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Powering the Past and Future: The Lead Acid Battery Market

As of 2023, worldwide shipments of lead acid batteries account for a market valuation of US$ 57.1 billion and are estimated to reach US$ 96.5 billion by the end of 2033. This latest Fact.MR research report predicts the global lead acid battery market is to exhibit expansion at 5.3% CAGR over the next ten years.

Batteries have been playing a crucial role in promoting digitization and the electrification of infrastructure around the world is also projected to bolster the demand for different types of batteries over the coming years. Lead acid battery is the first kind of rechargeable battery ever created and has been around for over 100 years.

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Lead Acid Battery Market – Key Takeaways

  • Flooded batteries are expected to double their share in the market owing to flourishing market prospects of commercial and residential backup batteries.
  • Asia Pacific excluding Japan (APEJ) will spur the growth of the lead acid battery market, with nearly 39% share, led by China and India.
  • Absorbent glass mat (AGM) lead acid battery is projected to account for more than 1/3rd of total market value by 2029 end.
  • Stationary industrial lead acid battery is anticipated to triple its market share by the end of the forecast period.
  • The transportation sector is expected to offer significant growth prospects for manufacturers.

Lead Acid Battery Market – Key Driving Factors

  • Strong efforts of fast developing economies towards carbon footprint reduction, fueling electric vehicle sales, are significantly contributing towards market growth.
  • Upsurge in production of conventional passenger vehicles and two-wheelers is propelling the demand for lead acid batteries.

Lead Acid Battery Market – Key Restraints

Stringent regulations on lead emissions and growing inclination towards lithium ion batteries are challenging rapid growth of the lead acid battery market.

Competition Landscape

The key players in the lead acid battery market include Furukawa Electric Co. Ltd, Hitachi Chemical Company, Narada Power Source Co. Ltd, NorthStar, Leoch International Technology Ltd, Crown Battery Corporation, Exide Industries Limited, and GS Yuasa Corporation, among others. The prominent manufacturers are focusing on acquisitions as a key strategy to widen their global footprint.

Key Segments of Lead Acid Battery Industry Research

  • By Application :
    • Transportation
      • OEM Transportation
        • PCs
        • LCVs
        • HCVs
        • Two Wheelers
        • Others
      • Aftermarket Transportation
        • PCs
        • LCVs
        • HCVs
        • Two Wheelers
        • Others
    • Motive Industrial
      • OEM Motive Industrial
      • Aftermarket Motive Industrial
    • Stationary Industrial
      • OEM Stationary Industrial
      • Aftermarket Stationary Industrial
    • Commercial
      • OEM Commercial
      • Aftermarket Commercial
    • Residential
      • OEM Residential
      • Aftermarket Residential
    • Grid Storage
      • OEM Grid Storage
      • Aftermarket Grid Storage
    • Others
      • OEMs
      • Aftermarket
  • By Product Type :
    • Flooded
    • AGM (Absorbent Glass Mat)
    • Gel
  • By Region :
    • North America
    • Latin America
    • Europe
    • APAC
    • MEA

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