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

  • Published: May 2021
  • Pages: 136
  • SKU: IRTNTR40491
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The lead-acid battery market share is expected to increase by USD 6.33 billion from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 3%.

This 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 lead-acid battery market segmentations by application (automotive, stationary, and motive) and geography (APAC, Europe, North America, MEA, and South America). The lead-acid battery market report also offers information on several market vendors, including Accumulatorenwerke HOPPECKE Carl Zoellner & Sohn GmbH, C&D Technologies Inc., Clarios, East Penn Manufacturing Co. Inc., EnerSys, Exide Industries Ltd., Exide Technologies, GS Yuasa Corp., Leoch International Technology Ltd., and Narada Power Source Co. Ltd. among others.

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

Lead-acid Battery Market Size

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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 growth in demand for industrial applications is notably driving the lead-acid battery market growth, although factors such as declining costs of 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 lead-acid battery industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Lead-acid Battery Market Driver

One of the key factors driving the lead-acid battery market growth is the growth in demand for industrial applications. The industrial sector uses lead-acid batteries at a very large scale. Lead-acid batteries are used in numerous applications, including telecom towers and material handling equipment such as forklifts, excavators, and AGVs. End-users of material handling equipment include mechanical, automotive, food and beverage, logistics, chemical, timber and paper printing, and retail and wholesale companies. Material handling equipment can be divided into two types, electricity-powered material handling equipment, which runs on batteries, and ICE-based material handling equipment, which employ lead-acid batteries for SLI applications. As both types of material handling equipment use lead-acid batteries, the growing demand for material handling equipment will drive the demand for lead-acid batteries. Moreover, the demand for material handling equipment is growing globally, especially owing to the booming manufacturing and e-commerce markets. The telecom sector is growing across the globe owing to the increase in consumer base with the expansion of network operators coverage and the declining cost of smartphones, which makes them available for all income groups.

Key Lead-acid Battery Market Trend

Another key factor driving the lead-acid battery market growth is the growing need for eco- friendly vehicles. The rise in environmental concerns and the increase in GHG emissions globally have compelled nations to rethink the use of fossil fuels in the transportation sector. EVs have been identified as a possible replacement for fossil fuel-powered vehicles. Numerous countries are introducing targets and directives to moderate the shift from diesel and petrol vehicles to EVs in the automotive industry. Moreover, the criteria for the existing automobile manufacturers to expand their production capacity have been made stringent, which is eventually expected to channel investments to EV production in the country. Governments of several countries, such as China and the US, are framing objectives and offering monetary and non-monetary benefits to promote the sales of EVs. Lead-acid batteries are used in EVs for traction and start/stop applications. The high power output advantage, which is required for start/stop applications, and low cost compared with lithium-ion batteries, have rendered lead-acid batteries suitable for use in EVs. Therefore, the increasing government support for EVs will drive the demand for lead-acid batteries during the forecast period.

Key Lead-acid Battery Market Challenge

Declining costs of lithium-ion batteries is one of the key challenges hindering the lead-acid battery market growth. Lead-acid batteries are preferred to lithium-ion batteries mainly because of their low cost. In addition, lead-acid batteries can provide a high burst of instantaneous power required for cranking applications in automobiles. However, lithium-ion batteries offer several advantages over lead-acid batteries. Lithium-ion batteries are capable of offering superior performance owing to their advantages such as higher current density, longer power-holding capacity, and longer shelf life when compared with lead-acid batteries. Thus, they witness a high preference among end-users. The cost gap between the battery chemistries has declined rapidly during the past decade owing to the improved production scale and manufacturing efficiency. Owing to the decline in the manufacturing costs of lithium-ion batteries, the adoption of these batteries is increasing in all battery applications, which is affecting the demand for lead-acid batteries. As a result, the product offerings of vendors manufacturing lithium-ion batteries are becoming more competitive than substitute technologies such as lead-acid batteries. Therefore, cost reductions, coupled with the enhanced performance of lithium-ion batteries, will boost the sales of these batteries and, subsequently, hamper the growth of the global lead-acid battery market during the forecast period.

This 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 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 lead-acid battery market during the forecast period.

Who are the Major Lead-acid Battery Market Vendors?

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

  • Accumulatorenwerke HOPPECKE Carl Zoellner & Sohn GmbH
  • C&D Technologies Inc.
  • Clarios
  • East Penn Manufacturing Co. Inc.
  • EnerSys
  • Exide Industries Ltd.
  • Exide Technologies
  • GS Yuasa Corp.
  • Leoch International Technology Ltd.
  • Narada Power Source Co. Ltd.

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

Product Insights and News

  • Accumulatorenwerke HOPPECKE Carl Zoellner & Sohn GmbH- This company offers lead-acid battery named trak, uplift quadro.

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 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.

Lead-acid Battery Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the 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 report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.

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

Lead-acid Battery Market Market segmentation by region

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50% of the market's growth will originate from APAC during the forecast period. China and India are the key markets for lead-acid battery in APAC. Market growth in this region will be faster than the growth of the market in Europe and North America regions.

The lead-acid battery market in APAC will witness rapid growth during the forecast period, owing to the increased adoption of automobiles and an increase in the demand for ESSs for utility and motive applications, led by the growth of the regional material handling equipment market. 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

In 2020, the regional market witnessed a significant decline in revenue, owing to the outbreak of the COVID-19 pandemic. In addition, automotive sales dropped, which led to a decline in the demand for lead-acid batteries. However, in the last quarter of 2020, many countries in APAC lifted the restrictions on various businesses. The vendors were then able to resume their routine operations by adhering to the COVID-19 guidelines. Vendors mandated social distancing and restricted the entry of non-essential visitors at their facilities. In-person interactions in workplaces were limited, and daily temperature monitoring was mandated at the entry points. Such initiatives are expected to help vendors remain operational and allow the market to recover slowly during the forecast period. The easing of lockdown restrictions and the proliferation of vaccines are expected to promote the sales for automotive in APAC, which will drive the market in focus in the region during the forecast period.

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

Lead-acid Battery Market Segmentation

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The lead-acid battery market share growth by the automotive will be significant during the forecast period. The automotive segment includes lead-acid batteries (both OEM and replacement lead-acid batteries) that are used in passenger cars (both ICE vehicles and EVs), commercial vehicles, and two-wheelers. The automotive segment is expected to witness stable growth during the forecast period owing to the growing demand for automobiles, especially in emerging economies.

Besides the above-mentioned factors, the post COVID-19 impact has brought forth a slowdown in or fast tracked the demand for the service or product. This report provides an accurate prediction of the contribution of all the segments to the growth of the lead-acid battery market size and actionable market insights on post COVID-19 impact on each segment.

 

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 3%

Market growth 2021-2025

$ 6.33 billion

Market structure

Fragmented

YoY growth (%)

2.19

Regional analysis

APAC, Europe, North America, MEA, and South America

Performing market contribution

APAC at 50%

Key consumer countries

China, US, India, Japan, Germany, and UK

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

Accumulatorenwerke HOPPECKE Carl Zoellner & Sohn GmbH, C&D Technologies Inc., Clarios, East Penn Manufacturing Co. Inc., EnerSys, Exide Industries Ltd., Exide Technologies, GS Yuasa Corp., Leoch International Technology Ltd., and Narada Power Source 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

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

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive lead-acid battery market growth during the next five years
  • Precise estimation of the 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 lead-acid battery industry across APAC, Europe, North America, MEA, and South America
  • A thorough analysis of the market's competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of lead-acid battery market vendors

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1 Executive Summary

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 01: Parent market
    • Exhibit 02: Market characteristics
  • 2.2 Value chain analysis
    • Exhibit 03: Value chain analysis: Global renewable electricity market

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 04: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 05: Market segments
  • 3.3 Market size 2020
    • 3.4 Market outlook: Forecast for 2020 - 2025
      • Exhibit 06: Global - Market size and forecast 2020 - 2025 ($ billion)
      • Exhibit 07: Global market: Year-over-year growth 2020 - 2025 (%)

    4 Five Forces Analysis

    • 4.1 Five forces summary
      • Exhibit 08: Five forces analysis 2020 & 2025
    • 4.2 Bargaining power of buyers
      • Exhibit 09: Bargaining power of buyers
    • 4.3 Bargaining power of suppliers
      • Exhibit 10: Bargaining power of suppliers
    • 4.4 Threat of new entrants
      • Exhibit 11: Threat of new entrants
    • 4.5 Threat of substitutes
      • Exhibit 12: Threat of substitutes
    • 4.6 Threat of rivalry
      • Exhibit 13: Threat of rivalry
    • 4.7 Market condition
      • Exhibit 14: Market condition - Five forces 2020

    5 Market Segmentation by Application

    • 5.1 Market segments
      • Exhibit 15: Application - Market share 2020-2025 (%)
    • 5.2 Comparison by Application
      • Exhibit 16: Comparison by Application
    • 5.3 Automotive - Market size and forecast 2020-2025
      • Exhibit 17: Automotive - Market size and forecast 2020-2025 ($ billion)
      • Exhibit 18: Automotive - Year-over-year growth 2020-2025 (%)
    • 5.4 Stationary - Market size and forecast 2020-2025
      • Exhibit 19: Stationary - Market size and forecast 2020-2025 ($ billion)
      • Exhibit 20: Stationary - Year-over-year growth 2020-2025 (%)
    • 5.5 Motive - Market size and forecast 2020-2025
      • Exhibit 21: Motive - Market size and forecast 2020-2025 ($ billion)
      • Exhibit 22: Motive - Year-over-year growth 2020-2025 (%)
    • 5.6 Market opportunity by Application
      • Exhibit 23: Market opportunity by Application

    6 Segmentation by Product

    • 6.1 Segmentation by product

      7 Customer landscape

      • 7.1 Overview

        8 Geographic Landscape

        • 8.1 Geographic segmentation
          • 8.2 Geographic comparison
            • 8.3 APAC - Market size and forecast 2020-2025
              • 8.4 Europe - Market size and forecast 2020-2025
                • 8.5 North America - Market size and forecast 2020-2025
                  • 8.6 MEA - Market size and forecast 2020-2025
                    • 8.7 South America - Market size and forecast 2020-2025
                      • 8.8 Key leading countries
                        • 8.9 Market opportunity by geography

                          9 Drivers, Challenges, and Trends

                          • 9.1 Market drivers
                            • 9.2 Market challenges
                              • 9.3 Market trends

                                10 Vendor Landscape

                                • 10.1 Overview
                                  • 10.2 Landscape disruption

                                    11 Vendor Analysis

                                    • 11.1 Vendors covered
                                      • 11.2 Market positioning of vendors
                                        • 11.3 Accumulatorenwerke HOPPECKE Carl Zoellner & Sohn GmbH
                                          • 11.4 C&D Technologies Inc.
                                            • 11.5 Clarios
                                              • 11.6 East Penn Manufacturing Co. Inc.
                                                • 11.7 EnerSys
                                                  • 11.8 Exide Industries Ltd.
                                                    • 11.9 Exide Technologies
                                                      • 11.10 GS Yuasa Corp.
                                                        • 11.11 Leoch International Technology Ltd.
                                                          • 11.12 Narada Power Source Co. Ltd.

                                                            12 Appendix

                                                            • 12.1 Scope of the report
                                                              • 12.2 Currency conversion rates for US$
                                                                • 12.3 Research methodology
                                                                  • 12.4 List of abbreviations

                                                                    Research Framework

                                                                    Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

                                                                    TechnavioINFORMATION SOURCES

                                                                    Primary sources

                                                                    • Manufacturers and suppliers
                                                                    • Channel partners
                                                                    • Industry experts
                                                                    • Strategic decision makers

                                                                    Secondary sources

                                                                    • Industry journals and periodicals
                                                                    • Government data
                                                                    • Financial reports of key industry players
                                                                    • Historical data
                                                                    • Press releases
                                                                    Technavio

                                                                    TechnavioDATA ANALYSIS

                                                                    Data Synthesis

                                                                    • Collation of data
                                                                    • Estimation of key figures
                                                                    • Analysis of derived insights

                                                                    Data Validation

                                                                    • Triangulation with data models
                                                                    • Reference against proprietary databases
                                                                    • Corroboration with industry experts
                                                                    Technavio

                                                                    TechnavioREPORT WRITING

                                                                    Qualitative

                                                                    • Market drivers
                                                                    • Market challenges
                                                                    • Market trends
                                                                    • Five forces analysis

                                                                    Quantitative

                                                                    • Market size and forecast
                                                                    • Market segmentation
                                                                    • Geographical insights
                                                                    • Competitive landscape
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                                                                    Lead-acid Battery Market market growth will increase by $6.33 bn during 2021-2025.
                                                                    The lead-acid battery market market is expected to grow at a CAGR of 2.91% during 2021-2025.
                                                                    Technavio has segmented the lead-acid battery market market by application (Automotive, Stationary, and Motive) and geographic (APAC, Europe, North America, MEA, South America, APAC, Europe, North America, MEA, and South America).
                                                                    Accumulatorenwerke HOPPECKE Carl Zoellner & Sohn GmbH, C&D Technologies Inc., Clarios, East Penn Manufacturing Co. Inc., EnerSys, Exide Industries Ltd., Exide Technologies, GS Yuasa Corp., Leoch International Technology Ltd., Narada Power Source Co. Ltd. are a few of the key vendors in the lead-acid battery market market.
                                                                    APAC will register the highest growth rate of 50% among the other regions. Therefore, the lead-acid battery market market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
                                                                    The key factors driving the lead-acid battery market market growth are:
                                                                    • Growth in demand for industrial applications
                                                                    • Growing need for eco- friendly vehicles
                                                                    The lead-acid battery market market vendors should focus on grabbing business opportunities from the automotive segment as it accounted for the largest market share in the base year.
                                                                    • What are the key global market and the regional market share?
                                                                    • What are the revenue-generating key market segments?
                                                                    • What are the key factors driving and challenging this market’s growth?
                                                                    • Who are the key market vendors and their growth strategies?
                                                                    • What are the latest trends influencing the growth of this market?
                                                                    • What are the variables influencing the market growth in the primary regions?
                                                                    • What are the factors influencing the growth of the parent market?
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                                                                    • Covid-19 impact and recovery analysis
                                                                    • Data on revenue-generating market segments
                                                                    • Details on the market shares of various regions
                                                                    • Five-force market analysis

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