Global Lead Acid Market – Industry Trends and Forecast to 2029

Global Lead Acid Market, By Classification (Starter Battery, Motive Power Battery, and Stationary Batteries), Application (Automobile Fields, Motorcycle, Electrical Bicycle, UPS, Transport Vehicles, Other) – Industry Trends and Forecast to 2029.

Lead Acid Market Analysis and Size

The IEA predicts that the electricity industry will experience the strongest increase in the renewables sector, increasing from 24 percent in 2017 to around 30 percent in 2023. Over 70% of the world's electricity is expected to be generated during this time period, according to estimates. Solar (both photovoltaics and ground mount modules) would lead this expansion, followed by wind, hydropower, and bioenergy. Thus, it is anticipated that as generation increases, lead acid battery use would likewise rise dramatically. The growth in adoption of lead acid batteries will further boost the growth rate of the lead acid market over the forecast period.

Global lead acid market was valued at USD 46.04 billion in 2021 and is expected to reach USD 69.07 billion by 2029, registering a CAGR of 5.20% during the forecast period of 2022-2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and climate chain scenario.

Lead Acid Market Scope and Segmentation

Market Definition

Lead acid is largely used to manufacture the lead acid batteries. The negative electrode of a lead acid battery is formed of porous or spongy lead. As the lead is porous, lead can develop and dissolve more easily. Lead oxide makes up the positive electrode. A sulfuric acid and water electrolytic solution is used to submerge both electrodes.

Lead Acid Market Dynamics

This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:

Drivers

• High Demand of Lead Acid Batteries

In many automotive applications, including as forklifts, golf carts, and industrial cleaners, lead acid batteries are used. Additionally, lead acid batteries are widely used in forklifts, which is projected to have a favorable impact on the industry because of their affordability, dependability, and well-established supply chains,. The lead acid battery is frequently used in cars because it can start an engine with a lot of power. Over the projected period, it is anticipated that these batteries' enhanced safety, quality, and recycling procedure would boost market growth.

The growth in population and rise in demand for UPS systems will further propel the growth rate of lead acid market. Additionally, the flourishing automotive production across the globe will also drive market value growth. The expansion of the end use industries are projected to bolster the growth of the market.

Opportunities

• Increased Expansion and Advancements in Technology

The leading telecom operators in the market continue to make investments in the development and expansion of their operations and processes in order to take advantage of the prospect for enhanced revenue generating streams that is becoming more and more visible. Numerous industry experts estimate the value of the wireless telecom space to have exceeded USD 270 billion in the fiscal year 2017. The development of numerous technological advances is the cause of this expansion. The wireless telecom sector is ready to keep acting as the main support system for the larger technological world thanks to significant developments in communication technology and growing device interconnectivity. This will eventually necessitate the installation of a backup power supply, and it is anticipated that this battery's use would rise sharply which further enhance the applications of product, extend profitable opportunities to the market players in the forecast period of 2022 to 2029.

• Increased Awareness Regarding the Benefits

 Additionally, the growing awareness regarding the benefits of the lead acid batteries will further expand the future growth of the lead acid market. The manufacturing of these batteries is basically cost-effective and it also offers longevity.

Restraints/Challenges

• Alternatives Of Lead Acid Batteries

The lead acid is largely used in manufacturing of lead acid batteries However, lead acid batteries are no longer as cost-effective as they once were due to the development of substitute battery storage technologies, particularly the lithium-ion technology. Additionally, nickel-cadmium batteries as well as NiMH batteries demonstrate to be an affordable option for battery storage consumers. Compared to lead acid batteries, they are more affordable and efficient.  This factor will create hindrances for the growth of the lead acid market.

• Drawbacks associated with Lead Acid

Also, the low-cost dilemmas in energy storehouse area and security associated with battery regulation will further prove to be a demerit for the lead acid market. Therefore, this will challenge the lead acid market growth rate.

This lead acid market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the lead acid market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Lead Acid Market

The recent outbreak of coronavirus had a huge impact on the lead acid market. The lead acid market is largely dependent on the automotive sector due to high usage of lead acid batteries within the sector, therefore, the lead acid market was largely affected by the overall impact on the automotive sector. The manufacturing of electronics equipment, especially the hardware for car lead acid batteries, has been seriously impacted by the COVID-19 epidemic. The COVID-19 virus's global spread and the ensuing lockdown situations have caused specialists in the automotive industry to predict that the industry's supply chain for automotive equipment will lag by at least 25%. Tremors are anticipated to be caused by this disturbance until mid-2021. After governments all over the world gradually lift the different containment measures in an effort to recover the economy, it is anticipated that the electronics equipment and automobile industries will pick up speed.

On the brighter side, beginning in 2022, it is projected that the production of electronics equipment and automobiles will accelerate. This is expected to have a favourable impact on the manufacturing of electronics equipment and automobiles, including the hardware components of vehicle lead acid batteries.

Global Lead Acid Market Scope

The lead acid market is segmented on the basis of classification and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Classification

• Starter Battery
• Motive Power Battery
• Stationary Batteries

 Application

• Automobile Fields
• Motorcycle
• Electrical Bicycle
• UPS
• Transport Vehicles
• Other

Lead Acid Market Regional Analysis/Insights

The lead acid market is analyzed and market size insights and trends are provided by country, classification and application as referenced above.

The countries covered in the lead acid market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

Asia-Pacific dominates the market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period of 2022-2029. The market growth over this region is attributed to the escalating requirement for framework endurance, backup energy, peak shaving and renewable power synthesis within the region.

North America on the other hand, is estimated to show lucrative growth over the forecast period of 2022-2029, due to the increasing spending on research and development as well as the technological developments within the region.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Lead Acid Market Share Analysis

The lead acid market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to lead acid market.

Some of the major players operating in the lead acid market are

• COSLIGHT GROUP (China)
• EXIDE INDUSTRIES LTD. (India)
• EnerSys (U.S.)
• Clarios (U.S.)
• GS Yuasa International Ltd. (China)
• Panasonic Corporation (Japan)
• Narada (China)
• HBL Power Systems Limited (India)
• NorthStar Group Services (Sweden)
• Crown Battery (U.S.)
• Exide Technologies (U.S.)
• Hitachi Ltd., (Japan)
• East Penn Manufacturing Company (U.S.)
• Teledyne Technologies (U.S.)
• HOPPECKE Batterien GmbH & Co. KG (Germany)
• Hankook & Company Co., Ltd. (Korea)
• Rolls Battery (Canada)
• C&D TECHNOLOGIES, INC. (U.S.)
• Amara Raja Group (India)
• Camel Power Malaysia (Malaysia)
• Okaya Power Pvt. Ltd.  (India)
• Leoch International Technology (China)