LONDON--(BUSINESS WIRE)--The global automotive lead-acid battery market is expected to grow by USD 12.26 billion as per Technavio. This marks a significant market slowdown compared to the previous year's growth estimates due to the impact of the COVID-19 pandemic in the first half of 2020. However, healthy growth is expected to continue throughout the forecast period, and the market is expected to grow at a CAGR of over 5%.
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The market is driven by the increase in tourism worldwide. In addition, the growing legislative support for battery recycling is anticipated to boost the growth of the automotive lead-acid battery market.
Countries such as the US, the UK, India, Australia, Germany, and New Zealand are witnessing significant growth in the tourism industry. This can be attributed to the growing interest in traveling and exploring new places among the younger population. Also, the rise in per capita annual disposable income in developing countries has increased the consumer spend on automobiles. These factors have positively impacted the demand for car rental services. Car rental operators regularly perform car servicing to ensure smooth operations. This is creating a surge in the demand for lead-acid battery replacements, which is driving the growth of the market.
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Major Five Automotive Lead-acid Battery Companies:
Amara Raja Batteries Ltd.
Amara Raja Batteries Ltd. operates its business through segments such as Automotive Batteries and Industrial Batteries. The company manufactures Standby Valve Regulated Lead Acid batteries under its brands, Amaron and PowerZone.
Camel Group Co. Ltd.
Camel Group Co. Ltd. operates its business through segments such as Flooded automobile battery, AGM battery, Flooded traction battery, Lithium-ion battery, and Pure lead battery. The company offers lead-acid batteries under product segments such as Flooded automobile battery, AGM battery, and others.
East Penn Manufacturing Co. Inc.
East Penn Manufacturing Co. Inc. operates its business through segments such as Transportation, Motive Power, Reserve Power, and Wire, Cable & Battery Accessories. The company offers Intimidator AGM batteries. They feature heavy-duty Power-Perform plates with full-frames to prevent shorts and maximize energy storage and delivery.
EnerSys operates its business through segments such as Motive power and Reserve power. The company offers ODYSSEY Batteries. They feature a Thin Plate Pure Lead (TPPL) technology and AGM (Absorbed Glass Mat) design.
Exide Industries Ltd.
Exide Industries Ltd. operates its business through segments such as Storage batteries and allied products and Life Insurance business. The company offers Exide EEZY. It features high cranking power to weight ratio to ensure high power within a smaller footprint area with improved vehicle starting ability compared to conventional batteries.
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Automotive Lead-acid Battery Market Application Outlook (Revenue, USD Billion, 2020-2024)
Automotive Lead-acid Battery Market Geographic Outlook (Revenue, USD Billion, 2020-2024)
- North America
- South America
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