A lead-acid battery is made up of lead and lead oxide plates, immersed in a sulphuric acid solution. It transforms chemical energy into electrical power during the discharge cycle. These batteries have significant use in automobiles for starting, lighting, and ignition (SLI) purposes. It also supplies voltage to vehicle accessories such as air conditioners, radio, music players, wipers, and charging plugs. Different types of lead-acid batteries are used in automobiles. For example, flooded lead-acid batteries contain free electrolytes to move around the battery encasement, upon charging the acid and lead plates react to electricity. The flooded lead-acid battery is cheaper than VRLA batteries in terms of value and ideal for traction, starter, lighting, and ignition (SLI).
COVID-19 Impact Analysis
- Government across major countries have announced lockdown and business shutdown due to the COVID-19. All the manufacturing of automobiles has been halted due to the lockdown which affected the demand for the automotive lead-acid battery. Moreover, the unavailability of raw materials is further disrupted the manufacturing of batteries. Furthermore, social distancing norms, other restrictions, unavailability of labor for battery production and supply impacted the market. The sale of electric vehicles has increased than the previous year which is expected to drive the automotive lead-acid battery in the post-pandemic phase during the pandemic. The automotive lead-acid battery market is an evolving sector due to the rise in demand for automobiles.
Top Impacting Factors
The rise in vehicle production, the development of advanced & maintenance-free batteries, and electronic application in vehicles are expected to drive the growth of the market.
However, the demand for lithium-ion batteries and the risk of battery explosion due to overcharging can hamper the product growth.
Moreover, the rise in demand for electric vehicles, and stringent government regulations regarding fuel emission act as an opportunity.
Market Trends
Demand for electric vehicles
- The advancement of alternative fuel vehicles has increased the demand for battery-operated and hybrid vehicles. In addition, to reduce crude oil consumption, automotive emissions, and air pollution, government authorities across the globe have adopted and implemented favorable policies, which promote the use of electric vehicles.
- For instance, Mahindra & Mahindra announced in 2021 that they are planning to invest $ 402 million in electric vehicles in the next 3 years and has set a goal to put 500,000 electric vehicles on Indian roads by 2025. Thus, all these new development in the electric vehicles sector act as an opportunity for the growth of the automotive lead-acid battery market.
Demand for lithium-ion batteries
- Lithium-ion batteries are expected to witness substantial growth in the coming future, owing to the growing demand for the storage of electricity in electric vehicles. These batteries are lightweight and compact, which makes them the strongest contenders in the battery energy storage market. Moreover, lithium-ion batteries use non-aqueous electrolytes that offer high operating voltages compared to lead-acid batteries and sodium-sulfur batteries, which use aqueous electrolytes. Thus, it is expected to hamper the growth of the automotive lead-acid battery market.
Key Benefits of the Report:
- This study presents the analytical depiction of the automotive lead-acid battery market along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with the challenges of the automotive lead-acid battery market.
- The current market is quantitatively analyzed to highlight the automotive lead-acid battery market growth scenario.
- The report provides a detailed automotive lead-acid battery market analysis based on competitive intensity and how the competition will take shape in the coming years.
Questions Answered in the Report
- Which are the leading market players active in the automotive lead-acid battery market?
- What would be the detailed impact of COVID-19 on the market?
- What current trends would influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the automotive lead-acid battery market?
- What are the projections for the future that would help in taking further strategic steps?
Automotive Lead Acid Battery Market Report Highlights
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 Key Market Players | GS Yuasa International Ltd, Exide Technologies, Trojan Battery Company, Samsung SDI Company Limited, NorthStar Battery Company LLC., Johnson Controls, Reem Batteries & Power Appliances Co. SAOC, C&D TECHNOLOGIES, Robert Bosch GmbH, EnerSys Inc |
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