Automotive Lead Acid Battery Market by Technology, Application & Geography – Analysis & Forecast to 2031 | CAGR of 3.3% | Says FMI Analyst
The global automotive lead acid battery sales is projected to
increasing, enabling the market’s valuation to reach US$ 36.2 Bn in 2031,
according to the latest research by Future Market Insights (FMI). The report
estimates the market to expand at a steady CAGR of over 3% through the course
of 2021-2031.
Flooded batteries, followed by enhanced flooded batteries
are most sought-after lead acid batteries. Flooded batteries are expected to
account for over half of sales registered in the market. The use of lead
batteries for starting, lighting and ignition (SLI) application is increasing
around the world. Easy availability of lead acid batteries and their economical
pricing as compared to other battery types will continue enabling growth in the
market over the coming decade.
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Despite advent of various advanced technologies, which
threaten replacement, lead acid batteries sales will continue surging at a
moderate pace. The rising production of passenger and commercial vehicles will
continue supporting growth through the course of the forecast period.
Also, the advent of new technologies are aiding overall
expansion. Some of the leading manufacturers are focusing on a wide range of
automotive lead acid resistance, decreasing heat generation, modification of
electrode plates, and improving charge acceptability.
These efforts are expected to improve performance of lead
acid batteries, in turn creating lucrative opportunities for increasing sales.
Key Takeaways from Market Study
- After
a period of negative growth, sales will improve 2021 onwards, enabling the
market register 2.8% y-o-y growth in 2021
- The
U.S. will account for over 86% of sales registered in North America. It is
expected to remain the dominant market through the course of the forecast
period
- Increasing
passenger vehicle production will enable sales in the U.K. to increase by
1.7% in U.K. in 2021
- Germany
and France will emerge as other key markets within Europe
- Expansion
of the automotive sector will support growth in China, followed by Japan
and South Korea
“Market players are threatened by the availability of
high-performing alternatives. The increasing demand for lithium-ion batteries
and other alternatives has been compelling them to invest in research and
development activities. This will enable the market to stay strong, registering
steady growth through the course of the forecast period,” said a lead
analyst at FMI.
Competitive Landscape
The global automotive lead acid batteries market is highly
competitive at regional as well as global level, and highly consolidated in
nature. Some of the key players included in the report are Clarios, GS Yuasa
Corporation, Panasonic Corporation, Leoch International Technology Limited,
Exide Industries Ltd., EnerSys Inc., and others. Top companies operating in the
market are occupying hefty shares in terms of revenue. With compliance to
governmental standards and regulations, these companies have a global brand
presence. Prime manufacturers are also updating their technologies to improve
their market share.
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Market Segmentation by Category
By Battery Type
- Flooded
- Enhanced
Flooded
- AGM
By Technology
- ICE
- Hybrid
- Electric
By Vehicle Type
- Passenger
Car
- LCV
By Sales Channel
- OEM
- Aftermarket
By Region
- North
America
- Latin
America
- Europe
- South
Asia
- East
Asia
- Middle
East & Africa
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Scope of Report
Attribute |
Details |
Forecast Period |
2021-2031 |
Historical Data Available for |
2016-2020 |
Market Analysis |
USD Million for Value and Tons for Volume |
Key Regions Covered |
North America, Latin America, Europe, South Asia &
Pacific, East Asia, and the Middle East & Africa, |
Key Countries Covered |
US, Canada, Germany, U.K., France, Italy, Spain, Russia,
BENELUX, China, Japan, South Korea, India, Thailand, Malaysia, Vietnam,
Indonesia, Australia, New Zealand, Turkey, Iran, and South Africa |
Key Segments Covered |
Battery Type, Technology, Vehicle, Sales Channel, Region |
Key Companies Profiled |
|
Report Coverage |
Market Forecasts, Brand Share Analysis, Competition
Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic
Growth Initiatives |
Customization & Pricing |
Key Questions Answered in Report
- Which
is the most lucrative market for automotive lead acid batteries?
The U.S. currently leads the global market for automotive
lead acid battery. The share of the U.S. market will be over 25% over the
forecast period.
- Which
is the top-selling type of automotive lead acid batteries?
Flooded lead acid batteries are preferred for many
applications. Demand for flooded lead acid batteries is expected to be high in
the near future, especially for their low-maintenance cost.
- Which
is the most lucrative application for automotive lead acid batteries?
Automotive lead acid batteries are widely used in automotive
industry related applications. Usage in starting, lighting and ignition (SLI)
and electric vehicle applications is rising day by day.
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