According to Reports & Data, the global lead acid battery market size is expected to reach US$ 138.03 Billion in 2032. The global lead acid battery market is estimated to be valued at US$ 87.20 Billion in 2022 and is projected to increase at a CAGR of 4.7 % in the forecast period from 2022 to 2032.
Each year, CBI commissions an independent market analysis of lead battery market data and future forecasts from Avicenne Energy. For access to the full 2023 report as a CBI member, contact us. Lead batteries dominate the UPS battery market providing almost 90% of demand. This market is predicted to grow to 18.1 GWh by 2030
This market is predicted to grow to 18.1 GWh by 2030 Lead batteries represent almost 80% of motive power battery demand, in applications such as forklift trucks. The market is predicted to grow to 34.2 GWh by 2030. Global demand for battery energy storage is predicted to grow to 616 GW by 2030.
In order to benefit from the increasingly apparent opportunity for boosted revenue generation streams, major telecom players continue to invest in expanding and developing their processes and operations, creating future opportunities for the lead acid battery market.
Still, the top three battery makers are responsible for two thirds (66%) of the total battery deployment, which highlights the importance of scale in this business, in order to have the most competitive product on the market. Panasonic, once upon a time a leader in the automotive EV business, has continued its slow slide down the table.
In February 2023, the company’s dominant position in the electric vehicle (EV) battery market was cemented by a report from SNE Research—a South Korean firm, which highlighted Contemporary Amperex Technology Limited’s (CATL’s) growth to 191.6 GWh produced in 2022. CATL has reigned supreme for a number of years with a market share of 34% in 2022.