Lead Acid Battery Market By Product (SLI, Stationary, Motive), By Construction Method (Flooded, VRLA), By Application- Global Industry Analysis, Share, Growth, Regional Outlook and Forecasts, 2022-2030
The global Lead Acid Battery market gathered revenue around USD 61.20 billion in 2021 and market is set to grow USD 98.04 billion by the end of 2030 and is estimated to expand at a modest CAGR of 6.2% during the prediction period 2022 to 2030.
Lead acid batteries are expected to witness a significant rise in demand owing to their increasing usage in various industries including oil and gas, nuclear power, electricity generation, gas turbine, hospitality, transport infrastructure, manufacturing, construction, mining, and off-grid renewable. Moreover, advantages associated with these batteries, such as durability, high voltage capability, low-cost, and simple manufacturing processes are expected to increase the demand.
Lead acid batteries find wide usage in automotive applications including forklifts, golf carts, and industrial cleaners. High usage of lead acid battery in forklifts on account of low cost, reliability, and well-established supply chain of the product, is likely to positively influence the market. The lead acid battery is widely used in automobiles as it delivers high power to start the engine. The superior safety, quality, and recycling process of these batteries are anticipated to augment the market growth over the forecast period.
This research report purposes at stressing the most lucrative growth prospects. The aim of the research report is to provide an inclusive valuation of the Lead Acid Battery market and it encompasses thoughtful visions, actualities, industry-validated market findings, historic data, and prognoses by means of appropriate set of assumptions and practice. Global Lead Acid Battery market report aids in comprehending market structure and dynamics by recognizing and scrutinizing the market sectors and predicted the global market outlook.
|Market Size||USD 98.04 billion by 2030|
|Growth Rate||CAGR of 6.2% From 2022 to 2030|
|Forecast Period||2022 to 2030|
|Report coverage||Growth Factors, Revenue Status, Competitive Landscape, and Future Trends|
|Segments Covered||Product, Construction Method, Application And Region
|Regional Scope||North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA)|
|Companies Mentioned|| East Penn Manufacturing Co.; Exide Technologies; Johnson Controls; ATLASBX Co. Ltd.; NorthStar; C&D Technologies, Inc.; Narada Power Source Co., Ltd.; Amara Raja Corporation GS Yuasa Corp; Crown Battery Manufacturing; and Leoch International Technology Ltd.
COVID-19 Impact Assessment on Market Landscape
The report comprises the scrutiny of COVID-19 lock-down impact on the income of market leaders, disrupters and followers. Since lock down was instigated differently in diverse regions and nations, influence of same is also dissimilar across various industry verticals. The research report offers present short-term and long-term influence on the market to assist market participants across value chain makers to formulate the framework for short term and long-lasting tactics for recovery and by region.
Lead Acid Battery market Report empowers readers with all-inclusive market intelligence and offers a granular outline of the market they are operational in. Further this research study delivers exceptional combination of tangible perceptions and qualitative scrutiny to aid companies accomplishes sustainable growth. This report employs industry-leading research practices and tools to assemble all-inclusive market studies, intermingled with pertinent data. Additionally, this report also emphases on the competitive examination of crucial players by analyzing their product portfolio, pricing, gross margins, financial position, growth approaches, and regional occurrence.
The Asia Pacific held the leading market share in 2020. The growing construction industry in emerging countries, such as China, India, Japan, Malaysia, South Korea, Vietnam, and Indonesia is projected to drive the utilization of lead-acid battery. According to the Society of Indian Automobiles Manufacturers, the total automotive sales grew by 14.30% in 2017-2018 over 2016-2017. Expansion in automobile sales will lead to the growth of SLI lead-acid batteries.
Asia Pacific is anticipated to be the most lucrative market in terms of CAGR during the forecast period on account of increasing demand for energy storage batteries in China and India. Furthermore, favorable government regulations designed to generate investments from public-private partnerships and Foreign Direct Investments (FDI) are estimated to fuel regional product demand.
Foremost players in the market are attentive on adopting corporation strategies to enhance their market share. Some of the prominent tactics undertaken by leading market participants in order to sustain the fierce market completion include collaborations, acquisitions, substantial spending in R&D and the improvement of new-fangled products or reforms among others.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
- Company Overview
- Company Market Share/Positioning Analysis
- Product Offerings
- Financial Performance
- Recent Initiatives
- Key Strategies Adopted by Players
- Vendor Landscape
- List of Suppliers
- List of Buyers
Some of the prominent players in the Lead Acid Battery Market include: East Penn Manufacturing Co.; Exide Technologies; Johnson Controls; ATLASBX Co. Ltd.; NorthStar; C&D Technologies, Inc.; Narada Power Source Co., Ltd.; Amara Raja Corporation GS Yuasa Corp; Crown Battery Manufacturing; and Leoch International Technology Ltd.
Segments Covered in the Report
This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for the period of 2017 to 2030 and covers subsequent region in its scope:
- By Product
- By Construction Method
- By Application
- Electric Bikes
- Transport Vehicles
- United Kingdom
- Rest of Europe
- Southeast Asia
- Rest of Asia Pacific
- Rest of Latin America
Middle East & Africa (MEA)
- North Africa
- South Africa
- Rest of Middle East & Africa
Highlights of the Report:
- Market Penetration: Comprehensive information on the product portfolios of the top players in the market.
- Product Development/Innovation: Detailed insights on the upcoming technologies, R&D activities, and product launches in the market
- Competitive Assessment: In-depth assessment of the market strategies, geographic and business segments of the leading players in the market
- Market Development: Comprehensive information about emerging markets. This report analyzes the market for various segments across geographies
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the market
In the study, a unique research methodology is utilized to conduct extensive research on the growth of the Lead Acid Battery market, and reach conclusions on the future growth parameters of the market. This research methodology is a combination of primary and secondary research, which helps analysts ensure the accuracy and reliability of the conclusions.
Secondary resources referred to by analysts during the production of the Lead Acid Battery market study are as follows - statistics from government organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have also interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, all of whom have contributed to the development of this report as a primary resource.
Comprehensive information acquired from primary and secondary resources acts as a validation from companies in the market, and makes the projections on the growth prospects of the Lead Acid Battery markets more accurate and reliable.
It involves company databases such as Hoover's: This assists us recognize financial information, structure of the market participants and industry competitive landscape.
The secondary research sources referred in the process are as follows:
- Governmental bodies, and organizations creating economic policies
- National and international social welfare institutions
- Company websites, financial reports and SEC filings, broker and investor reports
- Related patent and regulatory databases
- Statistical databases and market reports
- Corporate Presentations, news, press release, and specification sheet of Manufacturers
Primary research includes face-to face interviews, online surveys, and telephonic interviews.
- Means of primary research: Email interactions, telephonic discussions and Questionnaire based research etc.
- In order to validate our research findings and analysis we conduct primary interviews of key industry participants. Insights from primary respondents help in validating the secondary research findings. It also develops Research Team’s expertise and market understanding.
Industry participants involved in this research study include:
- CEOs, VPs, market intelligence managers
- Procuring and national sales managers technical personnel, distributors and resellers
- Research analysts and key opinion leaders from various domains
Key Points Covered in Lead Acid Battery Market Study:
- Growth of Lead Acid Battery in 2022
- Market Estimates and Forecasts (2017-2030)
- Brand Share and Market Share Analysis
- Key Drivers and Restraints Shaping Market Growth
- Segment-wise, Country-wise, and Region-wise Analysis
- Competition Mapping and Benchmarking
- Recommendation on Key Winning Strategies
- COVID-19 Impact on Demand for Lead Acid Battery and How to Navigate
- Key Product Innovations and Regulatory Climate
- Lead Acid Battery Consumption Analysis
- Lead Acid Battery Production Analysis
- Lead Acid Battery and Management