Lead–acid battery market is projected to reach $70.7 billion by 2023. Increasing demand for electric vehicles and automobiles coupled with urbanization and industrialization in emerging economies are likely to create demand for applications of lead–acid batteries and thus expected to propel the market growth during the forecast period.
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the lead–acid battery market is categorized into flooded and valve regulated lead–acid (VRLA). Traditionally, flooded lead-acid battery held the larger share in the market, contributing more than 51.0% in terms of volume. This is in coherence with its cost-effectiveness for entry level start-stop vehicles over its counterpart.
the lead–acid battery market is classified into automobile, utilities, construction, telecommunication, marine, leisure, uninterrupted power supply (UPS), and others. The others category comprises military and mining applications. Automotive was the largest application area in the market, contributing more than 65.0% share in terms of volume in 2017. This is ascribed to significant battery life; low cost; and high performance, a trait characteristic of lead-acid battery.
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Globally, the lead–acid battery market is expected to witness the fastest growth in APAC, in terms of volume, with 4.2% CAGR during the forecast period. This growth can be majorly attributed to growing demand of lead–acid batteries for applications in automotive sector and telecommunication networks. Furthermore, in addition to the aforementioned factor, increasing use of UPS in industrial sectors such as oil and gas, manufacturing, chemical, and healthcare are likely to open up new growth opportunities for the lead–acid battery market in the region.
Some of the major players operating in the global lead–acid battery market include Johnson Controls International plc, GS Yuasa Corporation, Exide Technologies, EnergySys Limited, Fujian Quanzhou Dahua Battery Co. Ltd., B.B. Battery Co. Ltd., Yokohama Industries Berhad, Hitachi Chemical Energy Technology Co. Ltd., C&D Technologies Inc., ATLASBX Co. Ltd., AC Delco Corporation, First National Battery Corporation, and Amara Raja Corporation.