The market for lead acid batteries is expected to be USD 54.4 billion by 2021. It will then rise at a 5.3% CAGR from 2021 to 2031. According to the study, the USD 90.6 billion lead acid battery market value will reach by 2031.
An anode, cathode, and electrolyte make up a lead cell. The anode is the terminal with the lowest voltage, while the cathode is the terminal with the highest voltage. The electrolyte connects the two terminals to trigger an electrochemical reaction that produces electricity. A lead-acid battery is a battery made up of a sponge metal lead anode and lead-dioxide carbide cathode. This is the first commercial battery. It can be recycled, but it contains toxic lead.
Globally, the lead-acid industry is expanding rapidly and is expected to grow at a 5.2% CAGR over the forecast period. The growth of SLI applications in automotive, the increase in renewable energy production, and the high demand for energy storage devices are some factors that have fuelled the rise in demand for lead-acid batteries. The growth of telecom industries in countries like the U.S. and Brazil is driving the demand for UPS systems to provide power backup. This has led to higher adoption of lead-acid battery technology as cost-competitive energy. The market growth is slowed by the popularity and increasing acceptance of lithium-ion battery technology.
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Lead acid batteries Market: Drivers
Driver: Rapid technological advances and expansion in the telecom industry
The telecom industry is one of the most successful industries. The industry will experience a boom in the years ahead. As a new generation of connectivity is developed, the competitive wireless telecom industry will face new challenges. The telecommunications sector is one of few that has seen rapid technological advancement and improvements even in times of recession. This sector is a major force in innovation, growth, and disruption across many sectors. To capitalize on the increasing opportunity to generate more revenue streams, the major telecom companies in the sector continue to invest in expansion and development of processes and operations. According to industry experts, the key reason for the rapid growth in wireless telecom is multiple technological innovations. The fiscal year 2017 was valued at more than USD270 billion. The wireless telecom industry will continue to be the main support source for the entire technology sector, thanks to numerous technological advances and increased interconnectivity.
Surge Holdings, Inc., QUALCOMM, Juniper Networks Inc., and Verizon Communications Inc. are some of the active technological companies in this market. Surge Holdings, Inc., a Las Vegas-based telecom and Fintech software company, recently announced its strategy for expanding the market to more than 20 million US military veterans, active service members, and their immediate families. Similar to the Reliance Jio annual meeting, Microsoft partnered with the company to create several data centers in India. The data centers will eventually need a central power backup facility. Even the basic lead-acid batteries used in the UPS are sufficient. This is why the battery’s use will increase with increasing numbers of data centers.
Lead acid batteries Market: Restraints
Restrict: Low-cost options in energy storage space
Lead acid batteries were the most cost-effective technology until recently. However, lead-acid batteries are losing their cost-effectiveness with the advent of lithium-ion technology and other battery storage technologies. Nearly all industries are seeing a drop in the price of lead-acid batteries. Nickel-Metal Hydroxide (NiMH), mature and proven technology for hybrid applications, is also in decline. Original Equipment Manufacturers (OEMs) such as Toyota, Honda, Lexus, and Lexus use it. OEMs prefer these batteries for their safety, performance, and longer lifecycle in hybrid applications. Nickel-cadmium and NiMH batteries are also cost-effective options for battery storage users. They are more cost-effective and efficient than lead-acid batteries.
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Lead acid batteries Market Key Trends:
SLI Battery Application to Rule the Market
Since the beginning of time, SLI (starting, lighting, ignition) batteries have been part of almost all cars. SLI batteries can provide short power bursts for starting an engine or running light electrical loads. These batteries provide extra power for vehicles with an electrical load greater than the charging system’s (alternator). They also act as voltage stabilizers in the electrical systems, which helps to prevent voltage spikes from damaging other parts of the system.
SLI batteries were designed for automobiles. They are installed with the vehicle’s charging system. This means that the battery is always charged and discharged when the vehicle is in use. For over 50 years, 12-volt batteries have been the most popular. Its normal voltage, which is used in the car and recharged by the alternator, is close to 14.
One of the main factors driving the SLI market’s growth is the growing demand for these batteries to drive starter motors, lights and ignition systems, or other internal combustion engines with high performance, long life, and low cost. Lead-acid batteries are the preferred technology for SLI battery applications in India’s traditional combustion engine vehicles, such as cars and trucks.
India has seen a tremendous increase in per capita income over the last few years. This led to an increase in disposable income. This has led to a sharp rise in sales of automobiles, especially of the four- and two-wheeler types. This increased demand for SLI batteries. According to the Society of Indian Automobile Manufacturers, 18.61 million vehicles were sold in India in 2020. This is 13.60% less than the 21.54 million sold the year before. This was partly due to the COVID-19 pandemic that caused the temporary closure of manufacturing facilities and a decline in SLI battery demand.
According to the Federation of Automobile Dealers Associations (FADA), personal vehicle sales in November 2020 were 2,91,001 units, compared to 2,79.365 units in November 2019. This represents a 4.17% increase, and total automotive exports reached 4.77 million vehicles in FY 2020. India saw a 20% increase in EV sales and reached 1.56 million units in FY2020. With the recovery of the economy and increased demand for automobiles, SLI batteries will likely see an increase in demand during the forecast period.
Based on these factors, SLI battery applications are expected to dominate India’s lead-acid market over the forecast period.
Recent development:
Recycles Group Ltd. is a technology-owned mineral business that opened in a new Tipton manufacturing plant in January 2022. It was used for the production of lead acid batteries.
GS Yuasa Corporation reported in December 2021 the equity-method company Tata Auto Comp GY Batteries Limited subsidiary GS Yuasa International Ltd., a subsidiary, intends to boost its yearly production. capability for motorcycle-le acid batteries from 8.4 million to 8.4million units. The goal is to increase India’s market share.
Scope of the Report
| Attribute | Details |
| Market Size in 2021 | USD 54.4 Billion |
| Growth Rate | CAGR of 5.3% |
| Historical Years | 2016-2020 |
| Base Year | 2021 |
| Quantitative Units | USD In Bn |
| No. of Pages in Report | 200+ Pages |
| No. of Tables & Figures | 150+ |
| Format | PDF/Excel |
| Direct Order This Report | Available- To Purchase This Premium Report Click Here |
Key Market Players:
- Johnson Controls
- Exide
- CSB Battery
- GS Yuasa Corporate
- Enersys
- EAST PENN Manufacturing
- FIAMM
- Sebang
- Atlasbx
- Amara Raja
- C&D Technologies
- Trojan
- NorthStar Battery
- Midac Power
- ACDelco
- Banner batteries
- First National Battery
- Chaowei Power
- Tianneng Power
- Shoto
Type
- VRLA Battery
- Flooded Battery
Application
- Automotive Starter
- Motorcycles and Electric Bikes
- Forklifts and Vehicles
- UPS
Industry, By Region
- Asia-Pacific [China, Southeast Asia, India, Japan, Korea, Western Asia]
- Europe [Germany, UK, France, Italy, Russia, Spain, Netherlands, Turkey, Switzerland]
- North America [United States, Canada, Mexico]
- Middle East & Africa [GCC, North Africa, South Africa]
- South America [Brazil, Argentina, Columbia, Chile, Peru]
Key questions:
· What are the top trends in the lead-acid battery market?
· Which are the major players in the market?
· What are the different types of lead-acid batteries?
· What is the regional analysis for the lead acid battery market in the United States?
· How big is the potential growth of the lead-acid battery market?
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