Global Automotive Lead-Acid Battery Industry: Key Statistics and Insights in 2024-2032
Summary:
- The global automotive lead-acid battery market size reached USD 13.3 Billion in 2023.
- The market is expected to reach USD 16.3 Billion by 2032, exhibiting a growth rate (CAGR) of 2.2% during 2024-2032.
- Asia Pacific leads the market, accounting for the largest automotive lead-acid battery market share.
- Commercial vehicles account for the majority of the market share in the vehicle type segment,which can be attributed to the rising demand for convenient transportation solutions among individuals.
- SLI batteries hold the largest share in the automotive lead-acid battery industry.
- Flooded batteries remain a dominant segment in the marketdue to their ability to deliver robust current bursts to ensure reliable engine ignition.
- OEM represents the leading customer segment.
- The rising vehicle production is a primary driver of the automotive lead-acid battery market.
- Recyclability and sustainability initiatives and the increasing focus on cost-effective solutions are reshaping the automotive lead-acid battery market.
Industry Trends and Drivers:
- Increasing Vehicle Production:
The rising vehicle production, particularly in emerging markets, is impelling the market growth. Countries like India, China, and Brazil are experiencing rapid urbanization, driving the demand for personal and commercial vehicles. People are increasingly purchasing vehicles due to their inflating income levels. Vehicles provide enhanced convenience to individuals living in both rural and urban spaces. Moreover, changing living standards of individuals is catalyzing the demand for vehicles. Lead-acid batteries are essential for starting, lighting, and ignition (SLI) functions in internal combustion engine (ICE) vehicles. In line with this, there is an increase in the demand for these batteries as manufacturers ramp up vehicle production to meet consumer needs.
- Rising Focus on Cost-Effective Solutions:
Lead-acid batteries are renowned for their cost-effectiveness as compared to alternative energy storage solutions, such as lithium-ion batteries. This affordability makes them the preferred choice for many consumers and manufacturers, particularly in budget-sensitive markets. The initial purchase price of lead-acid batteries is significantly lower, which appeals to vehicle manufacturers seeking to keep production costs down. Additionally, the well-established supply chain and production processes for lead-acid batteries contribute to their lower prices. This economic advantage is particularly crucial in regions where cost considerations dominate purchasing decisions. Furthermore, the maintenance and replacement costs of lead-acid batteries are relatively low, enhancing their attractiveness as a reliable energy source for vehicles.
- Recycling and Sustainability:
The lead-acid battery market benefits significantly from its high recycling rates and established sustainability practices. Lead-acid batteries are recycled, making them one of the most recycled consumer products globally. The recycling process recovers lead and sulfuric acid, reducing the need for raw materials and minimizing environmental impact. This high recycling rate appeals to eco-conscious individuals and manufacturers who prioritize sustainable practices. Governing agencies of various countries are encouraging the adoption of these batteries by implementing stringent policies regarding environmental pollution. As sustainability becomes an increasingly critical factor for consumers and businesses alike, the lead-acid battery’s recycling and sustainability attributes will likely continue to drive market demand.
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Automotive Lead-Acid Battery Market Report Segmentation:
Breakup By Vehicle Type:
- Passenger Cars
- Commercial Vehicles
- Two-Wheelers
- HEV Cars
Commercial vehicles account for the majority of shares, which can be attributed to the increasing demand for convenient transportation solutions among individuals.
Breakup By Product:
- SLI Batteries
- Micro Hybrid Batteries
SLI batteries dominate the market on account of the rising focus on providing the high cranking currents required to start the engine reliably.
Breakup By Type:
- Flooded Batteries
- Enhanced Flooded Batteries
- VRLA Batteries
Flooded batteries represent the majority of shares due to their ability to deliver robust current bursts to ensure reliable engine ignition.
Breakup By Customer Segment:
- OEM
- Replacement
OEM hold the majority of shares as it is the primary suppliers of batteries to vehicle manufacturers during the production process.
Breakup By Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Asia Pacific enjoys the leading position owing to a large market for automotive lead-acid battery driven by the robust automotive manufacturing ecosystem.
Top Automotive Lead-Acid Battery Market Leaders:
The automotive lead-acid battery market research report outlines a detailed analysis of the competitive landscape, offering in-depth profiles of major companies. Some of the key players in the market are:
- C&D Technologies Inc.
- Clarios
- CSB Energy Technology Co. Ltd (Showa Denko K.K.)
- East Penn Manufacturing Company
- EnerSys
- Exide Industries Ltd.
- GS Yuasa Corporation
- Koyo Battery Co., Ltd.
- Leoch International Technology Ltd
- PT. Century Batteries Indonesia
- Robert Bosch GmbH
- Thai Bellco Battery Co. Ltd.
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