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Written by rockyrai » Updated on: November 19th, 2024
IMARC Group's report titled " Automotive Lead-Acid Battery Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032", offers a comprehensive analysis of the industry, which comprises insights on the global automotive lead-acid battery market trends. The global market size reached US$ 13.3 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 16.3 Billion by 2032, exhibiting a growth rate (CAGR) of 2.2% during 2024-2032.
For an in-depth analysis, you can refer sample copy of the report: https://www.imarcgroup.com/automotive-lead-acid-battery-market/requestsample
Factors Affecting the Growth of the Automotive Lead-acid Battery Industry:
Original equipment manufacturers (OEMs) are major consumers of lead-acid batteries. As vehicle production is increasing, the demand for batteries to power these vehicles is rising. OEMs require reliable and cost-effective battery solutions to meet the power needs of the vehicles they manufacture. The automotive industry is one of the largest manufacturing sectors around the world. When there is an upswing in vehicle production due to factors like economic growth, consumer demand, or new market entries, it directly results in higher demand for lead-acid batteries.
Lead-acid batteries are known for their high recyclability rate, as the recycling process for lead-acid batteries is well-established and efficient. This recyclability reduces the environmental impact of these batteries and aligns with eco-friendly objectives to minimize waste. Various regions and countries have regulations to ensure the proper disposal and recycling of lead-acid batteries. Compliance with these regulations is essential for battery manufacturers and users, reinforcing the eco-friendly aspect of lead-acid battery management. The concept of a circular economy, where products and materials are reused and recycled to reduce resource consumption, resonates with the lead-acid battery industry.
Technological advancements are leading to the development of advanced lead-acid battery designs. These designs can include improvements in electrode materials, separator materials, and overall battery construction. Enhanced designs can result in higher energy density, longer cycle life, and better overall performance. Absorbent glass mat (AGM) and gel battery technologies are examples of advancements within the lead-acid battery category. These technologies offer advantages, such as improved resistance to vibration and deep cycling, making them suitable for applications like start-stop systems in vehicles.
Leading Companies Operating in the Global Automotive Lead-Acid Battery Industry:
Automotive Lead-acid Battery Market Report Segmentation:
By Vehicle Type:
Commercial vehicles represented the largest segment due to their higher power requirements and the need for reliable, cost-effective batteries in applications, such as trucks, buses, and heavy-duty vehicles.
By Product:
SLI batteries accounted for the largest market share as they are essential for starting, lighting, and ignition functions in both passenger cars and commercial vehicles.
By Type:
Flooded batteries exhibit a clear dominance in the market on account of their established presence, cost-effectiveness, and suitability for a wide range of automotive applications.
By Customer Segment:
OEM holds the biggest market share as it is the primary consumer of lead-acid batteries for new vehicle production.
Regional Insights:
Asia Pacific enjoys the leading position in the automotive lead-acid battery market. This can be accredited to its robust automotive manufacturing industry, especially in countries like China and India.
Global Automotive Lead-acid Battery Market Trends:
The market is witnessing a shift towards advanced lead-acid battery technologies like absorbent glass mat (AGM) and gel batteries, which offer improved performance, longer life, and increased resistance to vibration. Lead-acid batteries are increasingly being integrated into start-stop systems in vehicles, helping to improve fuel efficiency and reduce emissions, especially in urban driving conditions.
Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARCs information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the companys expertise.
Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.
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