Lead-acid batteries are constructed from one of the oldest and most stable electrochemical metal compositions. It has been around for over a century. Lead-acid batteries are the most cost-effective chemistry when compared to newer electrochemistry such as nickel-metal hydride (NMH) and lithium-ion batteries, which are still in the early stages of development and commercialization.
Lead-acid batteries are available in a variety of sizes and shapes. Flooded batteries are classified into several types, including enhanced flooded batteries (EFB). Gel and absorbent glass mat (AGM) batteries are also available, as are valve-regulated lead-acid (VRLA) batteries, also known as sealed batteries. Lead-acid batteries are classified as starter, lighting, ignition (SLI), motor, or stationary batteries based on their intended use.
The energy-to-weight and energy-to-volume ratios of lead-acid batteries are significantly lower than those of lithium-ion and other electrochemical batteries. Lead-acid batteries, on the other hand, may provide proportionately large surge currents, indicating that the cells have a high power-to-weight ratio. Because of the aforementioned characteristics, lead-acid batteries are suitable for a wide range of applications, including automobiles, motorcycles, transit vehicles, electric bicycles, and other end-user applications. Lead-acid batteries are ideal for mass-market applications due to their low cost.
Other rapidly expanding automotive applications, such as the increasing use of industrial lead-acid batteries for forklifts, stackers, floor cleaners, telephones, and uninterrupted power supply, have made them the preferred choice (UPS). Lead-acid batteries are also finding new applications in commercial and residential energy storage, as well as electric vehicles and e-bikes.
The increased use of renewable energy and grid-scale battery storage is expected to result in a significant increase in the use of lead-acid batteries in the energy industry. Many people, primarily in poor countries' rural areas, have limited or no access to electricity. This has resulted in increased microgrid use, as well as lower equipment prices for renewable energy producers (wind turbines, solar panels, and micro/mini-hydro turbines). Many of them require the use of batteries, with lead-acid being the least expensive. Aging grids in developed countries will encourage utility companies to deploy large-scale grid-scale batteries to stabilize their networks and provide other ancillary services. This scenario will play out due to the increasing use of intermittent renewable energy on these aging national infrastructures.
The lead-acid market may have some growth constraints. Among these possibilities are increased environmental awareness of the pollution caused by lead mining, as well as the prospect of governments establishing stricter recycling rules for the disposal of old batteries. Furthermore, competition is increasing from other electrochemistry such as lithium-ion, which is gaining popularity in fields such as energy storage and electric automobiles.
The low cost of lead-acid batteries in comparison to other electrochemistry, a growing number of end-user applications, and ongoing technical improvements are expected to drive the market throughout the forecast period. Increased automobile and motorcycle sales, as well as renewable energy installations and UPS demand, are all factors. As more telecommunications infrastructure is deployed, the telecom sector is expected to boost sales of VRLA-type lead-acid batteries.
For a variety of reasons, the global lead-acid battery market will expand. Rising demand in the transportation sector as vehicle sales increase and electric vehicles gain popularity; UPS systems and inverters in a variety of applications; advancements in manufacturing processes, such as rising automation, which will result in more equipment requiring led batteries; and demand in industrial sectors such as oil and gas (O&G), manufacturing, chemical, and healthcare. New applications, such as those in the renewable energy industry, are increasing demand for stationary lead-acid batteries in large-scale storage, off-grid renewable energy storage, and residential storage, all of which will drive market growth.
The global lead acid battery market is to increase from US$ 48.2 billion in 2020 to US$ 62.0 billion by 2025 with a compound annual growth rate (CAGR) of 5.2% for the period 2020-2025. Some of the prominent players in the lead acid battery market are Advanced Stored Energy Solutions, Chaowei Power Holdings Limited, Clarios Llc , Crown Battery Manufacturing Company, Exide Industries Ltd , Exide Technologies, Gs Yuasa Corporation., Hbl Nife Power Systems Limited, Narada Power Source Co., Ltd., Panasonic Corporation. The research report on the global lead acid battery market provides extensive competition analysis and competitive conditions. The report includes information on significant products, players, challenges and developments, and other information specific to the lead acid battery market. The global economy is highly affected by the COVID-19. Various sectors in the economy are much affected by this pandemic. It is anticipated that the global economy will decline because of the loss of trillions of dollars. The growing extension and imposition of lockdown in various countries directly affect the economy all over the world. The report consists of a chapter that provides a detailed study of the impact of COVID-19 on the lead acid battery market. The data in this report is targeted for business and industry practitioners and specifically intended to assist in the explanation, direction, and to understand the potential of the lead acid battery markets. The study focuses on providing readers with an understanding of developments in the industry, market segments, market forecasts, leading players, and market drivers and inhibitors.
- Goals and objectives of the study
- Understanding the opportunities and advancements of lead acid battery is determining the market highlights, along with the foremost regions and countries involved in the growth of the market.
- To study the diverse segments of the lead acid battery market and the dynamics of lead acid battery in the market.
- To categorize segments of lead acid battery with escalating growing potential and to value the futuristic market of the segments.
- To analyze the major trends related to different segments that help in figuring and persuading the lead acid battery market.
- To check region-specific growth and development in the lead acid battery market.
- To understand the foremost stakeholders of the lead acid battery market and the value of the competitive landscape of the leaders of the lead acid battery market.
- To study the key plans, initiatives, and strategies for the development of the lead acid battery market.
Chapter 2, Market Overview provides an overview of the lead acid battery market. The chapter includes macro-economic factors, market determinants (includes market drivers, restraints, opportunities, and challenges), value chain analysis, technology/product roadmap, Porter 5 force model analysis, market growth opportunity analysis.
Chapter 3, Segment Analysis of the study deals with the different sub-segments of the market to calculate reliable market forecasts. The chapter provides an in-depth analysis of the market segments of the lead acid battery market, year-on-year growth projections that enable readers to identify potential market growth areas.
- Market Segmentation
- Based on technology, the global lead acid battery market is segmenting into advanced lead acid battery, basic lead acid battery.
- Based on industrial, the lead acid battery market is segmenting into data centers, oil & gas, telecom, others.
Chapter 4, Regional Analysis includes an in-depth analysis of the lead acid battery market by regions such as North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America. The report also includes a comprehensive analysis of the market in key countries such as the United States, Canada, Germany, France, Italy, Spain, China, India, Japan, the GCC, South Africa, Brazil, Mexico, and the rest of the world. Regional insight helps market competitors to make crucial decisions about their company. Individualized, country-wise, and segment-wise analyses by region allow readers of the lead acid battery market report to explore the potential of the market in different geographies. For each year's growth projections and a global share of value, this section is a vital part of the report.
Chapter 5, Competitive Analysis of the report includes company shares analysis, a list of acquisitions, mergers, collaboration, and the introduction of new products.
Chapter 6, Company Profile of the report also covers key industry players working on the lead acid battery market. The report also discusses the business strategies adopted by the players at the global, regional, and country-level. The study also focuses on various businesses or inorganic business development strategies for expanding consumer networks through product formation, organization extension, partnerships, mergers, and acquisitions.
The study offers an exhaustive summary and estimate of the global lead acid battery market. It includes in-depth qualitative and quantitative analyses in the report that aligned with the goals and objectives of our customers. Projections have been confirmed by comprehensive primary and secondary analysis. The study will encourage clients to invest in the lead acid battery market based on the current business situation, trends, and potential developments in the segments. Understanding the requirement of the client, the report delivers specialist insights into the global lead acid battery market, its products, and market patterns.
