The automotive lead acid battery market is expected to grow from US$ 16,860.5 million in 2020 to US$ 23,668.0 million by 2028; it is estimated to grow at a CAGR of 4.33% during 2020-2028.
Continuous production and acceptance of mild hybrid vehicles by top manufacturers such as Ford and Volkswagen is contributing to the rise of lead acid batteries for automotive applications.Also, the growing income of masses is further creating the demand for cars, which is positively boosting the production of cars.
Therefore, countries such as India, are attracting attention of gigantic automakers for the establishment of car manufacturing plants.Recently, Tesla has announced about the establishment of a manufacturing plant in India.
Such plants for automotive production would eventually create the demand for lead acid batteries as well. Furthermore, use of 12-volt lead acid batteries and regulations for BSVI compliant vehicles are also projected to foster the development phase of lead acid batteries.
Based on product, the SLI segment is expected to grow at a higher CAGR during the forecast period.SLI battery is designed for cars.
Hence, it is always installed with the charging system of the vehicle.Hence, whenever the vehicle is in use, there is a continuous cycle of charge and discharge in the battery.
SLI automotive batteries are designed to be fully charged at the time of starting the vehicle; and after the ignition, the lost charge, typically around 2% to 5% of the charge, is replaced by the alternator.Such batteries are not manufactured to be discharged below 50% depth of discharge (DOD) and when discharged below these levels, plates can get damaged and battery life may get reduced.
Based on type, the market is segmented into flooded, enhanced flooded, and VRLA. Similarly, based on end user, the market is segmented into passenger car, light commercial vehicle (LCV), and medium commercial vehicle (MCV) and heavy commercial vehicle (HCV). In terms of geography, in 2020, APAC was the fastest growing region. Increasing disposable income of individuals, coupled with rising economy, has led to the surge in the sales of passenger cars and commercial vehicles in the past few years. The region has become a global manufacturing hub due to the presence of a robust automotive industry. Rise in awareness about vehicle emissions, maintenance costs, and lower operating, and increase in government initiatives across the region are propelling the adoption of electric vehicles, thereby driving the automotive lead acid battery market.
The COVID-19 outbreak has severely disrupted the supply chain and manufacturing of electronics equipment, including the hardware component of automotive lead acid batteries.The emergence of COVID-19 virus across the globe, followed by lockdown scenarios, has led the automotive industry experts to analyze that the industry would face at least a quarter of lag in automotive equipment supply chain.
This disruption is expected to create tremors through till mid-2021.The electronics equipment and automotive industry is likely to pick up pace soon after the governments across the globe lift the various containment measures steadily in order to revive the economy.
The production of the electronics equipment and automotive is anticipated to gain pace from 2022, which is further foreseen to positively influence the electronics equipment and automotive manufacturing, including hardware components of automotive lead acid batteries. The overall automotive lead acid battery market size has been derived using both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.
The process also serves the purpose of obtaining an overview and forecast for the automotive lead acid battery market with respect to all the segments pertaining to the region.Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic.
The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the automotive lead acid battery market. Clarios; Exide Industries Limited; GS Yuasa International Ltd; Johnson Controls, Inc.; and Panasonic Corporation are among the key players operating in the market.
Our reports have been used by over 10K customers, including:
The global micro battery market size is estimated at USD 326 million in 2021. It is projected to reach USD 842 million by 2026; it is expected to grow at a CAGR of 20.9% from 2021 to 2026. The growth of the micro battery market is driven by factors such as the use of printed flexible batteries in medical devices to treat COVID-19 patients,...
The global residential battery market was valued at USD 9.87 billion in 2020, and it is anticipated to reach USD 23.03 billion by 2026, at a CAGR of 15.84% during 2021-2026. The COVID-19 pandemic is expected to moderately impact the market due to the decrease in electricity consumption from industrial & commercial sectors and the reduction...
Asia Pacific electric three-wheeler market is estimated to be 156,397 units in 2021 and is projected to grow to 486,446 units by 2026, at a CAGR of 25.5% during the forecast period. Electric three-wheelers run on the electrical energy stored in the rechargeable battery unit. These battery units can either be charged through an external power...
Charging up: Industry revenue is expected rise, as the industry recovers from the COVID-19 outbreak Abstract Lithium Battery Manufacturing in the UK Companies operating in this industry manufacture lithium and lithium-ion batteries. Industry products are most commonly used in vehicles and electronic...
The global UPS battery market was valued at US$ 695.6 million in 2020 and is projected to reach US$ 1,475.7 million by 2028; it is expected to grow at a CAGR of 10.6% from 2021 to 2028. The battery is one of a crucial component of an uninterruptible power supply (UPS).The UPS battery is accountable for long life span and good performance...
The battery testing equipment market was valued at US$ 452.40 million in 2019 and is projected to reach US$ 653.71 million by 2027; it is expected to grow at a CAGR of 4.7% from 2020 to 2027. North America is the most technologically advanced region across the World, with major economies such as the US, Canada, and Mexico.The developed...
The dimethyl carbonate market is projected to grow from USD 797 million in 2020 to USD 1,078 million by 2025, at a CAGR of 6.2% from 2020 to 2025. The increasing demand for polycarbonates and lithium-ion batteries is expected to drive the global dimethyl carbonate market. Based on application, the battery electrolyte segment is projected...
The market for lithium-ion battery (LIB) separator is expected to register a CAGR of more than 18.01%, during the forecast period 2020-2025. Major factors driving the market studied are the increasing adoption of lithium-ion batteries that significantly complements the growth of the lithium-ion battery separator market, as separators are an...
The global thin film and printed battery market size is projected to grow from USD 98 million in 2020 to USD 296 million by 2025; it is expected to grow at a CAGR of 24.7% from 2020 to 2025. The growth of the thin film and printed battery s market is majorly driven by growing demand for thin film and printed batteries for use in wearables,...
The market for lithium-ion batteries is expected to register a CAGR of 22.58%, during the forecast period (2020-2025). Major factors driving the market studied are the emergence of new and exciting markets, via electric vehicle and energy storage systems (ESS), for both commercial and residential applications, declining lithium-ion battery...
Electric Vehicle Sales
Greenhouse Gas Emissions
You can change your Cookie Settings at any time but parts of our site will not function correctly without them.