Asia Pacific Lead Acid Battery Market Analysis

Asia Pacific Lead Acid Battery Market Analysis

The VRLA battery market size will witness growth rate of 3.4% through 2032. Reduced electrolyte evaporation, spillage and higher resistance to temperature are some of the key underlying factors which has fueled the product adoption. In addition, ability to withstand shock and vibration also makes them suitable for wide tandem of applications. These units provide improved installation & maintenance costs, energy density and safety when compared with conventional flooded units, stimulating the business growth.
 

The stationary application held approximately 60% share of the Asia Pacific lead acid battery market in 2022. Paradigm shift toward reliable power quality driven by the ever-increasing dependency on electronics will positively impact the business landscape. Moreover, increasing foreign direct investment, primarily across the developing economies is facilitating the development of infrastructure and capital equipment which in turn will propel the industry outlook.

The aftermarket lead acid battery market is set to surpass USD 40 billion by 2032. These units have a relatively limited lifespan, and they need replacement over time. The aftermarket for lead-acid batteries benefits from the constant demand for replacements in various applications, including automotive, industrial, and standby power.
 

The China lead acid battery was valued at over USD 17.8 billion in 2022. The industry will witness an appreciable momentum on account of increasing production of automobiles and surging focus toward reliable & efficient power supply. Furthermore, the increasing demand from telecommunication, UPS, inverters, and controls & switchgears amongst others will boost the adoption of high-capacity batteries. Additionally, the ability of these units to deliver a competitively priced and easily accessible energy storage solution for a broad array of applications will fuel the product penetration.