Automotive Lead Acid Battery Market to expand at a steady CAGR of over 3% through the course of 2021-2031

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The global automotive lead acid battery sales is projected to increasing, enabling the market’s valuation to reach US$ 36.2 Bn in 2031, according to the latest research by Future Market Insights (FMI). The report estimates the market to expand at a steady CAGR of over 3% through the course of 2021-2031.

Flooded batteries, followed by enhanced flooded batteries are most sought-after lead acid batteries. Flooded batteries are expected to account for over half of sales registered in the market. The use of lead batteries for starting, lighting and ignition (SLI) application is increasing around the world. Easy availability of lead acid batteries and their economical pricing as compared to other battery types will continue enabling growth in the market over the coming decade.

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Despite advent of various advanced technologies, which threaten replacement, lead acid batteries sales will continue surging at a moderate pace. The rising production of passenger and commercial vehicles will continue supporting growth through the course of the forecast period.

Also, the advent of new technologies are aiding overall expansion. Some of the leading manufacturers are focusing on a wide range of automotive lead acid resistance, decreasing heat generation, modification of electrode plates, and improving charge acceptability.

These efforts are expected to improve performance of lead acid batteries, in turn creating lucrative opportunities for increasing sales.

Key Takeaways from Market Study

  • After a period of negative growth, sales will improve 2021 onwards, enabling the market register 2.8% y-o-y growth in 2021
  • The U.S. will account for over 86% of sales registered in North America. It is expected to remain the dominant market through the course of the forecast period
  • Increasing passenger vehicle production will enable sales in the U.K. to increase by 1.7% in U.K. in 2021
  • Germany and France will emerge as other key markets within Europe
  • Expansion of the automotive sector will support growth in China, followed by Japan and South Korea

Market players are threatened by the availability of high-performing alternatives. The increasing demand for lithium-ion batteries and other alternatives has been compelling them to invest in research and development activities. This will enable the market to stay strong, registering steady growth through the course of the forecast period,” said a lead analyst at FMI.

Competitive Landscape

The global automotive lead acid batteries market is highly competitive at regional as well as global level, and highly consolidated in nature. Some of the key players included in the report are Clarios, GS Yuasa Corporation, Panasonic Corporation, Leoch International Technology Limited, Exide Industries Ltd., EnerSys Inc., and others. Top companies operating in the market are occupying hefty shares in terms of revenue. With compliance to governmental standards and regulations, these companies have a global brand presence. Prime manufacturers are also updating their technologies to improve their market share.

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Market Segmentation by Category

By Battery Type

  • Flooded
  • Enhanced Flooded
  • AGM

By Technology

  • ICE
  • Hybrid
  • Electric

By Vehicle Type

  • Passenger Car
  • LCV

By Sales Channel

  • OEM
  • Aftermarket

By Region

  • North America
  • Latin America
  • Europe
  • South Asia
  • East Asia
  • Middle East & Africa

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Scope of Report

Attribute Details
Forecast Period 2021-2031
Historical Data Available for 2016-2020
Market Analysis USD Million for Value and  Tons for Volume
Key Regions Covered North America, Latin America, Europe, South Asia & Pacific, East Asia, and the Middle East & Africa,
Key Countries Covered US, Canada, Germany, U.K., France, Italy, Spain, Russia, BENELUX, China, Japan, South Korea, India, Thailand, Malaysia, Vietnam, Indonesia, Australia, New Zealand, Turkey, Iran, and South Africa
Key Segments Covered Battery Type, Technology, Vehicle, Sales Channel, Region
Key Companies Profiled
  • Clarios
  • GS Yuasa Corporation
  • Panasonic Corporation
  • Leoch International Technology Limited
  • Exide Industries Ltd.
  • EnerSys Inc.
  • East Penn Manufacturing Company
  • Exide Technologies Inc.
  • CSB Battery Company Limited
Report Coverage Market Forecasts, Brand Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives
Customization & Pricing Available upon Request

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About FMI

Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, the global financial capital, and has delivery centers in the U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.

Contact

Future Market Insights
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Jumeirah Lakes Towers, Dubai,
United Arab Emirates
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For Sales Enquiries: [email protected]
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Website: https://www.futuremarketinsights.com
Report: https://www.futuremarketinsights.com/reports/automotive-lead-acid-battery-market
Press Release Source: https://www.futuremarketinsights.com/press-release/automotive-lead-acid-battery-market


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