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Lead Acid Battery Market 2024: Global Industry Analysis, Share, Development, Scope, Trends, Forecast

The global market for lead-acid batteries should grow from $48.5 billion in 2019 to reach $78.7 billion by 2024 at a compound annual growth rate (CAGR) of 10.2% for the period of 2019-2024.

Report Scope:

The scope of this market study includes the leading lead-acid battery technologies that are currently in use globally. Lead-acid battery technologies are used across a number of industries and applications, such as automotive, renewable energy and telecommunications. The lead-acid battery technologies discussed in this report are in use across the industries mentioned above and many more as well, as new sectors driven by product innovation and end-user applications emerge.

The market analysis provided in this report is based on a variety of data sources. These include the most recent government, industry, academic and company data regarding the projected level of demand for lead-acid battery technologies. This report quantifies lead-acid battery technologies used across different applications and the different types of lead-acid battery types manufactured for these applications. Therefore, this report provides a comprehensive review of available data to provide a realistic and accurate assessment of this evolving market.

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BCC Research analyzes each major lead-acid battery technology, determines its current market status, examines its impact on future markets, and presents forecasts of growth over the next five years. Estimated values used are based on manufacturers’ total revenues. Projected and forecast revenue values are in constant U.S. dollars, unadjusted for inflation. Technological issues, including the latest trends, are assessed and discussed, as are the current and likely-to-appear regulatory environments in support of this industry.

BCC Research analyzes the industry on a worldwide basis in terms of its manufacturing and use of lead-acid battery technologies. BCC Research examines government roles in support of lead-acid battery technologies worldwide, including regulatory support and government requirements. The report provides a review of the most relevant lead-acid battery technologies, discusses recent trends and sales and provides industry overviews and market assessments for leading lead-acid battery technologies.

Report Includes:

– 52 data tables and 15 additional tables
– Evaluation of the global lead-acid battery market and assesment of its growth potential
– Detailed description of construction of lead acid batteries and factors influencing battery life
– Information on different types of lead batteries such as enhanced flooded batteries, flooded batteries, and VRLA batteries.
– Insight into safety and environmental consideration regarding the usage of lead acid batteries
– Company profiles of major players in the industry, including Amara Raja Batteries Ltd., Banner Batteries, Camel Group, Daramic LLC and Exide Technologies

Summary

The global lead-acid battery technology market is valued at REDACTED in 2019, up from REDACTED in 2018, and is forecast to grow at a compound annual growth rate (CAGR) of REDACTED over the five-year forecast period to reach REDACTED by 2024. The market will experience growth as a result of multiple factors. These include increasing demand in the transport sector, as vehicle sales increase and electric vehicles become more popular; UPS systems and inverters in several applications; advancements in manufacturing processes, including rising automation, which will translate into more equipment requiring led batteries; and demand in industrial sectors, including oil and gas (O&G), manufacturing,
chemical and healthcare. New emerging applications, such as in the renewable energy sector, are creating demand for stationary lead-acid batteries in large-scale storage applications, off-grid renewable energy storage and residential storage, which are expected to boost market growth.

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The flooded lead-acid battery technology sub-market is the largest by construction type and is forecast to be worth REDACTED in 2019, from REDACTED in 2018. It is forecast to grow at a CAGR of REDACTED between 2019 and 2024 to reach a market value of REDACTED. Flooded lead-acid batteries are widely used in the automotive sector, from motor vehicles, trucks, motorbikes and other vehicles such as forklifts, airport baggage carts and other industrial and commercial vehicle types. A growing inclination for pollution-free electric vehicles, coupled with technological developments, is expected to fuel product demand over the upcoming years. Flooded lead-acid batteries have the least cost per ampere hour vis-àvis any other lead-acid battery type. The automotive sector will also be a key driver of growth as electric vehicles become more popular over the forecast period driving demand for batteries.

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