Global Automotive Lead-Acid Battery Market Driven by the Increasing Sales of Automobiles
The global automotive lead-acid battery market size reached US$ 12.7 Billion in 2021. Looking forward, the market to reach US$ 15.0 Billion by 2027, exhibiting at a CAGR of 2.6% during 2022-2027, according to the latest report by IMARC Group.
A lead-acid battery is made up of lead and lead oxide plates, immersed in a sulfuric acid solution. It converts chemical energy into electrical power during the discharge cycle. These batteries are widely employed for starting, lighting, and ignition (SLI) purpose in automobiles. They also supply voltage to vehicle accessories like air conditioners, radio, music players, wipers, and charging plugs. These batteries have a sizeable power-to-weight ratio and consequently, can provide surge currents required by automotive starter motors.
Market Trends
Escalating automobile sales is the key factor driving the market growth, particularly in emerging regions like Asia Pacific and the Middle East. Since these batteries are low in cost and easily rechargeable, they are preferred by automotive manufacturers for use in start-stop systems. Additionally, increasing demand for electric vehicles and e-bikes owing to improving living standards and inflating income levels is another major factor which is influencing the sales of lead-acid batteries. Moreover, manufacturers are continually engaging in research and development activities with the aim to improve the efficiency of these batteries.
Competitive landscape
Some of the key players operating in the market being Exide Technologies Inc., GS Yuasa Corporation, Reem Batteries & Power Appliances Co. Saoc, Enersys Inc., Saft Groupe S.A., Northstar Battery Company LLC., Johnson Controls Inc., Exide Industries Ltd., Robert Bosch GmbH, C&D Technologies, Inc., East Penn Manufacturing Company, Panasonic Corporation, Trojan Battery Company, Samsung Sdi Company Limited, Leoch International Technology Ltd, Koyo Battery Co., Ltd., Tai Mao Battery Co., Ltd., PT Century Batteries Indonesia, Thai Bellco Battery Co., Ltd., and CSB Battery Co., Ltd. (Hitachi Chemical Energy Technology Co. Ltd.).
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Insights on Market Segmentation:
Breakup by Vehicle Type
Passenger Cars
Commercial Vehicles
Two-Wheelers
HEV Cars
Breakup by Product
SLI Batteries
Micro Hybrid Batteries
Explore full report with table of contents: https://www.imarcgroup.com/automotive-lead-acid-battery-market
Breakup by Type
Flooded Batteries
Enhanced Flooded Batteries
VRLA Batteries
Breakup by Customer Segment
OEM
Replacement
Breakup by Region
Asia Pacific
North America
Europe
Middle East and Africa
Latin America
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.