Global Automotive Lead Acid Battery Market

Automotive Lead Acid Battery Market Size, Share, Growth Analysis, By Battery Type(Lead-acid, Lithium-ion, and Others), By Vehicle Type(Commercial Vehicles and Passenger Cars), By Engine Type(IC Engine and Electric Vehicle), By Region - Industry Forecast 2024-2031

Report ID: SQMIG25A2252 | Region: Global | Published Date: April, 2024
Pages: 219 | Tables: 86 | Figures: 81

Automotive Lead Acid Battery Market Insights

Global Automotive Lead Acid Battery Market size was valued at USD 50.2 Billion in 2022 and is poised to grow from USD 18.31 Billion in 2023 to USD 77.04 Billion by 2031, growing at a CAGR of 5.5% in the forecast period (2024-2031).

Lead-acid batteries have long been a common energy source for automotive use due to their affordability and reliability. However, there have been significant changes in market dynamics driven by technological advances, changing consumer preferences and regulatory pressures. The rise of electric vehicles (EVs) and hybrid vehicles increases the demand for advanced battery technologies, challenging traditional lead batteries Also, environmentally increasing awareness and stringent emissions regulations drive automotive manufacturers to search for alternative energy sources, significantly affecting market growth, especially in internal combustion engine vehicles and support systems, continue to dominate in addition to ongoing efforts to optimize battery performance, lifetime and recyclability are influencing market trends and shaping the competitive landscape.

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Automotive Lead Acid Battery Market size was valued at USD 50.2 Billion in 2022 and is poised to grow from USD 18.31 Billion in 2023 to USD 77.04 Billion by 2031, growing at a CAGR of 5.5% in the forecast period (2024-2031).

The competitive landscape of the automotive lead acid battery market is characterized by intense competition between multiple players vying for market share. These companies operate in a variety of industries, offering lead battery solutions many types for in automotive applications. The major players covered in automotive lead acid batteries market report are Johnson Controls, Exide Technologies, GS Yuasa International Ltd., Mebco, Reem Batteries & Power Appliances Co. SAOC, ENERSYS, among other domestic and players. 'Exide Industries', 'Apex Battery', 'BAE Batteries USA', 'Bioenno Power', 'Briggs & Stratton', 'Chaowei Power', 'Clarios', 'Crown Battery', 'East Penn Manufacturing Co.', 'EnerSys', 'Furukawa Electric', 'GS Yuasa Corporation', 'HBL Power Systems', 'Hitachi Chemical', 'JYC Battery', 'K2 Battery', 'Leoch International Technology', 'Lithion Battery', 'Luminous', 'Microtek', 'Northstar', 'Panasonic Corp.', 'Su-KAM', 'The Sunlight Group', 'V-Guard'

The affordability and demonstrated reliability of lead-acid batteries preserve to pressure their adoption in car packages, mainly in conventional inner combustion engine motors and auxiliary structures which includes begin-stop structures and lighting fixtures. Despite the emergence of opportunity battery technologies, lead-acid batteries continue to be the preferred desire for cost-aware clients and manufacturers in search of dependable electricity solutions.

Growing Trend in Electric Transmission Which Will Drive the Market Growth: Increasing adoption of e-mobility in developed economies and changing automotive markets in developing economies are likely to fuel demand for automotive batteries. Manufacturers’ focus on introducing new generations. EVs are fueling electrification in the automotive industry by increasing vehicle sales and improving living standards among citizens. Thus, the rise of lithium-ion batteries in electric vehicles (EVs) is estimated to drive the market growth in the coming years.

Asia-Pacific dominated the automotive lead acid battery market, primarily driven by the growing regional automotive industry, rapid urbanization and expanding transport infrastructure. Countries such as China, Japan, India for consumer vehicles Despite the increase in electric vehicles in the region due to their automotive market size and manufacturing capacity, lead batteries continue to play a dominant role in powering conventional vehicles and auxiliary systems, maintaining its dominance in the automotive lead acid battery market.

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Automotive Lead Acid Battery Market Size, Share, Growth Analysis, By Battery Type(Lead-acid, Lithium-ion, and Others), By Vehicle Type(Commercial Vehicles and Passenger Cars), By Engine Type(IC Engine and Electric Vehicle), By Region - Industry Forecast 2024-2031

Automotive Lead Acid Battery Market Insights

Automotive Lead Acid Battery Market Report Snapshots

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