Advanced Lead Acid Battery Market Size To Increase 48.9 Bn By 2030


16 Jun 2023

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The global advanced lead acid battery market size exhibited USD 25.69 billion in 2022 and is projected to increase USD 48.9 billion by 2030, poised to grow at a strong CAGR of 8.38 percent during the projection period from 2022 to 2030.

Advanced Lead Acid Battery Market Size and Growth Rate From 2023 To 2032

Report Highlights:

  • On the basis of the type of the advanced lead acid battery, the stationery segment is expected to have the largest market growth during the forecast period. These batteries are majorly used in standby power supply in telecommunications, hospitals and other industries. Growth in the telecommunications sector and rapid industrialization across many countries is creating a great demand for this segment.
  • The VRLA advanced lead acid battery on the basis of the construction method has the largest market share. The VRLA batteries are in great demand as they do not have any maintenance requirements.
  • Advanced lead acid batteries are extremely cost-effective and reliable solutions for battery storage. The utilities sector has a great demand for advanced lead acid batteries due to a growth in the consumption of power.

Regional Snapshots:

The Asia Pacific region had the largest market share in recent years. This Market is expected to have a good market share in terms of value in the coming years. The increasing population in this region leads to an increased demand for energy. The government of various nations like India China Japan or taking initiatives in order to curb the adverse effects of the energy sector on the environment. Also, a greater need is created for the storage of energy in the battery systems to fulfill the demands of the energy which is required in the future.

They shall be extremely useful for the future instead of generating energy by burning various fossil fuels. Storage of energy is extremely advisable in order to curb the emission of greenhouse gases into the environment by the burning of fossil fuels. There is an increase in the deployment of battery energy storage systems in the public as well as the residential utility applications across the Asia Pacific nations. This increased demand across various utility sectors is expected to drive the market in the Asia Pacific region.

Advanced Lead Acid Battery Market Report Scope:

Report Coverage Details
Market Revenue in 2023 USD 27.84 Billion
Projected Forecast Revenue in 2030 USD 48.9 Billion
Growth Rate from 2022 to 2030 CAGR of 8.38%
Largest Market North America
Base Year 2022
Forecast Period 2022 To 2030
Regions Covered North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa


Market Dynamics:

Drivers:

The advanced lead acid batteries can be easily recycled compared to the lithium-ion batteries and this happens to be a major driving factor for the growth of this market. The decomposition process of these batteries is less cumbersome compared to any other battery storage system. The recycling of these batteries is carried out by way of two methods. Initially, there is neutralization of the acid which is used in the battery with the help of an industrial chemical per compound. Which helps in turning the acid in the battery into water.

In order to bring the standard of this water to the clean water that is treated in the wastewater treatment plant. In the other method the acid can also be converted to something called as sodium sulfate it is an extremely odorless white powder that is used as a laundry detergent in the business of glass and textile manufacturing. These methods ensure that the old batteries are completely recycled hence this happens to be the major driving factor for the growth of this market.

Restraints:

Advanced lead-acid batteries could cause serious injuries if they are not handled properly. These batteries can conduct electric charge at an extremely high rate. The various gases that are released during the working of these batteries are extremely flammable and can be ignited easily. They can result in serious explosions. The use of sulfuric acid in lead acid batteries can cause severe injuries as it is extremely corrosive in case it comes in contact with the skin.

These batteries need to be handled with care by the people operating the battery as it could cause significant damage in case it is filled. Advanced lead acid batteries need to be handled with extra care and due to all of these significant dangers when handling this battery, the growth of this product is restrained.

Opportunity:

In case of power disruptions and inconsistencies in data centers, a lot of inconvenience is caused. There's a growing demand for battery storage in these data centers in order to avoid these problems. The Advanced lead acid batteries are extremely helpful in these data centers as it provides a backup for these industries. As the increased installation of data centers across the world, the demand for battery storage in these data centers is also growing rapidly. The data handling capacity is also expected to increase in the forecast period.

Challenges:

Advanced lead acid batteries have a limited usage capability. A maximum of 50% of the capacity of the lead acid battery is used. Even if occasionally the batteries are drained more than this 50% capacity the battery life will be reduced drastically. These batteries have a limited life cycle. One has to be careful to never over drain these battery cells. So, the major challenge in the usage of advanced lead acid batteries is its limited usage.

Recent Developments:

  • Kolkata Discom CESC partnered with Exide in January 2021 over a grid-connected 315 KWh battery energy storage system at low tension distribution system. This is the first of its kind initiative at a large scale in West Bengal. It is located in Kankurgachi, Kolkata.
  • EnergySys invested U.S. dollars 100 million in new capital in June 2019. In the next three years, it was expected to expand the thin plate pure Lead capacity.

Major Key Players:

  • HOPPECKE Batterien
  • Hitachi Chemical Energy Technology
  • Crown Battery
  • East Penn Manufacturing
  • Exide, EnerSys
  • HOPPECKE Batterien
  • GS Yuasa
  • Leoch
  • Narada Power Source
  • Furukawa Battery
  • Ritar Power
  • Amara Raja
  • Trojan
  • Coslight

Market Segmentation:

By Type

  • Stationary 
  • Motive

By Construction Method

  • Flooded
  • VRLA
  • Others

By End User

  • Automotive and Transportation
  • Energy and Power
  • Industrial
  • Commercial
  • Others

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