The growth in the historical period is attributed to strong economic growth in emerging markets, the rapid expansion of the automotive industry, and a rising demand for renewable energy. Projecting into the future, the market is expected to sustain rapid growth, reaching $47.24 billion in 2028, with a CAGR of 10.2%. The forecasted growth is associated with an increasing demand for electric vehicles and the expansion of data center infrastructure. Key trends for the forecast period include the development of graphene-enhanced lead acid batteries, the use of carbon additives in lead acid battery electrodes, a heightened focus on valve-regulated stationary lead-acid batteries, the introduction of battery analyzers for testing lead-acid batteries, and strategic partnerships and collaborations among market players.

Global Lead Acid Batteries Market Key Driver

The lead-acid batteries market experiences growth attributed to the increasing demand in the automobile industry. The surge in research and development activities in the automotive lead-acid battery sector, coupled with government initiatives promoting electric vehicles, contributes to the overall growth of the global automotive market. As of October 2022, the Indian government proposes incentives of US$ 3.5 billion over five years until 2026 to encourage the production and export of clean technology vehicles. Furthermore, initiatives like the FAME-II plan have supported thousands of electric vehicles and buses, emphasizing the growing adoption of lead-acid batteries in the electric vehicle sector. The combination of rising demand in the automobile industry and government efforts to promote electric vehicles is anticipated to drive the lead-acid battery market, influencing the market size in 2023, with a sustained impact in 2024 and 2028.

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Global Lead Acid Batteries Market Segments

The lead acid batteries market covered in this report is segmented –
1) By Type: Stationary, Motive And Starting, Lighting And Ignition (SLI)
2) By Technology: Basic Lead-Acid Battery, Advanced Lead-Acid Battery
3) By Construction Method: Flooded, Valve Regulated Lead-Acid (VRLA)
4) By End User: Transportation, Industrial, Commercial And Residential, Utilities
By Geography:The regions covered in the lead acid batteries market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain Asia-Pacific was the largest region in the global lead-acid batteries market in 2023. The regions covered in the lead acid batteries market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

Major Lead Acid Batteries Industry Players

Chaowei Power Holdings Limited, GS Yuasa Corporation, Clarios International Inc, EnerSys, East Penn Manufacturing Co, Camel Group Co., Ltd, Zhejiang Narada Power Source Co. Ltd., Leoch International Technology Ltd, Exide Industries Ltd, Panasonic Corporation, Amara Raja Batteries Limited, Guangdong Techfine Electronic Co., Ltd., Kaiying Power Supply & Electrical Equip Co., Ltd., Fujian Jiage Power Tech Co., Ltd., Jujiang Power Technology Co., Ltd., Suzhou Foberria New Energy Technology Co., Ltd., Xiamen Songli Import and Export Co., Ltd., Manbat, AceOn Group, ENIX Energies, Ultracell, Deutsche Power, Ads-tec GmbH, AEG & Behin T, Akasol Engineering GmbH, AKTEX INC, AKOM JSC, The Ural Plant of Chemical Reagents, SOLARUS ENERGY Ltd, Yuntong Power Co.,Ltd, Krascrystal Co., Ltd, Veaga-Teplo Ltd, C&D Technologies, Inc, CSB Energy Technology Co., Ltd., Koyo Battery Co., Ltd, Astra Otoparts, Robert Bosch GmbH, Stryten Salina, LLC, Industrias Tudor Sp De Bateriais Ltda, Grupo Craft, Acumuladores Moura S.A., Sociedad Química y Minera (SQM) Salar S.A., Baterias Willard S.A., Dubatt Battery Recycling LLC, Sharaf Group, Middle East Battery Company (MEBCO), Seri Industrial S.p.A., Classic Power Batteries Trading LLC, Lento Industries Private Limited, Sunlight Group, E Schnapp Co Works Ltd, Shmuel De-Leon Energy, Ltd., Dixon Batteries, Enertec Batteries Pty Ltd, First National Battery, Renergy Technologies, Sunfor Technologies (PTY) Ltd

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Lead Acid Batteries Market Overview

Lead-acid batteries are bigger and store a high amount of energy. These batteries are generally used in automobiles, uninterruptible power supply (UPS), telecommunications, and inverters attributed to their requirement for a high-power supply.

Lead Acid Batteries Global Market Report 2023 provides data on the global lead acid batteries market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The lead acid batteries market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.