Sustainability Could See Lead Acid Battery Resurgence
Fears over global warming and the requirement for sustainability could become the nail-in-the-coffin of lithium-ion batteries and see lead acid become dominant in BEV technology.
That’s the suggestion being made by a report from market analyst Radiant Insights that envisions a boom in technology that boasts a 99% recycle potential against lithium-ion’s paltry 5%. Its report, Automotive Lead Acid Battery Market 2028, claims the market is expected to grow exponentially in the years to come.
It attributes this to the ever-increasing urbanization and industrialization, technological advancements and growing inclination towards EVs. While lithium-ion batteries have been dominating the BEV, PHEV and hybrid market so far, the recycling advantages of a lead acid battery could make it a stronger long-term contender when considering renewable energy solutions.
The report segments the market based on type of battery, propulsion, vehicle type and geography. By type of battery, the market spans sealed lead-acid (SLA) battery, lead antimony battery, lead calcium battery, and others. By type of vehicle, the market segmentation of automotive lead acid battery goes like commercial vehicle and passenger vehicle. By propulsion, the automotive lead acid battery market comprises electric vehicle, hybrid vehicle and combustion engine vehicle. By geography, the market states North America, LATAM, Europe, Asia Pacific, and MEA.
Here Asia Pacific rules the roost, thanks to higher production as well as sales of vehicles in Indonesia, South Korea, Japan, India, and China. It also suggests increasing adoption of lead acid for energy storage in the industrial sectors thought to pave the way for these automotive batteries in the near future. According to its experts, the report asserts that value-for-money energy storage installations would prefer using lead acid as battery storage system. It has also been observed that stationary lead-batteries are much more efficient for energy storage suffering less leakage and degradation than lithium-ion.
The industry players contributing to the automotive lead acid battery market include Haldex, Furukawa Electric, Panasonic Corporation, Crown Battery, Exide Industries, GS Yuasa Corporation, Leoch International Tech, EnerSys, Hitachi, Johnson Controls International and ZF Friedrichshafen AG. Waldies, a specialty lead manufacturer, is quoted as stating that automotive lead acid batteries will take the market by storm once electric vehicles are all set for mass adoption.
— Paul Myles is a seasoned automotive journalist based in London. Follow him on Twitter @Paulmyles_
