Lead-Acid Battery Market Steadily Advancing Across the World

Valued at $56.9 billion in 2017 according to a P&S Intelligence study, the global lead-acid battery market is projected to reach $70.7 billion by 2023, registering a revenue CAGR of 3.7% during the forecast period (2018–2023). Growing use of uninterrupted power supply (UPS) systems in industrial setups, increasing demand for electric vehicles, and rapid industrialization in developing countries are some key factors aiding the growth of the domain.

Lead-acid battery is a rechargeable cell, which converts chemical energy into electric power. It consists of plates of lead and lead oxide that are immersed in a sulfuric acid solution. Because of the presence of the oxide component, the lead plates get oxidized, generating electric current during the discharge cycle. These batteries have diverse uses, such as in domestic inverters, motorcycles, sailboats and even off-grid power systems.

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the lead-acid battery market is divided into valve regulated lead–acid (VRLA) and flooded. In the historical period 2013–2017, the flooded lead-acid battery held the larger share in the market, recording more than 51.0% unit sales. The reason for this was its cost-effectiveness for entry-level start-stop vehicles over its VRLA counterpart. Increasing application of flooded lead-acid batteries in marine applications is expected to further increase its sales volume in the coming years.

Lead–acid batteries are quite cost-effective and easily rechargeable power devices, hence, play an important role in backup power generation in developing nations, such as India, Mexico, Indonesia, South Korea, Thailand, and Vietnam. Moreover, healthcare, chemicals, manufacturing, and oil and gas industries need an uninterrupted electricity supply to attain proper functioning of plants and machinery. The growing use of UPS in these sectors, coupled with regulatory support and private investments, is predicted to drive the lead-acid battery market during the forecast period.

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