WASHINGTON, May 31, 2023 (GLOBE NEWSWIRE) -- The Global Automotive Lead Acid Battery Market is valued at USD 24.27 Billion in 2022 and is projected to reach a value of USD 42.7 Billion by 2030 at a CAGR (Compound Annual Growth Rate) of 7.4% over the forecast period 2023-2030.
The automotive lead acid battery industry is one of the most vital economic sectors, and steady growth is anticipated. Despite the industry's unrest, a variety of factors might influence its growth or decline. To provide a complete understanding of the industry to the readers, this research evaluates current trends and projects' future developments. It also includes information on the key companies in the market and their growth plans.
The research offers a complete analysis of global suppliers and producers, as well as their current condition and potential in the future. It also describes the factors that are driving demand for automotive lead-acid batteries on a worldwide scale, such as increased investment needs, evolving technology, and new regulations.
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Market Overview
According to Vantage Market Research, some key factors are anticipated to accelerate the automotive lead acid battery market growth over the forecast period. One of the important factors favorably affecting the demand for automotive lead acid batteries is the rising popularity of electric automobiles and hybrid electric vehicles. Because of their high cold-cranking amps, low cost, and dependability, lead-acid batteries are extensively utilized in these vehicles.
We forecast that flooded lead-acid batteries in the automotive lead-acid battery market sales will account for more than 35% of total sales by 2030 as they are less expensive than other types of lead-acid batteries and are more accessible to a larger variety of users. Furthermore, flooded lead-acid batteries are strong and capable of handling high-current applications.
The Asia-Pacific Region dominates the market, and this trend of dominance will continue throughout the projection period. Factors like significant and developing car industry, notably in China and India, and the region has favorable government policies and laws that encourage the use of electric and hybrid vehicles. The rising demand for energy storage systems for renewable energy projects is driving up the price of automobile lead acid batteries.
Top Players in the Global Automotive Lead Acid Battery Market
- Johnson Controls International PLC
- Exide Technologies
- GS Yuasa Corporation
- East Penn Manufacturing Co.
- EnerSys
- Camel Group Co. Ltd.
- Fengfan Co. Ltd.
- Leoch International Technology Ltd.
- C&D Technologies, Inc.
- The Furukawa Battery Co., Ltd.
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Market Dynamics
Rising Demand for Passenger Vehicles to Drive the Market:
The passenger vehicle sector dominates the automotive lead acid battery market, among other categories. This industry is likely to expand as global car manufacturing rises. Furthermore, the growing demand for high-performance, long-lasting batteries has contributed to the expansion of this category. The increase in passenger vehicle sales in developing nations fuels the expansion of the automotive lead acid battery industry.
Increasing Use of Commercial Vehicles to Promote Market Growth:
Commercial vehicles, such as trucks, buses, and heavy-duty equipment, are necessary for transportation and infrastructure, and their reliance on lead-acid batteries for power and stability drives demand. Moreover, the rising demand for electric and hybrid cars is opening up new potential for the business. The automotive lead acid battery industry is expected to develop further as renewable energy programs and environmental concerns drive innovation.
Top Trends in The Global Automotive Lead Acid Battery Market
- One trend that Vantage Market Research (VMR) expects to see is increased demand for rising safety features in the automotive lead acid battery market. Manufacturers are focused on creating more efficient and robust safety measures in response to growing concerns about the safety issues connected with standard lead acid batteries. Improved vent caps, explosion-proof housing, and pressure relief valves are among the safety improvements. Furthermore, the increased emphasis on safety has resulted in the emergence of safer battery chemistries, such as sealed lead-acid batteries, which are projected to acquire substantial commercial momentum. These advances are projected to promote lead-acid battery use in the automotive sector in the coming years.
- Another trend that VMR predicts will continue in the automotive lead acid battery mark is the shift toward higher-capacity batteries due to the growing demand for electric vehicles and the need for extended driving ranges. Manufacturers are concentrating their efforts on creating new technologies that can boost the energy density of lead-acid batteries, resulting in a longer lifespan and higher efficiency.
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Top Report Findings
- Based on Battery Type, the automotive lead acid battery market is divided into two categories: flooded and sealed lead acid batteries. The most popular form of car battery is a flooded lead acid battery, which requires regular maintenance, such as adding water to the electrolyte solution. Sealed lead acid batteries require little maintenance and last longer than flooded batteries. Because of their ease and dependability, sealed lead acid batteries are in high demand.
- Based on Technology, the automotive lead acid battery industry is further subdivided by technology, with improved flooded batteries, valve-controlled lead acid batteries, and others being the most common. Enhanced flooded batteries are built with specialized chemicals to increase the battery's longevity and performance. Maintenance-free valve-controlled lead acid batteries are extensively utilized in hybrid and electric automobiles. Other automobile technologies, such as absorbent glass mat batteries, are also gaining traction.
- Based on Vehicle Type, the automotive lead acid battery market is divided into three categories: passenger automobiles, commercial vehicles, and two-wheelers. Passenger automobiles are the market's largest sector, owing to the strong demand for vehicles in emerging nations. Commercial cars require heavy-duty batteries to power their electrical systems, resulting in a sizable market for automotive lead-acid batteries. Two-wheelers are also on the rise, thanks to the increased popularity of electric scooters and motorbikes.
- Based on Distribution Channel, the automotive lead acid battery market is divided into sales channels, which include OEMs, aftermarket stores, and internet sales. The principal sales channel is original equipment manufacturers (OEMs), who supply batteries to automakers for use in new automobiles. Aftermarket merchants provide replacement batteries for vehicles that are already on the road, and online sales are growing due to the convenience and accessibility of buying batteries online.
Top 10 Players Generate More Than 60% of the Global Automotive Lead Acid Battery Market Revenue.
The report also found that the largest players in the automotive lead acid battery market are Johnson Controls International PLC, Exide Technologies, and GS Yuasa Corporation. These companies are expected to benefit from increased demand for their products and services, as well as growing investments in new products. Other major players include East Penn Manufacturing Co., EnerSys, Camel Group Co. Ltd., Fengfan Co. Ltd., Leoch International Technology Ltd., C&D Technologies, Inc., The Furukawa Battery Co., Ltd., and others. As per the latest report published by Vantage Market Research, the top 10 companies are responsible for generating more than 60% revenue of the market.
Flooded Lead Acid Battery Category in Automotive Lead Acid Battery Market to Generate Over 35% Revenue
Vantage Market Research has analyzed the market for automotive lead acid batteries to understand its current state and potential future growth factors. For better understanding, based on battery type, the automotive lead acid battery market is divided into: flooded and sealed lead acid batteries.
During the forecast period, the market for flooded lead acid batteries is anticipated to experience the highest CAGR due to their low cost and good dependability. Also, these batteries are conveniently accessible and maintained.
On the other hand, the sealed lead acid batteries category is anticipated to grow significantly over the forecast period because they are maintenance-free and highly reliable, making them a better choice for automotive applications, including cars, trucks, and motorcycles. These batteries are made to withstand the vibration and shock associated with driving and can provide consistent power for starting and running the vehicle's accessories. Additionally, sealed lead acid batteries are environmentally friendly and recyclable, making them an attractive option for vehicle manufacturers and consumers alike.
Browse market data Tables and Figures spread through 175 Pages and in-depth TOC on Automotive Lead Acid Battery Market Forecast Report (2023-2030).
Global Automotive Lead Acid Battery Market Segmentation
By Battery Type
- Flooded Battery
- Enhanced Flooded Battery
- Sealed Lead Acid Battery
- Valve Regulated Lead Acid BatteryDrugs
By Technology
- Advanced Lead Acid Battery
- Basic Lead Acid Battery
- Lithium Ion Battery
By Vehicle Type
- Passenger Cars
- Commercial Vehicles
- Two-wheelers
By Distribution Channel
- Original Equipment Manufacturers (OEMs)
- Aftermarket Passenger Cars
By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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Scope of the Report:
| Report Attributes | Details |
| Market Size in 2022 | USD 24.27 Billion |
| Revenue Forecast by 2030 | USD 42.7 Billion |
| CAGR | 7.4% from 2023 to 2030 |
| Base Year | 2022 |
| Forecast Year | 2023 to 2030 |
| Key Players | Saft Groupe S.A, Northstar Battery Company LLC, East Penn Manufacturing Company, Robert Bosch GmbH, Johnson Controls Inc, Panasonic Corporation, BAE Batterien GmbH, Triathlon Batteries, Trojan Battery Company, Samsung Sdi Company Limited. |
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