The increasing need for reliable and affordable energy storage systems within multiple industries is propelling the market for lead-acid batteries. The increased automobile industry especially the sustained popularity of conventional cars, electric vehicles (EVs) and hybrid vehicles all of which require lead-acid batteries for starting, lighting and ignition (SLI) is a major driver. In addition, the expansion of renewable energy systems demands efficient energy storage technologies and lead-acid batteries are utilized because they are long lasting, recyclable and less expensive initial purchase prices compared to other batteries. This has led to its extensive use in backup power systems, uninterruptible power supplies (UPS) and grid storage solutions by allowing the market to exceed a revenue of USD 45.12 Billion worth in 2024 and achieve a valuation of approximately USD 78.34 Billion by 2035.
In addition, the demand for lead-acid batteries from the industrial sector has grown because they are used in forklifts, material handling equipment and other industrial equipment that needs reliable power sources. The telecommunication sector also depends heavily on lead-acid batteries for backup power to ensure that networks and data centers remain operational during outages. As technological advancements enhance lead-acid batteries performance and longevity, their demand expands solidifying their position in satisfying both conventional and new energy requirements. Lead-acid batteries continue to be favored across a range of applications owing to their cost-defined recycling network and flexibility by allowing the market to expand at a CAGR of 7.50% during 2024-2035.
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How the Competition from Alternative Technologies Will Impede the Lead Acid Battery Market
The lead-acid battery industry is coming under intense threat as newer battery technologies specifically lithium-ion and nickel-metal hydride (NiMH) batteries become more in demand. Lithium-ion batteries that are recognized for their large energy density, long life span and affordable prices are gaining ground in an expanding array of uses such as consumer electronics, electric vehicles and energy storage from renewable sources. When these technologies become more economical, the price benefit of lead-acid batteries loses its significance as it becomes challenging for them to compete.
In addition, NiMH batteries are established to be a dependable source especially in hybrid cars where endurance, performance and safety are a priority. Original Equipment Manufacturers like Toyota, Honda and Lexus use NiMH batteries because of their better performance for hybrid use. Improved safety record and longer lifecycle of NiMH batteries make it a more favorable choice for the automotive and other industrial uses thereby significantly decreasing lead-acid batteries’ market share.
Competitive Landscape
The Lead Acid Battery Market is a competitive and dynamic market, with a wide variety of players competing for market share. The players are in a race for establishing their presence through the implementation of strategic measures like collaborations, mergers, acquisitions and political backing. The organizations are keen on innovating their product line to cater to the large population in various regions.
Some of the leading companies in the lead acid battery industry are
Johnson Controls
Exide Technologies
East Penn Manufacturing Co.
GS Yuasa Corporation
EnerSys
C&D Technologies
NorthStar Battery
Crown Battery
Leoch International Technology Limited
Narada Power Source Co. Ltd.
Recent Developments
In January 2022, Recyclus launched England’s first lead-acid battery recycling facility. The plant in Tipton is expected to increase its capacity to recycle lead acid batteries from an initial capacity of 16,000 tons a year to approximately 80,000 tons by 2027.
In June 2021, EnerSys announced a capital spend in excess of USD 100 million in the next three years to increase its Thin Plate Pure Lead (TPPL) production capacity by 15%. This and other projects are expected to increase TPPL capacity by more than USD 500 million annually.
| Report Coverage | Historical and Forecast Revenue Forecast, Historical and Forecast Volume, Growth Factors, Trends, Competitive Landscape, Key Players, Segmentation Analysis |
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| Key Players | Johnson Controls, Exide Technologies, East Penn Manufacturing Co., GS Yuasa Corporation, EnerSys, C&D Technologies, NorthStar Battery, Crown Battery, Leoch International Technology Limited, Narada Power Source Co. Ltd. |
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