Our comprehensive research on the Advanced Lead-Acid Battery Market (2023-2031) provides insights for businesses. It covers trends, investments, tech advancements, and major players. The report uses qualitative and statistical data from 2017-2031, including SWOT, BCG, PESTLE analysis, and visuals. It offers a full market landscape with stakeholder insights, regional outlooks, and financial considerations.
The global advanced lead-acid battery market size was US$ 21.9 billion in 2021. The global advanced lead-acid battery market is forecast to grow to US$ 39.1 billion by 2030 by registering a compound annual growth rate (CAGR) of 6.5% during the forecast period from 2022 to 2030.
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COVID-19 Impact Analysis
Global industries have been impacted by the COVID-19 epidemic, and investments have significantly decreased in the lead-acid battery sector. The shortage of labor, logistical constraints, raw-material scarcity, etc., were the major factors impeding the market growth. The effect of the pandemic remained longer than expected, forcing governments to impose stringent regulations. Thus, factories were also closed as a result of this. As a result, the market for advanced lead-acid batteries recorded a dramatic fall.
Factors Influencing the Market
The benefits of advanced lead-acid batteries are primarily driving the demand and is expected to fuel the growth of the market during the study period. For instance, these batteries are easier to recycle as compared to lithium-ion batteries.
The vital applications of an advanced lead-acid battery in the automotive sector and the strengthening automobile industry are expected to offer lucrative growth opportunities for the advanced lead-acid battery market during the study period.
Rising demand to minimize vehicle emissions and the world’s carbon footprint is projected to bring untapped potential opportunities for the market. Apart from that, growing R&D is expected to boost market growth. For instance, EnerSys and Blink Charging Co. inked a pact in July 2020 with the aim to simplify and expedite the production of high-power wireless and DC fast charging systems with built-in battery storage for the automotive and transportation industries.
Regional Analysis
The Asia-Pacific advanced lead-acid battery market is forecast to record a significant growth rate. The growth of the market is attributed to the strengthening automotive and power sector in countries like China, Japan, India, and South Korea. Further, rising urbanization and industrialization are driving the demand for electricity in the region, which is expected to bring potential opportunities for market growth during the study period.
Governments are focusing on minimizing the detrimental consequences of the energy sector on the environment. As a result, it will offer several opportunities for the advanced lead-acid battery market during the forecast period.
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Competitors in the Market
• Amara Raja
• Chaowei Power Holdings Limited
• Coslight Technology International Group Co., Ltd.
• Crown Battery
• East Penn Manufacturing
• Enersys
• Exide Industries Ltd
• Furukawa Battery Co., Ltd
• GS Yuasa International Ltd
• Hitachi Chemical Energy Technology
• Leoch International Technology Limited Inc
• Midac Batteries S.P.A.
• Narada Power
• Tianneng Group
• Trojan Battery Company
• Other Prominent Players
The report furnishes an intricate comprehension of each segment, delivering potential estimations for principal applications and insights into emerging prospects. Every regional market is meticulously scrutinized to ascertain its potential for growth, development, and demand in the forthcoming years.
As of the end of 2022, the Advanced Lead-Acid Battery industry experienced notable growth in its workforce. Starting in January, employment within the Advanced Lead-Acid Battery sector exceeded its pre-COVID levels, resulting in an expansion of payrolls by over 15,000 employees throughout the course of the year. The global Advanced Lead-Acid Battery output demonstrated a remarkable increase of 5.2% during 2021, primarily attributed to a widespread economic upswing and a surge in demand for commodities. However, the momentum shifted in 2022, with the global industrial sector’s production contracting. This reversal followed a robust expansion in 2021, fueled by altered consumer spending patterns and substantial fiscal support.
Forecasts indicate that the global Advanced Lead-Acid Battery output is set to rise by approximately 2.9% in 2023. This projection is underpinned by the gradual recovery of production in Western Europe from its previous troughs, as well as a rebound in output across the Asia/Pacific region. Maintaining its dominant position, China, accounting for nearly 45% of the global Advanced Lead-Acid Battery market, remains both its largest producer and consumer. Remarkably, China’s market share has surged since 2010, when it stood at around 26%. This ascent has led to a substantial contribution to the nation’s GDP. Notably excelling as a top exporter, China leads in various sectors, including silicon, PVC, and several specific segments of the Advanced Lead-Acid Battery market.
Market Segmentation
The global advanced lead-acid battery market segmentation focuses on Type, Construction Method, End-Use Industry, and Region.
By Type
• Motive
• Stationary
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By Construction Method
• Valve Regulated Lead Acid (VRLA) Battery
• Flooded Battery
• Others
By End-Use Industry
• Automotive and Transportation
• Energy and Power
• Industrial
• Residential
• Commercial
• Others
By Region
● North America
o The U.S.
o Canada
o Mexico
● Europe
▪ Western Europe
o The UK
o Germany
o France
o Italy
o Spain
o Rest of Western Europe
▪ Eastern Europe
o Poland
o Russia
o Rest of Eastern Europe
● Asia Pacific
o China
o India
o Japan
o Australia & New Zealand
o ASEAN
o Rest of Asia Pacific
● Middle East & Africa (MEA)
o UAE
o Saudi Arabia
o South Africa
o Rest of MEA
● South America
o Brazil
o Argentina
o Rest of South America
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Table of Contents:
Chapter 1: Introduction to the Global Advanced Lead-Acid Battery Industry
Chapter 3: Dynamics of the Market
Chapter 4: Profiles of Leading Companies
Chapter 5: Competition in the Global Advanced Lead-Acid Battery Market among Players
Chapter 6: Market Size across Global Regions
Chapter 7: Application Segments in the Global Market
Chapter 8: Segment Analysis of the Global Advanced Lead-Acid Battery Industry
Chapter 9: Market Chain, Sourcing Strategies, and Downstream Buyers
Chapter 10: Strategies and Key Policies by Distributors/Suppliers/Traders
Chapter 11: In-depth Analysis of Key Marketing Strategies by Market Vendors
Chapter 12: Evaluation of Market Impact Factors
Chapter 13: Forecasted Global Advanced Lead-Acid Battery Market Size (2023-2031)
Reasons to Acquire This Report
(A) This research imparts invaluable insights tailored for senior management, policymakers, industry professionals, product innovators, sales executives, and stakeholders within the market. It equips them with the information needed to make well-informed decisions and craft effective strategies.
(B) The report delivers a comprehensive analysis of global, regional, and country-level Advanced Lead-Acid Battery market revenues, extending projections until 2030. This dataset empowers companies to gauge their market presence, recognize avenues for growth, and explore emerging markets.
(C) Through meticulous segmentation of the Advanced Lead-Acid Battery market encompassing types, applications, technologies, and end-uses, this study empowers leaders to blueprint their products and allocate resources based on the projected growth trajectories of each segment.
(D) Investors stand to gain from the market analysis by gaining insights into market scope, positioning, key drivers, challenges, limitations, expansion prospects, and potential risks. Armed with this knowledge, they can make well-considered investment choices.
(E) The report conducts an intricate analysis of competitors, unraveling their pivotal strategies and market positioning. This intelligence equips businesses with a profound understanding of the competitive landscape, enabling them to chart their own strategies accordingly.
(F) The study facilitates the assessment of Advanced Lead-Acid Battery business projections delineated by region, key countries, and prominent companies, bestowing invaluable information for investment strategizing and decision-making.
Why is our study consequential?
Our study holds paramount importance for various reasons, a few of which include:
• Assisting businesses in gauging the viability of new or existing products or services.
• Facilitating business enterprises in the identification and cultivation of novel market segments.
• Providing a preemptive understanding of consumer demand prior to introducing new products, services, or features.
• Enhancing the overall efficacy of marketing, advertising, and promotional initiatives.
• Analyzing market trends to aid businesses in devising adaptive strategies.
• Guiding businesses in the optimal placement of their products.
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