Lead Acid Industrial Traction Battery Market by Application, Country, and Region: Industry Analysis, Market Size, Market Share, and Forecast from 2024 to 2032

Description

REPORT HIGHLIGHT

The Lead Acid Industrial Traction Battery Market is anticipated to reach USD 1,121.2 million in 2023, with a CAGR of 11.20% from 2024 to 2032.

A lead acid industrial traction battery is a long-lasting, rechargeable power source that is commonly used in heavy-duty applications like forklifts and electric vehicles. To create electricity, lead and lead oxide plates are submerged in a sulfuric acid electrolyte solution. These batteries are designed to withstand deep discharges and several recharging cycles, making them ideal for demanding industrial applications requiring dependable and long-lasting energy storage.

Lead Acid Industrial Traction Battery Market- Market Dynamics

Increased Attention on Electrifying Industrial Vehicles

The market is undergoing a substantial change toward electric industrial vehicles. This trend reflects an increasing emphasis on environmental sustainability and the need to reduce carbon emissions in industrial activities. With developments in battery technology and increased usage of electric vehicles in various sectors, including manufacturing, logistics, and construction, demand for lead-acid traction batteries is increasing significantly, pushing innovation and investment in this market segment.

Lead Acid Industrial Traction Battery Market- Key Insights

Our research analyst estimates that the global market will develop at a CAGR of approximately 11.20% from 2024-2032.

According to application segmentation, the forklift application is expected to dominate the market in 2023

On the basis of region, North America is expected to have the highest market share in 2023

Lead Acid Industrial Traction Battery Market- Segmentation Analysis:

The Global Lead Acid Industrial Traction Battery Market is divided into three segments: application and region.

The market is segmented into three segments according to application: Railroads, Forklifts, and others. The forklift application is expected to dominate the market in 2023. Electric forklifts have higher energy efficiency and operate without the need for combustion fuel, making them versatile energy carriers that correspond with transportation policy objectives. Electric vehicles (EVs) provide significant advantages over conventional internal combustion engines, including improved air quality, reduced noise pollution, increased energy security, and lower greenhouse gas emissions.

Lead Acid Industrial Traction Battery Market- Geographical Insights

Geographically, this market is distributed over Asia Pacific, Europe, Latin America, Asia Pacific, North America, the Middle East, and Africa. These regions are further segmented according to the countries bringing commerce. North America is expected to have the greatest market share over the projection period. With the expansion of enterprises such as e-commerce, logistics, and manufacturing, the need for traction battery-powered material handling equipment has increased. Environmental restrictions and the quest for cleaner technologies have resulted in improvements to lead-acid battery technology, making it more efficient and environmentally friendly.

Asia Pacific is likely to have the highest CAGR over the forecast period. The expansion of e-commerce has resulted in increasing warehouse operations and logistics activities, necessitating efficient material handling equipment driven by traction batteries. The presence of both domestic and international battery makers has increased competition, resulting in technological breakthroughs, competitive pricing, and enhanced product offers.

Lead Acid Industrial Traction Battery Market- Competitive Landscape:

Lead Acid Industrial Traction Battery Market is highly competitive as well as diversified, and it has various numbers of key players. Some of the key players are ENERSYS, EXIDE INDUSTRIES LTD, Hitachi Energy Ltd., Samsung SDI Co., Ltd., and others. Exide Technologies is one of the major players with diversified lead-acid battery offerings for industrial applications. Johnson Controls also plays a significant role due to its advanced battery technologies. Enersys specializes in high-performance lead acid batteries primarily in material handling; Samsung SDI Co specializes in deep cycle batteries used in all kinds of industries. Energy Ltd Manufacturing focuses on building trusted and reliable batteries for industrial use. All these aspects, in other words, the performance of the product, technological innovation, and customer support, which the competition is anticipated to be between these companies as the lead acid industrial traction battery market expands.

Recent Developments:

In October 2023, HOPPECKE was charged with supporting a beverage sector client during the launch of a new logistics facility, which featured the first use of electrically driven industrial trucks. The client requested assistance with occupational safety measures, protective equipment for battery handling, and compliance with plant ventilation and charging station requirements.

SCOPE OF THE REPORT

This report's scope includes the following important market segments:

GLOBAL LEAD ACID INDUSTRIAL TRACTION BATTERY MARKET KEY PLAYERS- DETAILED COMPETITIVE INSIGHTS

Amara Raja Batteries Ltd.
Panasonic Corporation
Camel Group Co., Ltd.
Ecovolta
ENERSYS
EXIDE INDUSTRIES LTD
Hitachi Energy Ltd.
Samsung SDI Co., Ltd.
LG Energy Solution
HOPPECKE Batteries GmbH & Co. KG
MIDAC S.p.A.
Mutlu Corporation
Toshiba Corporation
Others

GLOBAL LEAD ACID INDUSTRIAL TRACTION BATTERY MARKET, BY APPLICATION- MARKET ANALYSIS, 2019 - 2032

Railroads
Forklift
Class 1
Class 2
Class 3
Others

GLOBAL LEAD ACID INDUSTRIAL TRACTION BATTERY MARKET, BY REGION- MARKET ANALYSIS, 2019 - 2032

North America
The U.S.
Canada
Europe
Germany
France
Italy
Spain
United Kingdom
Russia
Netherlands
Sweden
Poland
Rest of Europe
Asia Pacific
India
China
South Korea
Japan
Australia
Thailand
Indonesia
Philippines
Rest of APAC
Latin America
Brazil
Mexico
Argentina
Colombia
Rest of LATAM
The Middle East and Africa
Saudi Arabia
United Arab Emirates
Israel
Turkey
Algeria
Egypt
Rest of MEA

Product Code: ANV3898

1. Lead Acid Industrial Traction Battery Market Overview

1.1. Study Scope
1.2. Market Estimation Years

2. Executive Summary

2.1. Market Snippet
- 2.1.1. Lead Acid Industrial Traction Battery Market Snippet by Application
- 2.1.2. Lead Acid Industrial Traction Battery Market Snippet by Country
- 2.1.3. Lead Acid Industrial Traction Battery Market Snippet by Region
2.2. Competitive Insights

3. Lead Acid Industrial Traction Battery Key Market Trends

3.1. Lead Acid Industrial Traction Battery Market Drivers
- 3.1.1. Impact Analysis of Market Drivers
3.2. Lead Acid Industrial Traction Battery Market Restraints
- 3.2.1. Impact Analysis of Market Restraints
3.3. Lead Acid Industrial Traction Battery Market Opportunities
3.4. Lead Acid Industrial Traction Battery Market Future Trends

4. Lead Acid Industrial Traction Battery Industry Study

4.1. PEST Analysis
4.2. Porter's Five Forces Analysis
4.3. Growth Prospect Mapping
4.4. Regulatory Framework Analysis

5. Lead Acid Industrial Traction Battery Market: COVID-19 Impact Analysis

5.1. Pre-COVID-19 Impact Analysis
5.2. Post-COVID-19 Impact Analysis
- 5.2.1. Top Performing Segments
- 5.2.2. Marginal Growth Segments
- 5.2.3. Top Looser Segments
- 5.2.4. Marginal Loss Segments

6. Lead Acid Industrial Traction Battery Market Landscape

6.1. Lead Acid Industrial Traction Battery Market Share Analysis, 2023
6.2. Breakdown Data, by Key Manufacturer
- 6.2.1. Established Players' Analysis
- 6.2.2. Emerging Players' Analysis

7. Lead Acid Industrial Traction Battery Market - By Application

7.1. Overview
- 7.1.1. Segment Share Analysis, By Application, 2023 & 2032 (%)
- 7.1.2. Railroads
- 7.1.3. Forklift
  - 7.1.3.1. Class 1
  - 7.1.3.2. Class 2
  - 7.1.3.3. Class 3
- 7.1.4. Others

8. Lead Acid Industrial Traction Battery Market- By Geography

8.1. Introduction
- 8.1.1. Segment Share Analysis, By Geography, 2023 & 2032 (%)
8.2. North America
- 8.2.1. Overview
- 8.2.2. Lead Acid Industrial Traction Battery Key Manufacturers in North America
- 8.2.3. North America Market Size and Forecast, By Country, 2019 - 2032 (US$ Million)
- 8.2.4. North America Market Size and Forecast, By Application, 2019 - 2032 (US$ Million)
- 8.2.5. U.S.
  - 8.2.5.1. Overview
  - 8.2.5.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2019 - 2032, (US$ Million)
  - 8.2.5.3. U.S. Market Size and Forecast, By Application, 2019 - 2032 (US$ Million)
- 8.2.6. Canada
  - 8.2.6.1. Overview
  - 8.2.6.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2019 - 2032, (US$ Million)
  - 8.2.6.3. Canada Market Size and Forecast, By Application, 2019 - 2032 (US$ Million)
8.3. Europe
- 8.3.1. Overview
- 8.3.2. Lead Acid Industrial Traction Battery Key Manufacturers in Europe
- 8.3.3. Europe Market Size and Forecast, By Country, 2019 - 2032 (US$ Million)
- 8.3.4. Europe Market Size and Forecast, By Application, 2019 - 2032 (US$ Million)
- 8.3.5. Germany
  - 8.3.5.1. Overview
  - 8.3.5.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2019 - 2032, (US$ Million)
  - 8.3.5.3. Germany Market Size and Forecast, By Application, 2019 - 2032 (US$ Million)
- 8.3.6. Italy
  - 8.3.6.1. Overview
  - 8.3.6.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2019 - 2032, (US$ Million)
  - 8.3.6.3. Italy Market Size and Forecast, By Application, 2019 - 2032 (US$ Million)
- 8.3.7. United Kingdom
  - 8.3.7.1. Overview
  - 8.3.7.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2019 - 2032, (US$ Million)
  - 8.3.7.3. United Kingdom Market Size and Forecast, By Application, 2019 - 2032 (US$ Million)
- 8.3.8. France
  - 8.3.8.1. Overview
  - 8.3.8.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2019 - 2032, (US$ Million)
  - 8.3.8.3. France Market Size and Forecast, By Application, 2019 - 2032 (US$ Million)
- 8.3.9. Russia
  - 8.3.9.1. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2019 - 2032, (US$ Million)
  - 8.3.9.2. Russia Market Size and Forecast, By Application, 2019 - 2032 (US$ Million)
- 8.3.10. Netherlands
  - 8.3.10.1. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2019 - 2032, (US$ Million)
  - 8.3.10.2. Netherlands Market Size and Forecast, By Application, 2019 - 2032 (US$ Million)
- 8.3.11. Sweden
  - 8.3.11.1. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2019 - 2032, (US$ Million)
  - 8.3.11.2. Sweden Market Size and Forecast, By Application, 2019 - 2032 (US$ Million)
- 8.3.12. Poland
  - 8.3.12.1. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2019 - 2032, (US$ Million)
  - 8.3.12.2. Poland Market Size and Forecast, By Application, 2019 - 2032 (US$ Million)
- 8.3.13. Rest of Europe
  - 8.3.13.1. Overview
  - 8.3.13.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2019 - 2032, (US$ Million)
  - 8.3.13.3. Rest of the Europe Market Size and Forecast, By Application, 2019 - 2032 (US$ Million)
8.4. Asia Pacific (APAC)
- 8.4.1. Overview
- 8.4.2. Lead Acid Industrial Traction Battery Key Manufacturers in Asia Pacific
- 8.4.3. Asia Pacific Market Size and Forecast, By Country, 2019 - 2032 (US$ Million)
- 8.4.4. Asia Pacific Market Size and Forecast, By Application, 2019 - 2032 (US$ Million)
- 8.4.5. India
  - 8.4.5.1. Overview
  - 8.4.5.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2019 - 2032, (US$ Million)
  - 8.4.5.3. India Market Size and Forecast, By Application, 2019 - 2032 (US$ Million)
- 8.4.6. China
  - 8.4.6.1. Overview
  - 8.4.6.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2019 - 2032, (US$ Million)
  - 8.4.6.3. China Market Size and Forecast, By Application, 2019 - 2032 (US$ Million)
- 8.4.7. Japan
  - 8.4.7.1. Overview
  - 8.4.7.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2019 - 2032, (US$ Million)
  - 8.4.7.3. Japan Market Size and Forecast, By Application, 2019 - 2032 (US$ Million)
- 8.4.8. South Korea
  - 8.4.8.1. Overview
  - 8.4.8.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2019 - 2032, (US$ Million)
  - 8.4.8.3. South Korea Market Size and Forecast, By Application, 2019 - 2032 (US$ Million)
- 8.4.9. Australia
  - 8.4.9.1. Overview
  - 8.4.9.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2019 - 2032, (US$ Million)
  - 8.4.9.3. Australia Market Size and Forecast, By Application, 2019 - 2032 (US$ Million)
- 8.4.10. Thailand
  - 8.4.10.1. Overview
  - 8.4.10.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2019 - 2032, (US$ Million)
  - 8.4.10.3. Thailand Market Size and Forecast, By Application, 2019 - 2032 (US$ Million)
- 8.4.11. Indonesia
  - 8.4.11.1. Overview
  - 8.4.11.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2019 - 2032, (US$ Million)
  - 8.4.11.3. Indonesia Market Size and Forecast, By Application, 2019 - 2032 (US$ Million)
- 8.4.12. Philippines
  - 8.4.12.1. Overview
  - 8.4.12.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2019 - 2032, (US$ Million)
  - 8.4.12.3. Philippines Market Size and Forecast, By Application, 2019 - 2032 (US$ Million)
- 8.4.13. Rest of APAC
  - 8.4.13.1. Overview
  - 8.4.13.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2019 - 2032, (US$ Million)
  - 8.4.13.3. Rest of APAC Market Size and Forecast, By Application, 2019 - 2032 (US$ Million)
8.5. Latin America
- 8.5.1. Overview
- 8.5.2. Lead Acid Industrial Traction Battery Key Manufacturers in Latin America
- 8.5.3. Latin America Market Size and Forecast, By Country, 2019 - 2032 (US$ Million)
- 8.5.4. Latin America Market Size and Forecast, By Application, 2019 - 2032 (US$ Million)
- 8.5.5. Brazil
  - 8.5.5.1. Overview
  - 8.5.5.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2019 - 2032, (US$ Million)
  - 8.5.5.3. Brazil Market Size and Forecast, By Application, 2019 - 2032 (US$ Million)
- 8.5.6. Mexico
  - 8.5.6.1. Overview
  - 8.5.6.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2019 - 2032, (US$ Million)
  - 8.5.6.3. Mexico Market Size and Forecast, By Application, 2019 - 2032 (US$ Million)
- 8.5.7. Argentina
  - 8.5.7.1. Overview
  - 8.5.7.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2019 - 2032, (US$ Million)
  - 8.5.7.3. Argentina Market Size and Forecast, By Application, 2019 - 2032 (US$ Million)
- 8.5.8. Colombia
  - 8.5.8.1. Overview
  - 8.5.8.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2019 - 2032, (US$ Million)
  - 8.5.8.3. Colombia Market Size and Forecast, By Application, 2019 - 2032 (US$ Million)
- 8.5.9. Rest of LATAM
  - 8.5.9.1. Overview
  - 8.5.9.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2019 - 2032, (US$ Million)
  - 8.5.9.3. Rest of LATAM Market Size and Forecast, By Application, 2019 - 2032 (US$ Million)
8.6. Middle East and Africa
- 8.6.1. Overview
- 8.6.2. Lead Acid Industrial Traction Battery Key Manufacturers in Middle East and Africa
- 8.6.3. Middle East and Africa Market Size and Forecast, By Country, 2019 - 2032 (US$ Million)
- 8.6.4. Middle East and Africa Market Size and Forecast, By Application, 2019 - 2032 (US$ Million)
- 8.6.5. Saudi Arabia
  - 8.6.5.1. Overview
  - 8.6.5.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2019 - 2032, (US$ Million)
  - 8.6.5.3. Saudi Arabia Market Size and Forecast, By Application, 2019 - 2032 (US$ Million)
- 8.6.6. United Arab Emirates
  - 8.6.6.1. Overview
  - 8.6.6.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2019 - 2032, (US$ Million)
  - 8.6.6.3. United Arab Emirates Market Size and Forecast, By Application, 2019 - 2032 (US$ Million)
- 8.6.7. Israel
  - 8.6.7.1. Overview
  - 8.6.7.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2019 - 2032, (US$ Million)
  - 8.6.7.3. Israel Market Size and Forecast, By Application, 2019 - 2032 (US$ Million)
- 8.6.8. Turkey
  - 8.6.8.1. Overview
  - 8.6.8.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2019 - 2032, (US$ Million)
  - 8.6.8.3. Turkey Market Size and Forecast, By Application, 2019 - 2032 (US$ Million)
- 8.6.9. Algeria
  - 8.6.9.1. Overview
  - 8.6.9.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2019 - 2032, (US$ Million)
  - 8.6.9.3. Algeria Market Size and Forecast, By Application, 2019 - 2032 (US$ Million)
- 8.6.10. Egypt
  - 8.6.10.1. Overview
  - 8.6.10.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2019 - 2032, (US$ Million)
  - 8.6.10.3. Egypt Market Size and Forecast, By Application, 2019 - 2032 (US$ Million)
- 8.6.11. Rest of MEA
  - 8.6.11.1. Overview
  - 8.6.11.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2019 - 2032, (US$ Million)
  - 8.6.11.3. Rest of MEA Market Size and Forecast, By Application, 2019 - 2032 (US$ Million)

9. Key Vendor Analysis- Lead Acid Industrial Traction Battery Industry

9.1. Competitive Dashboard
9.2. Company Profiles
- 9.2.1. Amara Raja Batteries Ltd.
- 9.2.2. Panasonic Corporation
- 9.2.3. Camel Group Co., Ltd.
- 9.2.4. Ecovolta
- 9.2.5. ENERSYS
- 9.2.6. EXIDE INDUSTRIES LTD
- 9.2.7. Hitachi Energy Ltd.
- 9.2.8. Samsung SDI Co., Ltd.
- 9.2.9. LG Energy Solution
- 9.2.10. HOPPECKE Batteries GmbH & Co. KG
- 9.2.11. MIDAC S.p.A.
- 9.2.12. Mutlu Corporation
- 9.2.13. Toshiba Corporation
- 9.2.14. Others

10. 360 Degree Analyst View

11. Appendix

11.1. Research Methodology
11.2. References
11.3. Abbreviations
11.4. Disclaimer
11.5. Contact Us