Lead-Acid Accumulators (Excluding Starter Batteries) Market

The article discusses the increasing demand for lead-acid accumulators (excluding starter batteries) worldwide, with forecasted growth in consumption and market value up to 2030. Key points include trends in production, consumption patterns in major countries like India and the United States, import and export statistics, and average prices. The data indicates a positive outlook for the global lead-acid accumulator market over the coming years.

Market Forecast

Driven by increasing demand for lead-acid accumulators (excluding starter batteries) worldwide, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +1.1% for the period from 2022 to 2030, which is projected to bring the market volume to 365M units by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +1.3% for the period from 2022 to 2030, which is projected to bring the market value to $12.7B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Lead-Acid Accumulators (Excluding Starter Batteries)

In 2022, consumption of lead-acid accumulators (excluding starter batteries) increased by 2.6% to 333M units, rising for the second year in a row after two years of decline. The total consumption volume increased at an average annual rate of +2.9% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, global consumption reached the peak volume in 2022 and is expected to retain growth in the immediate term.

The size of the market for lead-acid accumulators (excluding starter batteries) worldwide fell to $11.4B in 2022, dropping by -2.6% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +2.6% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the global market hit record highs at $12B in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Consumption By Country

India (69M units) remains the largest lead-acid accumulators (excluding starter batteries) consuming country worldwide, accounting for 21% of total volume. Moreover, lead-acid accumulators (excluding starter batteries) consumption in India exceeded the figures recorded by the second-largest consumer, the United States (34M units), twofold. Singapore (31M units) ranked third in terms of total consumption with a 9.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume in India stood at +15.1%. The remaining consuming countries recorded the following average annual rates of consumption growth: the United States (+0.0% per year) and Singapore (-0.6% per year).

In value terms, the United States ($2.8B) led the market, alone. The second position in the ranking was taken by China ($525M). It was followed by Mexico.

In the United States, the lead-acid accumulators (excluding starter batteries) market expanded at an average annual rate of +1.4% over the period from 2012-2022. The remaining consuming countries recorded the following average annual rates of market growth: China (+1.2% per year) and Mexico (+10.0% per year).

In 2022, the highest levels of lead-acid accumulators (excluding starter batteries) per capita consumption was registered in Singapore (5,379 units per 1000 persons), followed by the Netherlands (503 units per 1000 persons), Turkey (208 units per 1000 persons) and Germany (144 units per 1000 persons), while the world average per capita consumption of lead-acid accumulators (excluding starter batteries) was estimated at 42 units per 1000 persons.

In Singapore, lead-acid accumulators (excluding starter batteries) per capita consumption plunged by an average annual rate of -1.5% over the period from 2012-2022. The remaining consuming countries recorded the following average annual rates of per capita consumption growth: the Netherlands (+24.8% per year) and Turkey (+11.7% per year).

Production

World Production of Lead-Acid Accumulators (Excluding Starter Batteries)

Global lead-acid accumulators (excluding starter batteries) production reached 322M units in 2022, leveling off at 2021 figures. Over the period under review, production posted pronounced growth. The most prominent rate of growth was recorded in 2018 with an increase of 121% against the previous year. Over the period under review, global production hit record highs at 331M units in 2014; however, from 2015 to 2022, production failed to regain momentum.

In value terms, lead-acid accumulators (excluding starter batteries) production reduced to $10.5B in 2022 estimated in export price. In general, the total production indicated notable growth from 2012 to 2022: its value increased at an average annual rate of +3.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +88.5% against 2016 indices. The most prominent rate of growth was recorded in 2018 when the production volume increased by 74% against the previous year. Over the period under review, global production attained the maximum level at $11.9B in 2014; however, from 2015 to 2022, production failed to regain momentum.

Production By Country

China (184M units) remains the largest lead-acid accumulators (excluding starter batteries) producing country worldwide, comprising approx. 57% of total volume. Moreover, lead-acid accumulators (excluding starter batteries) production in China exceeded the figures recorded by the second-largest producer, Singapore (37M units), fivefold. Vietnam (16M units) ranked third in terms of total production with a 4.9% share.

From 2012 to 2022, the average annual growth rate of volume in China totaled +2.3%. In the other countries, the average annual rates were as follows: Singapore (+1.1% per year) and Vietnam (+13.4% per year).

Imports

World Imports of Lead-Acid Accumulators (Excluding Starter Batteries)

In 2022, the amount of lead-acid accumulators (excluding starter batteries) imported worldwide reached 300M units, surging by 13% on the previous year. The total import volume increased at an average annual rate of +2.5% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when imports increased by 21%. Over the period under review, global imports attained the maximum in 2022 and are likely to continue growth in years to come.

In value terms, lead-acid accumulators (excluding starter batteries) imports totaled $9B in 2022. The total import value increased at an average annual rate of +4.8% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 when imports increased by 19% against the previous year. Over the period under review, global imports reached the maximum in 2022 and are likely to see gradual growth in years to come.

Imports By Country

In 2022, India (73M units), distantly followed by the United States (45M units) and Turkey (19M units) were the main importers of lead-acid accumulators (excluding starter batteries), together making up 46% of total imports. The Netherlands (12M units), the Philippines (11M units), Germany (11M units), Russia (9.7M units), Mexico (7.5M units), Brazil (6.6M units), Italy (6M units), Malaysia (5.7M units), Canada (5.2M units) and South Africa (5M units) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Malaysia (with a CAGR of +23.4%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, the largest lead-acid accumulators (excluding starter batteries) importing markets worldwide were the United States ($1.3B), Germany ($691M) and the Netherlands ($473M), with a combined 28% share of global imports. Italy, Canada, Russia, Mexico, the Philippines, Turkey, South Africa, Malaysia, Brazil and India lagged somewhat behind, together accounting for a further 23%.

Malaysia, with a CAGR of +18.1%, saw the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

In 2022, the average import price for lead-acid accumulators (excluding starter batteries) amounted to $30 per unit, declining by -1.8% against the previous year. Over the last decade, it increased at an average annual rate of +2.3%. The pace of growth was the most pronounced in 2013 an increase of 16%. Over the period under review, average import prices reached the maximum at $32 per unit in 2017; however, from 2018 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Canada ($71 per unit), while India ($1.5 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+17.3%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Lead-Acid Accumulators (Excluding Starter Batteries)

In 2022, approx. 289M units of lead-acid accumulators (excluding starter batteries) were exported worldwide; surging by 11% against the year before. Over the period under review, exports continue to indicate a measured expansion. The most prominent rate of growth was recorded in 2018 when exports increased by 73%. The global exports peaked in 2022 and are likely to continue growth in the immediate term.

In value terms, lead-acid accumulators (excluding starter batteries) exports rose rapidly to $9.9B in 2022. The total export value increased at an average annual rate of +5.3% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 with an increase of 16% against the previous year. The global exports peaked in 2022 and are expected to retain growth in years to come.

Exports By Country

China prevails in exports structure, finishing at 166M units, which was near 57% of total exports in 2022. It was distantly followed by Vietnam (15M units) and the Netherlands (14M units), together creating a 9.9% share of total exports. The following exporters - the United States (11M units), Singapore (10M units), Germany (7.3M units), the United Arab Emirates (7.1M units), Greece (5.7M units), Malaysia (5.3M units), Poland (5.1M units) and France (4.7M units) - together made up 20% of total exports.

Exports from China increased at an average annual rate of +2.3% from 2012 to 2022. At the same time, the United Arab Emirates (+30.4%), Greece (+17.6%), Vietnam (+16.7%), Malaysia (+16.3%), Singapore (+11.4%), Poland (+6.2%), France (+5.8%), Germany (+3.0%) and the United States (+1.2%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing exporter exported in the world, with a CAGR of +30.4% from 2012-2022. The Netherlands experienced a relatively flat trend pattern. Vietnam (+3.7 p.p.), the United Arab Emirates (+2.2 p.p.) and Singapore (+1.9 p.p.) significantly strengthened its position in terms of the global exports, while China saw its share reduced by -5% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($2.9B) remains the largest lead-acid accumulators (excluding starter batteries) supplier worldwide, comprising 30% of global exports. The second position in the ranking was held by the United States ($937M), with a 9.5% share of global exports. It was followed by Vietnam, with a 9% share.

From 2012 to 2022, the average annual growth rate of value in China stood at +5.4%. The remaining exporting countries recorded the following average annual rates of exports growth: the United States (+2.6% per year) and Vietnam (+11.0% per year).

Export Prices By Country

The average export price for lead-acid accumulators (excluding starter batteries) stood at $34 per unit in 2022, approximately equating the previous year. Overall, the export price showed a noticeable expansion. The most prominent rate of growth was recorded in 2015 an increase of 87%. Over the period under review, the average export prices attained the maximum at $57 per unit in 2017; however, from 2018 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Germany ($86 per unit), while Singapore ($4.7 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+3.1%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform