Report Code: A05962 | Pages: 301 | Jan 2020 | 19129 Views | ||
Author(s) : Krunal Y , Eswara P | Tables: 164 | Charts: 64 |
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Request Now !The global lead–acid battery market size was valued at $39.7 billion in 2018, and is projected to reach $59.7 billion by 2026, growing at a CAGR of 5.24% from 2019 to 2026.
A lead cell is made from three basic components, which are anode, cathode, and electrolyte; where the anode is the negative terminal, cathode is positive terminal, and electrolyte connects both these terminals to drive an electrochemical reaction to produce electricity. A battery that is composed of sponge metallic lead anode, lead-dioxide cathode, and sulphuric acid solution electrolyte is called a lead–acid battery. It is the first battery which is use for commercial applications. It contains toxic lead but can be recycled.
The global lead–acid battery industry is growing significantly across the globe and it is likely to register a CAGR of 5.2% during the forecast period. Some of the factors that surge the demand for lead–acid batteries are growing SLI applications in the automotive industry, growth in renewable energy production, and high demand for energy storage devices. Expansion of the telecom industry in countries such as the U.S., Brazil, India, and the UK is leading to greater need for UPS systems as a power back up, which leads to superior adoption of lead–acid batteries as a cost-competitive energy. However, increasing adoption as well as popularity of lithium-ion batteries hampers the market growth to a great extent.
Lithium-ion batteries are the major alternatives to lead–acid batteries, as they have greater benefits. Therefore, these factors are anticipated to challenge global lead–acid battery market growth during the forecast period. Major technology giants including Google and Samsung are looking forward to expanding their data centers to simplify data complexities. Hence, leading to rise in need for UPS systems in data centers across the globe, which may create healthy growth opportunities to the global lead–acid market during the forecast period. Expansion of data centers and resulting demand for heavy weight lead–acid batteries is the key global lead–acid battery market trend observed in the recent years.
The global lead–acid battery market is segmented on the basis of product, construction method, application, and region. By the product, it is segmented into SLI, stationary, and motive. By construction, it is bifurcated into the flooded lead–acid battery and valve regulated sealed lead–acid battery (VRLA). By application, the global lead–acid battery market divided across automotive, UPS, telecom, and others. The automotive segment is further divided into passenger cars, electric bikes, and transportation vehicles. Region wise, it is studied across North America, Europe, Asia-Pacific, and LAMEA.
Among all regions, Asia-Pacific was the largest regional market in 2018 and is expected to be the largest during the forecast period. High demand for cost-effective energy storage devices, active participation of Asian countries in mandatory renewable energy targets, and growth in population, and rise in demand for UPS systems mainly drive the growth of the lead–acid battery market. Moreover, flourishing automotive production across the globe further contributes to the growth of this market.
The major player studied and profiled in this market are EnerSys, Exide Industries, Crown Battery, East Penn, HOPPECKE, NorthStar, Hitachi Chemical, Teledyne Technologies, Hankook AltasBX, and C&D Technologies.
Global Lead–Acid Battery Market, by Product
By product, the SLI segment was accounted for the largest global lead–acid battery market share in 2018. The primary advantage of SLI batteries is long cycle-life and weight reduction in vehicles. Therefore, rise in vehicle sales drives the growth of SLI batteries as a cost-effective energy source. As per an article published by Elsevier B.V. in 2017, the demand for SLI batteries is expected to increase for many small and cheap ICE vehicles, especially in developing countries such as India, Indonesia, and China. This can be attributed to the lack of strict regulatory concerns governing the use of vehicle batteries and issues of CO2 emission penalties. Furthermore, these batteries are considered as a cost-effective source of energy by vehicle owners, who replace batteries after a specific time instead of buying expensive alternatives, such as lithium-ion battery, available in the market
Global Lead–Acid Battery Market, by Construction Method
By construction method, the flooded battery segment emerged as the global leader over other construction methods. The demand for flooded lead–acid batteries is also high in diesel-electric submarines to power electric motors and nuclear submarines as an emergency power backup. Therefore, increasing marine trade activities are likely to offer healthy growth opportunities for flooded lead–acid batteries during the forecast period. The use of these batteries in forklift trucks is also rising significantly in response to their cost-effective nature, as forklift trucks are mainly used in the material handling industry, where productivity and low cost are of immense importance.
Global Lead–Acid Battery Market, by Application
By application, the automotive segment dominated the global market in 2018. Balanced supply demand gap in the automotive industry, trend for electric vehicles, and demand for cost competitive energy sources are the major factors that drive the growth of lead battery market.
Global Lead–Acid Battery Market, by Region
Asia-Pacific is the largest regional market in this and accounted for around 40% of the total share in 2018. The countries that are key contributors to Asia-Pacific include China, India, Japan, South Korea, and Australia. Some of the factors that drive the growth of this region include high automotive production and sales, rapid industrialization, rise in population, and surge in demand for UPS systems. Revenue for lead–acid batteries in Asia-Pacific mainly comes from the automotive sector, owing to strong demand for passenger cars, coupled with rising awareness and adoption of electric vehicles. The electric vehicle segment in the automotive sector is developing at a significant pace to reduce carbon footprints. The lead–acid battery is considerably used in electric vehicles and its adoption rate is growing gradually.
Lead–Acid Battery Market Report Highlights
Aspects | Details |
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By Construction Method |
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By Product |
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By Application |
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By Region |
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Key Market Players | East Penn Manufacturing Company, HBL Power Systems Ltd., Accumulatorenwerke HOPPECKE Carl Zoellner & Sohn GmbH, Teledyne Technologies Inc., C&D Technologies Inc., Hankook AtlasBX Co. Ltd., GS Yuasa Corporation, Hitachi Chemical Co. Ltd., Enersys, Exide Industries Limited |
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According to CXOs of leading companies, the global lead–acid battery market is likely to witness a significant growth during the forecast period. In the rechargeable battery sector, major competition is seen in two prominent battery types, namely, traditional lead–acid battery and a lithium-ion battery. After comparison between these batteries, it is analyzed that lead–acid battery is the finest one and is still the battery of choice among most consumers. Some factors such as cost-competitive energy source, increasing renewable energy production, long-lasting nature, and recyclability associated with lead-acid batteries make them highly preferable for all applications. Due to which the market is witnessing a significant growth across the globe.
A lithium-ion battery is considered to be a suitable alternative to a heavyweight lead–acid battery; which is better in terms of efficiency, capacity, and charging time. But it is anticipated to take another decade for lithium-ion batteries to replace the lead–acid battery as it is still in the developing phase in terms of recyclability. Therefore, the lead–acid battery market is expected to witness promising growth opportunities for the next 10 years.
A. Growing demand of lead-acid battery as a cost efficienct energy storage solution, highest recyclability asociated with this battery type, and increasing mandatory renewable energy targets are the factors that drive the growth of this market.
A. The global lead-acid battery market anticipared to register growth of 5.24% in 2026.
A. To get latest version of lead acid battery market report
A. Asia-Pacific and Europe region anticipated to provide profitable growth to this market during the forecast period.
A. Growing efforts to reduce overall energy costs and therefore resulting demand for lead-acid as a cost effective energy storage device in renewable energy sector is the key trend observed inb this market
A. Based on top growing big corporation, we select top 10 players.
A. Automotive, UPS, telecome, and others are the major application areas of the lead-acid battery.
A. Market players have been adopting various strategies such as new product development and launch, mergers & acquisition, strategic, and agreements to stay competitive in this market.
A. Automotive market holds largest market share in the global lead-acid battery market.
A. The global lead-acid battery market is valued at $39.7 billion in 2018.
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