The latest report by IMARC Group, titled “Lead Acid Battery Market Report by Product (SLI, Stationary, Motive), Construction Method (Flooded, Valve Regulated Sealed Lead–acid Battery (VRLA)), Sales Channel (OEM, Aftermarket), Application (Automotive, UPS, Telecom, and Others), and Region 2024-2032“, The global lead acid battery market size reached US$ 34.3 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 48.0 Billion by 2032, exhibiting a growth rate (CAGR) of 3.7% during 2024-2032.
A lead-acid battery is a cost-effective rechargeable energy storage device consisting of a positive terminal (anode) and a negative terminal (cathode) connected by an electrolyte that triggers electrochemical reactions to produce electricity. This battery contains lead, a recyclable hazardous metal that can be reused in different products. The manufacturing process involves several steps such as oxide and grid production, pasting, curing, assembly, formation, filling, charging-discharging cycles, quality testing, and shipping of the final product.
Known for its resistance to overcharging and affordability, the lead-acid battery has a high current capacity and can handle significant surge currents with a favorable power-to-weight ratio. It is commonly used in emergency lighting systems and powering sump pumps during power outages. Its versatility in operating efficiently under both low- and high-temperature conditions makes it a popular choice for grid storage applications and various industrial uses.
Available in different sizes and types including flooded and sealed variants, the lead-acid battery is widely utilized in backup power systems for telecommunication facilities and data centers, grid energy storage projects, as well as residential electric setups worldwide.
For an in-depth analysis, you can refer sample copy of the report: https://www.imarcgroup.com/lead-acid-battery-market/requestsample
Lead Acid Battery Market Trends and Drivers:
The expansion of the global lead acid battery market is being primarily fueled by the automotive sector's rapid growth and the increasing demand for fuel-efficient and electric rechargeable vehicles. Furthermore, the rising awareness about environmental impacts and the implementation of green initiatives by governments in various countries to promote eco-friendly elements like lead-acid batteries in order to reduce carbon emissions are positively impacting market growth. Consumer preferences are shifting towards lead-acid batteries from lithium-ion and nickel-based systems due to their cost-effectiveness, recyclability, and reliability, thereby accelerating market expansion. The demand for lead-acid batteries is also on the rise in various industries due to their easier battery management requirements for uninterrupted power supply (UPS) devices. Additionally, the adoption of advanced battery manufacturing machinery to enhance production efficiency while cutting costs is a significant factor driving market growth. Collaborations between key players to develop improved product versions are further boosting market expansion. The increasing use of electronic devices, infrastructure advancements, and the need for high-capacity batteries are also contributing to market growth. Moreover, factors such as growing demand for electrical equipment, rising production of electric vehicles, and increased use of hybrid propulsion systems due to concerns about marine pollution are expected to create a favorable market outlook in the future.
Report Segmentation:
The report has segmented the market into the following categories:
Breakup by Product:
- SLI
- Stationary
- Motive
Breakup by Construction Method:
- Flooded
- Valve Regulated Sealed Lead–acid Battery (VRLA)
Breakup by Sales Channel:
- OEM
- Aftermarket
Breakup by Application:
- Automotive
- UPS
- Telecom
- Others
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Competitive Landscape with Key Player:
- C&D Technologies Inc.
- Clarios International Inc.
- East Penn Manufacturing Co.
- EnerSys
- Exide Industries Limited
- GS Yuasa Corporation
- HBL Power Systems Limited
- HOPPECKE Batterien GmbH & Co. KG
- Leoch International Technology Limited
- Panasonic Holdings Corporation
- Teledyne Technologies Incorporated
Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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