Lead–Acid Battery Market to Reach $81.4 Billion, Globally, by 2032 at 4.6% CAGR: Allied Market Research

Increase in the application of renewable energy systems across the globe has led to rise in demand for energy storage devices. Rise in demand for energy storage systems has boosted the demand for lead acid battery. In addition, surge in the automotive sector in developing countries has a positive impact on the demand for lead acid battery.

Wilmington, Delaware, April 08, 2024 (GLOBE NEWSWIRE) — Allied Market Research published a report, titled, Lead–Acid Battery Market by Product (SLI, Stationary, and Motive), Construction Method (Flooded and Valve Regulated Sealed Lead–acid battery (VRLA)), and Application (Automotive, UPS, Telecom, and Others): Global Opportunity Analysis and Industry Forecast, 2023-2032″. According to the report, the “lead–acid battery market” was valued at $52.1 billion in 2022, and is estimated to reach $81.4 billion by 2032, growing at a CAGR of 4.6% from 2023 to 2032.

Download PDF Brochure: https://www.alliedmarketresearch.com/request-sample/A05962

Prime determinants of growth

The global lead acid battery market is experiencing growth due to several factors such as lead acid battery being a cost-efficient energy storage solution, and the presence of recyclability of lead acid battery over lithium-ion battery. However, the emerging and existing alternatives available in the market hinder the lead acid battery market growth. Moreover, surge in demand for data centers where lead acid batteries are utilized as emergency backup provides opportunities for the development of the lead acid battery market.

Report coverage & details:

Report Coverage Details
Forecast Period 2023–2032
Base Year 2022
Market Size in 2022 $52.1 billion
Market Size in 2032 $81.4 billion
CAGR 4.6%
No. of Pages in Report 210
Segments Covered Product, Construction Method, Application, and Region.
Drivers
  • Lead acid battery as a cost-efficient energy storage solution
  • Recyclability associated with lead-acid batteries over lithium-ion batteries
Opportunity
  • Need to expand data centers
Restraint
  • Emerging and existing alternatives in the market

The SLI segment is expected to grow faster during the forecast period.

By product, the SLI segment held the highest market share in 2022, accounting for nearly three-fifths of the lead acid battery market revenue, and is estimated to maintain its leadership status during the forecast period. Lead acid battery is widely utilized in starting, lighting, and ignition of vehicles. Increase in demand for automotive vehicles for transportation has a positive impact on the demand for lead acid battery. However, the stationary segment is projected to attain the highest CAGR of 5.2% from 2023 to 2032. Stationary lead-acid batteries are widely used in energy storage systems that are widely utilized in renewable energy generation, and emergency backup in residential, and data centers. 

Procure Complete Report (210 Pages PDF with Insights, Charts, Tables, and Figures) @ https://www.alliedmarketresearch.com/checkout-final/lead-acid-battery-market

The flooded segment is expected to lead the trail by 2032

By construction method, the flooded segment held the highest market share in 2022, accounting for nearly three-fourths of the lead acid battery market revenue, and is estimated to dominate during the forecast period. The presence of an established infrastructure for the production, distribution, and recycling of flooded lead-acid batteries in many regions, further contributes to their widespread adoption. However, valve regulated sealed lead acid battery segment is projected to attain the highest CAGR of 4.9% from 2023 to 2032. As environmental regulations become stricter, there is a growing demand for environmentally friendly battery solutions. VRLA batteries, being sealed and maintenance-free, are perceived as more environmentally friendly as compared to traditional flooded lead-acid batteries, which require regular maintenance and have a higher risk of electrolyte leakage.

The automotive segment dominate the market by 2032

By application, the automotive segment held the highest market share in 2022, accounting for nearly three-fifths of the lead acid battery market revenue, and is estimated to dominate during the forecast period. The rapid development in transportation infrastructure and the development of e-commerce across the globe have driven the demand for lead acid battery. However, the others segment is projected to attain the highest CAGR of 5.6% from 2023 to 2032. Increase in the utilization of electric vehicles has led to rise in demand for EV charging infrastructure. The presence of demand of EV charging infrastructure has led to the utilization of lead acid battery for energy storage. The surge in the investment in this sector is expected to provide ample opportunities for the development of the lead acid battery market.

The Asia-Pacific segment dominates the market by 2032

Region-wise, Asia-Pacific held the highest market share in 2022, accounting for nearly two-fifths of the lead acid battery market revenue, and is estimated to dominate during the forecast period. Furthermore, the Asia-Pacific segment is projected to register the highest CAGR of 5.0% from 2023 to 2032. The presence of huge population-based countries in this region has led to increase in demand for lead acid battery in the automotive industry, and emergency backup is expected to drive the demand for lead acid battery market.

For Purchase Inquiry: https://www.alliedmarketresearch.com/lead-acid-battery-market/purchase-options

Leading Market Players: –

  • EnerSys
  • Exide Industries
  • Crown Battery
  • East Penn
  • HOPPECKE
  • NorthStar
  • Hitachi Chemical
  • Teledyne Technologies
  • Hankook AltasBX
  • C&D Technologies

The report provides a detailed analysis of these key players in the lead acid battery market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

Trending Reports in Lead–Acid Battery Industry:

Lithium-ion Battery Market: Analysis and Industry Forecast, 2023-2032

Battery Materials Recycling Market: Global Opportunity Analysis, 2023-2032

Lithium-Iron Phosphate Batteries Market: Analysis and Forecast, 2023-2032

Electric Scooter Battery Market: Trends & Forecast, 2021-2030

Lithium-Ion Battery Recycling Market: Analysis and Industry Forecast, 2021-2030

Solar Battery Market: Global Opportunity Analysis and Industry Forecast, 2020-2027

About us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact us:

David Correa
1209 Orange Street,
Corporation Trust Center,
Wilmington, New Castle,
Delaware 19801 USA.
Int’l: +1-503-894-6022
Toll Free: +1-800-792-5285
Fax: +1-800-792-5285
help@alliedmarketresearch.com
Web: https://www.alliedmarketresearch.com/reports-store/energy-and-power
Follow Us on | Facebook | LinkedIn | YouTube

Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. IndiaShorts takes no editorial responsibility for the same.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Privacy & Cookies Policy