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Lead acid battery market includes rechargeable devices such as lead electrodes submerged in diluted sulfuric acid. It utilizes lead electrodes and sulphuric acid as electrolyte to store electrical energy. Lead acid battery is used for starting, lightning and ignition (SLI) purpose in automobiles. These batteries provide voltage supply to vehicle accessories such as radio, music players, air conditioners, wipers and charging plugs. Lead acid batteries are reliable, durable, less expensive and requires relatively low maintenance cost than other batteries.
Lead calcium batteries, lead antimony batteries, valve regulated lead acid batteries, Absorbed Glass Mat (AGM) Battery, Gel Cell, SLI Batteries, deep cycle batteries and advanced lead acid batteries are a few varieties of lead acid battery. These batteries find application in automotive and traction applications, standby/back-up/emergency power for electrical installations, submarines, high current drain applications and sealed battery types available for use in portable equipment.
The global market for lead acid battery is estimated to grow during the forecast period (2017-2023) on account of the growing demand for stationary lead acid batteries in off-grid renewable energy generation. Increasing vehicle production coupled with rising adoption of vehicle electrification are anticipated to be the major factors that is expected to create vast opportunities for key players in automobile lead acid battery market. Based on product, SLI batteries segment is projected to grow during the forecast period; however, stationary batteries are expected to witness a below average growth during the forecast period. Based on application, transportation and stationary industrial segment is expected to drive the lead acid battery market in the forecast period.
Trends
Implementation of smart grid projects, deployment of vehicle-charging infrastructure, increasing usage of hybrid and electric vehicles and increasing span of telecom towers are some of the factors expected to drive the global lead acid battery market.
Moreover, increasing focus on absorbent glass mat (AGM) batteries is expected to propel the market growth for lead acid battery during the forecast period. AGM batteries are maintenance-free, more vibration resistant and has zero fume emissions. Owing to the low internal resistance of these batteries and longer service life, the market for lead acid battery is projected to grow during the forecast period.
Growth Drivers
The growing demand for lead acid batteries in automobiles such as passenger cars, commercial cars and motorcycles has driven the global market for lead acid battery. Rapid urbanization and industrialization trending across the developing countries for uninterrupted power supply has also driven the lead acid battery market. Growing application of energy storage and the increasing use of UPS in industrial sectors such as oil and gas, manufacturing, chemical and healthcare has propelled the growth of the global lead acid battery market. VRLA batteries are expected to witness a significant growth owing to their vast application in UPS systems, security systems, emergency lighting systems and radio communication systems. Owing to the high-power output of flooded batteries, they are in high demand in marine applications thus, expecting a growth during the forecast period.
Growth Restraints
The major challenge faced by the lead acid battery market is the high lead content which in turn can harm the environment. Low energy density of lead acid batteries may pose as an obstruction to the growth of the global lead acid battery market. Additionally, environmental impact regulations regarding lead emission levels coupled with volatile lead prices affects the profit share of the manufacturers is expected to be a major restraint for the growth of lead acid battery.
Key players in the global lead acid battery market include Johnson Controls Inc., GS Yuasa Corporation, Exide Technologies, EnerSys, C&D Technologies Inc., Amara Raja Batteries Limited, Eaglepicher Technologies, LLC, Axion Power International and East Penn Manufacturing.
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