Global Lead Acid Battery Market Size, Share, Growth Analysis, By Product(SLI, Stationary), By Construction method(Flooded and VRLA.) - Industry Forecast 2024-2031

Global Lead Acid Battery Market size was valued at USD 38.97 Billion in 2022 and is poised to grow from USD 40.92 Billion in 2023 to USD 60.46 Billion by 2031, at a CAGR of 5% during the forecast period (2024-2031).

The competitive landscape of the global lead acid battery market can be described as moderately fragmented, with several key players operating at both global and regional levels. These companies are highly focused on technological advancements in battery and energy storage solutions. They are also actively engaged in forming strategic partnerships to enhance their product portfolios and establish a strong foothold in the global market. One example of such strategic initiatives is Exide Industries, which has recently approved a merger scheme with its subsidiary, Chloride Power Systems and Solutions. Chloride Power Systems and Solutions specializes in the manufacturing of battery chargers, transformers, distribution boards, printed circuit boards, battery health monitoring systems, various brands of lead acid storage batteries, and home UPS. This merger will enable Exide Industries to expand its offerings and strengthen its presence in the market. In a similar vein, Ecobat, a prominent company involved in lead acid battery recycling and distribution, acquired Emrol, a battery distributor in Belgium, in October 2021. This acquisition was aimed at expanding Ecobat's range of batteries and operations, allowing them to serve a broader customer base. These strategic moves reflect the dynamic nature of the lead acid battery market, as companies strive to position themselves for growth and gain a competitive edge in the industry. 'Johnson Controls - US', 'Exide Technologies - US', 'East Penn Manufacturing - US', 'GS Yuasa Corporation - Japan', 'EnerSys - US', 'Clarios - US', 'Leoch International - China', 'C&D Technologies - US', 'Crown Battery Manufacturing - US', 'HOPPECKE Batterien - Germany', 'Amara Raja Batteries - India', 'Enersys Europe - Belgium', 'Exide Industries - India', 'Narada Power Source - China', 'NorthStar - US', 'FIAMM Energy Technology - Italy', 'CSB Battery - Taiwan', 'Power Sonic Corporation - US', 'Chaowei Power Holdings - China', 'Daramic - US'

Growing Demand from Automotive Sector:

Growing Demand for Energy Storage: Lead acid batteries are being increasingly utilized for energy storage applications, particularly in renewable energy systems and off-grid power solutions. The need for reliable and cost-effective energy storage options is driving the demand for lead acid batteries.

Asia Pacific dominated the market in 2022 and is likely to continue so during the forecast period. This is attributed to the increasing demand for cost-effective energy storage solutions in emerging economies. Countries like China, Singapore, South Korea, Japan, and India have witnessed extensive utilization of lead-acid battery systems in diverse sectors, including industrial, commercial, residential, and transportation, for energy and power storage purposes. Consequently, these countries offer promising growth prospects for various manufacturers of lead acid batteries operating in the region.