Worldwide Shipments of Lead Acid Batteries are Estimated to Reach US$ 96.5 Billion by 2033

Lead acid battery exports worldwide are expected to reach US$ 96.5 billion by the end of 2033, representing a market value of US$ 57.1 billion as of 2023. According to the most recent Fact.MR research report, the worldwide lead acid battery market will grow at a 5.3% CAGR during the following ten years.

As per Fact.MR's analysis, the transportation segment is likely to account for nearly two out of five lead acid battery sales, rendering it a promising application area. The trucking industry is especially poised to benefit in the post-pandemic era, with majority of manufacturers relying on road transport to deliver their goods, stimulating an increase in the global truck fleet and subsequent uptake of lead acid batteries.

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"As manufacturers seek out greener and cleaner energy alternatives, demand for lead acid batteries is anticipated to surge across prominent geographies, prompting players to invest in extensive research & development projects," says the Fact.MR analyst.

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 1/3^rd 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.

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.

Competition Dashboard

Leading lead acid battery companies are investing heavily in the research and development of novel battery technologies and acquiring new patents to gain a competitive edge over other market players.

• In June 2022, Mesha Energy Solutions Pvt. Ltd. announced that it had acquired a patent from the government of India for its battery performance technology. The new patented technology was intended to be used by all types of manufacturers including lithium-ion, lead acid, sodium-ion, etc.

Market Participants

• Furukawa Electric Co. Ltd.
• Hoppecke Batterien GmbH & Co. KG
• Exide Industries Ltd.
• Yokohama Batteries Sdn. Bhd
• Camel Group Co. Ltd.
• Enersys
• SiteTel Sweden AB (NorthStar)
• Narada Power Source Co. Ltd.
• East Penn Manufacturing Co.
• GS Yuasa Corporation
• Coslight Technology International Group Co. Ltd.
• Leoch International Technology Ltd.
• Hitachi Chemical Company Ltd.
• C&D Technologies Inc.
• Zhangzhou Hauwei Power Supply Technology Co. Ltd.

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

More Valuable Insights on Lead Acid Battery Market

Fact.MR, in its new offering, brings to fore an unbiased analysis of the global lead acid battery market, presenting historical demand data (2014-2018) and forecast statistics for the period, 2019-2029. The study divulges compelling insights on the lead acid battery market based on application (transportation (OEM transportation, aftermarket), 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), and others (OEM others, aftermarket others), product type (flooded, AGM, gel) across seven major regions.

Key Questions Covered in the Report

• What are key applications of Lead Acid Battery market?
• How will the global market for lead acid battery fare over the next few years?
• What factors are anticipated to drive lead acid battery market trends?
• What are the key trends in the lead acid battery market?
• Which market holds the maximum market share of the lead acid battery market?

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