In cars, lead acid batteries are typically used as SLI batteries. The market is being directly impacted by rising car sales and production as well as an expanding vehicle part. In comparison to other batteries, lead acid batteries are less expensive and offer end users the best option.
NEWARK, Del: According to the latest research by Future Market Insights (FMI), The global Automotive Lead Acid Battery Market estimates the market to expand at a steady CAGR of over 3.3% by year 2031-end.
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.
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.
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Also, the advent of new technologies is 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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Table of Content
- Executive Summary
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Analysis and Recommendations
- Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
- Key Market Trends
- Key Success Factors
- Global Market Demand Analysis 2016-2020 and Forecast, 2021-2031
5.1. Historical Market Volume (Units) Analysis, 2016-2020
5.2. Current and Future Market Volume (Units) Projections, 2021-2031
5.3. Y-o-Y Growth Trend Analysis
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About Future Market Insights, Inc.
Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.
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