The report “Global Lead-Acid Battery Market, By Type; By Application; By Region – Market Size, Industry Dynamics, Opportunity Analysis, and Forecast for 2024-2030” has been added to ResearchAndMarkets.com’s offerings. The global lead-acid battery market is projected to grow significantly, increasing from a valuation of US$49.3 billion in 2023 to an estimated US$77.88 billion by 2030.
This growth corresponds to a robust compound annual growth rate (CAGR) of 6.99%. The expansion is driven by the cost-effectiveness of lead-acid batteries and their extensive use across multiple industries, including off-grid solar systems, automotive, and telecommunications. These batteries continue to be a popular choice, especially in specialized markets where their proven reliability combines with economical energy solutions.
Segmental Insights and Regional Dominance
Within the market, the Flooded Battery segment stands out for its reliability and currently leads in type categorization. Meanwhile, VRLA batteries are expected to experience notable growth. In terms of application, automotive starters are the dominant segment, emphasizing the essential role of lead-acid batteries in vehicle operation. Regionally, the Asia Pacific region leads the market share due to rapid industrial development and growing automotive production and is forecasted to maintain the highest growth rate. The market’s competitive landscape is shaped by key players focusing on innovation and strategic expansion to strengthen their market positions.
Market Outlook and Challenges
The lead-acid battery market is poised for significant growth, driven by strong demand across various applications that highlight the practicality and versatility of these batteries. However, the introduction of more cost-effective alternatives in the energy storage market presents potential challenges to this growth. The market’s future will depend on its ability to adapt and innovate in response to these emerging challenges, with leading companies needing to make strategic adjustments to maintain their positions.
