Lead Acid Battery Market

Lead Acid Battery Market by Technology (Basic, Advanced Lead Acid), Type (Stationary, Motive), Construction Method (Flooded, VRLA), End-User (Utilities, Transportation, Industrial, Commercial & Residential), and Region - Global Forecast to 2024

Report Code: EP 7328 Aug, 2019, by marketsandmarkets.com
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The global lead-acid battery market is projected to reach USD 52.5 billion by 2024 from an estimated USD 41.6 billion in 2019, at a CAGR of 4.7% during the forecast period. The booming telecommunication sector and expanding data industry, require a cost-effective battery storage solution to provide for backup power is expected to be the most significant catalyst driving the development of this market.

A lead-acid battery is an energy storage device that is used extensively in automotive, energy storage, and telecommunication industries and for several other purposes in various sectors, such as utilities, marine, manufacturing, and chemical & pharmaceutical industries.

Lead Acid Battery Market

The transportation segment is expected to dominate the lead-acid battery market, by end-user, from 2019 to 2024

Lead-acid batteries are used widely across industries. The market has been segmented, by end-user, into utility, transportation, industrial, and commercial & residential. The transportation segment dominated the market in 2018 and is expected to lead the lead-acid battery market during the forecast period. This is primarily because these batteries are cost-effective and are preferred for the installation in internal combustion vehicles for SLI applications.

The motive segment will continue to dominate the lead-acid battery market, by type, from 2019 to 2024

The lead-acid battery market has been segmented, by type, into stationary and motive. This segmentation is based on the nature of the application in which the battery unit is being used. A lead-acid battery is most commonly used because of its cost-effectiveness. The nature of this battery impacts the applications in which it is being used and also the kind of users that are implementing the same.

Lead Acid Battery Market

Asia Pacific is expected to grow at the highest CAGR during the forecast period

Asia Pacific dominated the global lead-acid battery market in 2018 because the region comprises relatively developing countries that require cost-effective energy storage solutions. The industrial and commercial & residential sectors, along with the transportation sector, proved to be the major consumers of these battery systems. The Asia Pacific region is expected to lead the lead-acid battery market during the forecast period. China, Singapore, South Korea, Japan, and India are considered the main industrial hubs and offer tremendous growth opportunities for the lead-acid battery market in this region.

Lead Acid Battery Market

Market Dynamics

Driver: Cost-competitive energy storage solution

In the current scenario, the cost or expenditure, be it any business, is a critical component defining the success of the business. Expenditure on energy storage forms a key component, especially for industries, which is why numerous companies invest a lot in battery storage solutions. Below is a list determining the same.

Lead Acid Battery Market

In this competitive market, the slightest of fluctuations in pricing becomes critically important in determining which manufacturer dominates the market. Although lithium-ion batteries are well poised to become the next big thing in the battery storage space, the difference in the pricing, leading to a significant overall cost difference, forms a crucial factor for its preference over lithium-ion batteries. The trend so far has been that the lead-acid battery technology is cheaper when compared with other types of battery storage systems. This price difference plays a crucial role in investments of the above-stated nature. To extract the maximum potential of a big-ticket investment, the individual component pricing is very vital as it maximizes the potential of the overall investment.

Restraint: Low-cost alternatives in energy storage space

Until recently, lead-acid batteries have been the most cost-effective technology. However, with the rise of alternative battery storage technologies, especially the lithium-ion technology, lead-acid batteries are losing out on the cost-effectiveness quotient. Lead-acid batteries are witnessing a price drop nearly across all industries. Simultaneously, the Nickel-Metal Hydride (NiMH) battery is a proven and mature technology for hybrid applications. It is used by Original Equipment Manufacturers (OEMs), including Toyota, Honda, and Lexus. The OEMs prefer these batteries for their safety, performance, and longer lifecycle in hybrid applications. Also, along with NiMH batteries, even nickel-cadmium batteries prove to be a cost-efficient solution for battery storage users. They are cheaper and more effective as an alternative to lead-acid batteries.

Opportunity: Expanding data center infrastructure

Massive demand for battery storage is found in data centers. Any power disruptions and inconsistencies in data centers may prove crucial. Thus, lead-acid batteries mostly cater to the backup power needs of this particular industry. Also, the UPS used in the industry are primarily lead-acid battery systems. Therefore, a significant amount of this category of batteries is used in this industry.

In the near future, significant demand is foreseen for the installation of data centers. With the growing generation of data, the data handling capacity is also expected to increase in the years to come. As data centers use lead-acid batteries, their demand is consequently bound to increase.

Limited usage capacity of lead-acid batteries

Lead-acid batteries are expected to have a low useable capacity. It is typically taken into consideration to use just 30–50% of the rated capacity of a typical lead-acid battery. This indicates that a 600 Ah battery bank in daily practice provides only, at the maximum, 300 Ah of actual capacity. If one even occasionally drains the batteries more than this, their life would drastically reduce. Also, these batteries waste energy and have major efficiency issues. They consume as much as 15% of the energy put into them via built-in charging, indicating inefficiency. Hence, if one supplies 100 A power, one would only be storing just 85 Ah. This can be frustrating when using the solar mode of charging when one is trying to squeeze as much efficiency out of every ampere as possible before sunset or gets covered up by clouds.

Scope of the Report:

Report Metric

Details

Market size available for years

 2017–2024

Base year considered

 2018         

Forecast period

 2019–2024

Forecast units

&USD Million (Value)

Segments covered

Technology, Type, End-User, Construction Method, and Region

Geographies covered

North America, South America, Europe, APAC, and Middle East & Africa

Companies covered

EnerSys (US), Exide Industries (India), GS Yuasa (China), Clarios (US), Panasonic (Japan), Chaowei Power (China), Narada Power (China), HBL Power Systems (India), Crown Battery (US), NorthStar (Sweden), Hitachi Chemical (Japan), Exide Technologies (US), Teledyne Technologies (US), East Penn (US), Hankook AltasBX (Korea), HOPPECKE (Germany), C&D Technologies (US), Rolls Battery (Canada), Camel Power (Malaysia), Amara Raja Power System (India), XUPAI Battery (China), Okaya Power (India), Leoch International Technology (Hong Kong), Harbin Coslight Power (China), and First National Battery (South Africa)

This research report categorizes the lead-acid battery market based on technology, type, construction method, end-user, industrial, and region

By Technology

  • Basic Lead Acid Battery
  • Advanced Lead Acid battery

By Type

  • Stationary
  • Motive&

By Construction Method

  • Flooded
  • Valve Regulated Lead Acid (VRLA)

By End-user

  • Utility
  • Transportation
  • Industrial
  • Commercial & Residential

By Industrial

  • Data Centers
  • Telecom
  • Oil & Gas
  • Others

By Region

  • Asia Pacific (China, Japan, India, South Korea, Rest of APAC)
  • North America (US, Canada, Mexico)
  • Europe (Germany, UK, Italy, Russia, Rest of Europe)
  • Middle East & Africa UAE, Saudi Arabia, South Africa, Rest of the Middle East & Africa)
  • South America (Brazil, Columbia, Rest of South America)

Key Market Players

EnerSys (US), Exide Industries  (India), GS Yuasa  (China), Clarios  (US), Panasonic  (Japan)

Recent Developments

  • In August 2019, EnerSys announced the expansion of its manufacturing capabilities at two factory locations, namely, Pennsylvania and Florida, to cater to the increasing demand from the aerospace and defense segments.
  • In August 2019, Narada Power won a contract from the United Nations (UN) project affairs to supply high-temperature HTB series batteries. The company supplied its batteries for the Yemen Hospital power supply project, funded by the World Bank and under the responsibility of the UN project office.
  • In March 2019, GS Yuasa opened a new automotive lead-acid battery plant in Turkey. The plant would be operated by İnci GS Yuasa Akό Sanayi ve Ticaret Anonim Şirketi (IGYA), an equity affiliate of GS Yuasa.
  • In November 2018, Exide Industries launched a new range of online UPS called Power NXT. This range of batteries would cater to the needs of the Small Office Home Office (SOHO) and large format retailers.
  • In March 2017, NorthStar launched RED and RED HT batteries to expand its reserve power portfolio. The RED series uses pure lead TPPL technology to deliver a recharge time of 6 hours from 50% state of charge to 100%. The RED HT series uses pure lead high-temperature–TPPL-HT technology to deliver a long life up to 7 years and better performance at an operating temperature of 40C (104F). This battery is suitable for high-temperature applications.

Key questions addressed in the report

  • What are the disruptive technology trends that will be seen over the next five years?
  • Which segments of the lead-acid battery market elements will lead by 2024?
  • Which of the construction method segments will have the maximum opportunity to grow during the forecast period?
  • Which will be the leading region with the highest market share by 2024?

To speak to our analyst for a discussion on the above findings, click Speak to Analyst

Table of Contents

1 Introduction (Page No. - 17)
    1.1 Objectives of the Study
    1.2 Definition
    1.3 Market Scope
           1.3.1 Market Segmentation
           1.3.2 Regional Scope
    1.4 Limitations
    1.5 Years Considered for the Study
    1.6 Currency
    1.7 Stakeholders

2 Research Methodology (Page No. - 21)
    2.1 Scope
    2.2 Market Size Estimation
           2.2.1 Demand-Side Analysis
                    2.2.1.1 Calculation
                    2.2.1.2 Assumptions
           2.2.2 Supply Side Analysis
                    2.2.2.1 Assumptions
                    2.2.2.2 Calculation
           2.2.3 Forecast
    2.3 Some of the Insights of Industry Experts

3 Executive Summary (Page No. - 26)

4 Premium Insights (Page No. - 30)
    4.1 Attractive Opportunities in the Lead Acid Battery Market During the Forecast Period
    4.2 Lead Acid Battery Market, By Technology
    4.3 Lead Acid Battery Market, By Type
    4.4 Lead Acid Battery Market, By Construction Method
    4.5 Lead Acid Battery Market, By End-User
    4.6 Lead Acid Battery Market, By Industrial Segment
    4.7 Lead Acid Battery Market, By Region

5 Market Overview (Page No. - 34)
    5.1 Introduction
    5.2 Market Dynamics
           5.2.1 Drivers
                    5.2.1.1 Cost-Competitive Energy Storage Solution
                    5.2.1.2 Rapid Technological Advancements and Expansion in the Telecom Sector
                    5.2.1.3 Easily Recyclable Compared With Lithium-Ion Batteries
           5.2.2 Restraints
                    5.2.2.1 Low-Cost Alternatives in Energy Storage Space
                    5.2.2.2 Safety Related to Battery Usage
           5.2.3 Opportunities
                    5.2.3.1 Expanding Data Center Infrastructure
                    5.2.3.2 Increase in Renewable Energy Generation Target
           5.2.4 Challenges
                    5.2.4.1 Limited Usage Capacity of Lead Acid Batteries
                    5.2.4.2 Growth of Electric Vehicles
    5.3 Supply Chain Analysis
           5.3.1 Raw Material Suppliers
           5.3.2 Manufacturers
           5.3.3 Distributors
           5.3.4 End-Users/Engine Manufacturers

6 Market, By Technology (Page No. - 42)
    6.1 Introduction
    6.2 Basic Lead Acid Battery
           6.2.1 Demand for Basic Lead Acid Battery is Driven By Its Low Selling Cost
    6.3 Advanced Lead Acid Battery
           6.3.1 Demand for Advanced Lead Acid Battery is Driven By Its Longer Life Cycle as Compared With Basic Lead Acid Battery

7 Market, By Type (Page No. - 46)
    7.1 Introduction
    7.2 Stationary
           7.2.1 Usage of These Batteries Would Primarily Be in the Commercial & Residential Sectors and Utilities, Which is Expected to Lead to the Growth of the Segment During the Forecast Period
    7.3 Motive
           7.3.1 Increased Application in the Starting, Lighting, and Ignition (Sli) and Related Transportation Sector is Expected to Boost the Segment During the Forecast Period

8 Market, By Construction Method (Page No. - 50)
    8.1 Introduction
    8.2 Flooded
           8.2.1 The Usage in Static Applications Will Help in the Growth of the Segment During the Forecast Period
    8.3 Vrla Battery
           8.3.1 Usage of Vrla Batteries in the Motive and Transportation Segments is Expected to Grow During the Forecast Period

9 Market, By End-User (Page No. - 54)
    9.1 Introduction
    9.2 Utility
           9.2.1 Renewable Energy Drives the Need for Lead Acid Battery Market in the Utility Segment
    9.3 Transportation
           9.3.1 Increasing Need for Efficient Management of Goods and Services in the Transportation Sector has Led to A Rise in the Demand for Lead Acid Batteries
    9.4 Industrial
           9.4.1 Power Backup in Industrial Applications Creates the Need for Usage of Lead Acid Batteries
    9.5 Commercial & Residential
           9.5.1 Demand for Advanced Lead Acid Battery Market is Driven By Its Longer Life Cycle as Compared With Basic Lead Acid Battery

10 Market, By Region (Page No. - 59)
     10.1 Introduction
     10.2 Asia Pacific
             10.2.1 By Technology
             10.2.2 By Type
             10.2.3 By Construction Method
             10.2.4 By End-User
             10.2.5 By Country
                        10.2.5.1 China
                                     10.2.5.1.1 The Nation has A Storehouse for Lead to Cater to the Rising Demand for Lead Acid Batteries
                        10.2.5.2 Japan
                                     10.2.5.2.1 The Country is Investing in the Installation of Lead Acid Batteries in the Marine Industry
                        10.2.5.3 India
                                     10.2.5.3.1 The Onset of the Electric Vehicle Market Will Provide the Push to the Lead Acid Battery Sales in the Region
                        10.2.5.4 South Korea
                                     10.2.5.4.1 Major Usage of Lead Acid Batteries Lies in Integrating Renewable Energy to the Existing Grid
                        10.2.5.5 Rest of Asia Pacific
     10.3 Europe
             10.3.1 By Technology
             10.3.2 By Type
             10.3.3 By Construction Method
             10.3.4 By End-User
             10.3.5 By Country
                        10.3.5.1 Germany
                                     10.3.5.1.1 Steady Transition in the Usage of Lead Acid Batteries From the Automotive Sector to the Utilities
                        10.3.5.2 Russia
                                     10.3.5.2.1 Major Developments in the Automobile Manufacturing Category is Expected to Boost Lead Acid Battery Sales
                        10.3.5.3 UK
                                     10.3.5.3.1 The Nation is Working on the Recycling of Lead Acid Batteries
                        10.3.5.4 Italy
                                     10.3.5.4.1 Major Projects in the Renewable Space is Expected to Use Lead Acid Batteries
                        10.3.5.5 Rest of Europe
     10.4 North America
             10.4.1 By Technology
             10.4.2 By Type
             10.4.3 By Construction Method
             10.4.4 By End-User
             10.4.5 By Country
                        10.4.5.1 US
                                     10.4.5.1.1 Major Usage is Expected to Be in Utilities and Home Systems
                        10.4.5.2 Canada
                                     10.4.5.2.1 The Nation is Set to Install Lead Acid Batteries for Renewable Integration and Data Centers
                        10.4.5.3 Mexico
                                     10.4.5.3.1 Lead Acid Batteries are Used in the Metals & Mining Industry
     10.5 South America
             10.5.1 By Technology
             10.5.2 By Type
             10.5.3 By Construction Method
             10.5.4 By End-User
             10.5.5 By Country
                        10.5.5.1 Brazil
                                     10.5.5.1.1 Brazil to Make Massive Investments in Data Centers and the Telecom Industry
                        10.5.5.2 Chile
                                     10.5.5.2.1 Chile is Set to Get Its First Major Investment in Data Centers and Hence Boost the Lead Acid Technology in the Country
                        10.5.5.3 Rest of South America
     10.6 Middle East & Africa
             10.6.1 By Technology
             10.6.2 By Type
             10.6.3 By Construction Method
             10.6.4 By End-User
             10.6.5 By Country
                        10.6.5.1 UAE
                                     10.6.5.1.1 The UAE is Expected to Install Infrastructure to Boost Telecom
                        10.6.5.2 Saudi Arabia
                                     10.6.5.2.1 Google has Set Eyes on the Country to Build Its Data Infrastructure
                        10.6.5.3 South Africa
                                     10.6.5.3.1 Renewable Integration is the Major Application Driving the Lead Acid Battery Market in the Country
                        10.6.5.4 Rest of Middle East & Africa

11 Competitive Landscape (Page No. - 90)
     11.1 Overview
     11.2 Competitive Leadership Mapping, 2018
             11.2.1 Visionary Leaders
             11.2.2 Innovators
             11.2.3 Dynamic
             11.2.4 Emerging
     11.3 Market Share Analysis
     11.4 Competitive Scenario
             11.4.1 New Product Launches
             11.4.2 Expansions & Investments
             11.4.3 Contracts & Agreements
             11.4.4 Mergers & Acquisitions

12 Company Profiles (Page No. - 98)
(Business Overview, Products Offered, Recent Developments & MnM View)* 
     12.1 Enersys
     12.2 Exide Industries
     12.3 GS Yuasa
     12.4 Clarios
     12.5 Panasonic
     12.6 Chaowei Power
     12.7 Narada Power
     12.8 HBL Power Systems
     12.9 Crown Battery
     12.1 Northstar
     12.11 Hitachi Chemical
     12.12 Exide Technologies
*Details on Business Overview, Products Offered, Recent Developments & MnM View Might Not Be Captured in Case of Unlisted Companies. 

13 Appendix (Page No. - 134)
     13.1 Insights of Industry Experts
     13.2 Discussion Guide
     13.3 Knowledge Store: Marketsandmarkets’ Subscription Portal
     13.4 Available Customizations
     13.5 Related Reports
     13.6 Author Details


List of Tables (65 Tables)

Table 1 Installation of Lead Acid Batteries in the Transportation Sector Formed the Determining Factor for Deducing the Global Lead Acid Battery Market
Table 2 Global Lead Acid Battery Market Snapshot
Table 3 Upcoming Investments in the Battery Storage Space
Table 4 Cost Comparison of Lead Acid Batteries and Lithium-Ion Batteries
Table 5 Lead Acid Battery Market Size, By Technology, 2017–2024 (USD Billion)
Table 6 Basic Lead Acid Market Size, By Region, 2017–2024 (USD Billion)
Table 7 Advanced Market Size, By Region, 2017–2024 (USD Billion)
Table 8 Lead Acid Battery Market Size, By Type, 2017–2024 (USD Billion)
Table 9 Stationary: Market Size, By Region, 2017–2024 (USD Billion)
Table 10 Motive: Market Size, By Region, 2017–2024 (USD Billion)
Table 11 Lead Acid Battery Market Size, By Construction Method, 2017–2024 (USD Billion)
Table 12 Flooded: Market Size, By Region, 2017–2024 (USD Billion)
Table 13 Vrla: Market Size, By Region, 2017–2024 (USD Billion)
Table 14 Lead Acid Battery Market, By End-User, 2018 (USD Billion)
Table 15 Utility: Lead Acid Market Size, By End-User, 2017–2024 (USD Billion)
Table 16 Transportation: Market Size, By Region, 2017–2024 (USD Billion)
Table 17 Lead Acid Battery Market Size, By Industries, 2017–2024 (USD Billion)
Table 18 Industrial: Market Size, By Region, 2017–2024 (USD Billion)
Table 19 Commercial & Residential: Market Size, By Region, 2017–2024 (USD Billion)
Table 20 Lead Acid Battery Market Size, By Region, 2017–2024 (USD Billion)
Table 21 Asia Pacific: Market Size, By Technology, 2017–2024 (USD Billion)
Table 22 Asia Pacific: Market Size, By Type, 2017–2024 (USD Billion)
Table 23 Asia Pacific: Market Size, By Construction Method, 2017–2024 (USD Billion)
Table 24 Asia Pacific: Market Size, By End-User, 2017–2024 (USD Billion)
Table 25 Asia Pacific: Market Size, By Country, 2017–2024 (USD Billion)
Table 26 China: Market Size, By End-User, 2017–2024 (USD Billion)
Table 27 Japan: Market Size, By End-User, 2017–2024 (USD Billion)
Table 28 India: Market Size, By End-User, 2017–2024 (USD Billion)
Table 29 South Korea: Market Size, By End-User, 2017–2024 (USD Billion)
Table 30 Rest of Asia Pacific: Market Size, By End-User, 2017–2024 (USD Billion)
Table 31 Europe: Market Size, By Technology, 2017–2024 (USD Billion)
Table 32 Europe: Market Size, By Type, 2017–2024 (USD Billion)
Table 33 Europe: Market Size, By Construction Method, 2017–2024 (USD Billion)
Table 34 Europe: Market Size, By End-User, 2017–2024 (USD Billion)
Table 35 Europe: Market Size, By Country, 2017–2024 (USD Billion)
Table 36 Germany: Market Size, By End-User, 2017–2024 (USD Billion)
Table 37 Russia: Market Size, By End-User, 2017–2024 (USD Billion)
Table 38 UK: Market Size, By End-User, 2017–2024 (USD Billion)
Table 39 Italy: Market Size, By End-User, 2017–2024 (USD Billion)
Table 40 Rest of Europe: Market Size, By End-User, 2017–2024 (USD Billion)
Table 41 North America: Market Size, By Technology, 2017–2024 (USD Billion)
Table 42 North America: Market Size, By Type, 2017–2024 (USD Billion)
Table 43 North America: Market Size, By Construction Method, 2017–2024 (USD Billion)
Table 44 North America: Market Size, By End-User, 2017–2024 (USD Billion)
Table 45 North America: Market Size, By Country, 2017–2024 (USD Billion)
Table 46 US: Market Size, By End-User, 2017–2024 (USD Billion)
Table 47 Canada: Market Size, By End-User, 2017–2024 (USD Billion)
Table 48 Mexico: Market Size, By End-User, 2017–2024 (USD Billion)
Table 49 South America: Market Size, By Technology, 2017–2024 (USD Billion)
Table 50 South America: Market Size, By Type, 2017–2024 (USD Billion)
Table 51 South America: Market Size, By Construction Method, 2017–2024 (USD Billion)
Table 52 South America: Market Size, By End-User, 2017–2024 (USD Billion)
Table 53 South America: Market Size, By Country, 2017–2024 (USD Billion)
Table 54 Brazil: Market Size, By End-User, 2017–2024 (USD Billion)
Table 55 Chile: Market Size, By End-User, 2017–2024 (USD Billion)
Table 56 Rest of South America: Market Size, By End-User, 2017–2024 (USD Billion)
Table 57 Middle East & Africa: Market Size, By Technology, 2017–2024 (USD Billion)
Table 58 Middle East & Africa: Market Size, By Type, 2017–2024 (USD Billion)
Table 59 Middle East & Africa: Market Size, By Construction Method, 2017–2024 (USD Billion)
Table 60 Middle East & Africa: Market Size, By End-User, 2017–2024 (USD Billion)
Table 61 Middle East & Africa: Market Size, By Country, 2017–2024 (USD Billion)
Table 62 UAE: Market Size, By End-User, 2017–2024 (USD Billion)
Table 63 Saudi Arabia: Market Size, By End-User, 2017–2024 (USD Billion)
Table 64 South Africa: Market Size, By End-User, 2017–2024 (USD Billion)
Table 65 Rest of the Middle East &Africa: Market Size, By End-User, 2017–2024 (USD Billion)


List of Figures (37 Figures)

Figure 1 Market Share of the Leading Players, 2018
Figure 2 Basic Lead Acid Battery Segment is Expected to Dominate the Lead Acid Battery Market, By Technology, From 2019 to 2024
Figure 3 Motive Segment is Expected to Dominate the Market, By Type, From 2019 to 2024
Figure 4 Vrla Segment is Expected to Dominate the Market, By Construction Method, From 2019 to 2024
Figure 5 Transportation Segment is Expected to Dominate the Market, By End-User, From 2019 to 2024
Figure 6 Data Centers is Expected to Dominate the Industrial Market From 2019 to 2024
Figure 7 Asia Pacific Held the Largest Share of the Market in 2018
Figure 8 Growth in the Global Need for A Cost-Competitive Energy Storage Solution Clubbed With Rapid Expansion in Telecom and Data Industries is Expected to Drive the Market
Figure 9 Advanced Lead Acid Battery Segment Dominated the Market, By Technology, in 2018
Figure 10 Motive Segment is Expected to Dominate the Lead Acid Battery Market, By Type, During the Forecast Period
Figure 11 Vrla Battery Segment is Expected to Dominate the Market, By Construction Method, During the Forecast Period
Figure 12 Transportation Segment is Expected to Dominate the Market, By End-User, During the Forecast Period
Figure 13 Data Centers Dominated the Industrial Market in 2018
Figure 14 Asia Pacific is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 15 Lead Acid Battery Market: Drivers, Restraints, Opportunities, and Challenges
Figure 16 Global Increase in the Data Handling Capacity
Figure 17 Market: Supply Chain Analysis
Figure 18 Market, By Technology, 2018
Figure 19 Market (Value), By Type, 2019 & 2024
Figure 20 Market (Value), By Construction Method, 2019 & 2024
Figure 21 Lead Acid Battery Market, By End-User, 2018
Figure 22 Regional Snapshot: Asia Pacific Market is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 23 Market Size, By Region, 2019–2024
Figure 24 Lead Acid Battery Market Share (Value), By Region, 2024
Figure 25 Asia Pacific: Regional Snapshot
Figure 26 Europe: Regional Snapshot
Figure 27 North America: Regional Snapshot
Figure 28 Key Developments in the Market, January 2016–August 2019
Figure 29 Lead Acid Battery Market (Global) Competitive Leadership Mapping, 2018
Figure 30 Market Share, 2018
Figure 32 Exide Industries: Company Snapshot
Figure 35 Chaowei Power: Company Snapshot
Figure 37 HBL Power Systems: Company Snapshot

This study involved four major activities in estimating the current size of the lead acid battery market. Exhaustive secondary research was done to collect information on the market, the peer market, and the parent market. The next step was to validate these findings, assumptions, and market sizing with industry experts across the value chain through rigorous primary research. Both top-down and bottom-up approaches were used to estimate the total market size. After that, the market breakdown and data triangulation technique were done to estimate the market size of the segments and corresponding sub-segments.

Secondary Research

This research study involved the use of extensive secondary sources, directories, and databases, such as  North American Industry Classification System (NAICS)-data, U.S. vehicle registration statistics-data, Battery Association Of Japan-data, International Organization of Motor Vehicle Manufacturers-data, Industrial Technology Research Institute (ITRI) lead usage Industry Publications, several newspaper articles, Statista Industry Journal, Factiva, and, lead acid batteries journal, to identify and collect information useful for a technical, market-oriented, and commercial study of the lead acid battery market. The other secondary sources included annual reports, press releases & investor presentations of companies, white papers, certified publications, articles by recognized authors, manufacturer associations, trade directories, and databases. 

Primary Research

The lead acid battery market comprise several stakeholders such as the companies related to the industry, such as, consulting companies in the battery storage technology sector, government & research organizations, investment organizations, forums, alliances & associations, battery storage solution providers, original equipment manufacturers (OEM), aftermarket solution providers, state & national utility authorities, battery recycle assemblers, Lead acid battery refurbishing companies, dealers & suppliers, and vendors. Its usage characterizes the demand side of this market by end-users like utilities, transportation sector, industries, such as data centers, telecom industries, oil & gas, chemical & pharmaceutical, food & beverage, etc., and the commercial & residential sector. Advancements characterize the supply side in battery manufacturing techniques by OEMs and refurbishing companies, manufacturing basic and advanced lead acid batteries. Various primary sources from both the supply and demand sides of the market were interviewed to obtain qualitative and quantitative information. The breakdown of primary respondents is as following.

Lead Acid Battery Market

To know about the assumptions considered for the study, download the pdf brochure

Market Size Estimation

Both top-down and bottom-up approaches have been used to estimate and validate the size of the global lead acid battery market and its dependent submarkets. These methods were also used extensively to estimate the size of various sub-segments in the market. The research methodology used to estimate the market size includes the following:

  • The key players in the industry and market have been identified through extensive secondary research, and their market shares in the respective regions have been determined through both primary and secondary research.
  • The industry’s supply chain and market size, in terms of value, have been determined through primary and secondary research processes.
  • All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.

Data Triangulation

After arriving at the overall market size—using the market size estimation processes as explained above—the market was split into several segments and sub-segments. To complete the entire market engineering process and arrive at the exact statistics of each market segment and subsegment, the data triangulation, and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both the demand and supply sides in the lead acid battery market.

Report Objectives

  • To define, describe, and forecast the global lead acid battery market by technology, type, construction method, end-user, and region
  • To provide detailed information on the major factors influencing the growth of the lead acid battery (drivers, restraints, opportunities, and industry-specific challenges)
  • To strategically analyze the market with respect to individual growth trends, prospects, and contribution of each segment to the market
  • To analyze market opportunities for stakeholders and details of a competitive landscape for market leaders
  • To forecast the growth of the market with respect to the major regions (Asia Pacific, Europe, North America, South America, and the Middle East & Africa)
  • To strategically profile key players and comprehensively analyze their market rankings and core competencies
  • To track and analyze the competitive developments such as contracts & agreements, expansions, new product developments, mergers & acquisitions, and partnerships in the lead acid battery market.

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Report Code
EP 7328
Published ON
Aug, 2019
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