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Lead Acid Battery for Energy Storage Market Report and Forecast 2024-2032

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    Report

  • 210 Pages
  • December 2023
  • Region: Global
  • Expert Market Research
  • ID: 5921399
According to the report, the global lead acid battery for energy storage market is projected to grow at a CAGR of 4.5% between 2024 and 2032 reaching a value of approximate USD 58.88 billion by 2032. Aided by the mounting need for sustainable energy storage solutions and the extensive use of these batteries in a myriad of applications, the market is expected to grow significantly by 2032.

Lead acid batteries, frequently recognised as the pioneers of rechargeable solutions, have been an enduring companion in the energy storage sector for more than a century. They are fundamentally composed of lead dioxide, lead, and an electrolyte containing a diluted sulfuric acid solution. Among their numerous attributes, they're predominantly celebrated for their reliability, recyclability, and cost-effectiveness. These batteries primarily find applications in areas like automotive starters, uninterruptible power supplies (UPS), and renewable energy systems.

One of the primary propellants of the global lead acid battery market growth is the accelerating transition towards renewable energy. As countries worldwide strive to mitigate the carbon footprint and embrace sustainable energy forms like solar and wind, the requirement for efficient and dependable storage solutions has augmented considerably. Lead acid batteries, given their extensive lifespan and unparalleled reliability, have naturally emerged as the top contenders in this transition.

Additionally, the expanding automotive sector is playing a pivotal role in boosting the lead acid battery market demand. The batteries' unparalleled capability to deliver high current surges, essential for engine starters in automobiles, has cemented their position as the preferred choice. With global car sales on an upward trajectory and the increasing production of vehicles in emerging markets, the lead acid battery industry is experiencing considerable tailwinds.

Moreover, the world is currently observing a robust demand for uninterruptible power supplies (UPS), primarily driven by the growing dependence on electronic devices and the necessity to safeguard sensitive equipment from power disruptions. Here again, lead acid batteries, with their durable nature and capability to deliver high surge currents, stand out as the preferred energy storage solution.

The drive towards a circular economy has also highlighted the recyclability aspect of lead acid batteries. In a world progressively leaning towards sustainability, the fact that over 90% of the lead used in these batteries is recyclable positions the product in an even more favourable light. This not only aids in waste reduction but also ensures a consistent supply of raw materials, impacting the lead acid battery market outlook.

Market Segmentation

The market can be divided based on type, application, and region.

Market Breakup by Type

  • Utility Owned
  • Custom Owned
  • Third Party Owned

Market Breakup by Application

  • Micro grid
  • Household
  • Industrial
  • Military

Market Breakup by Region

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa

Competitive Landscape

The report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global lead acid battery for energy storage market. Some of the major players explored in the report are as follows:
  • Enersys
  • Exide Industries Limited
  • East Penn Manufacturing Company
  • Narada Asia Pacific Pte. Ltd.
  • Amara Raja Batteries Ltd.
  • Leoch International Technology Limited
  • GS Yuasa International Ltd.
  • FIAMM Energy Technology S.p.A.
  • Others

Table of Contents

1 Preface2 Report Coverage - Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Region
7 Opportunities and Challenges in the Market
8 Global Lead Acid Battery for Energy Storage Market Analysis
8.1 Key Industry Highlights
8.2 Global Lead Acid Battery for Energy Storage Historical Market (2018-2023)
8.3 Global Lead Acid Battery for Energy Storage Market Forecast (2024-2032)
8.4 Global Lead Acid Battery for Energy Storage Market by Type
8.4.1 Utility Owned
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2018-2023)
8.4.1.3 Forecast Trend (2024-2032)
8.4.2 Custom Owned
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2018-2023)
8.4.2.3 Forecast Trend (2024-2032)
8.4.3 Third Party Owned
8.4.3.1 Market Share
8.4.3.2 Historical Trend (2018-2023)
8.4.3.3 Forecast Trend (2024-2032)
8.5 Global Lead Acid Battery for Energy Storage Market by Application
8.5.1 Micro grid
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2018-2023)
8.5.1.3 Forecast Trend (2024-2032)
8.5.2 Household
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2018-2023)
8.5.2.3 Forecast Trend (2024-2032)
8.5.3 Industrial
8.5.3.1 Market Share
8.5.3.2 Historical Trend (2018-2023)
8.5.3.3 Forecast Trend (2024-2032)
8.5.4 Military
8.5.4.1 Market Share
8.5.4.2 Historical Trend (2018-2023)
8.5.4.3 Forecast Trend (2024-2032)
8.6 Global Lead Acid Battery for Energy Storage Market by Region
8.6.1 North America
8.6.1.1 Market Share
8.6.1.2 Historical Trend (2018-2023)
8.6.1.3 Forecast Trend (2024-2032)
8.6.2 Europe
8.6.2.1 Market Share
8.6.2.2 Historical Trend (2018-2023)
8.6.2.3 Forecast Trend (2024-2032)
8.6.3 Asia Pacific
8.6.3.1 Market Share
8.6.3.2 Historical Trend (2018-2023)
8.6.3.3 Forecast Trend (2024-2032)
8.6.4 Latin America
8.6.4.1 Market Share
8.6.4.2 Historical Trend (2018-2023)
8.6.4.3 Forecast Trend (2024-2032)
8.6.5 Middle East and Africa
8.6.5.1 Market Share
8.6.5.2 Historical Trend (2018-2023)
8.6.5.3 Forecast Trend (2024-2032)
9 North America Lead Acid Battery for Energy Storage Market Analysis
9.1 United States of America
9.1.1 Market Share
9.1.2 Historical Trend (2018-2023)
9.1.3 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Market Share
9.2.2 Historical Trend (2018-2023)
9.2.3 Forecast Trend (2024-2032)
10 Europe Lead Acid Battery for Energy Storage Market Analysis
10.1 United Kingdom
10.1.1 Market Share
10.1.2 Historical Trend (2018-2023)
10.1.3 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Market Share
10.2.2 Historical Trend (2018-2023)
10.2.3 Forecast Trend (2024-2032)
10.3 France
10.3.1 Market Share
10.3.2 Historical Trend (2018-2023)
10.3.3 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Market Share
10.4.2 Historical Trend (2018-2023)
10.4.3 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Lead Acid Battery for Energy Storage Market Analysis
11.1 China
11.1.1 Market Share
11.1.2 Historical Trend (2018-2023)
11.1.3 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Market Share
11.2.2 Historical Trend (2018-2023)
11.2.3 Forecast Trend (2024-2032)
11.3 India
11.3.1 Market Share
11.3.2 Historical Trend (2018-2023)
11.3.3 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Market Share
11.4.2 Historical Trend (2018-2023)
11.4.3 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Market Share
11.5.2 Historical Trend (2018-2023)
11.5.3 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Lead Acid Battery for Energy Storage Market Analysis
12.1 Brazil
12.1.1 Market Share
12.1.2 Historical Trend (2018-2023)
12.1.3 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Market Share
12.2.2 Historical Trend (2018-2023)
12.2.3 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Market Share
12.3.2 Historical Trend (2018-2023)
12.3.3 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Lead Acid Battery for Energy Storage Market Analysis
13.1 Saudi Arabia
13.1.1 Market Share
13.1.2 Historical Trend (2018-2023)
13.1.3 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Market Share
13.2.2 Historical Trend (2018-2023)
13.2.3 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Market Share
13.3.2 Historical Trend (2018-2023)
13.3.3 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Market Share
13.4.2 Historical Trend (2018-2023)
13.4.3 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter's Five Forces Analysis
14.2.1 Supplier's Power
14.2.2 Buyer's Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 Enersys
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 Exide Industries Limited
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 East Penn Manufacturing Company
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 Narada Asia Pacific Pte. Ltd.
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 Amara Raja Batteries Ltd.
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 Leoch International Technology Limited
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 GS Yuasa International Ltd.
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 FIAMM Energy Technology S.p.A.
15.2.8.1 Company Overview
15.2.8.2 Product Portfolio
15.2.8.3 Demographic Reach and Achievements
15.2.8.4 Certifications
15.2.9 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Lead Acid Battery for Energy Storage Market: Key Industry Highlights, 2018 and 2032
2. Global Lead Acid Battery for Energy Storage Historical Market: Breakup by Type (USD Million), 2018-2023
3. Global Lead Acid Battery for Energy Storage Market Forecast: Breakup by Type (USD Million), 2024-2032
4. Global Lead Acid Battery for Energy Storage Historical Market: Breakup by Application (USD Million), 2018-2023
5. Global Lead Acid Battery for Energy Storage Market Forecast: Breakup by Application (USD Million), 2024-2032
6. Global Lead Acid Battery for Energy Storage Historical Market: Breakup by Region (USD Million), 2018-2023
7. Global Lead Acid Battery for Energy Storage Market Forecast: Breakup by Region (USD Million), 2024-2032
8. North America Lead Acid Battery for Energy Storage Historical Market: Breakup by Country (USD Million), 2018-2023
9. North America Lead Acid Battery for Energy Storage Market Forecast: Breakup by Country (USD Million), 2024-2032
10. Europe Lead Acid Battery for Energy Storage Historical Market: Breakup by Country (USD Million), 2018-2023
11. Europe Lead Acid Battery for Energy Storage Market Forecast: Breakup by Country (USD Million), 2024-2032
12. Asia Pacific Lead Acid Battery for Energy Storage Historical Market: Breakup by Country (USD Million), 2018-2023
13. Asia Pacific Lead Acid Battery for Energy Storage Market Forecast: Breakup by Country (USD Million), 2024-2032
14. Latin America Lead Acid Battery for Energy Storage Historical Market: Breakup by Country (USD Million), 2018-2023
15. Latin America Lead Acid Battery for Energy Storage Market Forecast: Breakup by Country (USD Million), 2024-2032
16. Middle East and Africa Lead Acid Battery for Energy Storage Historical Market: Breakup by Country (USD Million), 2018-2023
17. Middle East and Africa Lead Acid Battery for Energy Storage Market Forecast: Breakup by Country (USD Million), 2024-2032
18. Global Lead Acid Battery for Energy Storage Market Structure.

Companies Mentioned

  • Enersys
  • Exide Industries Limited
  • East Penn Manufacturing Company
  • Narada Asia Pacific Pte. Ltd.
  • Amara Raja Batteries Ltd.
  • Leoch International Technology Limited
  • GS Yuasa International Ltd.
  • FIAMM Energy Technology S.p.A.

Methodology

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