Industrial Lead Acid Battery Market Size, Share, Growth, and Industry Analysis, By Type (Reserve Power and Motive Power), By Application (Industrial Forklifts, Telecom, UPS and Others), and Regional Forecast to 2028

Updated On: 08 April 2024

REPORT OVERVIEW

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The global industrial lead acid battery market size was 17670 million in 2022. As per our research, the market is expected to reach USD 22860 million by 2028, exhibiting a CAGR of 4.4% during the forecast period. The COVID-19 pandemic has been unprecedented and staggering, with industrial lead acid battery experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market’s growth and demand returning to pre-pandemic levels.

Industrial lead-acid batteries are a specific category of lead-acid batteries designed and manufactured for use in industrial applications where reliable and uninterrupted power supply is essential. These batteries are known for their robustness, long cycle life, and the ability to deliver high current outputs when needed. Industrial lead-acid batteries come in a wide range of capacities to meet different power requirements. They can be relatively small for backup power in a single office, or very large for providing uninterruptible power to entire data centers.

Industrial lead-acid batteries are commonly used in UPS systems to provide backup power during electrical outages, ensuring that critical operations can continue without interruption. They are used in cell towers and communication infrastructure to maintain connectivity during power failures or fluctuations. Data centers rely heavily on industrial lead-acid batteries to protect servers and data from power interruptions, allowing for a smooth transition to backup power sources. In commercial and industrial buildings, lead-acid batteries power emergency lighting systems to ensure safe evacuation during emergencies.

COVID-19 IMPACT: Increased Demand for Backup Power to Boost Demand Significantly

COVID-19 had a life changing impact globally. The industrial lead acid battery market growth was significantly affected. The virus had various impacts on different markets. Lockdowns were imposed in several nations. This erratic pandemic caused disruptions on all sorts of businesses. Restrictions tightened during the pandemic due to increasing number of cases. Numerous Industries were affected. However, the market for industrial lead acid battery experienced an increased demand.

During the initial phases of the pandemic, lockdowns, travel restrictions, and factory closures disrupted supply chains globally. This had an adverse impact on the production and distribution of industrial lead-acid batteries, leading to delays and shortages in some regions. Many industries experienced reduced operations or shutdowns due to the pandemic, leading to decreased demand for industrial lead-acid batteries in certain sectors. For example, the automotive manufacturing industry, which uses lead-acid batteries in vehicle production, faced challenges as car sales declined.

On the other hand, the pandemic underscored the importance of reliable backup power systems, particularly in sectors such as healthcare, data centers, and telecommunications. As a result, there was an increased demand for industrial lead-acid batteries to support essential infrastructure during power outages. With the surge in e-commerce activities and the increased reliance on remote work and online services, data centers became critical infrastructure. Industrial lead-acid batteries are a crucial component in uninterruptible power supply (UPS) systems for data centers. The growth in this sector contributed to sustained demand for these batteries. The market is anticipated to boost the industrial lead acid battery market share following the pandemic.

LATEST TRENDS

"Advanced Lead-Acid Technologies to Broaden Market Growth"

Research and development efforts were ongoing to enhance the performance of lead-acid batteries. This included innovations in electrode materials, additives, and manufacturing processes to improve efficiency and extend cycle life. Industrial lead-acid battery systems have been increasingly integrated with remote monitoring and Internet of Things (IoT) technologies. This allows for real-time monitoring of battery health, performance, and predictive maintenance, enhancing reliability and reducing downtime.

Industrial lead-acid batteries continued to play a role in energy storage systems for renewable energy sources, such as solar and wind power. The integration of lead-acid batteries with renewable energy systems was a notable trend. Some applications have been adopting hybrid energy storage solutions that combine lead-acid batteries with other energy storage technologies like lithium-ion batteries. This approach aims to leverage the strengths of both technologies for specific use cases. These latest developments are anticipated to boost the industrial lead acid battery market share.

SEGMENTATION

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By Type

Based on type, the market is divided into Reserve Power and Motive Power.

By Application

Based on application, the market is bifurcated into Industrial Forklifts, Telecom, UPS and Others.

DRIVING FACTORS

"Reliable Backup Power Needs to Boost Market Share"

Industries, institutions, and critical infrastructure sectors require reliable backup power solutions to maintain operations during power outages. Lead-acid batteries have a long history of providing dependable backup power, making them a preferred choice. The telecommunications industry relies heavily on backup power systems to ensure uninterrupted communication services. Lead-acid batteries are widely used in cell towers and data centers that support telecommunication networks. The expansion of data center infrastructure, driven by the increasing demand for digital services, has led to a growing need for uninterruptible power supply (UPS) systems, which rely on lead-acid batteries to provide continuous power in case of electrical disruptions.

"Safety and Reliability to Boost Market Size"

The inherent safety and reliability of lead-acid batteries make them suitable for critical applications where failure is not an option. Lead-acid batteries are used in grid-scale energy storage systems to stabilize the electrical grid, manage peak demand, and store excess energy generated during periods of low demand. These factors are anticipated to drive the industrial lead acid battery market share.

RESTRAINING FACTORS

"Advancements in Alternative Technologies to Hamper Market Share"

The emergence and rapid development of alternative battery technologies, such as lithium-ion and advanced lead-based chemistries, have led to increased competition in the energy storage market. These technologies often offer higher energy density and longer cycle life. Innovation in energy storage technologies has been more focused on lithium-ion and other emerging technologies. This has the potential to limit investments and research in lead-acid battery advancements. The factors are anticipated to hinder the growth of the industrial lead acid battery market share.

REGIONAL INSIGHTS

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"Asia Pacific Dominates the Market with Increasing Urbanization "

Asia Pacific has traditionally been a major shareholder in the industrial lead-acid battery market. Urbanization and urban infrastructure development have driven the need for emergency lighting and uninterruptible power supply systems, further boosting the market for lead-acid batteries. Rapid industrialization in countries like China and India has led to increased demand for industrial lead-acid batteries to support manufacturing processes, power backup, and infrastructure development. The region has seen substantial growth in the data center industry, with many data centers relying on lead-acid batteries for backup power. This trend has contributed to the high demand for these batteries.

KEY INDUSTRY PLAYERS

"Key Players Focus on Partnerships to Gain a Competitive Advantage "

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead in the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolio.

List of Market Players Profiled

• Exide Technologies [U.S.]
• GS Yuasa [Japan]
• Northstar [U.S.]
• Narada [China]
• Coslight [China]
• Saft [France]
• East Penn [U.S.]
• New Power [China]
• C&D Technologies [U.S.]
• Exide Industries [India]
• Amaraja [India]
• Hoppecke [Germany]
• Crown Batteries [U.S.]
• EnerSys [U.S.]

REPORT COVERAGE

This research profiles a report with extensive studies that take into description of the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints and others. This analysis is subject to alteration if the key players and probable analysis of market dynamics changes.