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Introduction and rapid acceptance of smart battery will continue to fuel the growth of
the market for lead acid battery. The global market for lead acid battery registered the
revenues of around US$ 46.8 Bn in 2015, which are likely to climb up by 2016 end.
Applications in the transportation industry are expected to attract the highest sales
revenues, whereas APAC will remain the largest market registering the maximum
consumption of the lead acid battery.
Rising demand for electric or battery-operated vehicles is generating a discernible
level of demand for battery on a global level, especially in developed regions.
Consumption of lead acid batteries by manufacturers of two-wheelers, passenger
cars, heavy transportation vehicles, and commercial carriers is anticipated to sustain
the demand for lead acid battery on a global level. Exploding industrialization and
urbanization in developing countries have been fuelling the need for UPS as a reliable
source of uninterrupted power, which is foreseen to remain a key factor pushing the
battery market growth. Expansion of consumer electronics market is further boosting
lead acid battery consumption.
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A growing trend of consumer preference for extended battery life will further add to
the smart battery market. Developing markets in China, India, and other emerging
economies are rapidly adopting grid storage technology since the past decade. This
will be another major driver escalating the market growth. Technological
advancements in vehicle technology, such as the hybrid vehicle, battery-operated
vehicle, or electric vehicle, will be some more strong factors bolstering the market
growth. Innovations such as smart battery have been trending in the market since the
recent past, which is expected to accelerate the market growth.However, highly
volatile raw material prices and evolving lead emission standards may hamper the
market growth. Moreover, relatively higher battery weight and lower energy density
will remain longstanding challenges to widespread adoption.
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On the basis of application, the global market for a lead acid battery is classified into
seven key segments viz. transportation, stationary industrial, motive industrial,
stationary industrial, commercial, residential, and grid storage. Transportation has
been a major segment, expected to remain dominant over 2015-2020, accounting for
the maximum revenues through to 2020. The stationary industrial segment, which is
the second largest segment, will account for over 18% share of the total market
revenues. This segment is expected to register significant growth at a CAGR of 8.6%
during 2015-2020. Grid storage although the smallest segment is foreseen to witness
robust growth during this period. This growth is primarily attributed to growing
adoption of lead battery in developing economies for grid storage application. By
region, the global market for a lead acid battery is segmented into five key regions.
APAC is predicted to remain a major revenue shareholder, possibly exceed a value of
US$ 24.0 Bn in 2020. Europe is expected to register a market share of around 24% by
2020 end, with over 24% market share. Europe will, however, expand at a higher
CAGR compared to APAC.
Exide Technologies, Johnson Controls Inc., EnerSys, and GS Yuasa Corporation are a
few of the key players operating in the global lead acid battery market.
Long-term Outlook: By 2020 end, the global lead acid battery market is likely to hit
a value worth US$ 58.55 Bn. The estimated CAGR over 2014-2020 is 4.6%.
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