Lead Acid Battery Market Size, Share & Trends Analysis Report By Product (SLI, Stationary, Motive), By Construction Method (Flooded, VRLA), By Application, By Region- Global Industry Analysis, Share, Growth, Regional Outlook and Forecasts, 2024-2033

The global lead acid battery market size was exhibited at USD 37.99 billion in 2023 and is projected to hit around USD 60.14 billion by 2033, growing at a CAGR of 4.7% during the forecast period of 2024 to 2033.

Lead Acid Battery Market Size 2024 To 2033

Key Takeaways:

  • Asia Pacific dominated the lead acid batteries industry and accounted for more than 56.0% share of the global revenue in 2023.
  • In terms of value, Starting, Lighting, and Ignition (SLI) batteries emerged as the largest product segment and accounted for more than 53.0% of the market in 2023.
  • In terms of value, the flooded lead acid battery segment emerged as the largest construction method segment and accounted for more than 68.0% of the market share in 2023.
  • In terms of value, automotive emerged as the largest application segment and accounted for more than 58.0% of the market in 2023.

Lead Acid Battery Market Report Scope

 Report Coverage  Details
Market Size in 2024 USD 37.99 Billion
Market Size by 2033 USD 60.14 Billion
Growth Rate From 2024 to 2033 CAGR of 4.7%
Base Year 2023
Forecast Period 2024-2033
Segments Covered Product, Construction Method, Application, Region
Market Analysis (Terms Used) Value (US$ Million/Billion) or (Volume/Units)
Regional Scope North America; Europe; Asia Pacific; Central and South America; the Middle East and Africa
Key Companies Profiled East Penn Manufacturing Co.; Exide Technologies; Johnson Controls; ATLASBX Co. Ltd.; NorthStar; C&D Technologies, Inc.; Narada Power Source Co., Ltd.; Amara Raja Corporation; GS Yuasa Corp; Crown Battery Manufacturing; Leoch International Technology Ltd.

 

The market is estimated to witness growth owing to the growing adoption of lead acid batteries in automobiles and Uninterruptible Power Source (UPS) along with some developments in the manufacturing methods. The increasing demand for lead acid batteries in off-grid power generation is expected to boost the market size. The development in the transportation industry, along with an increase in energy storage applications is projected to drive industry demand in the upcoming future. Growing demand for UPS in various sectors which includes banking, oil & gas, healthcare, and chemicals has propelled industry demand further.

The adverse effects of lead batteries on the environment remain key restraining factors to growth. Also, the declining cost of lithium batteries has stalled the demand for lead-acid batteries, primarily owing to the former’s technological advancement. Continuous reduction in costs is likely to reinforce demand for the lithium-ion technology in various energy storage markets, which is also expected to restrain the market.

Advancement of the auto industry in India, Brazil, Mexico, South Korea, Indonesia, Thailand, and Vietnam is anticipated to expand the global industry size. Increasing demand for pollution-free electric automobiles coupled with technological developments is projected to fuel product demand over the upcoming years.

Segments Insights:

Product Insights

In terms of value, Starting, Lighting, and Ignition (SLI) batteries emerged as the largest product segment and accounted for more than 53.0% of the market in 2023. These are projected to witness sluggish growth due to higher demand for other types of products including stationary and motive. However, the segment is likely to expand due to increasing demand in applications requiring high power including automotive.

Increasing vehicle manufacturing, particularly in China, Japan, India, Brazil, Mexico, South Korea, and the U.S. is expected to promote expansion over the upcoming years. For instance, In October 2018, Amara Raja Batteries signed an agreement with Johnson Controls to launch a new battery technology in India which provides sophisticated consumer features and strict emission standards for the automotive industry. Such initiatives are anticipated to drive the demand for lead-acid batteries during the forecast period.

Construction Method Insights

In terms of value, the flooded lead acid battery segment emerged as the largest construction method segment and accounted for more than 68.0% of the market share in 2023. The segment is expected to lose market share owing to high maintenance costs along with complex construction. However, increasing demand for stationary applications will fuel industry growth over the forecast period.

Lead Acid Battery Market Share, By End-use, 2023 (%)

VRLA batteries are anticipated to witness the highest gains and are alone expected to contribute to over 34.0% of the revenue market share by 2023. Rising demand for VRLA in automotive applications owing to its high output and low maintenance will fuel market growth over the forecast period. In addition, VRLA lead acid batteries including AGM offer high resistance to vibration, minimize terminal corrosion, extend shelf life, and offer a low self-discharge rate. The widespread availability of various sizes of AGM lead acid batteries will fuel its demand over the next nine years.

Application Insights

In terms of value, automotive emerged as the largest application segment and accounted for more than 58.0% of the market in 2023. The extensive usage of lead acid batteries in the automotive sector is expected to grow as a result of the rising automotive sector globally. The presence of big automotive players such as TATA, Maruti Suzuki, Infinium Toyota, Mahindra, Mitsubishi, Hyundai, Honda, and Nissan have fuelled the growth of the automotive sector in the Asia Pacific due to their strong distribution channels and easy availability of their products at a cheaper price.

UPS accounted for more than 9.0% of global revenue in 2023 and is expected to witness the highest CAGR of 7.4% from 2024 to 2033. The growing demand in various industries including the medical industry, educational institutes, corporate offices, research institutions, and houses promises further growth during the forecast period. 

Regional Insights

Asia Pacific dominated the lead acid batteries industry and accounted for more than 56.0% share of the global revenue in 2023. The growing construction industry in emerging countries including China, India, Japan, Malaysia, South Korea, Vietnam, and Indonesia is projected to drive the utilization of lead-acid batteries. According to the Society of Indian Automobiles Manufacturers, total automotive sales grew by 24.0 percent in 2023-2023 over 2023-2024. Expansion in the automobile sector will lead to significant growth in sales of SLI lead acid batteries.

Lead Acid Battery Market Share, By Region 2023 (%)

Asia Pacific is anticipated to be the most lucrative market during the forecast period on account of the increasing demand for energy storage batteries in China and India. Furthermore, favorable government regulations which are designed to generate investments from public-private partnerships and foreign direct investments (FDI) are estimated to fuel lead acid battery demand till 2033. 

Some of the prominent players in the lead-acid battery market include:

  • East Penn Manufacturing Co.
  • Exide Technologies
  • Johnson Controls
  • ATLASBX Co. Ltd.
  • NorthStar
  • C&D Technologies, Inc.
  • Narada Power Source Co., Ltd.
  • Amara Raja Corporation
  • GS Yuasa Corp
  • Crown Battery Manufacturing
  • Leoch International Technology Ltd.

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2021 to 2033. For this study, Nova one advisor, Inc. has segmented the global lead acid battery market.

Product

  • SLI
  • Stationary
  • Motive

Construction Method

  • Flooded
  • VRLA

Application

  • Automotive
  • UPS
  • Telecom
  • Electric bikes
  • Transport vehicles
  • Others

By Region

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East & Africa (MEA)

Frequently Asked Questions

The global lead acid battery market size was exhibited at USD 37.99 billion in 2023 and is projected to hit around USD 60.14 billion by 2033

The global lead acid battery market is expected to grow at a compound annual growth rate of 4.7% from 2024 to 2033 to reach USD 60.14 billion by 2033.

Some key players operating in the lead acid battery market include EnerSys, C&D Technologies, Inc, East Penn Manufacturing, Johnson Controls, Crown Battery, NorthStar, Fujian Quanzhou Dahua Battery Co., Ltd., Leoch International Technology Limited, Zibo Torch Energy Co., Ltd, B.B. Battery Co., Ltd., Chloride Batteries S E Asia Pte. Ltd., Nipress, Panasonic Corporation, Exide Technologies, ATLASBX Co., Ltd., GS Yuasa Corporation, Fengfan Co., Ltd., Narada Power Source Co., Ltd., Trojan Battery Company, and Others.

Proceed To Buy

USD 4500
USD 3900
USD 1900
USD 1200

Customization Offered

  • check-img Cross-segment Market Size and Analysis for Mentioned Segments
  • check-imgAdditional Company Profiles (Upto 5 With No Cost)
  • check-img Additional Countries (Apart From Mentioned Countries)
  • check-img Country/Region-specific Report
  • check-img Go To Market Strategy
  • check-imgRegion Specific Market Dynamics
  • check-imgRegion Level Market Share
  • check-img Import Export Analysis
  • check-imgProduction Analysis
  • check-imgOthers