Global Automotive Lead

New York, NY, Aug. 03, 2023 (GLOBE NEWSWIRE) -- Zion Market Research has published a new research report titled “Automotive Lead-Acid Battery Market By Product (SLI Batteries And Micro Hybrid Batteries), By Type (Flooded Batteries And VRLA Batteries), By End-Use (Passenger Cars And Light & Heavy Commercial Vehicles), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030” in its research database.

“According to the latest research study, the demand of global Automotive Lead-Acid Battery Market size & share in terms of revenue was valued at USD 26 billion in 2022 and it is expected to surpass around USD 40 billion mark by 2030, growing at a compound annual growth rate (CAGR) of approximately 5.0% during the forecast period 2023 to 2030.”

What is Automotive Lead-Acid Battery? How big is the Automotive Lead-Acid Battery Industry?

Automotive Lead-Acid Battery Report Coverage & Overview:

A lead-acid battery for automobiles is a type of rechargeable battery that is essential for the ignition system of a motor vehicle. The primary objective of the product is to supply an electric current to an electric-powered motor so that the chemically-driven internal combustion engine may be started so that the engine can move forward. According to reports, the lead-acid battery consists of two different types of lead that are combined with a variety of acids in order to carry out an electrochemical process. Following that, it converts chemical energy into electric current, which, in turn, can lead to the creation of voltage in automotive applications. In addition, lead acid batteries supply the power necessary for the operation of the vehicle's accessories, such as the charging plugs for the air conditioner, the wipers, and the music players.

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Global Automotive Lead-Acid Battery Market: Growth Dynamics

The global automotive lead-acid battery market is set to experience substantial growth, primarily fueled by the surging sales of electric and hybrid vehicles. The increasing demand for eco-friendly transportation options has prompted various governments to enforce strict emission regulations, driving the need for lead-acid batteries in vehicles to enhance fuel efficiency and reduce environmental impact. Moreover, the operational advantages offered by these batteries will further boost market trends.

In addition to environmental concerns, the market's expansion will be spearheaded by the rising demand for cost-effective energy solutions. Lead-acid batteries possess the advantage of being economical and easily rechargeable, making them attractive for consumers worldwide.

The introduction of new products will play a significant role in determining the market's size and potential growth. A notable example is the recent launch of the S6, an advanced power hybrid inverter by Solis, a Chinese solar and energy storage solutions provider. This innovative inverter is compatible with both lithium-ion and lead-acid batteries, broadening the scope of demand for lead-acid batteries in the automotive sector.

Overall, the global automotive lead-acid battery market is poised for a prosperous future, driven by the increasing adoption of electric and hybrid vehicles, the demand for eco-friendly energy solutions, and continuous advancements in battery technology.

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Report Scope

Automotive Lead-Acid Battery Market: Segmentation Analysis

The global automotive lead-acid battery market is sectored into product, type, end-user, and region.

In product terms, SLI batteries and micro-hybrid batteries are the two categories that make up their respective segments of the global market for automotive lead-acid batteries. In addition to this, the SLI batteries segment, which had almost 55% of the global market share in 2022, is projected to record the greatest CAGR over the course of the timeline being analyzed here.

The extensive use of the product in commercial vehicles, motorbikes, and passenger vehicles may be credited with contributing to the expansion of the market in the years to come for this particular category. In addition, there may be a surge in demand for the product because there has been an increase in the manufacturing of vehicles, there are stricter pollution standards, and there is a demand for new automotive systems.

On the basis of the type, The global market for automotive lead-acid batteries may be broken down into two categories: flooded batteries and VRLA batteries. In addition, it is anticipated that the VRLA batteries sector will take the lead in the type segment over the forecasting years. This is because the VRLA batteries segment captured a sizeable portion of the global industry in 2022.

It is possible that the segmental increase in the timeline projection could be caused by the widespread implementation of VRLA batteries in micro-hybrid vehicles. In addition to this, they assist the energy storage requirements of micro-hybrid vehicle systems, which in turn boosts the tendencies of the global sector.

Based on the end-use, The global market for automotive lead-acid batteries can be segmented as follows: passenger cars; light & heavy commercial vehicles; and other vehicles. In addition to this, the segment of the market for passenger automobiles, which contributed a significant amount toward the global market share in 2022, is anticipated to establish global market dominance in the years to come. The significant increase in demand for lead-acid batteries in passenger vehicles may be at least partially responsible for the segment's growth throughout the anticipated timeframe.

The global Automotive Lead-Acid Battery market is segmented as follows:

By Product

By Type

By End-Use

Browse the full “Automotive Lead-Acid Battery Market By Product (SLI Batteries And Micro Hybrid Batteries), By Type (Flooded Batteries And VRLA Batteries), By End-Use (Passenger Cars And Light & Heavy Commercial Vehicles), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030” Report at https://www.zionmarketresearch.com/report/automotive-lead-acid-battery-market

Competitive Landscape

Some of the main competitors dominating the global Automotive Lead-Acid Battery market include -

Key Insights from Primary Research :

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Regional Analysis :

Asia-Pacific to account for a major share of the global market over the analysis timeline

In 2022, Asia-Pacific accounted for more than half of the global market share for automotive lead-acid batteries. It is anticipated that Asia-Pacific will continue to dominate the global market over the course of the anticipated timeframe. A increase in rapid industrialization, urbanization, and an increasing demand for premium cars in nations such as India, China, Malaysia, South Korea, Japan, and Singapore may be responsible for the market boom that has occurred in the region during the course of the evaluation timeline.

Furthermore, the presence of important automotive manufacturers in the region will contribute significantly to the revenue of the market in the Asia-Pacific region. In addition, the regional market trends will be embellished by a boom in demand for electric and hybrid automobiles across the subcontinent at subsidized pricing.

In addition, the market for lead-acid batteries used in automobiles in North America is anticipated to record the highest CAGR throughout the course of the evaluation period. Increasing trends in the use of renewable sources of energy, which are translating into a significant demand for electric vehicles in countries such as Canada and the United States, are among the most important growth drivers of the sector in the region. In addition to this, a rise in the amount of money that customers have available to spend will increase the potential for expansion of the business in the region.

By Region

Opportunities in the Automotive Lead-Acid Battery Market:

The global market for automotive lead-acid batteries is poised to witness new opportunities for growth, driven by a significant increase in vehicle production worldwide. The rising manufacturing and consumer demand for vehicles will create favorable conditions for the expansion of the lead-acid battery market in the automotive sector. Furthermore, advancements in battery technology will pave the way for innovative solutions, presenting fresh prospects for market growth on a global scale.

To know an additional revised 2023 list of market players, request a brochure of the report: https://www.zionmarketresearch.com/requestbrochure/automotive-lead-acid-battery-market

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