Global Lead Acid Battery Market Analysis & Outlook 2030
21 Oct 2022
Energy & Power
Impact Analysis on the Growth of Market
Inflation and Looming Recession to Haunt Businesses:
In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022...
The Research Report is Updated with 2022 Base Year, 2023 Estimated year and Forecast till 2035 with Market Insights.
With the dip in global production, the GDP has contracted in 2020 and impacted the market across the world. Upon placing a Sample Request, you will receive an updated report with 2022 as base year, 2023 as estimated year and forecast to 2035. This will have market drivers, recovery rate in the market, insights and competitive analysis.
Worldwide Lead Acid Battery Market size is estimated at USD 50 billion in 2021 and is expected to expand at a CAGR of 5% over the period 2022-2030. The market is assessed to observe development inferable from the developing reception of lead corrosive batteries in auto and Uninterruptible Power Source (UPS) alongside certain improvements in the assembling strategies. Expanding interest for the item in off-matrix power age is relied upon to support the market size.
Advancement in the transportation business, alongside an increment in energy stockpiling application is projected to drive industry interest in the impending future. Fast development of the business vehicle, bike, and traveler vehicle fabricating ventures is additionally projected to drive the item interest. Developing interest for UPS in different areas, like banking, oil and gas, medical services, and synthetics is decidedly driving the interest. One of the limiting components for the market is the presence of lead content as the battery material, presenting unfriendly consequences for the climate. Likewise, the declining cost of lithium batteries has slowed down the interest, basically attributable to the mechanical headways offered by the previous. Nonstop decrease in cost is probably going to build up additional on lithium-particle in various energy stockpiling markets, which is likewise expected to limit the market.
Notwithstanding, progressions in the car business in India, Brazil, Mexico, South Korea, Indonesia, Thailand, and Vietnam are expected to set out development open doors for the market. Expanding interest for contamination free electric vehicles combined with mechanical progressions is projected to fuel the interest for lead-corrosive batteries throughout the forthcoming years.
Beginning, Lighting, and Ignition (SLI) batteries added to the biggest income portion of the lead-corrosive battery market in 2019. It is projected to observe slow development over the conjecture time frame, because of more appeal for different sorts of items including writing material and rationale. Notwithstanding, expanding request in applications requiring high force including auto is expected to emphatically impact the fragment development.
Expanding vehicle producing, especially in China, Japan, India, Brazil, Mexico, South Korea, and the U.S. is relied upon to advance development over the estimate time frame. For example, In October 2018, Amara Raja Batteries consented to an arrangement with Johnson Controls to dispatch another battery innovation in India which give modern customer highlights and severe outflow principles for the car business. Such drives are expected to drive the interest for lead-corrosive batteries during the gauge time frame.
Development Method Insights:
The overwhelmed lead-corrosive battery area was the biggest portion by the development technique in 2020. It is relied upon to lose portion of the overall industry attributable to high support cost alongside complex development. In any case, expanding interest for fixed applications will fuel market development over the gauge time frame.
Valve Regulated Lead Acid (VRLA) section held a 31% portion of the overall industry in 2020 and is expected to observe the most elevated development over the figure time frame. Rising interest in auto applications inferable from high yield and low support of the item will fuel the development. Likewise, VRLA batteries including Absorbent Glass Mat (AGM) offer high protection from vibration, limit the terminal erosion, broaden the timeframe of realistic usability, and offer a low self-release rate. High accessibility of different sizes is projected to additional fuel the interest over the conjecture time frame.
Car was the biggest application portion in 2020 as far as income share. The broad use of lead-corrosive batteries in the auto area is relied upon to observe development because of the rising auto area. The presence of large car players, for example, TATA, Maruti Suzuki, Infinium Toyota, Mahindra, Mitsubishi, Hyundai, Honda, and Nissan have fuelled the development of the auto area in the Asia Pacific, because of their solid circulation channels and simple item accessibility at affordable costs.
UPS represented 10% of the worldwide piece of the pie as far as income in 2020. The fragment is relied upon to witness the most elevated CAGR of 7% from 2022 to 2030. Developing interest in different businesses including medical clinics, ventures, instructive organizations, corporate workplaces, research foundations, and houses is projected to fuel the development of the fragment in the impending years.
The Asia Pacific held the main portion of the overall industry in 2020. The developing development industry in arising nations, for example, China, India, Japan, Malaysia, South Korea, Vietnam, and Indonesia is projected to drive the use of lead-corrosive battery. As per the Society of Indian Automobiles Manufacturers, the complete auto deals developed by 14.22% in 2017-2018 more than 2016-2017. Extension in car deals will prompt the development of SLI lead-corrosive batteries. Asia Pacific is expected to be the most worthwhile market as far as CAGR during the conjecture time frame because of expanding interest for energy stockpiling batteries in China and India. Besides, great unofficial laws intended to create speculations from public-private associations and Foreign Direct Investments (FDI) are assessed to fuel local item interest.
Lead Acid Battery Market Share Insights:
The market is divided in nature because of the presence of numerous producers. It is described by the presence of countless market major parts in the U.S, China, and Japan. Joint endeavors and consolidations and acquisitions are a portion of the key techniques embraced by the organizations to build their market presence. The market is profoundly cutthroat in nature with members associated with nonstop item development and R&D exercises. Key producers incorporate East Penn Manufacturing Co.; Exide Technologies; Johnson Controls; ATLASBX Co. Ltd.; NorthStar; C&D Technologies, Inc.; Narada Power Source Co., Ltd.; Amara Raja Corporation GS Yuasa Corp; Crown Battery Manufacturing; and Leoch International Technology Ltd.
Sections Covered in the Report:
This report figures income development at worldwide, local, and nation levels and gives an examination of the most recent industry patterns in every one of the sub-portions from 2022-2030. With the end goal of this examination, Grand View Research has divided the worldwide battery market report based on item, development technique, application, and district:
Item Outlook (Revenue, USD Million, 2022-2030):
Development Method Outlook (Revenue, USD Million, 2022-2030)
Application Outlook (Revenue, USD Million,2022-2030)
The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:
- North America (U.S. & Canada) Market Size, Y-O-Y Growth, Market Players Analysis & Opportunity Outlook
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC(Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market Size, Y-O-Y Growth Market Players Analys & Opportunity Outlook
- Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market Size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook