Lead Acid Battery Market Outlook to 2028

Power supply portability has always been invaluable to humanity. Lead-acid batteries have been serving this purpose for nearly a century, evolving considerably since their invention in 1859. Currently, lead-acid batteries are used in various industries ranging from vehicle starter batteries, and mobile industrial applications (e.g., forklifts and other automated guided vehicles) to stationary power storage (e.g., uninterruptable power supply (UPS) and off-grid energy storage).

Drivers:

• Growing staring, lightning, and ignition (SLI) applications in the automotive industry
• Expanding infrastructure of data centers and telecommunication are driving the lead-acid battery market.
• Increasing investments in electric vehicles and growing manufacturing activities in emerging economies boost lead-acid battery sales
• Increasing lithium metal prices are
• Increasing aftermarket sales in UPS and transportation are driving the market for lead-acid batteries

Lead-acid batteries are rechargeable batteries that use sponge lead and lead peroxide to convert chemical energy into electrical power. Such a type of battery is called a lead-acid battery.

A lead cell is made from three essential components: the cathode, anode, and electrolyte; where the cathode is the positive terminal,the anode is the negative terminal, and the electrolyte connects both these terminals to drive an electrochemical reaction to produce electricity. A battery composed of sponge metallic lead anode, lead-dioxide cathode, and sulphuric acid solution electrolyte is called a lead-acid battery.

Advantages of Lead Acid Batteries:

• Low-cost and simple manufacture Low cost per watt-hour
• High specific power
• capable of high discharge currents
• Good performance at low and high temperatures
• No block-wise or cell-wise Battery Management Systems (BMS) required

Dis-Advantages of Lead Acid Batteries:

• Low specific energy; poor weight-to-energy ratio
• Slow charging: Fully saturated charge takes 14-16 hours. Need for storage in charged condition to prevent sulfation Limited cycle life; repeated deep-cycling reduces battery life Watering requirement for flooded type
• Transportation restrictions for the flooded type
• Adverse environmental impact

Lead-acid batteries find wide usage in automobiles as it delivers high power to start the engine. The Lead-acid batteries used in forklifts, golf carts, and industrial cleaners. High use of lead-acid batteries in forklifts for low cost, reliability, and a well-established product supply chain is likely to positively influence the market. The lead-acid battery is widely used in automobiles The superior , quality, safety, and recycling process of these batteries are anticipated to increase the market growth over the forecast period.

Lead Acid Battery Market Opportunities:

• Increase in renewable energy generation will help to increase the demand for lead acid battery market
• Growing demand for uninterrupted power supply (UPS) in homes, offices etc increases the demand for lead acid battery market

Lead Acid Battery Market Restraints:

• Low cost energy storage systems alternatives and the safety concerns related with the battery usage
• Increasing adoption as well as popularity of lithium-ion batteries hampers the market growth to a great extent
• Stringent Government Regulations to reduce emissions

Lead Acid Battery Recent Developments:

• In March 2019, GS Yuasa Corporation has announced that GS Yuasa International Ltd. launched a new automotive lead-acid storage battery plant operated by equity method affiliate inci GS Yuasa Akü Sanayi ve Ticaret Anonim Sirketi (“IGYA”) in Manisa Province, Turkey
• In February 2020, the company announced the launch of its SNS-TN series of valve-regulated stationary lead-acid batteries
• In July 2020, Blink Charging and Enersys collaborate To Develop High Power Inductive/Wireless and enhanced DC Fast Charging Systems with energy storage options for the automotive market
• In January 2021, EnerSys is teaming up with TravelCenters of America (TA) to offer Odyssey Performance and NorthStar PRO Group 31 batteries for heavy-duty applications in all TA locations throughout the United States
• The Komaki Electric Vehicles, in September 2021, introduced a lead-acid battery scooter, for INR 45,000 (both prices ex-showroom, India).
• In May 2021, Amara Raja Batteries restarted the business of manufacturing lead-acid batteries after receiving closure orders from the andhra Pradesh Pollution Control Board (APPCB).

Regional Market Analysis:

The global Lead Acid Battery market report is segmented based on geography into North America, including the United States, Canada, Mexico, and the Rest of North America; Europe, including Germany, France, United Kingdom (UK), Spain, and the Rest of Europe; Asia Pacific (APAC) including China, India, Japan, South Korea, Australia, Indonesia, and Rest of APAC; South America including Brazil and Rest of South America; and the Middle East and Africa including Saudi Arabia, Nigeria, South Africa, and other countries.

Asia-Pacific is expected to be the leading region in the lead acid battery market during the forecast period, followed by Europe, North America, the Middle East, and South America.

Asia Pacific:

The Asia Pacific region has countries that have both developing and established energy storage systems markets. For instance, countries such as China, India, South Korea, Japan, Australia, and others have an established Lead Acid Battery Market.

The Asia Pacific is expected to be the largest region for Lead Acid batteries during the forecast period. With increasing telecom centres, Data Centres and renewable energy generation Lead acid Batteries demand will rise, especially in China and India, and Southeast Asia, such as Thailand, the Philippines, Indonesia, and Malaysia.

Publisher's Lead Acid Battery Market report provides insights into the current market demand environment and prognosis.

The study offers a thorough examination of the many factors that impact the development of Lead Acid batteries. The study also comprehensively analyses the Lead Acid Battery Market by segmenting it based on region (Asia Pacific, North America, Europe, South America, Middle East, Africa), based on product type (Flooded Battery, Valve Regulated Sealed Battery).

The report also discusses current and future market possibilities, trends, advancements, the Covid 19 impact, the Ukraine and Russian War impact on the Lead Acid Battery Market, essential developments, regions, and segments poised for the fastest growing competitive landscape. Further, the Lead Acid Battery market size, and demand forecast, growth rates will also be provided in the report.


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