According to the research report published by Polaris Market Research, the global advanced lead acid battery market was valued at USD 22.21 billion in 2021 and is expected to reach USD 37.72 billion by 2030, to grow at a CAGR of 6.5% during the forecast period.
Market Overview:
The advanced lead acid battery market is experiencing steady growth due to its widespread adoption across various industries, including automotive, industrial, and renewable energy storage. Lead acid batteries have been in use for decades, but advancements in technology have significantly improved their efficiency, durability, and performance. These batteries continue to be a preferred choice for applications requiring reliable and cost-effective energy storage solutions.
Advanced lead acid batteries offer several benefits, such as high energy efficiency, low maintenance requirements, and enhanced lifecycle performance. They are commonly used in uninterruptible power supplies (UPS), start-stop vehicle systems, and grid energy storage. The demand for these batteries is being driven by the increasing need for energy storage solutions, particularly in developing economies, where infrastructure development is a priority.
Market Growth Drivers:
Several factors are contributing to the expansion of the advanced lead acid battery market:
- Growing Demand for Renewable Energy Storage
With the increasing adoption of renewable energy sources such as solar and wind power, the need for efficient and scalable energy storage systems has surged. Advanced lead acid batteries are being deployed in hybrid energy storage systems due to their reliability and cost-effectiveness. - Expansion of the Automotive Industry
The rise in automobile production, particularly in emerging economies, has fueled the demand for advanced lead acid batteries. These batteries are widely used in start-stop vehicle systems, electric vehicles (EVs), and hybrid electric vehicles (HEVs), offering improved efficiency and performance. - Industrial and Commercial Applications
Advanced lead acid batteries play a crucial role in industrial and commercial applications, including backup power solutions, telecom infrastructure, and material handling equipment. The growth of these sectors is directly influencing market expansion. - Increasing Investments in Battery Recycling
Environmental concerns and stringent government regulations regarding battery disposal and recycling are driving investments in sustainable battery technologies. The recyclability of lead acid batteries makes them a preferred choice compared to other battery chemistries.
Major Key Players:
- Amara Raja
- Chaowei Power Holdings Limited
- Coslight Technology International Group Co. Ltd.
- Crown Battery
- East Penn Manufacturing
- Enersys
- Exide Industries Ltd
- Furukawa Battery Co.Ltd
- GS Yuasa International Ltd
- Hitachi Chemical Energy Technology
- Leoch International Technology Limited Inc
- Midac Batteries S.P.A.
- Narada Power
- Tianneng Group
- Trojan Battery Company
𝐄𝐱𝐩𝐥𝐨𝐫𝐞 𝐓𝐡𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐂𝐨𝐦𝐩𝐫𝐞𝐡𝐞𝐧𝐬𝐢𝐯𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 𝐇𝐞𝐫𝐞:
https://www.polarismarketresearch.com/industry-analysis/advanced-lead-acid-battery-market
Recent Developments:
EnerSys and Blink Charging Partnership (July 2020)
- EnerSys partnered with Blink Charging Co. to support the launch of advanced high-power wireless and enhanced DC fast charging systems.
- These systems incorporate integrated battery storage and are designed to cater to the automotive and transportation sectors.
Amara Raja Batteries and Gridtential Energy Collaboration (June 2020)
- Amara Raja Batteries Limited entered into a strategic partnership with Gridtential Energy.
- The agreement focuses on assembling and testing Silicon Joule bipolar reference batteries, a next-generation lead battery technology utilizing silicon at its core.
- This technology offers a cost-effective and high-performance energy storage solution, enhancing power density, dynamic charge acceptance, and operational efficiency across a broader temperature range.
- Silicon Joule batteries are also designed to be up to 40% lighter while retaining complete lead-battery recyclability, combining the strengths of traditional lead batteries with silicon-enabled high-performance characteristics.
𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐥 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬:
The research study includes segmental analysis that divides the market into distinct groups or segments based on common characteristics. With market segmentation, businesses can identify specific customer groups that are more likely to be interested in specific products or services. Also, it enables these businesses to focus their marketing efforts and resources more efficiently, leading to higher conversion rates and improved return on investment. Furthermore, segmentation analysis helps companies develop personalized products or services, which can result in increased customer loyalty and improved customer satisfaction.
Advanced Lead Acid Battery Market, Type Outlook (Revenue – USD Billion, 2018 – 2030)
- Motive
- Stationary
Advanced Lead Acid Battery Market, Construction Method Outlook (Revenue – USD Billion, 2018 – 2030)
- Valve Regulated Lead Acid (VRLA) Battery
- Flooded Battery
- Others
Advanced Lead Acid Battery Market, End-Use Industry (Revenue – USD Billion, 2018 – 2030)
- Automotive and Transportation
- Energy and Power
- Industrial
- Residential
- Commercial
- Others
The future of the advanced lead acid battery market looks promising, with sustained demand from multiple end-use industries. The development of new battery technologies and increased investments in energy storage projects will continue to drive market growth. Governments and private organizations are also emphasizing research in battery performance enhancement and recycling, ensuring a sustainable growth trajectory.
𝐁𝐫𝐨𝐰𝐬𝐞 𝐌𝐨𝐫𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭𝐬:
Mid and High-Level Precision GPS Receiver Market Size
North America Automated Test Equipment Market Share