Lead Acid Battery Market – Global Trade Data of Lead Acid Battery

21 July 2021

A lead acid battery is electrical machinery, utilized as a system for energy storage and deployed across various applications as a power source. It consists of a sulfuric acid solution electrolyte with lead dioxide cathode and sponge metallic lead anode making these units rechargeable. The global lead acid battery market is projected to cross USD 80 billion by 2027, owing to the growth of industrial, transportation & commercial sectors, according to market research reports.

Growing demand for energy storage devices which are used in automobile industry will impact the adoption of lead acid batteries across the globe. Rapid growth of the commercial vehicle, motorcycle and passenger car manufacturing industries is also projected to drive the product demand. Rising demand for UPS in various sectors such as oil & gas, banking, chemicals and healthcare is positively driving the demand of lead acid battery.

Lead Acid Battery Exports and Imports 2011-2020

The global exports of lead acid battery stood at USD 10.2 billion in 2020, a slight decline as compared to the previous year. And imports of the product valued USD 9.8 billion in the same year. Look at the global export & import picture of lead acid battery reported from 2011 to 2020.

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Lead Acid Battery Global Market Share by Countries

Asia-Pacific is the largest regional market of lead-acid battery. South Korea was the top-most exporter country of lead acid battery with a market share of 16.8% recorded in 2020. As far as imports are concerned, the United States of America was the largest importer country in the world, which shared 16% to global imports of lead acid battery. According to international trade data, top 10 import countries of lead acid battery accounted for 50.8%, while top 10 export countries of the product shared 74.3% to global shipments in 2020.

Covid-19 Pandemic Impact on Global Lead Acid Battery Market

The global lead acid battery market was hit temporarily due to longer Covid-19 lockdown periods in 2020. The business of Chinese manufacturers was stopped due to pandemic and also supply & procurement was totally affected. The automotive industry is facing at least a quarter of lag in automotive equipment supply chain. This disruption is expected to create tremors through 2021 as many countries are facing fresh waves of coronavirus and related mutants. If Covid-19 situation get improved around the globe, the production of the electronic equipment and automotive is anticipated to gain pace from 2022, which is further foreseen to positively influence the electronics equipment & automotive manufacturing including hardware components of automotive lead acid batteries.  

Our report on global lead acid battery market covers comprehensive view of all development activities by world’s leading players with in-depth analysis by key segments, leading and emerging players and their presence geographies. This report also covers current Covid-19 impact on the market. The benefits of our lead acid battery global market include recognizing & following arising players in the market, enhancing decision-making abilities, helping to create effective counter-strategies and gaining a competitive advantage.