WASHINGTON, Aug. 23, 2023 (GLOBE NEWSWIRE) -- According to Vantage Market Research the Global Automotive Lead Acid Battery Market is expected to reach a value of USD 12.5 Billion in 2022. The Automotive Lead Acid Battery Market is projected to showcase a CAGR of 2.5% from 2023 to 2030 and is estimated to be valued at USD 14.8 Billion by 2030.
The Automotive Lead Acid Battery Market represents a pivotal segment within the automotive industry, catering to the power needs of various vehicles. Lead acid batteries have long been the go-to choice for automotive applications, owing to their cost-effectiveness, reliability, and robust performance. As the world progresses towards electrification, these batteries continue to play a significant role, especially in conventional vehicles, hybrids, and start-stop systems. The market's growth is underpinned by the expanding automotive sector, rising vehicle production, and the ongoing demand for fuel-efficient transportation solutions.
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Top Report Findings:
- Market projected to grow at a CAGR of 2.5% during the forecast period.
- Asia-Pacific dominates the market, driven by the expanding automotive industry in China and India.
- AGM (Absorbent Glass Mat) batteries gaining popularity due to their maintenance-free characteristics.
Top Companies in The Global Automotive Lead Acid Battery Market
- Fengfan Co. Ltd.
- Camel Group Co. Ltd.
- Mutlu Battery
- HOPPECKE Batterien
- GS Yuasa Corporation
- EnerSys
- Clarios
- C&D Technologies
- Crown Battery Manufacturing
- Amara Raja Batteries
- Leoch International Technology
- FIAMM Energy Technology
- Johnson Controls
- Exide Technologies
- East Penn Manufacturing
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Automotive Lead Acid Battery Market Dynamics:
- Growing Vehicle Production: The continuous increase in global vehicle production, particularly in emerging economies, drives the demand for lead acid batteries to power various vehicle components.
- Aftermarket Demand: The replacement and aftermarket segment for lead acid batteries is substantial, contributing to sustained market growth. As vehicles age, their batteries require replacement, bolstering market demand.
- Cost-Effectiveness: Lead acid batteries remain economically viable compared to alternative technologies, making them a preferred choice for vehicles with budget constraints.
- Versatility: These batteries find utility in a wide range of vehicles, from passenger cars to commercial vehicles and two-wheelers, further propelling their market prospects.
- Environmental Concerns: However, the market is also grappling with the environmental impact of lead-acid batteries due to their lead content, pushing manufacturers to explore more sustainable solutions.
Top Trends in Global Automotive Lead Acid Battery Market:
- Enhanced Performance: Manufacturers are investing in research and development to improve the performance metrics of lead acid batteries, extending their cycle life and overall efficiency.
- Advanced Manufacturing Processes: Innovations in manufacturing techniques are resulting in batteries with reduced maintenance requirements and better durability.
- Recycling Initiatives: As environmental consciousness rises, there's a growing emphasis on battery recycling, creating a more circular economy for lead acid batteries.
- Integration of IoT: The incorporation of IoT technology allows for better battery monitoring, leading to optimized charging, improved diagnostics, and enhanced user experience.
Global Automotive Lead Acid Battery Market Segmentation
By Product
- SLI Batteries
- Micro Hybrid Batteries
By Type
- Flooded Batteries
- Enhanced Flooded Batteries
- VRLA Batteries
- Customer
- Original Equipment Manufacturers (OEMs)
By End-User
- Passenger Cars
- LCVs/HCVs
- Two Wheelers
- Three Wheelers
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Challenges:
- Environmental Regulations: Stricter regulations on lead content and disposal practices pose a challenge to manufacturers and may necessitate costly process changes.
- Competition from Alternatives: Emerging alternative battery technologies threaten to erode the market share of lead acid batteries, compelling manufacturers to innovate and differentiate.
Opportunities:
- Rising Electric Vehicle Segment: The surge in electric vehicle adoption opens avenues for lead acid batteries in supporting auxiliary systems and functions.
- Recycling Investments: Investing in efficient recycling processes can position manufacturers favorably, catering to the demand for sustainable solutions.
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Recent Development
- In June 2023, Clarios announced the opening of a new manufacturing plant in Mexico. The plant will produce AGM batteries for the automotive industry.
- In July 2023, EnerSys announced the launch of its new ODYSSEY Extreme battery. The battery is designed for heavy-duty vehicles and is said to offer superior performance and durability.
- In August 2023, East Penn Manufacturing Company announced the expansion of its manufacturing capacity in the United States. The expansion is expected to create 100 new jobs.
Key Questions Answered in the Report:
- How is the market projected to grow in terms of value and volume over the forecast period?
- What are the significant market drivers and their impact on market growth?
- How do lead acid batteries compare with emerging battery technologies in terms of performance and sustainability?
- What role does aftermarket demand play in the overall market scenario?
- How are manufacturers addressing environmental concerns related to lead acid batteries?
- Which regions are expected to witness the highest growth, and what factors contribute to this trend?
- What strategies are key market players employing to stay competitive and maintain their market presence?
- How are advancements in manufacturing techniques influencing battery performance and durability?
Scope of the Report:
| Report Attributes | Details |
| Market Size in 2022 | USD 12.5 Billion |
| Revenue Forecast by 2030 | USD 14.8 Billion |
| CAGR | 2.5% from 2023 to 2030 |
| Base Year | 2022 |
| Forecast Year | 2023 to 2030 |
| Key Players | Johnson Controls, Exide Technologies, East Penn Manufacturing, GS Yuasa Corporation, EnerSys, Clarios, C&D Technologies, Crown Battery Manufacturing, Amara Raja Batteries, Leoch International Technology, Fengfan Co. Ltd., Camel Group Co. Ltd., Mutlu Battery, HOPPECKE Batterien, FIAMM Energy Technology |
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Regional Analysis:
In North America, the Automotive Lead Acid Battery Market demonstrates robust growth driven by the substantial automotive sector in countries like the United States and Canada. The well-established automotive industry and a large vehicle fleet contribute to steady replacement demand for lead acid batteries. Moreover, the region's inclination towards sustainable practices has led to increased emphasis on recycling and responsible battery disposal, pushing manufacturers to align with environmental norms.
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