Global Automotive Lead-Acid Battery Industry still Poised for Growth

ResearchAndMarkets new analysis shows industry projected to exceed US$15 Billion by 2024

The global automotive lead-acid battery market was worth US$ 12.5 Billion in 2018. Looking forward, the market for lead acid batteries is projected to exceed US$ 15 Billion by 2024, exhibiting a CAGR of 3.1% during 2019-2024.

The demand of automotive lead-acid batteries has a strong correlation with the global automobile industry. The global automobile market has exhibited strong performance across both developed and emerging markets after a period of sluggish growth as a result of the recent global economic crisis.

Moreover, a spontaneous rise in the use of electric vehicles and e-bikes has also catalyzed the demand of lead acid batteries. Characteristics such as high current delivery, resistance to corrosion and abrasion, tolerance to overcharging, low internal impedance, etc. make them appropriate to be used in electric vehicles.

On a regional basis, the Asia Pacific region represented the biggest driver of automotive lead acid batteries accounting for the bulk of the total sales. Asia Pacific was followed by North America and Europe.

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