Automotive Lead-Acid Battery Market

2021-2030 Analysis and Review Automotive Lead-Acid Battery Market

Automotive Lead-Acid Battery Market

Automotive Lead-Acid Battery Market By Product (SLI Batteries, Micro Hybrid Batteries), By Battery (Flooded Batteries, Enhanced Flooded Batteries, VRLA Batteries), By End User (Passenger, LCV & HCV, Two Wheelers, Three Wheelers), By Customer Segment (OEM Batteries, Aftermarket Batteries) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2021 – 2030

09-11-2021 REP-HC-139302 99 pages Format

Global automotive lead-acid battery market is estimated to grow at a CAGR of 4.1% during the forecast period (2022-2030). Rising automotive vehicles production across the globe is the key driver for the global automotive lead acid battery market. Lead-acid batteries are used in automotive for SLI (Starting, Lightening and ignition) and MLA (Motive Lead Acid batteries) in railroad, mining, heavy duty equipment and others.

Automotive Lead-Acid Battery Market

SLI Battery Dominates the Product Segment

The SLI battery is mainly designed for automobiles and it is always installed with the vehicle’s charging system so that there is a continuous cycle of discharge and charge in the battery whenever the vehicle is in use. Nominal capacity is an important specification of an SLI battery. The rising production of vehicles across the world leads to high demand of starting lightning and ignition batteries. Moreover, the rising investment by automobile manufacturers in the Asia Pacific is also driving the market of SLI batteries in this region for example General Motors aimed at investing around US$ 1 billion in India by 2020, to increase the capacity at the Talegaon plant in Maharashtra from 130,000 units a year to 220,000 by 2025. Global automotive lead acid battery market by SLI battery segment is anticipated to rise with a CAGR of 4.0% during the forecast period.

Flooded Batteries Remain as The Largest Automotive Lead Acid Battery Type Segment

According to Society of Automotive Engineers (SAE International), Michigan, most of the conventional start-stop systems such as automotive and hybrid electric vehicles typically uses flooded batteries. According to Society of Automotive Engineers (SAE International), Michigan, most of the conventional start-stop systems such as automotive and hybrid electric vehicles typically uses flooded batteries. Flooded batteries are more resistant to overcharging as they are filled with water. Also, flooded lead acid batteries are a perfect choice for gas powered vehicles. Vehicle electrification demands flooded batteries for performing immediate ignition which contributes to the growth of the global automotive lead acid battery market during the forecast period. United States has announced to electrify about 70% of its vehicles in China by the end of 2025. This has increased the demand for automotive lead acid batteries which fuels growth in the global automotive lead acid market during the forecast period. Global automotive lead acid battery market by flooded batteries is expected to rise with a CAGR of 3.8% during the forecast period.

APAC Remains as The Market Leader

Geographically, the global automotive lead-acid battery market has been segmented into North America, Europe, Asia Pacific and Rest of the world (ROW). Asia-Pacific is dominating region in the global automotive lead-acid battery market with a revenue of share of 33.20 % in the year 2020.  Moreover, APAC is anticipated to be the fastest growing region in the global automotive lead acid battery market with a CAGR of 4.8 % during the forecast period. China dominated the automotive lead acid battery market in Asia-pacific in 2020. According to Ministry of Transport, 66% of the total manufacturers, considering the manufacturing and production of electric vehicles contribute to the automotive lead acid battery market in China. According to IEA (International energy agency), ~40% of the overall World’s electric vehicles are produced and manufactured in China which makes it the dominating country considering the manufacturing of electric vehicles on the global scenario as the market for the electric vehicles is on the constant rise along with China being the largest producer of electric vehicles across the globe.

Intense Competition Demanding Innovating Strategies to Enhance Market Shares

Over the years, Automotive lead acid battery market has expanded with various regional players investing and offering cost effective options for consumers. Competition within the automotive lead acid battery market has increased significantly, thus manufacturers are opting for different strategies to overcome the competition and maintain lead in the global market. Product launch, acquisition, collaboration, partnerships, and joint venture, are some of the known strategies amongst battery manufacturing companies within global Automotive lead acid battery market. In automobile lead acid battery market, strategic partnerships circumvent mainly around companies either one having more than one business asset or expertise to help each grow. Top companies in this market include Crown Battery, North Star Ltd, Johnson Controls Inc, Exide Technologies Inc, Enersys.

Historical &Forecast Period

This research report presents the analysis of each segment from 2020 to 2030 considering 2021 as the base year for the research. Compounded annual growth rate (CAGR) for each respective segment are calculated for the forecast period from 2021 to 2030.

Report Methodology

Market revenues andCAGR were derived from primary and secondary research. Both quantitative and qualitative trends were considered for extrapolation of market revenues. The derived market estimates were further validated from top down, bottom strategies and primary research. The scope of the market is limited to the following segments of product categories and region.

By Product Type (2020-2030; US$ Mn)

  • SLI Batteries
  • Micro Hybrid Batteries

By Battery Type(2020-2030; US$ Mn)

  • Flooded Batteries
  •  Enhanced Flooded Batteries
  • VRLA Batteries

By End User(2020-2030; US$ Mn)

  • Passenger
  • LCV & HCV
  • Two Wheelers
  • Three Wheelers

By Customer Segment (2020-2030; US$ Mn)

  • OEM Batteries
  • Aftermarket Batteries

By Region (2020-2030; US$ Mn)

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Africa

Global Impact of Covid-19 Segment (2020-2021; US$ Mn)

  • Pre Covid-19 situation
  • Post Covid-19 situation

Key questions answered in this report

  • What are the key market segments in current scenario and in the future by product categories?
  • What are the key market segments in current scenario and in the future by regions?
  • What is the key impact of Covid-19 over market revenues and market determinants in the global automotive lead acid battery market?
  • What are the primary and secondary macro and micro factors influencing the market growth currently and during the forecast period?
  • What are the primary and secondary macro and micro factors deterring the market growth currently and during the forecast period?
  • How to overcome the current market challenges and leverage the opportunities in each of the market segment?
  • Who are the key players in the operational predictive maintenance market and what are their key product categories and strategies?
  • What are the key strategies – mergers/acquisitions/R&D/strategic partnerships etc. that companies are deploying to enhance market revenues and growth?

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