The report "Automotive Lead Acid Batteries Market by Product (SLI Batteries, Micro Hybrid Batteries), Type (Flooded, VRLA), Customer Segment (OEM, Aftermarket), End Use (Passenger Cars, Light & Heavy Commercial Vehicles), and Region - Global Forecast to 2028", is projected to grow from USD 27.8 billion in 2023 to USD 34.0 billion by 2028, at a CAGR of 4.2%. The market research report presents a complete judgment of the market through strategic insights on future trends, automotive lead acid batteries market size, share, growth factors, supplier landscape, demand landscape, Y-o-Y growth rate, CAGR, pricing analysis.
Lead-acid batteries have been the primary choice for automotive applications due to their affordability, reliability, and ability to deliver high currents required for starting vehicles. The demand for lead-acid batteries in the automotive industry is directly linked to the production and sales of vehicles. With the expansion of the global automotive market, the demand for lead-acid batteries is also increasing. Emerging regions with growing automotive industries contribute significantly to the demand for these batteries.
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159 – Tables
39 – Figures
178 – Pages
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Automotive Lead Acid Batteries Market Dynamics
- Driver: The growing demand for vehicles, particularly in emerging markets, and the widespread use of lead acid batteries in starting, lighting, and ignition (SLI) systems are key drivers boosting the market.
- Restraint: Environmental concerns related to lead usage and stringent regulations on hazardous materials pose significant restraints, limiting the expansion of the lead acid battery market.
- Opportunity: Advancements in recycling technologies and the rising demand for energy storage in hybrid and electric vehicles offer growth opportunities for lead acid batteries, especially in sustainable applications.
- Challenge: Intense competition from alternative battery technologies, such as lithium-ion, presents a significant challenge for lead acid battery manufacturers in maintaining their market share.
By product, the micro hybrid batteries segment is estimated to be the fastest-growing segment of automotive lead acid batteries market during 2023 to 2028.
The micro hybrid batteries segment, by product, is projected to be the fastest-growing market during the forecast period. The demand for micro hybrid batteries is increasing due to the growing popularity of start-stop technology in vehicles. Start-stop systems offer fuel efficiency improvements by reducing idle time, resulting in lower emissions and improved overall vehicle efficiency. As automakers strive to meet stricter emission standards and improve fuel economy, the adoption of start-stop systems and corresponding micro hybrid batteries is expected to rise.
By type, the flooded batteries segment accounted for the second-largest share of automotive lead acid batteries market in 2022.
Flooded batteries continue to be widely used in the automotive sector, particularly in traditional internal combustion engine vehicles. Despite the increasing adoption of other battery technologies in electric vehicles, flooded batteries are still commonly used for engine starting, lighting, and ignition (SLI) applications. The automotive sector's steady demand for flooded batteries contributes to the overall market trend.
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By end use, the passenger cars segment is projected to account for the largest share of the automotive lead acid batteries market during the forecast period.
In developing economies, where automotive markets are still evolving, lead acid batteries continue to be widely used in passenger cars. These batteries offer a cost-effective solution for automotive power needs in countries with price-sensitive markets. As these economies continue to grow and vehicle ownership expands, the demand for lead acid batteries in passenger cars is expected to persist.
By customer segment, aftermarket is expected to be the fastest-growing segment of the automotive lead acid batteries market during the forecast period.
The aftermarket segment plays a significant role in the automotive lead acid batteries market. As lead acid batteries have a limited lifespan and require periodic replacement, the aftermarket sector provides consistent demand for new batteries. Many consumers opt for lead acid batteries as replacements for their existing vehicles, especially for older models and vehicles that do not require advanced electrical systems. Thus, the aftermarket segment is estimated to have substantial growth.
Asia Pacific is estimated to account for the largest share of automotive lead acid batteries market during 2023 to 2028.
The automotive industry in Asia is rapidly expanding, driven by increasing vehicle production and sales. Lead acid batteries are extensively used in automotive applications, particularly in conventional internal combustion engine vehicles. As the demand for vehicles continues to rise in Asia, the demand for lead acid batteries in the automotive sector is expected to grow accordingly.
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Automotive Lead Acid Batteries Market Trending Key Players
The major players operating in the automotive lead acid batteries market include Camel Group Co., Ltd. (China), C&D Technologies, Inc. (US), Clarios (US), CSB Energy Technology Co., Ltd. (Taiwan), East Penn Manufacturing Company (US), EnerSys (US), Exide Industries Ltd. (India), Exide Technologies (France), GS Yuasa Corporation (Japan), Koyo Battery Co., Ltd. (Taiwan), Leoch International Technology Limited (China), Mebco (Saudi Arabia), PT. Century Batteries Indonesia (Indonesia), Reem Batteries (Oman), Ritar International Group (China), Robert Bosch GmbH (Germany), Stryten Energy (US), Tai Mao Battery Co., Ltd. (Taiwan), Tianneng (China), and others.
Clarios is among the global leaders in advanced energy storage solutions, specializing in automotive and transportation applications. Formerly known as Johnson Controls Power Solutions, the company was acquired by Brookfield Business Partners in 2019 and rebranded as Clarios. The company focuses on designing, manufacturing, and distributing innovative energy storage technologies, primarily automotive batteries. It provides a wide range of battery products, including lead-acid batteries, lithium-ion batteries, and other advanced battery technologies. These batteries power various types of vehicles, such as cars, trucks, motorcycles, boats, and recreational vehicles.
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