Lead Acid Battery Market

2020 Analysis and Review: Lead Acid Battery Market by Product – Flooded, AGM, Gel for 2020-2030

  • 2020-07-01
  • REP-GB-54
  • 47 Tables
  • 125 Figures
  • 300 pages
  • Format: PDF/PPT/Excel

An Incisive, In-depth Analysis on the Lead Acid Battery Market

This study offers a comprehensive, 360 degree analysis on the Lead Acid Battery market, bringing to fore insights that can help stakeholders identify the opportunities as well as challenges. It tracks the global Lead Acid Battery market across key regions, and offers in-depth commentary and accurate quantitative insights. The study also includes incisive competitive landscape analysis, and provides key recommendations to market players on winning imperatives and successful strategies.

Lead Acid Battery Market Outlook & Key Findings

  • The  lead acid battery market is expected to grow at a CAGR of 5.4% through the forecast period (2020-2030)
  • Focus of regulatory agencies for enhancing EV penetration will enable demand for lead acid batteries through 2030 with a bullish growth trend
  • Furthermore, Lead acid batteries are prime candidates for energy storage solutions using renewable energy on back of 99% recyclability and low production costs
  • The top 3 countries accounted for 43% of the overall market in 2019
  • Lead acid batteries will be integral to 5G telecom infrastructure in countries such as Vietnam, China, Africa and India

Lead Acid Battery Market Analysis

Slated to surpass a value pool of US$111.6Bn by the end of the year 2030, the lead acid battery market is rapidly gaining traction. With a high sustainability index, lead acid batteries require 3 times less energy per kWh to produce which makes them technologically superior to li-ion batteries that are more energy dense.

Lead acid batteries are also slated to score big in paving the way for the electric vehicle revolution with a large chunk of these vehicles equipped with lead acid batteries. They will be extensively used in all ignition, lighting and safety functions on EVs. The start-stop technology which uses lead acid batteries is said to remove 4.5 million tons of GHG emissions in the US each year.

Aggressive growth of OEMs in the aftermarket is further set to boost market prospects. Frequent replacement of battery units, low costs and established distribution channels are some of the primal factors for high growth of the aftermarket segment.

Absorbed Glass Mat (AGM) Batteries Set to Gain Traction

AGM lead acid batteries are witnessing high demand growth as compared to their flooded variants as they do not degrade and are more effective in containing spills. Within these batteries the electrolyte is kept suspended while remaining in contact with the lead. AGM batteries are proven to be more efficient at the time of recharging and discharging and the greater surface area provided by the plates gives a boost to the starting power of these batteries.

Poised to grow at a CAGR of ~7% AGM batteries offer some key benefits as below:

  • Per pound of battery, they offer greater power vis-à-vis flooded batteries
  • AGM batteries are leak-proof
  • They have a compact and sealed structure which reduces overall maintenance
  • Longer life-cycle
  • AGM batteries are shock resistant

Having a charge that is 5X faster than flooded variants, AGM batteries are prolific on deep cycling with the ability to offer an 80% depth of discharge. Despite being more costly in terms of manufacturing they outperform other variants on their performance characteristics.

Lead Acid Batteries to Benefit from Renewable Energy Storage

Renewable energy such as solar power systems are showcasing newer opportunities for the stationary lead acid battery segment. It is estimated that in countries such as Germany, Australia, prices are likely to remain the same for both residential solar systems and grid supplied energy.

In China approximately 80% of solar powered systems use lead-acid batteries. However competition in this region is very high with the emergence of other forms of renewables, newer utility storage systems and advent of electric vehicles. Despite having a smaller share lead acid batteries will make up the market for very large scale battery energy storage systems using renewable energy.

For successful integration of renewable energy into the electricity grid, newer battery technologies seem to be the ideal candidates especially with many reaching price parity. However, in order to increase the intensity and duration of electricity generation from renewable sources, will also need the utilization of options such as sensors, advanced analytics. For electricity generation at a building scale or locally entails lesser capital and also the need for commercial net metering.

Renewable sources power generation can be inconsistent especially in terms of quality and this becomes a cause of concern in commercial establishments which use data servers or larger scale health facilities like big hospitals. Here the use of flywheels can to some extent sort of power variations.

Lead Acid Batteries- Regional Analysis

Regionally, Asia Pacific appears to be a bright spot for the growth of the lead acid battery market and is expected to account for ~ 49% of the overall market share during the forecast period. The high growth within the automotive sector in countries such as Indonesia, Vietnam and Thailand is set to fuel the lead acid battery market. On back of their high reliability, they are also increasingly being preferred by OEMs. High emphasis on grid storage solutions is also fuelling growth in this region.

Following close behind is Europe, in which the market will experience a steady rate of growth on back of high penetration of lead acid batteries in electric vehicles. The region is slated for ~6% growth through 2030. The proliferation of data centers are some of the prodigious factors behind the region’s growth. A high uptake of lead acid batteries in UPS to cater for power back up requirements is another factor at play for the market’s growth.

Lead Acid Battery Market Manufacturers –

The lead acid battery market is moderately fragmented in nature in which leading stakeholders such as Johnson Controls International Plc, Hitachi Chemical Company, EnerSys and GS Yuasa Corporation account for 15%-20% of the overall market. Both leading and emerging players are extensively innovating to provide batteries that are not only technologically savvier but also low cost and recyclable.

For instance, Gridtential a US based pioneer in battery technology came out with Silicon Joule, a unique battery architecture that helps to combine safety and recyclability with a battery structure that is bipolar. This technology helps deliver high performance through high Dynamic Charge Acceptance (DCA)

GNB Industrial Power, another US based company and an offshoot of Exide Technologies has come out with TENSOR a battery that is fairly low on maintenance and high on performance. This battery is one among the company’s exhaustive portfolios of flooded and gel based lead acid batteries ideal for industrial settings.

UNISEG products has come out with the evolution of Battery Transport and Storage (BTS) container  that can be used to safely transport used lead acid batteries for recycling. These storage solutions are ideal for addressing the myriad shortcomings that are found in wooden pallets.

Lead Acid Battery Market – Environmental Contamination While Recycling to be Key Challenge

85% of lead consumption is towards lead acid batteries. The growth in various renewable energy sectors and the high need for astute energy storage solutions will directly impact demand for lead acid batteries well into the foreseeable future.

Globally lead manufacturing and recycling is practiced in highly regulated regions as well as regions where stringency is not all-pervasive. In regions where technologies and processes for lead recycling are not stringently regulated and controlled, the recycling of lead is often a source of high contamination of the environment and a detriment to human health. Even regions such as Europe and North America which are tightly regulated do see instances of lackadaisical regulatory control at industry- level recycling facilities.

High rates of uncontrolled emissions from lead recycling continues to be a key challenge plaguing the lead acid battery market.

Lead Acid Batteries – Technology to Brighten Future Outlook

A slew of technologies are set to brighten the future outlook for lead acid batteries. Till now grid operators were relying on conventional coal and gas to match demand from grid systems. Similarly renewable sources of energy like wind and solar give power on an intermittent basis. However energy storage solutions using batteries collect power and distribute it 24 hours a day.

  • Redox flow batteries offer an alternative solution to provide large scale batteries that are more cost-effective for grid energy storage. These are like large containers which store an electrolyte solution unlike li-ion batteries that use solid materials to store charge. The liquid solutions allows free movement of electrons. On a large scale, these batteries deliver units of energy at a much lower cost
  • Water based batteries hold terrific promise as they are cheaper as a raw material and safer environmentally. Recent research points to the development of batteries developed from manganese and hydrogen with charge cycles up to 10,000. The technology is such that it can power a bub of 100 watts for 12 hours at a stretch at a throwaway cost of just one cent
  • Biodegradable batteries made of polypeptides in lieu of conventional metals hold promise for wearable sensors and other applications where battery life is not that much of an issue and hence will not

A recent market study published by FMI on the lead acid battery market includes the global industry analysis of 2015-2019 & opportunity assessment for 2020-2030, and delivers a comprehensive assessment of the most important market dynamics. Our analysts have conducted thorough research on the historical as well as current growth parameters of the market to obtain growth prospects with maximum precision.

Lead Acid Battery Market: Segmentation

By Type

  • Flooded Battery
  • AGM Battery
  • Gel Battery

By Application

  • Transportation
    • OEM Transportation
      • Passenger Cars
      • Light Commercial Vehicles
      • Heavy Commercial Vehicles
      • Two wheelers
      • Others
    • Aftermarket Transportation
      • Passenger Cars
      • Light Commercial Vehicles
      • Heavy Commercial Vehicles
      • Two Wheelers
      • Others
  • Motive Industrial
    • OEM Motive Industrial
    • Aftermarket Motive Industrial
  • Stationary Industrial
    • OEM Stationary Industrial
    • Aftermarket Stationary Industrial
  • Commercial
    • OEM Commercial
    • Aftermarket Commercial
  • Residential
    • OEM Residential
    • Aftermarket Residential
  • Grid Storage
    • OEM Grid Storage
    • Aftermarket Grid Storage
  • Others
    • OEM Others
    • Aftermarket Others

By Region

  • North America
  • Latin America
  • Eastern Europe
  • Western Europe
  • APEJ
  • Japan
  • Middle East and Africa

Report Chapters

Chapter 01 – Executive Summary

The report initiates with the executive summary of the lead acid battery market, which includes a summary of the key findings and statistics of the market. It also includes the demand & supply-side trends pertaining to the lead acid battery market.

Chapter 02 – Market Overview

In this chapter, readers can find the definition and a detailed taxonomy of the lead acid battery market, which will help them understand the basic information about the lead acid battery market. Along with this, comprehensive information about the lead acid battery and its properties are provided in this section. This section also highlights the inclusions and exclusions, which help readers understand the scope of the lead acid battery market report.

Chapter 03 – Key Market Trends

The lead acid battery market report provides key market trends that are expected to significantly impact the market growth during the forecast period. Detailed industry trends are provided in this section.

Chapter 04 – Key Success Factors

This section includes the factors that have emerged as key successful factors and strategies adopted by key market participants.

Chapter 05 – Market Background

This chapter explains key macro-economic factors that are expected to influence the growth of the lead acid battery market over the forecast period. Along with the macroeconomic factors, this section also highlights the value chain, supply chain, forecast factors, Porter’s five forces analysis, and value chain analysis for the lead acid battery market. Moreover, in-depth information about the market dynamics and COVID-19 impact analysis on the market have been provided in the successive section.

Chapter 06 – Global Lead Acid Battery Market Volume Analysis 2015-2019 & Opportunity Assessment 2020-2030

This section also explains the global market volume (units) analysis and forecast for the lead acid battery market in the forecast period of 2020-2030.

Chapter 07 – Global Lead Acid Battery Market Pricing Analysis

Pricing analysis of the lead acid battery market at the regional level has been provided in this section.

Chapter 08 – Global Lead Acid Battery Market Value Analysis 2015-2019 & Opportunity Assessment 2020-2030

This section explains the global market value (US$ Mn) analysis and forecast for the lead acid battery market for the forecast period of 2020-2030. This chapter includes a detailed analysis of the historical Lead acid battery market, along with an opportunity analysis for the future. Readers can also find the absolute $ opportunity for the current year, and incremental $ opportunity for the forecast period.

Chapter 09 – Global Lead Acid Battery Market Analysis 2015-2019 & Opportunity Assessment 2020-2030, by Product Type

Based on the product type, the lead acid battery market is segmented into flooded, AGM, and gel. In this chapter, readers can find information about the key trends and developments in the lead acid battery market and market attractiveness analysis based on the product type.

Chapter 10 – Global Lead Acid Battery Market Analysis 2015-2019 & Opportunity Assessment 2020-2030, by Application

This chapter provides details about the lead acid battery market based on the application and has been classified into transportation, motive industrial, stationary industrial, commercial, residential, grid storage, and others. In this chapter, readers can understand the market attractiveness analysis based on the application.

Chapter 11 – Global Lead Acid Battery Market Analysis 2015-2019 & Opportunity Assessment 2020-2030, by Region

This chapter explains how the lead acid battery market will grow across various geographic regions such as North America, Latin America, Eastern Europe, Western Europe, Asia Pacific Excl. Japan (APEJ), Japan, and Middle East & Africa (MEA).

Chapter 12 – North America Lead Acid Battery Market Analysis 2015-2019 & Opportunity Assessment 2020-2030

This chapter includes a detailed analysis of the growth of the North America lead acid battery market, along with a country-wise assessment that includes the U.S. and Canada. Readers can also find the pricing analysis, regional trends, and market growth based on the application and countries in North America.

Chapter 13 – Latin America Lead Acid Battery Market Analysis 2015-2019 & Opportunity Assessment 2020-2030

This chapter provides the growth scenario of the lead acid battery market in Latin American countries such as Brazil, Mexico, and the Rest of Latin America. Along with this, an assessment of the market across target segments has been provided.

Chapter 14 – Western Europe Lead Acid Battery Market Analysis 2015-2019 & Opportunity Assessment 2020-2030

Important growth prospects of the lead acid battery market based on its end users in several countries such as Germany, U.K., France, Spain, Italy, and the Rest of Western Europe are included in this chapter.

Chapter 15 – Eastern Europe Lead Acid Battery Market Analysis 2015-2019 & Opportunity Assessment 2020-2030

In this chapter Russia and Poland are the prominent countries in the Eastern Europe region that are the prime subjects of assessment to obtain the growth prospects of the Eastern Europe lead acid battery market. Readers can find detailed information about the growth parameters of the Eastern Europe lead acid battery market during the forecast period of 2020-2030.

Chapter 16 – APEJ Lead Acid Battery Market Analysis 2015-2019 & Opportunity Assessment 2020-2030

This chapter highlights the growth of the lead acid battery market in APEJ by focusing on China, India, ASEAN, Australia, New Zealand, and the Rest of APEJ. This section also help readers understand the key factors that are responsible for the growth of the lead acid battery market in APEJ.

Chapter 17 – Japan Lead Acid Battery Market Analysis 2015-2019 & Opportunity Assessment 2020-2030

This chapter highlights the growth of the lead acid battery market in Japan and help readers understand the key factors that are responsible for the growth of the lead acid battery market in Japan.

Chapter 18 – MEA Lead Acid Battery Market Analysis 2015-2019 & Opportunity Assessment 2020-2030

This chapter provides information about how the lead acid battery market will grow in major countries in the MEA region such as GCC, South Africa, Turkey, and the Rest of MEA, during the forecast period of 2020-2030.

Chapter 19 – Key Emerging Countries Lead acid battery Market Analysis

This chapter provides the growth scenario of the lead acid battery of 20 key countries by product type, sales channel, and vehicle type. Additionally, COVID-19 impact in the said market in all respective countries has been included.

Chapter 20 – Market Structure Analysis

In this chapter, readers can find detailed information about the tier analysis and market concentration of key players in the lead acid battery market, along with their market presence analysis by region and product portfolio.

Chapter 21 – Competition Analysis

In this chapter, readers can find a comprehensive list of all the prominent stakeholders in the lead acid battery market, along with a detailed information about each company, which includes the company overview, revenue shares, strategic overview, and recent company developments. Some of the market players featured in the report are Exide Industries Limited, EnerSys, Johnson Controls International Plc., Leoch International Technology Ltd, SiteTel Sweden AB (NorthStar), Narada Power Source Co. Ltd, Hitachi Chemical Company, Ltd., Furukawa Electric Co., Ltd., Crown Battery Corporation, GS Yuasa Corporation, and Coslight Technology International Group Co. Ltd., among others.

Chapter 22 – Assumptions and Acronyms

This chapter includes a list of acronyms and assumptions that provides a base to the information and statistics included in the lead acid battery market report.

Chapter 23 – Research Methodology

This chapter help readers understand the research methodology followed to obtain various conclusions as well as important qualitative and quantitative information about the lead acid battery market.

Sources and Primary Research Splits (%)

Industry Interactions

  • C - Level Executives
  • Marketing Directors
  • Product Managers
  • Business Development Officers
  • Production Managers
  • Procurement Heads
  • Sales Executives
  • Distributors
  • Traders
  • Raw Material Suppliers
  • Industry Experts
  • End Users
  • Current market dynamics and challenges
  • Yesteryear trends
  • Market characteristics
  • Market performance and growth quadrants
  • Competition structure and market structure
  • Strategic growth initiatives
  • Near-term and long-term market growth prospects
  • Market segment splits and authenticity
  • Opinions on market projections and validity of assumptions

References Catalogue

  • Industry Publications
  • Industry Associations
    • OICA
    • International Trade Association
  • Factiva
  • Company Press Releases
  • Annual Reports and Investor Presentations
  • Research Papers
  • Government Websites and Publications
  • Trade Websites

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