The global lead acid battery market was valued at USD 74,760.0 million in 2023 and is projected to reach USD 100,271.1 million by 2030, growing at a CAGR of 4.3% from 2024 to 2030. Market growth is supported by the widespread use of lead acid batteries in automobiles, Uninterruptible Power Supply (UPS) systems, and ongoing advancements in manufacturing technologies.
Demand is also rising due to increased reliance on off-grid power generation, along with continued expansion within the transportation industry and greater emphasis on energy storage applications. Furthermore, growing UPS adoption across banking, oil & gas, healthcare, and chemical sectors is expected to further drive industry expansion.
Key Market Trends & Insights
- Asia Pacific dominated the market in 2023, accounting for 36.56% of global revenue.
- By product, SLI batteries were the largest segment with 53.12% share in 2023.
- By construction, the flooded lead acid battery category led the market with a 66.24% share in 2023.
- By application, the automotive segment was the largest, representing 58.57% of the 2023 market.
Download a free sample PDF of the Lead Acid Battery Market Intelligence Study by Grand View Research.
Market Size & Forecast
- 2023 Market Size: USD 74,760.0 Million
- 2030 Forecast: USD 100,271.1 Million
- CAGR (2024–2030): 4.3%
- Largest Regional Market (2023): Asia Pacific
Competitive Landscape
The market is highly fragmented, with numerous manufacturers operating across the U.S., China, and Japan. Companies are focusing on mergers, acquisitions, and joint ventures to strengthen their market presence and expand product portfolios. Competition remains intense, driven by continuous product innovation and sustained investments in R&D to improve battery performance, durability, and efficiency.
Prominent Companies
- East Penn Manufacturing Co.
- Exide Technologies
- Johnson Controls
- ATLASBX Co. Ltd.
- NorthStar
- C&D Technologies, Inc.
- Narada Power Source Co., Ltd.
Explore Horizon Databook – the world’s most comprehensive market intelligence platform by Grand View Research.
Conclusion
Steady demand from automotive, industrial, and backup power applications—combined with advancements in manufacturing and growing energy storage needs—is expected to sustain solid growth in the lead acid battery market through 2030.
No comments:
Post a Comment