Global Automotive Lead-Acid Battery Market Report to 2027: A $15+ Billion Opportunity – IMARCGroup.com
Market Statistics:
According to IMARC Group latest published report, titled “Automotive Lead-Acid Battery Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” that the global automotive lead-acid battery market size reached US$ 12.7 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 15.0 Billion by 2027, exhibiting at a CAGR of 2.6% during 2022-2027.
Industry Definition and Application:
An automotive lead-acid battery is a rechargeable battery comprising sponge lead (Pb) and lead peroxide (PbO2) plates immersed in sulfuric acid to convert chemical energy into electrical power. It is utilized in the starting, lighting, and ignition (SLI) process of automobiles, such as motorbikes and passenger and commercial vehicles. It assists in supplying voltage to various accessories in vehicles like music systems, wipers, radios, air conditioners (ACs), and charging plugs. It is commonly available in valve-regulated lead-acid (VRLA), enhanced flooded, and flooded battery variants.
VRLA battery is also known as a maintenance-free battery as it has a higher charge acceptance, which enables the batteries to charge faster. On the other hand, an enhanced flooded battery is a sealed casing battery that provides a cost-effective solution for entry-level and traditional start-stop vehicles. Whereas flooded batteries, also known as vented batteries, require constant monitoring and topping up with distilled water to ensure longevity. An automotive lead-acid battery has high cell voltage and a large power-to-weight ratio as they supply high surge currents and are highly compatible with motor vehicles as compared to conventionally used batteries. It also offers robustness, cost-effectiveness, and resistance to wear and tear and can tolerate overcharging.
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Covid-19 Impact:
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Competitive Scenario with Key Players:
The competitive landscape of the market has also been analyzed, with some of the key players being
Toyota Motor Corporation, Honda Motor Co. Ltd., Ford Motor Company, Volkswagen Aktiengesellschaft, General Motors Company, Hyundai Motor Company, Nissan Motor Corporation Ltd., etc.
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Automotive Lead-Acid Battery Market Trends:
Increasing sales of hybrid electric vehicles on account of the expanding global population, rapid urbanization, and inflating income levels of individuals represent one of the major factors driving the demand for automotive lead-acid batteries around the world. Due to the inflating prices of petrol, the rising demand for fuel-efficient and high-performance vehicles is also contributing to the market growth. Along with this, due to the growing environmental awareness among individuals, several governing agencies are implementing guidelines to encourage the use of automotive lead-acid batteries and reduce the carbon footprint, which is also driving the market. In addition, rising investments in the upgradation of public charging infrastructures for electric three- or two-wheelers are increasing the need for automotive lead-acid batteries worldwide. Apart from this, key players are introducing new recycling technologies, such as direct recycling or cathode-to-cathode recycling, to recover minerals, metals, chemicals, and chemical powders. This, in turn, is creating a positive outlook for the market. Additionally, leading players operating in the industry are extensively investing in research and development (R&D) activities to introduce miniaturized automotive lead-acid batteries with enhanced efficiency. They are also focusing on designing advanced and eco-friendly variants that are more durable, reliable, and sustainable than other conventional batteries, which is projected to strengthen the growth of the market.
Objectives of the study:
- To segment the global automotive lead-acid battery market by vehicle type, product, type, customer and region
- To estimate and forecast the global market by region, namely, North America, Asia-Pacific, Europe, and Latin America and Middle East & Africa
- To estimate and forecast the market size in terms of value (USD 15.0 billion), at global and regional levels
- To analyse the key market drivers, restraints, growth, opportunities, and challenges influencing the global market
- To identify the profile of the top key market players and analyse their core competencies in each segment of the global market.
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