According to the report, the global lead-acid battery industry generated $39.7 billion in 2018, and is estimated to generate $59.7 billion by 2026, registering a CAGR of 5.24% from 2019 to 2026. The report offers a comprehensive analysis of the Industry dynamics, key market segments, market trends and estimations, top investment pockets, and competitive landscape.
Cost efficient energy storage solutions and recyclable nature of lead-acid batteries over lithium-ion batteries propel the growth of global lead-acid battery market. However, emerging and existing alternatives to this type of battery limit the growth to certain extent. However, the requirement for expanding data centers offers new opportunities to the market.
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The global lead–acid battery market is segmented on the basis of product, construction method, application, and region. Based on product, the market is segmented into SLI, stationary, and motive. The SLI segment contributed to more than half of the total share of the global lead-acid battery market in 2018, and is expected to maintain its dominant position during the forecast period. However, the stationary segment is estimated to maintain the largest CAGR of 5.7% from 2019 to 2026.
Based on application, the market is divided into automotive, UPS, telecom, and others. The automotive segment held the highest share of the global lead-acid battery market, holding nearly three-fifths of the total market in 2018, and is projected to maintain its lead position throughout the forecast period. However, the UPS segment is expected to grow at the highest CAGR of 5.9% from 2019 to 2026.
The automotive sector held the highest share of the global lead-acid battery market, holding nearly three-fifths of the total market in 2018, and is projected to maintain its lead position throughout the forecast period. This is attributed to application of lead-acid batteries for their robust and low-cost nature along with need for cost-effective energy solutions. However, the UPS segment is expected to grow at the highest CAGR of 5.9% from 2019 to 2026, owing to rise in demand for UPS system for its high performance, appropriate designing, and usage as an emergency power backup.
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Based on region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Europe is estimated to witness the highest CAGR of 5.7% from 2019 to 2026. On the other hand, Asia-Pacific held the largest market share in terms of revenue, contributing to nearly two-fifths of the global lead-acid battery market in 2018, and is estimated to maintain its leadership position in terms of revenue by 2026.
The key players analyzed in the report include Crown Battery, East Penn, HOPPECKE, NorthStar, EnerSys, Exide Industries, Hitachi Chemical, Hankook AltasBX, C&D Technologies, and Teledyne Technologies.
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