The ‘global automotive lead-acid battery market size, share, growth, price, report and forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the global automotive lead-acid battery market, assessing the market on the basis of its segments like vehicle types, products, types, customer segments, and major regions.
The report studies the latest updates in the market, along with their impact across the market. It also analyses the market demand, together with its price and demand indicators. The report also tracks the market on the basis of SWOT and Porter’s Five Forces Models.
Automotive Lead-Acid Battery Market Size, Share, Price, Growth, Trends, Industry Report, Key Players, Major Segments and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
- Forecast CAGR (2023-2028): 3.90%
Lead-acid batteries are extensively used in vehicles due to their low cost, their ability to function in extreme environmental conditions, and their high power-to-weight ratio, among others. Their convenience and excellent current capacity make them ideal for use in internal combustion engines (ICEs).
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Lead-acid batteries disconnect main battery packs from critical systems by facilitating the isolation of high voltage, hence enhancing the overall safety of vehicles.
Some of the key automotive lead-acid battery trends include the growing vehicle ownership and manufacturing and the increasing middle-class population. Moreover, the increasing demand for vehicles with advanced features, including navigation and infotainment systems and lights, among others, is bolstering the usage of lead-acid batteries.
Automotive Lead-Acid Battery Industry Definition and Major Segments
Lead-acid batteries refer to rechargeable batteries that use sulphuric acid and lead to function, which is submerged into sulphuric acid for enabling a controlled chemical reaction. They are cost-effective, durable, and reliable, and are widely used to ensure the functionality of electric components in vehicles.
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The market, on the basis of vehicle type, is categorised into:
- Passenger Cars
- Commercial Vehicles
- HEV Car
Based on product, the market is divided into:
- SLI Batteries
- Micro Hybrid Batteries
The various types of automotive lead-acid battery are:
- Flooded Batteries
- Enhanced Flooded Batteries
- VRLA Batteries
By customer segment, the market is bifurcated into:
The major regional markets of automotive lead-acid battery include:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Automotive Lead-Acid Battery Market Trends
The automotive lead-acid battery market is being fuelled by the development of high-performance lead-acid batteries and technological advancements and innovations.
Key players are developing lead-acid batteries with reduced weight, high recyclability, and improved performance. Moreover, the development of innovative carbon solutions for facilitating the customisation of lead-acid batteries for vehicles is propelling the market growth.
The introduction of favourable government initiatives aimed at lowering urban transportation pollution and improving air quality levels is driving sales of electric vehicles. Governments globally are also subsiding EVs, which is boosting the usage of lead-acid batteries due to their reality and low costs.
Key Market Players
The major players in the automotive lead-acid battery market report are Exide Technologies Inc., GS Yuasa International Ltd, Panasonic Corporation, and Leoch International Technology Limited Inc, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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