Lead Acid Battery Market Size & Share, by Type (Flooded, Sealed); Application (Portable, Stationary); End-user (Automotive, Oil & Gas, Utilities, Telecommunications, Construction, Marine) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2023-2035

  • Report ID: 4726
  • Published Date: Mar 10, 2023
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2023-2035

Lead Acid Battery Market size is projected to cross USD 90 Billion by the end of 2035, witnessing around 6% CAGR during the forecast period, i.e., 2023-2035. In the year 2022, the industry size of lead acid battery was USD 54 Billion in The growth of the market can be attributed to the rising demand for batteries for various applications, including telecommunication, automobiles, construction, and others. Furthermore, they are mainly used for emergency power supply systems, and it is expected to rise the growth of the market. India's EV battery consumption is anticipated to reach around 15 GWh by 2025 and nearly 60 GWh by 2030. By 2030, investments in the cell manufacturing industry are anticipated to surpass USD 9 billion.

In addition to these, factors that are believed to fuel the market growth of lead-acid batteries include the rising demand for lead-acid batteries for power backup at the time of power outages. There will undoubtedly be a higher need for power backups because electrical networks are aging and cannot meet the world's energy needs. In the United States, almost 70% of transmission and distribution lines have already outlived their expected lifespans by more than 50 years. Both the residential and industrial sectors are affected by the shortage of power all across the world.


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Lead Acid Battery Sector: Growth Drivers and Challenges

Growth Drivers

  • Growing Network of Off-Grid & Stand-Alone Power Systems -  In off-grid applications, lead-acid batteries have been most frequently employed. Moreover, they are also used for off-grid solar storage. By 2030, it is predicted that stand-alone and mini-grid systems would power over 60% of additional electrical access, and renewable energy sources will power approximately half of that access across the globe.

  • Higher Instances of Power Outages - In the event of a power outage, emergency lighting and pumping stations are both powered by lead-acid batteries. On the account of new power supply issues that have emerged on top of existing ones, more than 4% of the global population, or at least 350 million people, endured catastrophic power outages in 2021.

  • Expanding Infrastructure of Data Center - In most data centers, the uninterrupted power supply (UPS) or power failure is powered by a VRLA or valve-regulated lead-acid cell battery. As of January 2021, there were over 8,000 data centers located in 110 distinct countries. The United States, which represents 33% of all data centers, the United Kingdom, which accounts for 5.7%, and China, which accounts for 5.2%, comprise these six countries.

  • Growing Demand for Electronic Items and Battery - Given that consumer electronics were used widely in 2030, it is predicted that by 2030, the demand for batteries would have increased from 185 GWh to more than 2,000 GWh.

  • Rising Production of Lead - Following around 8% decline in CY 2020 owing to the pandemic, the output of lead-mined metal (metal in concentrate) increased by nearly 6% in CY 2021 to reach around 5 Mt. Furthermore, the manufacturing of lead-acid batteries, which are mostly used in motorized vehicles, the storage of energy produced by solar cells and wind turbines, and the creation of backup power supplies account for around 86% of the world's total lead consumption.

Challenges

  • Availability of Cheaper Alternative – lead acid batteries are a cost-effective technology, however the presence of lithium-ion batteries and aluminum air batteries, that makes them an even cheaper alternative. Moreover, for hybrid applications, a nickel-metal hydride battery is the most efficient. They are used by major OEMs, such as Honda, Toyota, Lexus, and others. Furthermore, nickel cadmium is also a great alternative to lead-acid batteries.
  • Need for Frequent Maintenance to Increase the Life of the Battery
  • Strict Rules and Regulations for Manufacturing of Lead Acid Battery

Lead Acid Battery Market : Key Insights

Base Year

  2022

Forecast Year

  2023-2035

CAGR

  ~6%

Base Year Market Size (2022)

  ~ USD 54 Billion

Forecast Year Market Size (2035)

  ~ USD 90 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
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Lead Acid Battery Segmentation

End-user (Automotive, Oil & Gas, Utilities, Telecommunications, Construction, Marine)

The global lead acid battery market is segmented and analyzed for demand and supply by end users into automotive, oil & gas, utilities, telecommunications, construction, marine, and others. Out of the seven end users of lead-acid batteries, the telecommunications segment is estimated to gain the largest market share over the projected time frame. The growth of the segment can be attributed to the rising adoption of mobile phones, followed by the rapid penetration of the internet all across the world. Today, there are more than six billion smartphone subscriptions globally, and in the coming years, that figure is expected to increase by several hundred million more. The nations with the most smartphone users are China, India, and the United States. In addition to this, around 5 billion people used the internet as of January 2023, or approximately 64% of the world's population. Of this total, over 4 billion people, or nearly 60% of the world's population, used social media.

 Application (Portable, Stationary)

The global lead acid battery market is also segmented and analyzed for demand and supply by application into portable, and stationary. Amongst these two segments, the portable segment is expected to garner a significant share. Portable lead acid batteries are highly used in electric vehicles, and they are dragged and deployed at the construction for powering tools. In 2021, sales of electric vehicles doubled to 6.6 million across the globe. Additionally, sales of electric vehicles increased significantly through 2022, reaching 2 million worldwide in the first quarter, a three-quarter increase from the same period a year earlier. Furthermore, the batteries were suitable for powering electric shovels, hand tools, and other equipment on the construction site.

Our in-depth analysis of the global market includes the following segments:

           By Type

  • Flooded Lead Acid Battery
  • Sealed Lead Acid Battery

          By Application

  • Portable
  • Stationary

         By End User

  • Automotive
  • Oil & Gas
  • Utilities
  • Telecommunications
  • Construction
  • Marine
  • Others
 

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Lead Acid Battery Industry - Regional Synopsis

APAC Market Statistics

The Asia Pacific lead acid battery market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2035. The growth of the market can be attributed majorly to the rising power shortage and increasing capacity of off-grid power systems. The intense heatwave in 2023 coincided with the greatest power outage in more than six years. Indians from all across the nation including Jammu and Kashmir to Andhra Pradesh are experiencing power outages that range anywhere from two hours to eight hours or longer. Furthermore, in 2021, China's off-grid renewable energy capacity increased by almost 5% to 906.23 gigawatts. Besides this, the market growth in the region is also attributed to rising in the number of lead acid battery importers. The Ministry of Environment, Forest & Climate Change (MoEFCC) / Central Pollution Control Board has registered 82 importers of lead acid batteries under Rule 5 of the Batteries (Management & Handling) Regulations, 2001.

North American Market Forecast   

The North American lead acid battery market, amongst the market in all the other regions, is also predicted to hold the second largest market share by the end of 2035. The market growth in the region is expected on the account of the rising use of lead-acid batteries for battery backup in case of power outages. Several catastrophic weather events in 2021 put pressure on the electricity grids in the United States. On average, households lost power for seven hours and twenty minutes, with severe weather events such as hurricanes, wildfires, and snowstorms accounting for more than five of those hours, or about seventy-two percent.

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Companies Dominating the Lead Acid Battery Landscape

top-features-companies
    • East Penn Manufacturing Company
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Leoch International Technology Ltd.
    • Yokohama Group of Companies
    • Enersys
    • Exide Industries Ltd.
    • GS Yuasa Corporation
    • Hoppecke Batterien GmbH & Co. KG.
    • Crown Battery
    • C&D Technologies
    • NorthStar

In-the-news

In The News

  • GS Yuasa Corporation subsidiary TataAutoComp GY Batteries Private Ltd. in India reveals its plan to double its capacity for yearly manufacturing of motorcycle lead-acid batteries to 8.4 million units.

  •  Enersys, the maker of ODYSSEY batteries, and TravelCenters of America (TA) are collaborating to provide NorthStar PRO Group 31 and ODYSSEY Performance batteries for heavy-duty applications at all TA outlets across the nation.

Author Credits:  Smruti Ranjan, Rajrani Baghel


  • Report ID: 4726
  • Published Date: Mar 10, 2023
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

Increasing incidences of power cut-offs, a growing network of off-grid power systems, and rising demand for vehicles are the major factors driving the market growth.

The market is anticipated to attain a CAGR of 6% over the forecast period, i.e., 2023-2035.

Alternative battery options available in the market, stringent manufacturing regulation, and the need for frequent maintenance are estimated to be the growth hindering factors for the market expansion.

The market in the Asia Pacific region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.

The major players in the market are Leoch International Technology Ltd., Yokohama Group of Companies, Enersys, Exide Industries Ltd., GS Yuasa Corporation, Hoppecke Batterien GmbH & Co. KG., Crown Battery, C&D Technologies, Inc., NorthStar, East Penn Manufacturing Company, and others

The company profiles are selected based on the revenues generated from the product segment, the geographical presence of the company which determines the revenue generating capacity as well as the new products being launched into the market by the company.

The market is segmented by type, application, end-user, and by region.

The telecommunications segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.
Lead Acid Battery Market Report Scope
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