The global Automotive Lead Acid Battery Market is anticipated to attain a valuation of US$ 28.24 billion in 2023 and is expected to reach US$ 47 billion by 2033, expanding at a CAGR of 5.2% from 2023 to 2033.
The automotive lead-acid battery market is a significant sector within the automotive industry, providing essential energy storage solutions for vehicles. Here’s an overview of key aspects of this market:
- Definition and Functionality: Lead-acid batteries are rechargeable batteries widely used in automotive applications to provide starting power, lighting, and ignition (SLI) for internal combustion engine vehicles. These batteries consist of lead plates immersed in an electrolyte solution of sulfuric acid.
- Market Segmentation: The automotive lead-acid battery market can be segmented based on battery type (conventional flooded batteries, enhanced flooded batteries, absorbent glass mat (AGM) batteries, and gel batteries), vehicle type (passenger cars, commercial vehicles, two-wheelers), application (starter batteries, auxiliary batteries), and geography (regions or countries with varying levels of automotive demand).
- Key Players: Major players in the automotive lead-acid battery market include companies like Johnson Controls International plc (now Clarios), Exide Technologies, GS Yuasa Corporation, East Penn Manufacturing Company, and C&D Technologies, Inc. These companies specialize in the design, manufacturing, and distribution of lead-acid batteries for automotive OEMs and aftermarket channels globally.
- Technological Trends: Technological advancements in lead-acid batteries focus on improving performance, durability, and reliability while meeting regulatory requirements for vehicle emissions and safety standards. Key trends include the development of AGM and gel battery technologies for enhanced cycling capability and vibration resistance, innovations in plate design and active material formulations for higher cranking power and energy density, and integration of battery management systems (BMS) for optimal performance and longevity.
- Market Drivers: Factors driving the automotive lead-acid battery market include increasing vehicle electrification and connectivity, growth in automotive aftermarket demand for battery replacement and maintenance services, expansion of the automotive fleet in emerging markets, and the cost-effectiveness of lead-acid batteries compared to alternative energy storage technologies like lithium-ion batteries.
Unlock growth potential with industry expertise. Request our market sample report:
- United States automotive lead acid battery market is expected to grow with a CAGR of 5.1% during the forecast period.
- The market in China is expected to grow with a CAGR of 5.5% during the forecast period.
- By vehicle type, passenger vehicle segment is projected to dominate the automotive lead acid battery market. It is expected to grow with a significant CAGR of 5.4% during the forecast period.
- By technology, ICE battery segment is expected to grow with an impressive CAGR of 10% throughout the forecast period.
“The reliability and affordability of lead batteries an rising sales of electric vehicles are expected to drive market growth during the forecast period,” – says Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.).
The automotive lead acid battery market is extremely competitive, with various key industry players investing heavily in manufacturing these batteries.
The key industry players are Clarios, GS Yuasa Corporation, Panasonic Corporation, Leoch International Technology Limited, Exide Industries Ltd., EnerSys Inc., East Penn Manufacturing Company, Exide Technologies Inc., CSB Battery Company Limited.
Some recent developments in the market are:
Key market players are leveraging organic growth strategies like acquisition, mergers, tie-ups, and collaboration to bolster their product portfolio. This is expected to propel the global automotive lead acid battery market.
- In January 2021, EnerSys announced a collaboration with TravelCenters of America (TA) to provide Odyssey Performance and NorthStar PRO Group 31 lead-acid batteries specifically designed for heavy-duty applications.
- In December 2021, GS Yuasa Corporation announced its plans for expansion in the motorcycle lead-acid battery market.
- On July 13, 2022, Panasonic Corporation, the largest manufacturer of lithium-ion batteries in the world, joined forces with Kansas for economic development with the aim of driving forward the electric vehicle (EV) industry in the United States.
- On March 13, 2021, General Motors Company made significant progress in its development of the next-generation Ultium chemistry. This advancement was made in anticipation of a new joint development agreement with Solid Energy Systems, aimed at expediting the transition towards an electric future.
Elevate Your Business Strategy! Purchase the Report for Market-Driven Insights:
Market Segmentation by Category
By Battery Type
- Enhanced Flooded
By Vehicle Type
- Passenger Car
By Sales Channel
- North America
- Latin America
- South Asia
- East Asia
- Middle East & Africa
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
For Sales Enquiries: email@example.com
LinkedIn| Twitter| Blogs | YouTube