Lead-Acid Battery Market: Overview
Global Lead-Acid Battery Market is
expected to grow significantly due to the growing adoption of lead-acid
batteries in the automotive sector and the Uninterruptible Power Source (UPS),
along with some developments in manufacturing methods. Increased demand for the
product in off-grid power generation is expected to enhance the market size of
lead-acid battery market during the forecast period.
Development in the transport sector,
along with an increase in energy storage applications, is projected to drive
industry demand soon. Rapid growth in the commercial vehicle, motorcycle and
passenger car manufacturing industries is also projected to drive product
Growing demand for UPS in different
sectors, such as banking, oil and gas, healthcare, and chemicals, is driving
the market positively. Advances in the automotive industry in India, Brazil,
Mexico, South Korea, Indonesia, Thailand, and Vietnam are expected to create
market opportunities for growth. Increased demand for pollution-free electric
cars, coupled with technological advances, is projected to fuel demand for
lead-acid batteries over the coming years.
Global Lead-Acid Battery Market: Market Segmentation
on type, the global Lead-Acid Battery market segmented into Standby, Motive,
and SLI. Increased vehicle manufacturing, particularly in China, Japan, India,
Brazil, Mexico, South Korea, and the United States, is expected to support
expansion over the forecast period. For example, in October 2018, Amara Raja
Batteries signed an agreement with Johnson Controls to launch a new battery
technology in India that provides sophisticated consumer features and strict
emission standards for the automotive industry. These initiatives are expected
to boost the demand for lead-acid batteries during the forecast period.
Global Lead-Acid Battery Market: Construction
on Construction, the global Lead-Acid Battery market segmented into Flooded,
and VRLA. The flooded lead-acid battery segment had the largest share in the
previous years. It is expected to lose market share due to high maintenance
costs and complex construction. Increased demand for stationary applications
will, however, fuel market growth over the forecast period.
Global Lead-Acid Battery Market: Application
on Application, the global Lead-Acid Battery market segmented into Automotive,
UPS, Telecom, Electric Bikes, Transport Vehicles and Others. Automotive was the
biggest application segment in terms of revenue share. The extensive use of
lead-acid batteries in the automotive sector is expected to see growth as a
result of the growing automotive industry. The presence of leading automotive
players such as TATA, Maruti Suzuki, Mahindra, Mitsubishi, Infinium Toyota,
Hyundai, Honda, and Nissan has fueled the growth of the automotive industry in
the Asia Pacific due to their strong sales channels and easy availability at
Global Lead-Acid Battery Market: Regional
Based on region, the global Lead-Acid Battery market
segmented into North America, Europe, Asia Pacific, Latin America, and Middle
East & Africa. Asia Pacific is expected to be the most lucrative CAGR
market during the forecast period due to the increasing demand for energy
storage batteries in China and India. Also, favorable government regulations
designed to generate investment from public-private alliances and foreign
direct investment (FDI) are projected to fuel regional product demand.
The major players in the global Lead-Acid Battery are Enersys,
Exide Industries, GS Yuasa, Clarios, Chaowei Power, Narada Power, HBL Power
Systems, Crown Battery, Northstar, Hitachi Chemical, Exide Technologies and
other prominent players.
Ø March, 2020: GNB Industrial Power, a Division of Exide
Technologies, LLC announced the launch of a new lithium-ion battery at MODEX
2020 that takes motive power battery performance to the next level. The GNB
LiFTFORCE LPX 2.0 has greater energy density, improved integration and
communication capabilities and a wider application range – all at a lower cost
compared to the first generation LiFTFORCE LPX offering.
Ø January, 2019: GS Yuasa Corporation announced the launch of
its LIM50EL series of industrial lithium-ion battery modules. The battery
modules in the LIM50EL series are compatible with those in the existing LIM50EN
series, but have significantly longer life spans due to progress with
optimization of materials.
Ø SLI Calcium
Ø North America
Ø Asia Pacific
Ø Latin America
Ø Middle East &
The objective of the Study:
Ø To analyze and forecast the global Lead-Acid
Battery Market size of the market in terms of value.
Ø To examine the careful market segmentation and
forecast the market size, in terms of value, based on the region by segmenting.
Ø The Global Lead-Acid Battery Market segmented into
five regions, namely, North America, Europe, Asia Pacific, Latin America,
Middle East & Africa and their leading countries.
Ø To outline, categorized, and forecast the global Lead-Acid
Battery Market based on type, construction, and application.
Ø To examine competitive developments like technological
advancement, services, and regulative framework within the global Lead-Acid
Ø To highlight the impact analysis of the factors
affecting the market dynamics such as drivers, restraints, opportunities, and
Ø To strategically profile the key players and
comprehensively analyze their market shares along with detailing the
competitive landscape for market leaders.