Motive Lead-Acid Battery Market by Battery type, and Geography - Forecast and Analysis 2020-2024

The motive lead-acid battery market size has the potential to grow by USD 2.21 billion during 2020-2024, and the market’s growth momentum will accelerate during the forecast period.

This report provides a detailed analysis of the market by battery type (VRLA and FLA) and geography (APAC, EMEA, and Americas). Also, 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., and Narada Power Source Co. Ltd.

Market Overview

Market Competitive Analysis

The market is fragmented, and the degree of fragmentation will remain the same during the forecast period. Exide Industries Ltd., Exide Technologies, GS Yuasa Corp., Leoch International Technology Ltd., and Narada Power Source Co. Ltd. are some of the major market participants. Although the growing demand for electric forklifts will offer immense growth opportunities, increasing competition from lithium-ion batteries will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

To help clients improve their market position, this motive lead-acid battery market forecast report provides a detailed analysis of the market leaders and offers information on the competencies and capacities of these companies. The report also covers details on the market’s competitive landscape and offers information on the products offered by various companies. Moreover, this motive lead-acid battery market analysis report also provides information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.

This report provides information on the production, sustainability, and prospects of several leading companies, 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.

Motive Lead-Acid Battery Market: Segmentation by Region

APAC was the largest motive lead-acid battery market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. Increased consumption of lead-acid batteries in motive applications and a rise in the number of warehouses will significantly influence motive lead-acid battery market growth in this region.

60% of the market’s growth will originate from APAC during the forecast period. China and Japan are the key markets for motive lead-acid batteries in APAC. Market growth in this region will be faster than the growth of the market in other regions.

Motive Lead-Acid Battery Market: Segmentation by Battery Type

The easier operation of VRLA batteries in vivid temperature ranges, along with low maintenance and a wide range offered by vendors, are boosting the growth of VRLA batteries. Market growth in this segment will be faster than the growth of the market in the HLA segment. This report provides an accurate prediction of the contribution of all the segments to the growth of the motive lead-acid battery market size.

Motive Lead-Acid Battery Market: Key Drivers and Trends

The growing demand for forklifts is a major factor that will drive the motive lead-acid battery market growth in the coming years. Globally, the increase in industrial and manufacturing activities have led to expansion of warehouse spaces and demand for forklifts. Electric forklifts are most prominent in the market due to their low emission and noise levels, longer life span, and elimination of fuel costs. They are being used across mechanical, automotive, food and beverage, logistics, chemical, retail, and wholesale industries. Majority of electric forklifts are powered by lead-acid batteries because they are cost-effective, offer high resilience in harsh environmental conditions involving dirt, chemicals and vibration. Other benefits of lead-acid batteries include lesser maintenance, no fluctuations in replacement costs, and maximum efficiency through advanced charging technologies. With bulk investments in the procurement of forklifts from emerging markets, there is a significant growth in the demand for motive lead-acid batteries, thereby driving market growth.

• The growing use of batteries in various applications has increased the number of batteries reaching their end-of-life, necessitating battery recycling initiatives by several governments, and is a major trend in the motive lead-acid battery market.
•  Australian Battery Recycling Initiative (ABRI), established in 2008, comprising of battery manufacturers, recyclers, retailers, government bodies, and environment groups, and promotes the collection, recycling, and safe disposal of batteries.
• The department of energy in the US established ReCell Lithium Battery Recycling R&D center that focuses on cost-effective recycling processes to recover lithium battery critical materials.  
• Recycling techniques need to have economic and environmental value to be viable. The emerging concepts of direct recycling along with second-use applications can prolong the life of spent batteries and can see a boost in adoption during the forecast period.

Motive Lead-Acid Battery Market: Key Highlights of the Report for the Forecast Period 2020-2024

• CAGR of the market during the forecast period 2020-2024
• Detailed information on factors that will drive motive lead-acid battery market growth during the next five years
• Precise estimation of the motive 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 motive lead-acid battery market industry across APAC, EMEA, and Americas
• A thorough analysis of the market’s competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of motive lead-acid battery market vendors