Report Overview

Increasing demand for backup power solutions in various sectors, growth in renewable energy installations, expanding automotive and industrial sectors, and government initiatives promoting energy storage and electrification are propelling the growth of Australia Lead Acid Battery Market during the forecast period between 2023 and 2029.

Australia Lead Acid Battery Market – Industry Trends & Forecast Report, 2029

Australia lead acid battery market size was estimated at USD 1.09 billion in 2022. During the forecast period between 2023 and 2029, the size of Australia lead acid battery market is projected to grow at a CAGR of 9.2% reaching a value of USD 2.03 billion by 2029. The increasing focus on renewable energy sources, such as solar and wind power, has led to higher demand for energy storage solutions, bolstering the market. Also, the automotive industry's shift towards electric vehicles has boosted the demand for lead-acid batteries in the transportation sector. Further, advancements in technology have improved the performance and lifespan of these batteries, making them more attractive for various applications. Government incentives and policies promoting clean energy and sustainable transportation have further accelerated the growth of the lead acid battery market in Australia.

Australia Lead Acid Battery Market - Overview

A lead-acid battery is a type of rechargeable battery that uses lead dioxide as the positive electrode, lead as the negative electrode and sulfuric acid as the electrolyte. It is one of the oldest and most widely used battery technologies due to its reliability and cost-effectiveness. These batteries are commonly used in various applications, including automotive vehicles, uninterruptible power supplies (UPS), renewable energy storage systems, and backup power sources. Despite their relatively low energy density compared to other modern battery technologies, lead-acid batteries remain essential in many industries due to their robustness and ability to deliver high currents when needed.

Growth Drivers

Rising Renewable Energy Integration

The increasing integration of renewable energy sources is propelling Australia lead acid battery market. As the country embraces sustainability and strives to reduce carbon emissions, the demand for energy storage solutions has surged. Lead acid batteries play a crucial role in storing excess energy generated from renewable sources like solar and wind, ensuring a stable power supply even during fluctuations in energy production. Also, lead acid batteries find applications in various industries, including automotive, telecommunications, and backup power systems. This strong adoption of lead acid batteries to support Australia's clean energy transition is a significant driver of market growth.

Restraints

Supply Chain Disruptions Amid Soaring Demand

In recent years, the Australian lead acid battery market has witnessed substantial growth due to increasing demand from various industries, including automotive, renewable energy, and telecommunications. However, this surge in demand has created significant supply chain disruptions, leading to raw material shortages and price volatility. Also, geopolitical uncertainties have impacted the import and export of lead-acid batteries, further straining the market. To mitigate these challenges, stakeholders must focus on localizing production, investing in recycling infrastructure, and diversifying sourcing strategies. Navigating these obstacles will be crucial to sustaining the growth and stability of Australia's lead acid battery industry.

Impact of COVID-19 on Australia Lead Acid Battery Market

The COVID-19 pandemic significantly impacted Australia's lead acid battery market. With lockdowns and restrictions affecting industrial and automotive sectors, demand for lead-acid batteries declined. Supply chain disruptions and reduced manufacturing capacity further exacerbated the situation. However, the market witnessed a slight recovery as essential services resumed operations and transportation needs increased. Amid the crisis, the industry faced challenges such as labor shortages and rising costs. Despite the setbacks, the Australian lead acid battery market demonstrated resilience, adapting to the changing landscape and exploring opportunities in renewable energy storage to drive future growth.

Australia Lead Acid Battery Market

Segmental Coverage

Australia Lead Acid Battery Market – By Product

Based on product, Australia lead acid battery market is divided into SLI, Stationary, and Motive segments. The motive segment is the largest, encompassing various applications, such as electric vehicles (EVs), forklifts, and other industrial equipment. This growth is driven by the increasing adoption of electric mobility and the demand for sustainable energy solutions in the transportation and industrial sectors. The SLI segment serves as the power source for starting gasoline-powered vehicles, while the stationary segment is essential for backup power and renewable energy storage systems.

Australia Lead Acid Battery Market – By Construction

By construction, Australia lead acid battery market is split into Flooded and VRLA segments. These segments represent the primary types of lead acid batteries used in various applications. Flooded batteries require periodic maintenance and feature an electrolyte that is free to move within the cells. On the other hand, VRLA batteries are maintenance-free and use a valve to regulate the release of gases, making them suitable for sealed applications. These two segments collectively dominate the Australian lead acid battery market, catering to diverse industrial and commercial needs.

Australia Lead Acid Battery Market – By Application

By application, Australia lead acid battery market is divided into Automotive, UPS, Telecom, Electric Bikes, and Transport Vehicles segments. The largest application in the Australian lead acid battery market is the automotive segment. The segment caters to the demand for lead acid batteries used in various types of vehicles, including cars, trucks, motorcycles, and other automotive applications. The Automotive segment is vital due to the widespread use of lead acid batteries in the automotive industry, powering various vehicle functions such as starting, lighting, and ignition. While the UPS, telecom, electric bikes, and transport vehicles segments also contribute to the market, the automotive segment holds the largest share, driven by the country's significant reliance on automobiles for transportation.

Competitive Landscape

Major players in the Australia lead acid battery market include Exide Industries Ltd, Amara Raja Batteries Ltd, Luminous Power Technologies Pvt. Ltd, HBL Power Systems Ltd, Jayachandran Industries (P) Ltd, Okaya Power Pvt Ltd, Truepower Systems LLP, and Microtex Energy Private Limited. To grow their market share, these companies are also focusing on investing in innovations, collaborations, and expansions.

Scope of the Report

By Product

• SLI

• Stationary

• Motive

By Construction

• Flooded

• VRLA

By Application

• Automotive

• UPS

• Telecom

• Electric bikes

• Transport vehicles