Global Lead Acid Battery Market is expected to grow at a CAGR of around 5% during the forecast period 2021-2027. Anode, cathode, and electrolyte are the three main components of a lead cell; the anode is the negative terminal, the cathode is the positive terminal, and the electrolyte joins both of these terminals to drive an electrochemical reaction that produces electricity. A lead–acid battery is made up of a sponge metallic lead anode, a lead-dioxide cathode, and a sulfuric acid solution electrolyte. It is the first battery to be used in a commercial setting. It has dangerous lead in it, but it can be recycled. The electric vehicle section of the automobile industry is rapidly growing in order to minimize carbon emissions. The lead–acid battery is widely employed in electric cars, and its use is steadily increasing. The continuous rising demand for electric vehicles globally is going to add fuel to the growth of lead acid battery as transportation industry plays a very vital role in governments target for zero emission, and electric vehicles is the very first step to reach the set targets.
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Over the projected period, rising demand for energy storage, along with advancements in the transportation industry, is expected to propel market expansion. Furthermore, rising demand from the commercial vehicle, passenger car, and motorbike production industries is expected to boost the industry’s growth. Furthermore, rising demand for USP from sectors such as BFSI, healthcare, chemical, and oil & gas is expected to support market expansion. Other major factors driving the growth of the Industrial Lead Acid Battery Market include the demand for adequate infrastructure for vehicle charging, the implementation of numerous smart grid projects, the expansion of long-distance telecom towers, the increased use of electric and hybrid vehicles, and so on.
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The COVID-19 epidemic has wreaked havoc on the market. As a result of the pandemic’s impact on various end-use industries, such as manufacturing, construction, automotive, and others, demand for lead-acid batteries has dropped significantly in recent months. Furthermore, the supply chain of raw materials essential for lead-acid batteries was badly interrupted as a result of the shutdown in key nations such as Germany, Italy, India, and the United States, resulting in poor manufacturing of these batteries. However, the demand for these batteries is growing in the healthcare and UPS industries, which bodes well for the market players. The worldwide lead acid battery market has been harmed by lockdown limitations. Obstacles have arisen as a result of limited manufacturing and transit delays caused by the epidemic. Production and distribution have been delayed as successive waves of the new coronavirus tighten their grip on the global economy.
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For a better understanding of the market adoption of Lead Acid Battery, the market is analyzed based on its worldwide presence in the countries such as North America (United States, Canada, Rest of North America), Europe (Germany, France, UK, Italy, Spain, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Rest of APAC), and Rest of World. Asia Pacific dominated the market in 2020 and is expected to grow at a higher rate during the forecasted period. China, India, Japan, and South Korea are all major contributors to the Asia-Pacific region. High automobile production and sales, fast industrialization, population increase, and a spike in demand for UPS systems are just a few of the elements driving this region’s growth. The automotive industry generates the majority of revenue for lead–acid batteries in Asia–Pacific, owing to robust demand for passenger automobiles and increased awareness and acceptance of electric vehicles. The electric vehicle section of the automobile industry is rapidly growing in order to minimize carbon emissions. The lead–acid battery is widely employed in electric cars, and its use is steadily increasing.
Global Lead Acid Battery Market Segmentation
Market Insight, by Construction Method
· Flooded
· VRLA
Market Insight, by Type
· SLI
· Stationary
· Motive
Market Insight, by Technology
· Basic
· Advanced
Market Insight, by End-User
· Utilities
· Transportation
· Industrial
· Others
Market Insight, by Region
· North America Lead Acid Battery Market
o United States
o Canada
o Rest of North America
· Europe Lead Acid Battery Market
o Germany
o France
o United Kingdom
o Italy
o Spain
o Rest of Europe
· Asia Pacific Lead Acid Battery Market
o China
o Japan
o India
o South Korea
o Rest of Asia-Pacific
· Rest of World Lead Acid Battery Market
Top Company Profiles
· EnerSys
· Exide Industries
· Amara Raja Batteries Ltd
· C&D Technologies Inc.
· GS Yuasa Corporation
· HBL Power Systems Ltd.
· Panasonic Corporation
· Teledyne Technologies Inc.
· Clarios
· Narada Power