Automotive Lead Acid Battery Market Trends

Growth Drivers

Government Initiatives Towards the use of Zero-Emission Automobiles- With new federal legislation focusing on clean and efficient cars and trucks, the US government is aiming to sell 50 percent of zero-emission vehicles by 2030.Vehicles with zero emission include battery electric vehicles, plug-in hybrid electric vehicles, and fuel cell electric vehicles. In addition to decreasing battery prices and rising fossil fuel prices, the growing popularity of emission-free hybrid and all-electric vehicles is expected to spur market growth.

Globally Rising Exports of Automotive Lead Acid Batteries - According to the statistics by the International Trade Center, the global exports value of lead acid batteries in the year 2021 was recorded to be USD 12,551,152 thousand, which was an increase from USD 10,568,085 thousand in the previous year 2020.

Growing Investment and Development in the Electrification of Vehicles - For instance, in 2022, Mahindra & Mahindra announced that they are planning to invest USD 1 billion in electric vehicles with a line-up of five electric vehicles in next five years. Aiming to sell 2 lakh electric vehicles by FY-2027, they are taking a new path towards electric vehicles.
Rapid Expansion of Automobile Industry- It was observed that over a period of April 2021 to March 2022, the automobile industry produced nearly 22,930,000 vehicles, including passenger cars, commercial vehicles, three and two-wheelers, and quadricycles, an increase from around 22,600,000 units in April 2020 to March 2021.
Increasing Exports of Passenger Vehicles – For instance, the number of passenger vehicles exported in April 2021 to March 2022 increased from 403,390 to 570,870 units, while commercial vehicle exports increased from 50,330 to 92,290 over the same period last year.

Challenges

·Increasing Demand for Lithium-Ion Batteries in the Automotive Industry
·Battery Explosion Risk Due to Overcharging
·Availability of Low-Cost Alternatives of Automotive Lead Acid Battery

Automotive Lead Acid Battery Market: Key Insights

Base Year	2023
Forecast Year	2024–2036
CAGR	4.8%
Base Year Market Size (2023)	USD 28.07 billion
Forecast Year Market Size (2036)	USD 51.63 billion
Regional Scope	North America (U.S., and Canada) Latin America (Mexico, Argentina, Rest of Latin America) Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific) Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe) Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)

Frequently Asked Questions (FAQ)

In the year 2024, the industry size of automotive lead acid battery is evaluated at USD 29.15 billion.

Automotive Lead Acid Battery Market size was over USD 28.07 billion in 2023 and is poised to cross USD 51.63 billion by 2036, growing at more than 4.8% CAGR during the forecast period i.e., between 2024-2036. Rising sales of electric vehicles coupled with government initiatives towards the use of zero-emission automobiles will impel the market growth.

Asia Pacific is set to dominate majority revenue share by 2036, backed by expansion of the passenger car and electric vehicles (EV) sector in the region.

The major players in the market are General Motors Company, Clarios, Panasonic Corporation, GS Yuasa Corporation, Leoch International Technology Limited Inc, EnerSys, EXIDE INDUSTRIES LTD., CSB Energy Technology Co., Ltd., and others.

Automotive Lead Acid Battery Market Trends