Automotive Lead-Acid Battery Market worth $36.72 billion by 2032 - Exclusive Report by MarketsandMarkets™

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Jan 08, 2025, 06:45 ET

DELRAY BEACH, Fla., Jan. 8, 2025 /PRNewswire/ -- The report "Automotive Lead-Acid Battery Market by Product (SLI Batteries, Micro Hybrid, Auxiliary), Type (Flooded, VRLA), End Use (Passenger Cars, Light & Heavy Commercial Vehicles, Two Wheelers, Three Wheelers), and Region - Global Forecast to 2032", is projected to grow from USD 28.88 billion in 2024 to USD 36.72 billion by 2032, at a CAGR of 3.0% during the forecast period. Major factors contributing to the growth of the automotive lead acid battery market includes Passenger vehicles, commercial vehicles, and two-wheelers all depend on lead-acid batteries for starting, lighting, and ignition (SLI) applications. The surge in vehicle ownership, fueled by increasing urbanization and rising disposable incomes in developing regions, has further boosted demand. Additionally, the steady production of ICE vehicles, which still dominate the global automotive market despite the rise of electric vehicles (EVs), ensures sustained reliance on lead-acid batteries.

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The SLI battery segment is expected to account for the largest value share of the automotive lead acid battery market by product during the forecast period.

SLI (Starting, Lighting, and Ignition) batteries hold the largest value share in the automotive lead acid battery market due to their widespread use in traditional internal combustion engine vehicles. These batteries are essential for powering critical vehicle functions like starting the engine, providing electricity to lighting systems, and supporting electrical components. The dominance of SLI batteries is attributed to the vast number of ICE vehicles on the road, especially passenger cars which form the largest segment within the automotive market.

By type, the VRLA batteries segment is expected to account for the largest market share in terms of value during the forecast period.

Valve-Regulated Lead-Acid (VRLA) batteries dominate the automotive lead acid battery market by value share due to their superior performance and maintenance-free operation. They are widely used in motorcycles, passenger cars, and commercial vehicles. VRLA batteries offer benefits like longer lifespan, leak-proof design, and the ability to be mounted in any orientation. These advantages, coupled with increasing demand for high-performance batteries, have driven the growth of the VRLA segment and solidified its position as the largest by value share.

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By End Use, the passenger cars segment is expected to account for the largest market share during the forecast period in terms of value.

Passenger cars account for the largest value share in the automotive lead acid battery market due to their sheer number on the road globally. The majority of passenger cars still rely on internal combustion engines, which require powerful batteries to start and operate. As the automotive industry continues to grow, especially in developing countries, the demand for passenger cars and consequently, lead acid batteries is expected to remain strong. However, the increasing adoption of electric vehicles is likely to gradually reduce the market share of passenger cars in the long run.

By customer segment, the aftermarket segment is expected to account for the largest market share during the forecast period in terms of value.

The aftermarket segment holds the largest value share in the automotive lead acid battery market due to the inevitable need for battery replacements as vehicles age. As lead-acid batteries have a finite lifespan, the demand for replacement batteries remains consistent. Factors like increasing vehicle ownership, especially in emerging markets, and the aging vehicle fleet contribute to the growth of the aftermarket segment. Additionally, advancements in battery technology, such as enhanced flooded batteries (EFB) and absorbent glass mat (AGM) batteries, cater to the evolving needs of modern vehicles and further drive the aftermarket demand.

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Asia Pacific will register the largest market share during the forecast period.

The Asia Pacific region holds the largest value share in the global automotive lead acid battery market due to its massive automotive industry, rapid urbanization, and increasing vehicle ownership rates. Countries like China, India, and Japan are major automotive hubs, driving significant demand for lead-acid batteries. Additionally, the region's growing middle class and rising disposable incomes are fueling the purchase of personal vehicles, further boosting the market. Moreover, the presence of several key automotive manufacturers and suppliers in the region contributes to its dominance in the lead-acid battery market.

Some of the leading players in this market include EnerSys (US), Clarios (US), East Penn Manufacturing Company (US), GS Yuasa International Ltd. (Japan), and Exide Industries Ltd. (India).

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