Global Industrial Lead Acid Battery Market Report Trends and Future Forecast Until 2024-2032

Industrial Lead Acid Battery Market Size And Forecast

Industrial Lead Acid Battery Market size was valued at USD 10.40 Billion in 2020 and is projected to reach USD 17.42 Billion by 2028, growing at a CAGR of 6.75% from 2021 to 2028.

The growing usage of lead-acid batteries in various industry segments, increasing demand for SLI batteries in commercial vehicles & passenger cars, and rising demand for e-bikes & electric vehicles are expected to drive the market over the predicted years. The Global Industrial Lead Acid Battery Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

Global Industrial Lead Acid Battery Market Definition

Lead Acid Battery is the oldest type of rechargeable battery. They have a very low energy-to-weight ratio and a low energy-to-volume ratio and have the ability to supply high surge currents. These batteries are designed to maximize current paths and lower internal resistance. They are maintenance-free and have maximum usable power. Lead-acid batteries are used in emergency lighting and to power sump pumps in case of power failure. Large lead-acid batteries are also used to power the electric motors in diesel-electric (conventional) submarines when submerged and are also used as emergency power on nuclear submarines. Based on the product, the market is classified into FLA batteries and VRLA batteries. Based on the application, the market is bifurcated into Automotive, Telecom, Transport Vehicles, UPS, and Electric Bikes.

Global Industrial Lead Acid Battery Market Overview

The growing usage of lead-acid batteries in various industry segments such as oil and gas, electricity generation, hospitality, infrastructure, construction, off-grid renewable, nuclear power, gas turbine, transport, manufacturing, and mining is expected to drive the market over the predicted years. Also, increasing demand for SLI batteries in commercial vehicles & passenger cars and rising demand for e-bikes & electric vehicles expects a boost to the market in the coming years. Additionally, advantages associated with these batteries such as simple manufacturing processes, high voltage capability, durability, and low-cost are anticipated to fuel the market during the forecasted period. There are certain restraints and challenges faced which can hinder the market growth. Factors such as the shift towards lithium-ion batteries and stringent lead emission standards are likely to act as market restraints.

Global Industrial Lead Acid Battery Market Segmentation Analysis

The Global Industrial Lead Acid Battery Market is Segmented On The Basis Of Product, Application, And Geography.

Industrial Lead Acid Battery Market, By Product

• FLA batteries• VRLA batteries

Based on the product, the market is bifurcated into FLA batteries and VRLA batteries. The VRLA batteries segment is expected to hold the largest market share. The factors can be attributed to its high output and low maintenance. Also, VRLA batteries including Absorbent Glass Mat (AGM) offer high resistance to vibration, offer a low self-discharge rate, minimize the terminal corrosion, and extend the shelf life.

Industrial Lead Acid Battery Market, By Application

• Automotive• Telecom• Transport Vehicles• UPS• Electric Bikes

Based on the application, the market is bifurcated into Automotive, Telecom, Transport Vehicles, UPS, and Electric Bikes. The Transport Vehicles segment is anticipated to have the highest CAGR in the forecasted period as it delivers high power to start the engine.

Industrial Lead Acid Battery Market, By Geography

• North America• Europe• Asia Pacific• Rest of the World

Based on regional analysis, the Global Industrial Lead Acid Battery Market is classified into North America, Europe, Asia Pacific, and the Rest of the world. The largest share in the market will be dominated by the Asia Pacific owing as the region comprises relatively developing countries that require cost-effective energy storage solutions.

Key Players

The “Global Industrial Lead Acid Battery Market” study report will provide a valuable insight with an emphasis on the global market including some of the major players such as Coslight, East Penn Manufacturing, EnerSys, Exide Technologies, GS Yuasa, C&D Technologies, Crown Battery, Daejin Battery, EverExceed, Exide Industries, HBL Power Systems, HOPPECKE, Microtex Energy, MIDAC Batteries, Navitas System, Rolls Battery, Storage Battery Systems, Su-Kam Power Systems, Trojan Battery.

Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.

Key Developments

Partnerships, Collaborations and Agreements

• On July 2020, Blink Charging and Enersys collaborated to Develop High Power Inductive/Wireless and enhanced DC Fast Charging Systems with energy storage options for the automotive market.

• On July 2021, A cohort of U.S. lead battery companies announced a collaboration with the U.S. Department of Energy’s Argonne National Laboratory and The University of Toledo to improve battery cycling efficiency, leading to longer life batteries as new applications emerge and increasingly decarbonized market.

Mergers and Acquisitions

• On January 2019, Advanced Battery Concepts were pleased to announce that Crown Battery Manufacturing Company, a lead battery manufacturer based in Fremont, Ohio, has acquired licensing rights to its full suite of GreenSeal Bipolar Lead battery technologies.

Product Launches and Product Expansions

• On March 2019, GS Yuasa Corporation announced that GS Yuasa International Ltd. launched a new automotive lead-acid storage battery plant operated by equity method affiliate inci GS Yuasa Akü Sanayi ve Ticaret Anonim Sirketi in Manisa Province, Turkey.

• On August 2019, EnerSys announced the expansion of its manufacturing capabilities at two factory locations, namely Pennsylvania and Florida, to cater to the increasing demand from the aerospace and defense segments.

• On August 2019, Narada Power won a contract from the United Nations project affairs to supply high-temperature HTB series batteries. The company gave its batteries for the Yemen Hospital power supply project, funded by the World Bank and under the responsibility of the UN project office.

• On February 2020, the company announced the launch of its SNS-TN series of valve-regulated stationary lead-acid batteries.

• On January 2021, EnerSys is teaming up with TravelCenters of America to offer Odyssey Performance and NorthStar PRO Group 31 batteries for heavy-duty applications in all TA locations throughout the United States.

• On April 2021, Crown Batteries have the opportunity to slash carbon emissions and reduce pollution. But their recyclability and carbon footprint determine their environmental impacts. The move will reduce CO2 emissions, protect the environment, and benefit the local economy.

• On September 2021, Urban Electric Power announced that its rechargeable alkaline battery had completed a critical UL testing standard for fire safety, confirming a key advantage over lithium-ion batteries, which are susceptible to thermal runaway. An independent testing laboratory heated a zinc manganese-dioxide cell from Urban Electric Power to over 1,000 degrees Fahrenheit.

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Reasons to Purchase this Report:

• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players• The current as well as the future market outlook of the industry with respect to recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions• Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis• Provides insight into the market through Value Chain• Market dynamics scenario, along with growth opportunities of the market in the years to come• 6-month post-sales analyst support

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