Electrifying Horizons: Navigating the Evolution of Lead Acid Battery Markets Toward 2032
The market for lead acid batteries is expected to be worth US$ 54.3 billion in 2022. Lead acid battery sales will expand at a 5.2% CAGR from 2022 to 2032, according to Future Market Insights (FMI). According to the analysis, the worldwide lead acid battery market will be worth more than US$ 90.5 billion by 2032. According to FMI, the AGM battery market will develop fast, with a 6.2% CAGR in 2021.
The lead acid battery market will grow at a 5.2% CAGR
between 2022 and 2032, compared to the 1.2% CAGR recorded from 2016 to 2021,
driven by the rising focus on research & development and investment in the
automotive industry for electric vehicles.
The rise in global demand for energy-efficient solutions is
responsible for growth. With the emergence of electric and hybrid vehicles over
the past few years, the need for lead-acid batteries has steadily increased.
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The lead acid battery market valuation is expected to
reach US$ 54.3 Bn in 2021. Future Market Insights (FMI) analysis has
forecast the lead acid battery sales to increase at 5.2% CAGR between
2021 and 2031. According to the study, the overall market valuation will
top US$ 90.5 Bn by 2031.
As per FMI, the demand for AGM battery is expected to
increase at a high pace, exhibiting 6.2% CAGR in 2021.
According to the market analysis by Future Market Insights,
the expansion of automotive production facilities to cover rural and other
remote areas has led to the increasing demand for lead acid battery. Rapid
technological advancements in production technologies are also projected to
complement market growth over the coming years.
Demand for lead acid battery is increasing with the rise in
the volume of vehicle fleet in recent years. This can be attributed to an
increase in aftermarket sales in regular interims for battery replacement.
The growing requirement has led to mass production and
increased process automation’s importance in the lead acid battery market. The
market is shifting towards industry 4.0 s, leading to the universal adoption of
new production technologies.
There also is an increasing demand from other industries for
the deployment of lead-acid batteries. An increasing number of players focusing
on research and development related to lead acid batteries is anticipated to
have a significant contribution towards market growth in the years to come.
Key Companies Profiled:
- Furukawa
Electric Co., Ltd.
- Hitachi
Chemical Company, Ltd.
- Narada
Power Source Co. Ltd.
- SiteTel
Sweden AB (NorthStar)
- Clarios
- Leoch
International Technology Ltd.
- Yokohama
Batteries Sdn. Bhd.
- Enersys
- Exide
Industries Ltd.
- GS
Yuasa Corporation
- Hoppecke
Batterien GmbH & Co. KG.
- Crown
Battery Corporation
- C&D
Technologies, Inc.
- Coslight
Technology International Group Co. Ltd.
- East
Penn Manufacturing Co.
- Chaowei
Power Holdings Limited.
- Zhangzhou
Huawei Power Supply Technology Co., Ltd.
- B. B.
Battery
- Camel
Group Co., Ltd.
- Shandong
Sacred Sun Power Sources Co. Ltd.
Key Segments Profiled in the Lead Acid Battery Industry
Survey
Lead Acid Battery Market by Product Type:
- Flooded
Battery
- AGM
Battery
- Gel
Battery
Lead Acid Battery Market by Application:
- Lead
Acid Battery for Transportation
- Lead
Acid Battery in Passenger Cars
- Lead
Acid Battery in LCV
- Lead
Acid Battery in HCV
- Lead
Acid Battery in Two wheelers
- Others
- Lead
Acid Battery for Motive Industrial
- Lead
Acid Battery for Stationary Industrial
- Lead
Acid Battery for Commercial
- Lead
Acid Battery for Residential
- Lead
Acid Battery for Grid Storage
- Lead
Acid Battery for Others
Lead Acid Battery Market by Sales Channel:
- Lead
Acid Battery in OEM
- Lead
Acid Battery in Aftermarket
Lead Acid Battery Market by Region:
- North
America Lead Acid Battery Market
- Latin
America Lead Acid Battery Market
- Europe
Lead Acid Battery Market
- Asia
Pacific Lead Acid Battery Market
- Middle
East and Africa (MEA) Lead Acid Battery Market
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