The global lead acid battery market Growth Accelerated by Adoption of Renewable Energy Storage System


Lead acid batteries are widely used storage devices for reserve energy to power electric vehicles, solar home systems, and backup power systems. Some key advantages of lead acid batteries include cost effectiveness, reliability, and recyclability.

The global lead acid battery market is estimated to be valued at US$ 64.07 Mn in 2024 and is expected to exhibit a CAGR of 3.0% over the forecast period 2024-2031, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

The adoption rate of renewable energy sources like solar and wind energy has increased significantly in the past few years. However, one of the challenges faced with renewable energy is the intermittent nature of the sources. Energy storage helps address this issue by storing the energy generated from renewable sources that can be utilized when the source is unavailable. Lead acid batteries are increasingly being used for energy storage applications in residential, commercial, and utility-scale projects involving renewable energy. This is a key trend driving the growth of the lead acid battery market. Battery manufacturers are also developing advanced lead acid batteries with higher cycle life and better thermal stability to further improve the energy storage capacity from renewable sources.


Segment Analysis
The global lead acid battery market size is dominated by the transportation segment. Within transportation, the automotive sub-segment accounts for the major share due to high usage of lead acid batteries in vehicles for starting, lighting and ignition purposes. Passenger cars dominate the automotive sub-segment as they use more than one lead acid battery to power their electrical systems. Other transportation sub-segments like motorcycles and commercial vehicles also contribute significantly to the overall lead acid battery market owing to their high and growing demand.

Key Takeaways
The global lead acid battery market is expected to witness high growth at a CAGR of 3.0% during the forecast period of 2024-2031. The market size is estimated to reach US$ 64.07 Mn by 2024.

Regional analysis
Asia Pacific dominates the global lead acid battery market currently. China, India and Japan are the fastest growing countries in the region. The presence of a large automotive industry and low-cost manufacturing are driving the demand for lead acid batteries in the Asia Pacific region. North America and Europe are other major markets owing to the developed transportation and automotive sectors.

Key players
Key players operating in the lead acid battery market are Sun Pharma, UCB Farchim SA, Yangtze River Pharmaceutical (Group) Co., Ltd., Livzon Pharmaceutical Group Inc., Nanjing Sanhome Pharmaceutical Co.,Ltd., PKU Healthcare Corp., Ltd., Qilu Pharmaceutical Co., Ltd., Jilin Huakang Pharmaceutical Co., Ltd., Sichuan Hengrui Pharmaceutical Co., Ltd., Shaixi Taiyuan Pharmaceutical Co., Ltd., Guangdong Guoyuan Sinopharm Co., Ltd., Suzhou Dawnrays Pharmaceutical Co., Ltd., Zhejiang Zhebei Pharmaceutical Co., Ltd., Nanjing Chang'ao Pharmaceutical Co., Ltd., Xinhua Pharmaceutical (Gaomi) Co., Ltd..

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