Key Trends and Insights into the Automotive Lead Acid Batteries Market: Growth Rate and Opportunities to 2034
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How has the automotive lead acid batteries market grown in recent years?
The market size of automotive lead acid batteries has experienced steady growth over the past few years. From a value of $36.93 billion in 2024, it is anticipated to increase to $38.54 billion in 2025, with a compound annual growth rate (CAGR) of 4.4%. This growth in the past has been driven by factors such as the expansion of the automotive industry, the prevalence of conventional vehicles, their reliability and durability, the demands of the aftermarket, their performance during cold cranking, and their support for start-stop systems.
How is the automotive lead acid batteries market size expected to evolve during the forecast period?
The market for automotive lead-acid batteries is predicted to expand significantly in the upcoming years, with expectations of reaching a value of $47.97 billion in 2029, indicating a compound annual growth rate (CAGR) of 5.6%. Factors contributing to this expected growth during the forecast period include the shift to mild hybrid systems, continued popularity of conventional vehicles, market expansion in emerging regions, backing for commercial vehicles, hybridization trend, and governmental recycling initiatives. Key trends expected during this forecast period feature enhanced focus on start-stop technology, progressive battery technologies, the emergence of micro-hybrid vehicles, the incorporation of intelligent battery technologies, and evolving consumer preferences and technologies.
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Which key drivers are propelling the automotive lead acid batteries market’s growth?
The automotive lead-acid batteries market is projected to expand due to the surge in electric vehicle demand. This uptick is a result of the global movement towards emission-free transportation to combat climate change and reach net-zero emissions. Government support and the growth of electric vehicle infrastructure, including EV charging and hydrogen fueling stations, further stimulate electric vehicle utilization. This, in turn, escalates the need for automotive lead-acid batteries, which offer robust, cost-effective, safe, and dependable power for driving. Past market trends suggest this pattern will persist going forward. As reported by the France-based International Energy Agency (IEA) in April 2023, electric car sales represented 14% of all new car sales worldwide in 2022, up from 9% in 2021. This upward trajectory is poised to extend into 2023, with over 2.3 million electric cars already sold in the first quarter, signifying a 25% rise from the same time the previous year. It is also predicted that by the end of 2023, 14 million electric cars will have been sold, representing a year-on-year increase of 35%, with the purchasing rate predicted to speed up in the year’s latter half. Consequently, the growing demand for electric vehicles is set to boost the automotive lead-acid batteries market.
What are the market segments in the automotive lead acid batteries industry?
The automotive lead acid batteries market covered in this report is segmented –
1) By Type: Flooded Batteries, Enhanced Flooded Batteries, VRLA Batteries
2) By Product: SLI Batteries, Micro Hybrid Batteries
3) By Sales Channel: Automotive Lead Acid Battery Sales via OEMs, Automotive Lead Acid Battery Sales Via Aftermarket
4) By End User: Passenger Car, Light Commercial Vehicles, Heavy Commercial Vehicles, Two-Wheeler, Three-Wheeler
Subsegments:
1) By Flooded Batteries: Conventional Flooded Batteries, Maintenance-Free Flooded Batteries
2) By Enhanced Flooded Batteries (EFB): EFB For Start-Stop Systems, EFB For Conventional Applications
3) By VRLA Batteries (Valve-Regulated Lead-Acid): Absorbent Glass Mat (AGM) Batteries, Gel Batteries
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Which leading companies are shaping the growth of the automotive lead acid batteries market?
Major companies operating in the automotive lead acid batteries market are GS Yuasa International Limited, Johnson Controls Inc., Exide Industries Limited, EnerSys Inc., Panasonic Corporation, CSB Battery Company Limited, East Penn Manufacturing Company, Leoch International Technology Limited, NorthStar Battery Company LLC, Clarios LLC, Koyo Battery Company Limited, FIAMM Energy Technology S.P.A, Reem Batteries & Power Appliances Co. SAOC, Trojan Battery Company LLC, C&D Technologies Inc., Robert Bosch GmbH, Thai Bellco Battery Co.Ltd., Crown Battery Manufacturing Company, Narada Power Source Co. Ltd., Shandong Sacred Sun Power Sources Co.Ltd., Amara Raja Batteries Limited, Banner Batterien GmbH, Camel Group Co.Ltd., Fengfan Co.Ltd., Guangdong Dynavolt Power Technology Co. Ltd., Haze Battery Co. Ltd., Hitachi Chemical Energy Technology Co. Ltd., Zibo Torch Energy Co.Ltd., Coslight Technology International Group Co.Ltd., PT Astra International Tbk
What key trends are currently impacting the automotive lead acid batteries market’s development?
Technological innovations within the automotive lead-acid battery sector are an emerging trend garnering interest in the market. The primary players in the automotive lead-acid battery industry are concentrating on offering state-of-the-art battery solutions to consolidate their market standing. For example, Schaeffler India, an Indian firm involved in the manufacturing of ball and roller bearings, unveiled its TruPower 2W batteries in June 2023. These batteries, which are designed for two-wheelers including electric ones, are loaded with cutting-edge features and come with a 24-month warranty. They offer a reliable and lasting power solution, making them a top choice for two-wheeler owners who prioritize exceptional performance and dependability.
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Which geographic areas are influencing the growth of the automotive lead acid batteries market?
Asia-Pacific was the largest region in the automotive lead acid batteries market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the automotive lead acid batteries market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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