The automotive lead-acid battery is a storage appliance for electrical energy in automotive. It is an electrochemical component that yields voltage and distributes electrical current to power electrical circuits within the automobile. The automotive lead-acid battery constitutes of two different kinds of lead in an acid mixture that perform an electrochemical reaction, which converts chemical energy into electrical current and leads to production of voltage in the automotive.
Surge in automotive production and sales across the world supplemented with a rise in vehicle electrification are driving the automotive lead-acid battery market, as most vehicles utilize lead-acid batteries that also supply power to the vehicle accessories. Low cost, high efficiency, reliability, high performance, durability, and tolerance to overcharging are key factors that prompt buyers and the automotive industry to opt for lead-acid batteries.
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These factors are projected to boost the automotive lead-acid battery market during the forecast period. Moreover, rising adoption of electric vehicles that utilize battery as a fuel source is also estimated to drive the automotive lead-acid battery during the forecast period. However, automotive lead-acid batteries are quite heavy and bulky and are generally not suitable for fast charging. This is anticipated to hamper the automotive lead-acid battery market during the forecast period.
The global automotive lead-acid battery market can be segmented based on battery type, vehicle type, propulsion, and region. In terms of battery type, the automotive lead-acid battery market can be classified into lead calcium battery, lead antimony battery, sealed lead-acid (SLA) battery, and others. Sealed lead-acid battery, also called valve regulated lead-acid battery, was a highly attractive and lucrative segment of the market primarily due to its design and ability to avert electrolyte loss and eliminate the spillage of the acid electrolyte, resulting in longer battery life, easy maintenance, and safer operation. The segment is likely to expand significantly in the near future.
Based on vehicle type, the automotive lead-acid battery market can be categorized into passenger vehicle and commercial vehicle. The passenger vehicle segment accounts for a higher share of the market. It is projected to expand during the forecast period due to higher adoption of the passenger vehicles owing to rising living standard, demand for personal transportation vehicle, decline in car loan rate, and improved interest rate on vehicle purchase.
In terms of propulsion, the automotive lead-acid battery market can be segregated into internal combustion engine vehicle, hybrid vehicle, and electric vehicle. The internal combustion engine vehicle segment leads the automotive lead-acid battery market. It is projected to maintain its leading position in the market during the forecast period. Lack of charging infrastructure and introduction of lithium-ion battery, which is safer and preferred in electric and hybrid vehicles, are hampering the internal combustion engine vehicle segment.
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In terms of region, the automotive lead-acid battery market can be segmented into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Asia Pacific dominates the global automotive lead-acid battery market, which can be majorly attributed to the higher production and sale of vehicles in the region especially in countries such as China, India, Japan, South Korea, and Indonesia.
Major players operating in the global automotive lead-acid battery market include Johnson Controls International Plc, Haldex Incorporated, LG Chem., ZF Friedrichshafen AG, SAMSUNG SDI CO.,LTD., Hitachi, Ltd., EnerSys, Panasonic Corporation, Furukawa Electric Co. Ltd., Leoch International Tech, GS Yuasa Corporation, Crown Battery Manufacturing Company, and Exide Industries Limited.