DUBLIN, Sept. 22, 2023 /PRNewswire/ — The “Global 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 – Forecast to 2028” report has been added to ResearchAndMarkets.com’s offering.
The global automotive lead acid batteries market is projected to grow from USD 27.8 billion in 2023 to USD 34 billion by 2028, at a CAGR of 4.2%.
The report presents a meticulous analysis of critical battery segments, highlighting the significance of micro hybrid and VRLA batteries, both of which have captured substantial market shares.
A special focus is placed on their extensive application in both light and heavy commercial vehicles, with a predominant reliance on lead acid batteries. Furthermore, we delve into the market landscape across specific geographical regions, with North America emerging as a prominent player with a substantial market share.
Automotive lead acid batteries represent a specialized category of rechargeable batteries meticulously engineered for vehicular applications. These batteries find widespread use in automobiles, motorcycles, trucks, and various other vehicles, owing to their reputation for reliability, cost-effectiveness, and the capability to deliver robust currents, essential for igniting engines and powering electrical systems.
The automotive lead acid batteries market has demonstrated consistent growth over the years. Despite the emergence of alternative battery technologies, notably lithium-ion batteries, which have exerted some influence on the market, lead acid batteries continue to hold sway in the automotive sector. Their dominance is particularly pronounced in critical applications such as starting, lighting, and ignition (SLI) systems.
The report also conducts a comprehensive evaluation of market dynamics, including market shares, growth strategies, and service offerings, with a particular focus on key industry players such as Clarios (US), EnerSys (US), East Penn Manufacturing Company (US), GS Yuasa Corporation (Japan), and Exide Industries Ltd. (India), among others, within the automotive lead acid batteries market.
By product, micro hybrid batteries segment accounted for the second-largest share in automotive lead acid batteries market in 2022
The micro hybrid batteries segment held the second-largest share in 2022. The growth of this segment can be attributed to the requirement of start-stop systems in the automotive sector due to the rising need for improved fuel efficiency and emissions regulations.
By automatically shutting off the engine during idle periods, micro hybrid vehicles consume less fuel and emit fewer pollutants. Thus, adoption of start-stop technology is driving the demand for micro hybrid batteries in automotive lead acid batteries market.
By type, the VRLA batteries segment accounted for the largest share in automotive lead acid batteries market in 2022
The VRLA batteries segment held the largest share in 2022. VRLA batteries are utilized in auxiliary power units, which are secondary power sources in vehicles. APUs are often used in heavy-duty trucks, recreational vehicles (RVs), and commercial vehicles to power various electrical systems, such as air conditioning, heating, and onboard electronics, when the main engine is turned off.
VRLA batteries are known for their durability and reliability, making them suitable for the demanding operating conditions of automotive. These factors further propel the demand for automotive lead acid batteries market.
By end-use, the light & heavy commercial vehicles segment accounted for the second-largest share in automotive lead acid batteries in 2022
Lead-acid batteries play a crucial role in light & heavy commercial vehicles by providing the necessary power for starting the large diesel engines commonly found in trucks, buses, and other heavy-duty vehicles. They are also responsible for powering the electrical systems in light & heavy commercial vehicles, including lighting, signaling, and auxiliary equipment. Thus, lead acid batteries have been widely used in commercial vehicles.
The automotive lead acid batteries market in North America accounted for the second-largest share in 2022
Start-stop systems, which automatically shut off and restart the engine to save fuel and reduce emissions, have become more prevalent in North America. Lead-acid batteries have been the primary choice for these systems due to their affordability and ability to handle the high current demands of frequent engine starts. The growth of start-stop systems has positively influenced the automotive lead-acid batteries market.
Premium Insights
- Automotive Lead Acid Batteries Market Driven by Rapid Expansion of Automotive Industry
- Asia-Pacific Segment to Account for Largest Share During Forecast Period
- SLI Batteries Segment Held Larger Market Share in 2022
- VRLA Batteries Segment to Hold Larger Market Share During Forecast Period
- Three Wheelers Segment to Register Highest CAGR During Forecast Period
- Aftermarket Segment Held Larger Market Share in 2022
Market Dynamics
Drivers
- Well-Established Technology and Cost-Effective Energy Solutions
- Easily Recyclable Compared with Lithium-Ion Batteries
Restraints
- Risk of Battery Explosion due to Overcharging
- Increasing Adoption of Lithium-Ion Batteries
Opportunities
- Technological Advancements to Enhance Durability
Challenges
- Limited Capacity of Lead Acid Batteries
Value Chain Analysis
- Ecosystem Mapping
- Regulatory Landscape
Company Profiles
Key Players
- Clarios
- EnerSys
- East Penn Manufacturing Company
- GS Yuasa International Ltd.
- Exide Industries Ltd.
- C&D Technologies, Inc.
- Camel Group Co. Ltd.
- Tianneng
- Reem Batteries
- CSB Energy Technology Co. Ltd.
- Century Batteries Indonesia
- Leoch International Technology Limited Inc.
- Robert Bosch GmbH
- Stryten Energy
- Exide Technologies
Other Companies
- Mebco
- Tai Mao Battery Co. Ltd.
- Koyo Battery Co. Ltd.
- Ritar International Group
For more information about this report visit https://www.researchandmarkets.com/r/10l10x
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SOURCE Research and Markets
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