According to the latest data from Future Market Insights, worldwide automotive lead-acid battery sales are expected to increase, allowing the market’s valuation to reach US$ 36.2 billion in 2031. (FMI). The market is expected to grow at a stable CAGR of over 3% from 2021 to 2031, according to the analysis.
The most popular lead-acid batteries are flooded batteries, followed by improved flooded batteries. Flooded batteries are estimated to account for more than half of all market sales. Lead batteries are increasingly being used for starting, lighting, and ignition (SLI) applications throughout the world. Lead-acid batteries’ widespread availability and low cost compared to other battery types will continue to fuel market growth in the coming decade.
Despite the introduction of several modern technologies that threaten to replace them, sales of lead-acid batteries will continue to rise at a moderate rate. Throughout the forecast period, increased passenger and commercial vehicle manufacturing will continue to sustain growth.
Additionally, new technologies are assisting general expansion. Some of the main manufacturers are concentrating on a wide range of automotive lead-acid resistance, heat generation reduction, electrode plate modification, and charge acceptance improvement.
Clarion, GS Yuasa Corporation, Panasonic Corporation, Leoch International Technology Limited, Exide Industries Ltd., EnerSys Inc., and others.