Advanced Lead-acid Battery Market by Application and Geography - Forecast and Analysis 2021-2025

The advanced lead-acid battery market share is expected to increase by USD 3.08 billion from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 8.7%.

This advanced lead-acid battery market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers advanced lead-acid battery market segmentations by application (automotive, stationary, and others) and geography (Europe, North America, APAC, South America, and MEA). The advanced lead-acid battery market report also offers information on several market vendors, including AHCZS, Clarios, Crown Battery Manufacturing Co., East Penn Manufacturing Co. Inc., EnerSys, Exide Industries Ltd., GS Yuasa Corp., Leoch International Technology Ltd., Narada Power Source Co. Ltd., and The Furukawa Battery Co. Ltd. among others.

What will the Advanced Lead-acid Battery Market Size be During the Forecast Period?

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Advanced Lead-acid Battery Market: Key Drivers, Trends, and Challenges

Based on our research output, there has been a negative impact on the market growth during and post COVID-19 era. The growing adoption of advanced lead batteries in emerging golf cart marke t is notably driving the advanced lead-acid battery market growth, although factors such as increasing competition from lithium-ion batteries may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the advanced lead-acid battery market industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Advanced Lead-acid Battery Market Driver

One of the key factors driving the data center market is the growing adoption of advanced lead batteries in emerging golf cart market. Globally, the golf cart market is expected to continue to grow rapidly during the forecast period owing to the rise in popularity of golf as a game in developed countries such as the US and the UK. Golf carts are being used for commercial purposes along with their use in golf courses. For instance, in several countries, golf carts are being used in shopping malls, zoos, and large residential complexes to carry elderly people. The low maintenance requirement of battery-powered golf carts and the rise in the inclination of end users toward sustainable energy solutions have driven the demand for advanced and low maintenance electric golf carts during the forecast period. In addition, the introduction of stringent emission control regulations from authorities further fuels market growth. Therefore, the adoption of electric golf carts by end-users such as golf clubs, airports, malls, and residential societies is increasing, which is driving the demand for golf cart batteries. This, in turn, drives the global advanced lead-acid battery market.

Key Advanced Lead-acid Battery Market Trend

Grid structure changes spurring the demand for energy storage is another factor supporting the data center market growth in the forecast period. The change in power generation, storage, supply, and demand patterns have transformed grid operations. The various challenges faced by grid networks include overdependence on certain sources of power generation, such as natural gas or coal, the integration of renewables into the grid network, the variations in daily load curves, voltage regulation and control, and the implementation of efficient and low-cost energy storage solutions. Therefore, the integration of renewables with the grid network and the selection of the most appropriate energy storage solution have become critical because of the growing adoption of renewable energy sources globally. Moreover, renewable energy sources are intermittent in nature, which renders the power output uncertain on several occasions. As a result, power generation from renewables is highly prone to deviations from the nominal frequency in the grid, along with variable loads. Owing to the advantages of advanced lead-acid batteries over traditional lead-acid batteries, such as superior performance and their low-cost compared to lithium-ion batteries, lead-acid battery technology is witnessing a rapid rise in its adoption for energy storage applications. Therefore, the changing grid structure is expected to contribute to the demand for ESS and, thus, drive the growth of the global advanced lead-acid battery market during the forecast period.

Key Advanced Lead-acid Battery Market Challenge

Increasing competition from lithium-ion batteries will be a major challenge for the data center market during the forecast period. The market for lithium-ion batteries is growing at a rapid rate, which is posing competition for other battery types. The price is a major factor that distinguishes lithium-ion from other batteries. However, leading lithium-ion battery vendors are working on technological advances and reducing the cost. For instance, Tesla Inc., a US-based energy storage and automotive company, announced that it would reduce the cost of lithium-ion batteries to $100 per kWh by 2020 after the commissioning of Tesla Gigafactory. Moreover, the rapid adoption of lithium-ion batteries in applications such as data centers, EVs, and automobiles owing to the decline in their price and other benefits, is boosting the market for lithium-ion batteries. Lithium-ion batteries are safe and environmentally clean products. They can be charged in a normal room as no acid fumes are associated with the charging of these batteries. These advantages of lithium-ion batteries are the biggest threat to the market for advanced lead-acid batteries as demand for replacing lead-acid batteries with modern lithium-ion batteries is increasing. Hence, the continuous adoption and declining cost of lithium-ion batteries are expected to hinder the growth of the global advanced lead-acid battery market.

This advanced lead-acid battery market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Parent Market Analysis

Technavio categorizes the global advanced lead-acid battery market as a part of the global renewable electricity market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the advanced lead-acid battery market during the forecast period.

Who are the Major Advanced Lead-acid Battery Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

 

• AHCZS
• Clarios
• Crown Battery Manufacturing Co.
• East Penn Manufacturing Co. Inc.
• EnerSys
• Exide Industries Ltd.
• GS Yuasa Corp.
• Leoch International Technology Ltd.
• Narada Power Source Co. Ltd.
• The Furukawa Battery Co. Ltd.

 

This statistical study of the advanced lead-acid battery market encompasses successful business strategies deployed by the key vendors. The advanced lead-acid battery market is fragmented and the vendors are deploying growth strategies such as high product differentiation to compete in the market.

Product Insights and News

• Clarios - The company offers lead-acid batteries such as AGM and flooded for automotive, stationary and motive applications through its brands namely, Varta, Heliar, Optima, LTH, MAC, and Delkor.
• Exide Industries Ltd. - The company offers a line off products such as Higher KVA and Lower KVA, among others.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The advanced lead-acid battery market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Advanced Lead-acid Battery Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the advanced lead-acid battery market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

The value chain of the global renewable electricity market includes the following core components:

• Inputs
• Inbound logistics
• Operations
• Outbound logistics
• Marketing and sales
• Service
• Support activities
• Innovation

The report has further elucidated on other innovative approaches being followed by manufacturers providers to ensure a sustainable market presence.

 

Which are the Key Regions for Advanced Lead-acid Battery Market?

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60% of the market's growth will originate from APAC during the forecast period. China, Japan, and India are the key markets for advanced lead-acid batteries in APAC. However, market growth in this region will be slower than the growth of the market in EMEA and the Americas.

The increased adoption of automobiles and an increase in the demand for ESSs for utility and motive applications will facilitate the advanced lead-acid battery market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

The above-mentioned factors will drive the demand for advanced lead-acid batteries in APAC during the forecast period. However, the outbreak of COVID-19 in the region in 2020 has slowed down the production of advanced lead-acid batteries. China, which is one of the major manufacturers of advanced lead-acid batteries, has resumed manufacturing activities, with 70% of operational rates from March 11, 2020. However, trade restrictions have reduced the demand for advanced lead-acid batteries, thereby compelling manufacturers to reduce their production volumes. This is expected to slow down the growth of the market in focus in APAC during the forecast period.

What are the Revenue-generating Application Segments in the Advanced Lead-acid Battery Market?

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The advanced lead-acid battery market share growth by the application segments. Automotive segment will be significant during the forecast period. The advanced lead-acid battery market share growth by the automotive segment will be significant during the forecast period. Lower interest rates, low fuel prices, and increasing spending capacity of the population in developing countries such as China and India have been identified as the key factors that will drive the growth of the automotive segment. 

This report provides an accurate prediction of the contribution of all the segments to the growth of the advanced lead-acid battery market size and actionable market insights on post COVID-19 impact on each segment.

 

Advanced Lead-acid Battery Market Scope
Report Coverage	Details
Page number	120
Base year	2020
Forecast period	2021-2025
Growth momentum & CAGR	Accelerate at a CAGR of 8.7%
Market growth 2021-2025	$ 3.08 billion
Market structure	Fragmented
YoY growth (%)	7.00
Regional analysis	Europe, North America, APAC, South America, and MEA
Performing market contribution	APAC at 60%
Key consumer countries	China, US, Japan, India, and Germany
Competitive landscape	Leading companies, Competitive strategies, Consumer engagement scope
Key companies profiled	AHCZS, Clarios, Crown Battery Manufacturing Co., East Penn Manufacturing Co. Inc., EnerSys, Exide Industries Ltd., GS Yuasa Corp., Leoch International Technology Ltd., Narada Power Source Co. Ltd., and The Furukawa Battery Co. Ltd.
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Advanced Lead-acid Battery Market Report?

• CAGR of the market during the forecast period 2021-2025
• Detailed information on factors that will drive advanced lead-acid battery market growth during the next five years
• Precise estimation of the advanced lead-acid battery market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the advanced lead-acid battery industry across Europe, North America, APAC, South America, and MEA
• A thorough analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of advanced lead-acid battery market vendors

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