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Automotive Lead-Acid Battery market research report explores size, share, trends and forecast to 2024

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The global automotive lead-acid battery market is expected to reach a value of US$ 15 Billion by 2024, exhibiting a CAGR of around 3% during 2019-2024.

Lead-acid batteries are one of the most reliable technology for automotive SLI (starting, lighting and ignition) applications due to their low cost, robust and abuse-tolerant nature. They are used for storing electrical energy and are composed of a sponge metallic lead anode, lead-dioxide cathode and a sulfuric solution of acid and water.

Other than automobiles, these batteries are also used as rechargeable electrochemical devices for various small-to-medium scale storage applications.Lead-acid batteries are one of the most reliable technology for automotive SLI (starting, lighting and ignition) applications due to their low cost, robust and abuse-tolerant nature. They are used for storing electrical energy and are composed of a sponge metallic lead anode, lead-dioxide cathode and a sulfuric solution of acid and water.

Other than automobiles, these batteries are also used as rechargeable electrochemical devices for various small-to-medium scale storage applications.

Lead-acid batteries were invented in the late 1850s by a French physicist, named Gaston Planté. This was the first battery which used a single electrolyte for both electrodes.

The design enabled the battery to be recharged by reversing the chemical reaction. In the 1920s, they became an essential component in the automotive industry, with the emerging requirement for a reliable power supply within the vehicle architecture.

A significant shift towards vehicle owner convenience occurred in the early 1970s when Delco-Remy Freedom Battery introduced the first maintenance-free lead-acid battery for automobiles. Since then, several advancements have been made to improve the compatibility of these batteries for modern vehicles.

According to IMARC Group, the global automotive lead-acid battery market Make an Inquiry about this news size reached US$ 12.5 Billion in 2018.

Global Automotive Lead-Acid Battery Market Trends

Over the past few years, market players have been introducing new technologies, such as Bipolar Plate that offers a significantly more compact design, to enhance the overall performance of automotive lead-acid batteries. The lead content in these batteries is less than approximately 50%, with a reduced volume of almost 40%.

Further, the increasing production of lead-acid batteries in the automotive industry can also be attributed to the growing market for 48V vehicle power systems, hybrid vehicles and low-speed electric vehicles. This growth has, however, led to increased competition from alternative energy storage devices.

Low replacement and maintenance costs, and rapid adoption of various innovative automotive technologies, such as start-stop function, are some of the other factors that are currently driving the market growth. On account of the aforementioned drivers, the market is expected to reach a value of US$ 15 Billion by 2024, exhibiting a CAGR of around 3% during 2019-2024.

Market Segmentation

• Based on the vehicle type, the market has been segmented into passenger cars, commercial vehicles, two-wheelers and HEV cars. Amongst these, passenger cars represent the most popular type of vehicle, with rapidly exceeding sales across the globe.

• The automotive lead-acid battery market has been bifurcated on the basis of the product, which includes SLI and micro hybrid batteries. Currently, SLI battery represents the largest segment.

• The report has analyzed the market according to the type which mainly includes flooded batteries, enhanced flooded batteries and VRLA batteries. At present, flooded batteries are used most commonly as they offer the longest life and incur the least cost per amp-hour.

• On the basis of the customer segment, the market has been categorized as OEM and replacement. Wherein the OEM customer segment exhibits dominance in the market.

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Regional Analysis and Competitive Landscape

On the geographical front, Asia Pacific represents the biggest market for automotive lead-acid batteries, holding the majority of the total market share. This can be accredited to the growing demand for passenger vehicles and electric-powered vehicles in countries, like Japan, South Korea and China.

Other major regions include North America, Europe, Middle East and Africa, and Latin America.On the geographical front, Asia Pacific represents the biggest market for automotive lead-acid batteries, holding the majority of the total market share. This can be accredited to the growing demand for passenger vehicles and electric-powered vehicles in countries, like Japan, South Korea and China.

Other major regions include North America, Europe, Middle East and Africa, and Latin America.

The competitive landscape of the market has also been examined with some of the key players being Johnson Controls Inc., Exide Technologies Inc., GS Yuasa Corporation, Reem Batteries & Power Appliances Co. Saoc, Enersys Inc., Saft Groupe S.A., Northstar Battery Company LLC., C&D Technologies, Inc., Robert Bosch GmbH, East Penn Manufacturing Company, Panasonic Corporation, Trojan Battery Company, Samsung Sdi Company Limited, Leoch International Technology Ltd, Exide Industries Ltd., Koyo Battery Co., Ltd., Tai Mao Battery Co., Ltd., PT Century Batteries Indonesia, Thai Bellco Battery Co.,Ltd.

and CSB Battery Co., Ltd. (Hitachi Chemical Energy Technology Co. Ltd.).The competitive landscape of the market has also been examined with some of the key players being Johnson Controls Inc., Exide Technologies Inc., GS Yuasa Corporation, Reem Batteries & Power Appliances Co.

Saoc, Enersys Inc., Saft Groupe S.A., Northstar Battery Company LLC., C&D Technologies, Inc., Robert Bosch GmbH, East Penn Manufacturing Company, Panasonic Corporation, Trojan Battery Company, Samsung Sdi Company Limited, Leoch International Technology Ltd, Exide Industries Ltd., Koyo Battery Co., Ltd., Tai Mao Battery Co., Ltd., PT Century Batteries Indonesia, Thai Bellco Battery Co.,Ltd. and CSB Battery Co., Ltd. (Hitachi Chemical Energy Technology Co.

Ltd.).

 

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