Market Size of North America Lead Acid Battery Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 4.85 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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North America Lead acid battery Market Analysis
The North American lead acid battery market is expected to witness moderate growth during the forecast period, registering a CAGR of 4.85% between 2022-2027. Factors such as growing demand from the automotive industry coupled with increasing applications in other end-user industries such as railways are expected to drive the market during the forecast. However, the alternate technologies, mainly, lithium-ion are expected to disrupt the growth primarily owing to their decreasing costs as well as technical advantages.
- SLI Battery segment is the fastest growing segment in the North American battery market during the forecast period. SLI (Starting, Lighting, and Ignition), owing to the large vehicle fleet of the country translates into large volumes of lead-acid battery sales.
- Advances in lead-acid battery technology to increase storage density, extend usable service life, and improve cold-weather performance at a comparatively lower cost than modern battery technologies are expected to provide a significant opportunity to the market players.
- The United States is one of the major hotspots for industrial batteries across the world on account of robust industrial infrastructure, surging deployment of battery-based energy storage projects, and expansion in renewable power infrastructure. Moreover, the favorable policy toward the deployment of renewable energy and residential distributed energy systems in the United States is likely to drive the battery market in the coming years.
