Automotive Lead Acid Battery Market

The global Automotive Lead Acid Battery market was valued at USD 21.35 Billion in 2020 and is projected to reach USD 28.24 Billion by 2028, growing at a CAGR of 4.10%% from 2021 to 2028.

The lead-acid battery is a storage device for electrical energy. This energy can then be used to power electrical circuits within a vehicle. These types of batteries use sponge lead (Pb) and lead peroxide (PbO2) plates immersed in sulfuric acid to convert chemical energy into electrical power. They are generally used in power stations and substations as they have high cell voltage and lower cost. These batteries are highly compatible for motor vehicles in order to supply high current required by automobile starter motors. Most modern car batteries are sealed units which reduce the amount of electrolyte lost when the charging/discharging cycle is taking place. These types of batteries last far longer than those produced even 10-20 years ago.

The global Automotive Lead Acid Battery market was valued at USD 21.35 Billion in 2020 and is projected to reach USD 28.24 Billion by 2028, growing at a CAGR of 4.10%% from 2021 to 2028.

The global Automotive Lead Acid Battery market is segmented into product, application, regions, and countries. The regional segmentation covers current and forecasts demand on the basis of North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. All the segments are analyzed on the basis of current and future trends. The report covers a complete evaluation of the market based on competition, drivers, restraints, opportunities, trends, and industry-authenticated data. The market is estimated from 2016 to 2020 and forecast from 2021 to 2028. 

Outbreak of COVID-19 led various countries impose strict lockdown measures during the initial stages of the pandemic. Numerous companies from different verticals faced challenges due to remote work environments. As a result, companies from various sectors switched to online/virtual platforms to maintain a steady flow in their daily business activities. Impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends for all the regions and countries.

The report provides a completely separate chapter for COVID-19 Impact Analysis. This chapter includes:

o   Impact Assessment of COVID-19 Pandemic

o   Pre & Post COVID-19 Market Size

o   Qualitative analysis on the short term & long term impact of COVID-19 on the market

o   The analysis provides foremost strategies adopted by competitors to minimize the impact of the pandemic on their business activities and scope for future developments.

The rising vehicle sale across the globe is anticipated to augment the growth of the lead-acid battery market during the forecast period. This is owing to the rapid urbanization, increasing disposable income of the consumers, and advancement in technologies. Furthermore, the increasing adoption of personal vehicles has also increased the global sales of automobiles which in turn is expected to support the growth of the lead-acid battery market in the forecast period.

The rising demand for low emission or zero-emission batteries is expected to support the growth of the automotive lead-acid battery market. Due to the rapid depletion of fossil fuels, lead acid batteries are becoming more widely used. Furthermore, implementation of government rules and regulations on greenhouse gas emissions from vehicles has prohibited the sale of automobiles that emit more pollutants. This is the major factor that is driving the demand for automotive lead acid batteries market.

The increasing demand for lithium-ion batteries is expected to hamper the growth of the lead-acid battery market. This is owing to the growing demand for the storage of electricity. These batteries are light weight and compact, which makes them the strongest contenders in the battery energy storage market. Also, lithium-ion batteries use non-aqueous electrolytes that offer high operating voltages compared to lead-acid batteries and these are some factors pulling the growth of market back.

Product  Analysis: Preview

On the basis of Product, the market is segmented into SLI Batteries, Micro Hybrid Batteries. SLI Batteries  held the highest share in 2020 and is expected to grow at a significant rate over the forecast period. This is attributed to the rising demand for the SLI Batteries in developing countries such as China and India. Digitalization in Asia Pacific region has led to a surge in the usage of technology in various business processes over the past few years. Rising adoption of online platforms across various sectors along with analytical solutions, IoT, AI, and Blockchain technology to gain a competitive advantage is also paving the way for the Automotive Lead Acid Battery market growth.

Type Analysis: Preview

Based on Type, the market is segmented into Flooded Batteries, Enhanced Flooded Batteries, VRLA Batteries. Flooded Batteries  held the largest share and is projected to grow at a notable CAGR over the coming years. Rising demand for Automotive Lead Acid Battery  in various countries such as the U.S., Germany, China, India, and Japan, among others is likely to support the growth of the market. Numerous companies are focusing on investing heavily in this application to cater the end user requirements effectively.

On the basis of region, the global Automotive Lead Acid Battery market is divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific region held a leading share of the global Automotive Lead Acid Battery market in 2020. Some of the major countries contributing to the market growth are the U.S., U.K., Germany, France, China, India, Japan, and South Korea. China is considered as the most lucrative country for market players. This is attributed to the presence of major companies operating in the region.

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • UK
  • France
  • Germany
  • Italy
  • Spain
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Rest of Latin America
• Middle East and Africa
  • GCC Countries
  • South Africa
  • Rest of MEA

The market comprises of numerous small, medium, and large sized players spread across various geographies. Some of the main competitors in the global Automotive Lead Acid Battery market are Saft Groupe S.A, Northstar Battery Company LLC, East Penn Manufacturing Company, Robert Bosch GmbH, Johnson Controls Inc, Panasonic Corporation, BAE Batterien GmbH, Triathlon Batteries, Trojan Battery Company, Samsung Sdi Company Limited.. The report covers company market share analysis which gives a comprehensive overview of the main competitors in the market. In addition, the report also covers major strategies adopted by market players such as new product launch, acquisitions & mergers, partnerships, collaborations & joint ventures, research & development, and regional expansion. The study also covers the product portfolio of major companies operating in the market.

• Global Automotive Lead Acid Battery Market is projected to reach USD 28.24 Billion by 2028
• Asia Pacific held the highest share of the Automotive Lead Acid Battery market
• SLI Batteries held the largest share of the product segment in the Automotive Lead Acid Battery market
• Flooded Batteries held the major share of the application segment in the Automotive Lead Acid Battery market