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Automotive Lead Acid Battery Market Overview:
The Automotive Lead Acid Battery Market size is estimated to reach $24.3 billion by 2030, growing at a CAGR of 4.2% during the forecast period 2024-2030, according to a recent report published by IndustryARC, titled, “Automotive Lead Acid Batteries Market - By Battery Type(Flooded Lead Acid Battery, Sealed Lead Acid Battery (SLA)/ Value Regulated Lead Acid (VRLA) and Others), By Vehicle Type (Passenger Cars, Light Commercial Vehicles and Heavy Commercial Vehicles and Others), By Sales Channel(Original Equipment Manufacturer and After Market), By Geography - Global Opportunity Analysis & Industry Forecast,2024-2030”
Rising demand for passenger vehicles and commercial vehicles and the ease of recyclability compared to lithium-ion batteries are fueling the growth of the Automotive Lead Acid Battery industry during the forecast period.
APAC Dominated the Market in 2023:
APAC accounted for the largest share of 45% of the Automotive Lead Acid Battery Market in 2023. Increasing passenger vehicles sales across Countries like China, India and Japan and Asia Pacific’s investments in the automotive sector as well as growing EV market are fueling the growth of the Automotive Lead Acid Battery Market in this region. According to India Brand Equity Foundation, the automobile sector received a cumulative equity FDI inflow of about US$ 36.268 billion between April 2000 - March 2024. Such investments drive the significant demand for the automobiles which will eventually drives the automotive lead acid battery market.
Automotive Lead Acid Battery Market: Key Takeaways
Stringent Emission Standards and Regulations
Stricter emission regulations are expected to drive the Automotive Lead Acid Battery market. One of the most effective focuses that can reduce pollutants and improve fuel efficiency is an advanced start-stop system, which shuts off the engine when a vehicle stops, then restarts it automatically once you remove your foot from holding down on either your brake pedal or accelerator. These systems often run on lead-acid batteries while the engine is off for electrical cadets in its place. To make these practices sustainable as well as to fulfil the environmental requirements, automotive sector has developed latest battery recycling infrastructure.
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Rising Demand for Commercial Vehicles
The increasing demand for commercial vehicles is a significant market driver for automotive lead-acid batteries. Commercial vehicles, such as trucks, buses, and vans, often rely on lead-acid batteries for their power requirements. These vehicles rely heavily on lead-acid batteries for starting, powering electrical systems and auxiliary functions. As per the European Automobile Manufacturers Association (ACEA), in the first quarter of 2024, new EU van sales rose by 13.6%, with nearly 400,000 units sold on the back of strong results in key markets. Italy led with a remarkable 19.4% growth, followed by Germany at 13.7%, Spain at 10.9%, and France at 8.7%. Also, according to the National Institute of Geography and Statistics, the sales of commercial light vehicles in Mexico reached 132,929 units in June 2024, an increase of 2.5% compared to the data for May 2024. As the demand for commercial vehicles continues to grow, the need for batteries also grows.
Scope of the Report:
Recent Developments:
- In July 2024, Exide Industries introduced a new advanced Absorbent Glass Mat (AGM) battery for starting, light, and ignition (SLI) applications. Exide noted that SLI-AGM has become a preferred choice for latest-generation vehicles equipped with energy-saving features like regenerative braking, which stores energy within the battery instead of dissipating it.
- In June 2024, GS Yuasa Battery Ltd announced a renewed sales launch for the ECO.R HV auxiliary VRLA battery*1 series for Toyota hybrid vehicles in June 2024.While a nickel metal hydride battery or a lithium-ion battery is installed as the main traction battery, a lead-acid battery is used for the auxiliary battery, which is mainly responsible for the activation of the hybrid system in the vehicle.
- In April 2024, Clarios announced that it secured a supplier contract with a major original equipment manufacturer for its new high performance recharge absorbent glass mat (AGM) battery – a 12-volt battery with increased charge acceptance compared to traditional AGM batteries to help reduce fuel consumption and to help reduce CO2 emissions.
Automotive Lead Acid Battery Market: Competitive Landscape
Key companies profiled in the Automotive Lead Acid Battery market are GS Yuasa Energy Co., Ltd, Clarios LLC, Exide Technologies, EnerSys, Power Sonic Corporation, Amar Raja Batteries Ltd, Leoch International Technology Ltd, East Penn Manufacturing Company, Furukawa Battery Co., Ltd, JYC Battery Manufacturer Co., Ltd and others.
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