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South Korea Automotive Lead Acid Battery Market

South Korea Automotive Lead Acid Battery Market Automotive Lead Acid Battery Market By Battery Type (Flooded, SLI, Absorbent Glass Mat, Enhanced Flooded Battery); By End Use (Passenger Cars, Light and Heavy Commercial Vehicles, 2 & 3 Wheelers); By Customer (OEM, Aftermarket) – Growth, Share, Opportunities & Competitive Analysis, 2024 – 2032

Summary
Table Of Content

REPORT ATTRIBUTE	DETAILS
Historical Period	2020-2023
Base Year	2024
Forecast Period	2025-2032
South Korea Automotive Lead Acid Battery Market Size 2023	USD 896.60 million
South Korea Automotive Lead Acid Battery Market, CAGR	8.8%
South Korea Automotive Lead Acid Battery Market Size 2032	USD 1,913.21 million

Market Overview

South Korea Automotive Lead Acid Battery market size was valued at USD 896.60 million in 2023 and is anticipated to reach USD 1,913.21 million by 2032, at a CAGR of 8.8% during the forecast period (2023-2032).

The South Korea automotive lead-acid battery market is driven by the rising demand for vehicles, including both traditional internal combustion engine (ICE) and electric vehicles (EVs). As the automotive industry evolves, lead-acid batteries continue to play a crucial role in powering vehicle systems and providing cost-effective energy storage solutions. The growing adoption of hybrid and electric vehicles, fueled by the government’s push for eco-friendly transportation options, further boosts the market. Additionally, the automotive sector’s need for reliable and affordable battery technology to support start-stop systems, lighting, and other power functions reinforces the demand for lead-acid batteries. Technological advancements, including enhanced battery performance and longer lifespan, are also contributing to market growth. With a focus on sustainability and the ongoing shift toward energy-efficient vehicles, South Korea’s automotive lead-acid battery market is expected to expand steadily during the forecast period.

The South Korea automotive lead-acid battery market is primarily concentrated in key regions such as the Seoul Metropolitan Area, Gyeonggi Province, Busan, Ulsan, and Daegu. These areas host major automotive manufacturing hubs and benefit from robust infrastructure, driving demand for automotive batteries, particularly in passenger and commercial vehicles. Leading players in the market include GS Yuasa Corporation, LG Energy Solution, Clarios, and Korea Electric Power Corporation, which dominate the industry with their advanced battery technologies and extensive product portfolios. Other notable companies include EnerSys, Woojin Industrial Co., Ltd., and LG Chem, contributing to the market’s competitiveness with a range of reliable lead-acid batteries suited for various automotive applications. These companies continue to innovate in response to increasing consumer demand for efficient, sustainable, and high-performance battery solutions, positioning themselves as key contributors to South Korea’s automotive lead-acid battery market.

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Market Insights

The South Korea automotive lead-acid battery market was valued at USD 896.60 million in 2023 and is projected to reach USD 1,913.21 million by 2032, growing at a CAGR of 8.8% during the forecast period.

The Global Automotive Lead Acid Battery market was valued at USD 21,181.34 million in 2023 and is expected to reach USD 43,052.54 million by 2032, growing at a CAGR of 8.2% from 2023 to 2032.
Increasing adoption of start-stop systems in vehicles is a key driver, boosting the demand for lead-acid batteries due to their cost-effectiveness and efficiency.

Technological advancements in lead-acid battery types, such as Enhanced Flooded Batteries (EFB) and Absorbent Glass Mat (AGM), are shaping market trends.
Competition from alternative technologies like lithium-ion batteries for electric vehicles presents a challenge to lead-acid battery growth.
The South Korean market is highly concentrated in regions like Seoul, Gyeonggi, and Busan, with a significant presence of major automotive manufacturers.
Major players include GS Yuasa, LG Energy Solution, Clarios, and EnerSys, driving innovation in battery technology and performance.
Environmental concerns around battery recycling are influencing the industry, leading to stricter regulations and sustainability practices.

Report Scope

This report segments the South Korea Automotive Lead Acid Battery Market as follows:

Market Drivers

Increasing Vehicle Production and Sales

The growing demand for vehicles in South Korea is one of the key drivers of the automotive lead-acid battery market. With a well-established automotive industry, South Korea has become a hub for both local vehicle production and exports. As the automotive sector continues to thrive, the need for automotive batteries, including lead-acid batteries, remains significant. For instance, South Korea’s government has committed 21 trillion won in financial support to boost eco-friendly vehicles and battery industries. Lead-acid batteries are commonly used in both traditional internal combustion engine (ICE) vehicles and hybrid electric vehicles (HEVs), as they are cost-effective, reliable, and readily available. The continued increase in vehicle production and sales, driven by both domestic consumption and export demands, supports the strong demand for automotive lead-acid batteries in the region.

Growth in Electric and Hybrid Vehicle Adoption

The transition towards electric and hybrid vehicles is a significant market driver for automotive lead-acid batteries in South Korea. As governments worldwide, including South Korea, implement stringent environmental regulations and policies to reduce carbon emissions, the adoption of electric vehicles (EVs) and hybrid vehicles has surged. For instance, South Korea aims to deploy 4.5 million battery electric vehicles (BEVs) and fuel cell electric vehicles (FCEVs) by 2030. Lead-acid batteries, though not the primary choice for pure EVs, still play a critical role in HEVs and in certain types of energy storage systems in EVs. Their ability to provide power for vehicle start-stop systems, interior functions, and auxiliary power requirements supports their continued use in the emerging EV market. The government’s incentives, including subsidies for EV purchases and investment in charging infrastructure, further promote the adoption of green vehicles, thereby boosting the demand for automotive batteries.

Technological Advancements in Battery Efficiency

Technological advancements in battery efficiency and performance have been pivotal in driving the demand for lead-acid batteries in the automotive sector. Manufacturers are increasingly focusing on improving battery lifespan, charging time, and energy density, ensuring that lead-acid batteries remain competitive with other battery technologies. Innovations such as advanced lead-acid batteries and enhancements in the overall design, like sealed maintenance-free batteries, have led to better performance, longer service life, and reduced maintenance needs. As vehicle manufacturers demand more reliable and efficient battery solutions, the role of lead-acid batteries continues to evolve, and their market penetration in South Korea’s automotive sector increases. These innovations contribute to the ongoing preference for lead-acid batteries in various automotive applications.

Cost-Effectiveness and Affordability

One of the most compelling factors driving the South Korean automotive lead-acid battery market is their cost-effectiveness. Compared to alternative battery technologies like lithium-ion batteries, lead-acid batteries are significantly more affordable, making them an attractive option for both consumers and manufacturers. This affordability is particularly important in a competitive automotive market, where price sensitivity remains a crucial consideration. The automotive industry in South Korea, which includes large manufacturers such as Hyundai and Kia, relies on cost-effective solutions to maintain profitability while meeting stringent environmental and safety standards. As a result, the demand for lead-acid batteries, which provide a lower upfront cost without sacrificing reliability, remains strong. This trend is expected to continue, especially in the context of rising vehicle production volumes and the increasing demand for budget-friendly vehicles.

Market Trends

Emergence of Advanced Lead-Acid Battery Technologies

Technological advancements are enhancing the performance and efficiency of lead-acid batteries. Innovations such as Enhanced Flooded Batteries (EFBs) and Absorbent Glass Mat (AGM) batteries are gaining traction due to their improved charge acceptance and longer cycle life. For instance, South Korea’s battery innovation strategy focuses on commercializing next-generation batteries, including lithium-sulfur and solid-state batteries by 2025 and 2027. These developments make lead-acid batteries more suitable for modern vehicles, particularly those with regenerative braking systems and start-stop functionalities. The shift towards these advanced battery types reflects the industry’s commitment to meeting the evolving demands of the automotive sector.

Initiatives and Policy Support

The South Korean government’s proactive policies are fostering the growth of the automotive lead-acid battery market. Initiatives aimed at modernizing energy storage capabilities and promoting energy efficiency create opportunities for lead-acid battery applications in various sectors. For instance, South Korea’s National Strategy for Carbon Neutrality and Green Growth aims to deploy 4.5 million battery electric vehicles (BEVs) and fuel cell electric vehicles (FCEVs) by 2030. Additionally, investments in public safety infrastructure and road networks support the integration of advanced battery technologies in automotive systems. These government-backed efforts are instrumental in driving market expansion and encouraging innovation within the industry.

Integration of Start-Stop Systems

The increasing adoption of start-stop technology in vehicles is significantly influencing the demand for automotive lead-acid batteries in South Korea. This technology, which automatically shuts down and restarts the engine to reduce fuel consumption and emissions, relies heavily on the performance of lead-acid batteries. Their ability to handle frequent charge and discharge cycles makes them ideal for such applications. For instance, Hyundai’s introduction of the ‘Venue N Line’ model equipped with an auto start-stop system underscores this trend. As more automakers incorporate start-stop systems to meet environmental regulations, the reliance on lead-acid batteries is expected to grow, thereby driving market expansion.

Environmental Considerations and Recycling Efforts

Environmental concerns are increasingly influencing the automotive lead-acid battery market in South Korea. The industry is facing pressure to address issues related to lead usage and disposal, prompting stricter regulations and safety standards. In response, there is a growing emphasis on battery recycling infrastructure to comply with environmental requirements and support sustainability efforts. These initiatives not only mitigate the environmental impact but also enhance consumer confidence in lead-acid battery technologies, ensuring the market’s long-term viability.

Market Challenges Analysis

Environmental Concerns and Regulations

One of the key challenges facing the South Korea automotive lead-acid battery market is the growing environmental concern regarding the disposal and recycling of lead. Lead is a toxic substance, and improper disposal of lead-acid batteries can lead to significant environmental hazards. For instance, South Korea’s Ministry of Environment has unveiled plans to reclassify waste batteries from electric vehicles (EVs) as recyclable resources, exempting them from the Waste Control Act. As environmental regulations become increasingly stringent, especially in the context of sustainable practices in the automotive industry, manufacturers face pressure to ensure that their products comply with these regulations. South Korea, being an environmentally conscious nation, has implemented strict laws for battery disposal and recycling. Meeting these regulations while maintaining the affordability and efficiency of lead-acid batteries presents a significant challenge for manufacturers, who must invest in more advanced recycling technologies and adhere to evolving standards.

Competition from Alternative Battery Technologies

The competition from alternative battery technologies, particularly lithium-ion batteries, poses another significant challenge to the automotive lead-acid battery market in South Korea. While lead-acid batteries are widely used due to their cost-effectiveness and reliability, lithium-ion batteries are gaining traction in the automotive sector, especially for electric vehicles (EVs). Lithium-ion batteries offer higher energy density, longer life, and a smaller form factor compared to lead-acid batteries, making them a preferred choice for modern EVs. As South Korea continues to push for greener and more energy-efficient solutions, the market for lead-acid batteries faces intense competition from these newer technologies. Manufacturers in the automotive sector must balance the benefits of lead-acid batteries with the growing shift towards more advanced, sustainable alternatives.

Market Opportunities

The South Korea automotive lead-acid battery market presents several opportunities driven by the increasing adoption of advanced automotive technologies and government incentives. As South Korea continues to promote eco-friendly transportation solutions, the demand for hybrid electric vehicles (HEVs) and electric vehicles (EVs) is expected to rise. Although lithium-ion batteries dominate the EV sector, lead-acid batteries remain a key component in hybrid vehicles and in applications such as start-stop systems, energy storage, and auxiliary power functions. This growing trend of incorporating green technologies offers manufacturers in the lead-acid battery sector the opportunity to cater to the expanding hybrid and electric vehicle market. Furthermore, advancements in lead-acid battery technologies, such as enhanced flooded batteries (EFBs) and absorbent glass mat (AGM) batteries, open new opportunities for increased performance and longer battery life in automotive applications, thus enhancing market growth.

Another significant opportunity arises from the increasing focus on battery recycling and sustainability initiatives. South Korea’s commitment to improving environmental standards and promoting circular economies presents a growing market for battery recycling services. Lead-acid batteries, due to their established recycling processes, offer an opportunity for companies to innovate in battery reclamation and reuse. By leveraging sustainable practices and developing effective recycling infrastructure, manufacturers can meet regulatory requirements while contributing to environmental protection. Additionally, government-backed policies that encourage the development of green technologies and the reduction of emissions further enhance the prospects for lead-acid battery manufacturers. As these opportunities unfold, companies that can adapt to the evolving regulatory landscape and technological advancements will be well-positioned for long-term success in South Korea’s automotive lead-acid battery market.

Market Segmentation Analysis:

By Battery Type:

The South Korea automotive lead-acid battery market is segmented by battery type, with key categories including Flooded, SLI (Starting, Lighting, and Ignition), Absorbent Glass Mat (AGM), and Enhanced Flooded Batteries (EFB). Among these, flooded batteries remain the most commonly used due to their cost-effectiveness and reliability. They are widely utilized in traditional internal combustion engine (ICE) vehicles and commercial applications. However, the demand for AGM and EFB batteries is increasing due to their superior performance in start-stop systems and energy storage applications, which are essential in modern vehicles with advanced power management technologies. AGM batteries, with their ability to handle higher electrical loads, are gaining traction in premium and high-performance vehicles, offering longer battery life and improved charge acceptance. EFB batteries, an advanced version of flooded batteries, are also becoming popular in mid-range vehicles that incorporate stop-start technologies. This trend indicates a growing preference for high-performance and durable batteries across different automotive segments.

By End Use:

The South Korea automotive lead-acid battery market is also segmented by end use, with key categories including passenger cars, light and heavy commercial vehicles, and two- and three-wheelers. Passenger cars dominate the market, driven by their widespread use and the ongoing demand for reliable battery solutions. In recent years, the adoption of advanced automotive technologies, such as start-stop systems, in passenger vehicles has further boosted the demand for lead-acid batteries. Light and heavy commercial vehicles are another significant segment, as these vehicles require robust, reliable batteries to power various systems such as lighting, signaling, and heavy-duty engines. The two- and three-wheeler market, while smaller in comparison, presents opportunities due to the growing demand for efficient, cost-effective battery solutions in urban mobility and delivery services. This diverse end-use landscape allows manufacturers to tailor their products to meet the specific needs of different vehicle types, ensuring continued growth in the South Korean automotive lead-acid battery market.

Segments:

Based on Battery Type:

Flooded
SLI
Absorbent Glass Mat
Enhanced Flooded Battery

Based on End Use:

Passenger cars
Light and heavy commercial vehicles
2 & 3 Wheelers

Based on Customer:

OEM
Aftermarket

Based on the Geography:

Seoul Metropolitan Region
Gyeonggi Province
Busan and Ulsan Regions
Daegu Region

Regional Analysis

Seoul Metropolitan Region

The Seoul Metropolitan Region holds the largest market share in the South Korea automotive lead-acid battery market, accounting for approximately 40% of the total market in 2023. This region, which includes Seoul, Incheon, and surrounding areas, is the heart of South Korea’s automotive industry. The presence of major automotive manufacturers, research centers, and a dense population has contributed to the high demand for automotive batteries. The region’s strong infrastructure and high vehicle ownership rates further drive the demand for lead-acid batteries, particularly for passenger cars and light commercial vehicles. Additionally, the Seoul Metropolitan Area is a major hub for the electric and hybrid vehicle market, increasing the demand for advanced lead-acid batteries used in start-stop systems and other vehicle applications. As the region continues to focus on sustainability and eco-friendly transportation, the market share of lead-acid batteries is expected to maintain its dominance.

Gyeonggi Province

Gyeonggi Province, encompassing the areas surrounding Seoul, holds a market share of approximately 25% of the South Korean automotive lead-acid battery market. The province benefits from its proximity to Seoul, as it hosts several key automotive manufacturing facilities and logistics hubs. It also plays a pivotal role in the production of vehicles, especially for commercial applications. Gyeonggi’s automotive market is diverse, with high demand for lead-acid batteries in light and heavy commercial vehicles. The increased use of vehicles in industrial and transportation sectors significantly contributes to the market share in this region. As South Korea pushes toward more sustainable vehicle technologies, Gyeonggi Province is also witnessing an uptick in demand for hybrid and electric vehicles, which utilize advanced lead-acid batteries in various functions.

Busan and Ulsan Regions

The Busan and Ulsan regions together account for approximately 18% of the South Korean automotive lead-acid battery market. These areas are key industrial centers, with Ulsan being home to the world’s largest automobile manufacturing plant, operated by Hyundai. The high concentration of automotive production in this region creates a steady demand for lead-acid batteries, both for new vehicles and for after-market applications. Furthermore, Busan’s role as a major port city contributes to the demand for heavy-duty commercial vehicles, which use lead-acid batteries extensively. The continued industrial development and focus on the automotive sector in these regions support the market’s growth, despite the increasing competition from alternative battery technologies.

Daegu Region

The Daegu region holds a smaller market share of approximately 7% in the South Korean automotive lead-acid battery market. While Daegu is an important center for the automotive industry, particularly for small and medium-sized enterprises (SMEs), it has a relatively lower demand compared to the Seoul Metropolitan Area or Gyeonggi Province. However, the region is gradually increasing its footprint in the automotive sector, driven by local manufacturers and a focus on vehicle production for regional markets. Lead-acid batteries are commonly used in passenger vehicles and light commercial vehicles, although the region’s automotive market is not as large as those in other major industrial hubs. Despite the smaller share, the region presents potential for growth, especially with ongoing advancements in automotive technologies and increasing vehicle ownership rates.

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Key Player Analysis

GS Yuasa Corporation
LG Energy Solution
Clarios
Korea Electric Power Corporation
Samyoung Battery Co., Ltd.
EnerSys
Woojin Industrial Co., Ltd.
LG Chem
Hanwa Techwin (Formerly Samsung Techwin)
SK Innovation
Johnson Controls
Robert Bosch LLC

Competitive Analysis

The South Korea automotive lead-acid battery market is highly competitive, with key players like GS Yuasa Corporation, LG Energy Solution, Clarios, Korea Electric Power Corporation, Samyoung Battery Co., Ltd., EnerSys, Woojin Industrial Co., Ltd., LG Chem, Hanwa Techwin (Formerly Samsung Techwin), SK Innovation, Johnson Controls, and Robert Bosch LLC. These companies dominate the market by offering a diverse range of high-performance batteries tailored for both passenger and commercial vehicles. These technologies cater to the growing demand for start-stop systems in modern vehicles and provide higher performance and longer lifespan compared to traditional flooded batteries. Competitive strategies also include investing in sustainable practices, particularly in battery recycling, to meet strict environmental regulations. Players are leveraging their extensive R&D capabilities to improve charge acceptance, cycle life, and energy density of their products. Additionally, market leaders are expanding their production capacities to meet the increasing demand from both domestic and international markets. Strategic partnerships and collaborations with automotive manufacturers further strengthen their competitive position. With a strong focus on cost-effectiveness, product innovation, and sustainability, companies are well-positioned to capture a significant share of South Korea’s automotive lead-acid battery market.

Recent Developments

In November 2024, EnerSys showcased the iQ Mini™ battery monitoring device and maintenance-free NexSys® Thin Plate Pure Lead (TPPL) batteries, which offer longer service life and faster recharge rates.
In July 2024, Exide Industries Ltd. introduced an advanced Absorbent Glass Mat (AGM) battery for Starting, Lighting, and Ignition (SLI) applications in the automotive market. This new battery is designed to deliver enhanced performance, including improved starting power, and potentially longer lifespan compared to traditional lead-acid batteries.
In August 2023, Clarios, a global leader in advanced low-voltage battery manufacturing and recycling, is acquiring Paragon GmbH & Co. KGaA’s power business, which specializes in batteries and battery management systems for the automotive industry. This acquisition enhances Clarios’ engineering capabilities and supports its low-voltage and lithium-ion projects, significantly expanding the team dedicated to developing new low-voltage architectures.
In May 2023, C&D Technologies, Inc. introduced the Pure Lead Max (PLM) VRLA battery, designed for long lifespan and improved performance in UPS and data center applications.
In April 2023, the acquisition of IBCS by EnerSys is a strategic move to expand its motive power services and strengthen its presence in the UK market. This addition will enhance EnerSys’s range of battery-related services, including installation, maintenance, repair, and replacement.

Market Concentration & Characteristics

The South Korea automotive lead-acid battery market exhibits moderate concentration, with several key players holding significant shares, but also allowing room for smaller manufacturers to compete. The market is characterized by a high degree of technological innovation, particularly in the development of advanced battery types such as Enhanced Flooded Batteries (EFB) and Absorbent Glass Mat (AGM). These innovations cater to the growing demand for efficient, reliable, and high-performance batteries, especially for vehicles with start-stop systems and hybrid models. The market’s characteristics are also shaped by the increasing emphasis on sustainability and environmental regulations, leading to a focus on recycling and reducing the environmental impact of lead-acid batteries. Competitive dynamics are further influenced by the global supply chain and strategic partnerships with automotive manufacturers. With a strong focus on R&D, cost-effectiveness, and performance improvements, the market continues to evolve, driven by both domestic demand and international market expansion.

Report Coverage

The research report offers an in-depth analysis based on Battery Type, End Use, Customer and Geography. It details leading market players, providing an overview of their business, product offerings, investments, revenue streams, and key applications. Additionally, the report includes insights into the competitive environment, SWOT analysis, current market trends, as well as the primary drivers and constraints. Furthermore, it discusses various factors that have driven market expansion in recent years. The report also explores market dynamics, regulatory scenarios, and technological advancements that are shaping the industry. It assesses the impact of external factors and global economic changes on market growth. Lastly, it provides strategic recommendations for new entrants and established companies to navigate the complexities of the market.

Future Outlook

The South Korea automotive lead-acid battery market is expected to grow steadily due to increasing demand for efficient power solutions in vehicles.
The adoption of start-stop technology in vehicles will continue to drive the demand for advanced lead-acid batteries like Enhanced Flooded Batteries (EFB) and Absorbent Glass Mat (AGM).
Regulatory pressures related to environmental sustainability will encourage manufacturers to invest in battery recycling and reduce the environmental impact of production.
The growing market for hybrid and electric vehicles will create opportunities for lead-acid batteries in energy storage and auxiliary power applications.
Increased investments in research and development will focus on enhancing battery performance, including longer lifespan, faster charging, and better charge acceptance.
Technological advancements will continue to improve battery efficiency, making lead-acid batteries more competitive with newer energy storage technologies.
The market is likely to see a shift toward localized production as South Korea strives to reduce reliance on imported materials for battery manufacturing.
With the rising number of vehicles, the aftermarket demand for lead-acid batteries will continue to expand, contributing to sustained market growth.
The focus on energy-efficient vehicles will support the continued demand for lead-acid batteries, especially in commercial and passenger vehicle sectors.
The South Korean automotive lead-acid battery market will witness increasing consolidation, as larger companies strengthen their market positions through strategic partnerships and acquisitions.

CHAPTER NO. 1 : INTRODUCTION 19

1.1. Report Description 19

Purpose of the Report 19

USP & Key Offerings 19

1.2. Key Benefits for Stakeholders 19

1.3. Target Audience 20

1.4. Report Scope 20

CHAPTER NO. 2 : EXECUTIVE SUMMARY 21

2.1. Automotive Lead Acid Battery Market Snapshot 21

2.2. South Korea Automotive Lead Acid Battery Market, 2018 – 2032 (USD Million) 22

2.1. Insights from Primary Respondents 22

CHAPTER NO. 3 : GEOPOLITICAL CRISIS IMPACT ANALYSIS 23

3.1. Russia-Ukraine and Israel-Palestine War Impacts 23

CHAPTER NO. 4 : AUTOMOTIVE LEAD ACID BATTERY MARKET – INDUSTRY ANALYSIS 24

4.1. Introduction 24

4.2. Market Drivers 25

4.3. Driving Factor 1 Analysis 25

4.4. Driving Factor 2 Analysis 26

4.5. Market Restraints 27

4.6. Restraining Factor Analysis 27

4.7. Market Opportunities 28

4.8. Market Opportunity Analysis 28

4.9. Porter’s Five Force analysis 29

4.10. Value Chain Analysis 30

4.11. Buying Criteria 31

CHAPTER NO. 5 : ANALYSIS COMPETITIVE LANDSCAPE 32

5.1. Company Market Share Analysis – 2023 32

5.1.1. South Korea Automotive Lead Acid Battery Market: Company Market Share, by Revenue & Volume, 2023 32

5.1.2. South Korea Automotive Lead Acid Battery Market: Top 6 Company Market Share, by Revenue & Volume, 2023 32

5.1.3. South Korea Automotive Lead Acid Battery Market: Top 3 Company Market Share, by Revenue & Volume, 2023 33

5.2. South Korea Automotive Lead Acid Battery Market Company Revenue Market Share, 2023 34

5.3. Company Assessment Metrics, 2023 36

5.3.1. Stars 36

5.3.2. Emerging Leaders 36

5.3.3. Pervasive Players 36

5.3.4. Participants 36

5.4. Start-ups /Aftermarket Assessment Metrics, 2023 36

5.4.1. Progressive Companies 36

5.4.2. Responsive Companies 36

5.4.3. Dynamic Companies 36

5.4.4. Starting Blocks 36

5.5. Strategic Developments 37

5.5.1. Acquisitions & Mergers 37

New Product Launch 37

Regional Expansion 37

5.6. Key Players End Use Matrix 38

CHAPTER NO. 6 : PESTEL & ADJACENT MARKET ANALYSIS 39

6.1. PESTEL 39

6.1.1. Political Factors 39

6.1.2. Economic Factors 39

6.1.3. Social Factors 39

6.1.4. Technological Factors 39

6.1.5. Environmental Factors 39

6.1.6. Legal Factors 39

6.2. Adjacent Market Analysis 39

CHAPTER NO. 7 : AUTOMOTIVE LEAD ACID BATTERY MARKET – BY BATTERY TYPE SEGMENT ANALYSIS 40

7.1. Automotive Lead Acid Battery Market Overview, by Battery Type Segment 40

7.1.1. Automotive Lead Acid Battery Market Revenue Share, By Battery Type, 2023 & 2032 41

7.1.2. Automotive Lead Acid Battery Market Attractiveness Analysis, By Battery Type 42

7.1.3. Incremental Revenue Growth Opportunity, by Battery Type, 2024 – 2032 42

7.1.4. Automotive Lead Acid Battery Market Revenue & Volume, By Battery Type, 2018, 2023, 2027 & 2032 43

7.2. Flooded 44

7.3. SLI 45

7.4. Absorbent Glass Mat 46

7.5. Enhanced Flooded Battery 47

CHAPTER NO. 8 : AUTOMOTIVE LEAD ACID BATTERY MARKET – BY END USE SEGMENT ANALYSIS 48

8.1. Automotive Lead Acid Battery Market Overview, by End Use Segment 48

8.1.1. Automotive Lead Acid Battery Market Revenue Share, By End Use, 2023 & 2032 49

8.1.2. Automotive Lead Acid Battery Market Attractiveness Analysis, By End Use 50

8.1.3. Incremental Revenue Growth Opportunity, by End Use, 2024 – 2032 50

8.1.4. Automotive Lead Acid Battery Market Revenue & Volume, By End Use, 2018, 2023, 2027 & 2032 51

8.2. Passenger cars 52

8.3. Light and heavy commercial vehicles 53

8.4. 2 & 3 Wheelers 54

CHAPTER NO. 9 : AUTOMOTIVE LEAD ACID BATTERY MARKET – BY CUSTOMER SEGMENT ANALYSIS 55

9.1. Automotive Lead Acid Battery Market Overview, by Customer Segment 55

9.1.1. Automotive Lead Acid Battery Market Revenue Share, By Customer, 2023 & 2032 56

9.1.2. Automotive Lead Acid Battery Market Attractiveness Analysis, By Customer 57

9.1.3. Incremental Revenue Growth Opportunity, by Customer, 2024 – 2032 57

9.1.4. Automotive Lead Acid Battery Market Revenue & Volume, By Customer, 2018, 2023, 2027 & 2032 58

9.2. OEM 59

9.3. Aftermarket 60

CHAPTER NO. 10 : AUTOMOTIVE LEAD ACID BATTERY MARKET – SOUTH KOREA 61

10.1. South Korea 61

10.1.1. Key Highlights 61

10.2. Battery Type 62

10.3. South Korea Automotive Lead Acid Battery Market Revenue & Volume, By Battery Type, 2018 – 2023 (USD Million) (Million Units) 62

10.4. South Korea Automotive Lead Acid Battery Market Revenue & Volume, By Battery Type, 2024 – 2032 (USD Million) (Million Units) 62

10.5. End Use 63

10.6. South Korea Automotive Lead Acid Battery Market Revenue & Volume, By End Use, 2018 – 2023 (USD Million) (Million Units) 63

10.6.1. South Korea Automotive Lead Acid Battery Market Revenue & Volume, By End Use, 2024 – 2032 (USD Million) (Million Units) 63

10.7. Customer 64

10.7.1. South Korea Automotive Lead Acid Battery Market Revenue & Volume, By Customer, 2018 – 2023 (USD Million) (Million Units) 64

10.7.2. South Korea Automotive Lead Acid Battery Market Revenue & Volume, By Customer, 2024 – 2032 (USD Million) (Million Units) 64

CHAPTER NO. 11 : COMPANY PROFILES 65

11.1. GS Yuasa Corporation 65

11.1.1. Company Overview 65

11.1.2. End Use Portfolio 65

11.1.3. Swot Analysis 65

11.2. Business Strategy 66

11.3. Financial Overview 66

11.4. LG Energy Solution 67

11.5. Clarios 67

11.6. Korea Electric Power Corporation 67

11.7. Samyoung Battery Co., Ltd. 67

11.8. EnerSys 67

11.9. Woojin Industrial Co., Ltd. 67

11.10. LG Chem 67

11.11. Hanwa Techwin (Formerly Samsung Techwin) 67

11.12. SK Innovation. 67

11.13. Johnson Controls 67

11.14. Robert Bosch LLC 67

11.15. Company 14 67

11.16. Company 15 67

11.17. Others 67

List of Figures

FIG NO. 1. South Korea Automotive Lead Acid Battery Market Revenue & Volume, 2018 – 2032 (USD Million) 21

FIG NO. 2. Porter’s Five Forces Analysis for South Korea Automotive Lead Acid Battery Market 28

FIG NO. 3. Value Chain Analysis for South Korea Automotive Lead Acid Battery Market 29

FIG NO. 4. Company Share Analysis, 2023 31

FIG NO. 5. Company Share Analysis, 2023 31

FIG NO. 6. Company Share Analysis, 2023 32

FIG NO. 7. Automotive Lead Acid Battery Market – Company Revenue Market Share, 2023 33

FIG NO. 8. Automotive Lead Acid Battery Market – Company Volume Market Share, 2023 34

FIG NO. 9. Automotive Lead Acid Battery Market Revenue Share, By Battery Type, 2023 & 2032 40

FIG NO. 10. Market Attractiveness Analysis, By Battery Type 41

FIG NO. 11. Incremental Revenue Growth Opportunity by Battery Type, 2024 – 2032 41

FIG NO. 12. Automotive Lead Acid Battery Market Revenue & Volume, By Battery Type, 2018, 2023, 2027 & 2032 42

FIG NO. 13. South Korea Automotive Lead Acid Battery Market for Flooded, Revenue (USD Million) 2018 – 2032 43

FIG NO. 14. South Korea Automotive Lead Acid Battery Market for SLI, Revenue (USD Million) 2018 – 2032 44

FIG NO. 15. South Korea Automotive Lead Acid Battery Market for Absorbent Glass Mat, Revenue (USD Million) 2018 – 2032 45

FIG NO. 16. South Korea Automotive Lead Acid Battery Market for Enhanced Flooded Battery, Revenue (USD Million) 2018 – 2032 46

FIG NO. 17. Automotive Lead Acid Battery Market Revenue Share, By End Use, 2023 & 2032 48

FIG NO. 18. Market Attractiveness Analysis, By End Use 49

FIG NO. 19. Incremental Revenue Growth Opportunity by End Use, 2024 – 2032 49

FIG NO. 20. Automotive Lead Acid Battery Market Revenue & Volume, By End Use, 2018, 2023, 2027 & 2032 50

FIG NO. 21. South Korea Automotive Lead Acid Battery Market for Passenger cars, Revenue (USD Million) 2018 – 2032 51

FIG NO. 22. South Korea Automotive Lead Acid Battery Market for Light and heavy commercial vehicles, Revenue (USD Million) 2018 – 2032 52

FIG NO. 23. South Korea Automotive Lead Acid Battery Market for 2 & 3 Wheelers, Revenue (USD Million) 2018 – 2032 53

FIG NO. 24. Automotive Lead Acid Battery Market Revenue Share, By Customer, 2023 & 2032 55

FIG NO. 25. Market Attractiveness Analysis, By Customer 56

FIG NO. 26. Incremental Revenue Growth Opportunity by Customer, 2024 – 2032 56

FIG NO. 27. Automotive Lead Acid Battery Market Revenue & Volume, By Customer, 2018, 2023, 2027 & 2032 57

FIG NO. 28. South Korea Automotive Lead Acid Battery Market for OEM, Revenue (USD Million) 2018 – 2032 58

FIG NO. 29. South Korea Automotive Lead Acid Battery Market for Aftermarket, Revenue (USD Million) 2018 – 2032 59

FIG NO. 30. South Korea Automotive Lead Acid Battery Market Revenue & Volume, 2018 – 2032 (USD Million) 60

List of Tables

TABLE NO. 1. : South Korea Automotive Lead Acid Battery Market: Snapshot 20

TABLE NO. 2. : Drivers for the Automotive Lead Acid Battery Market: Impact Analysis 24

TABLE NO. 3. : Restraints for the Automotive Lead Acid Battery Market: Impact Analysis 26

TABLE NO. 4. : South Korea Automotive Lead Acid Battery Market Revenue & Volume, By Battery Type, 2018 – 2023 (USD Million) (Million Units) 61

TABLE NO. 5. : South Korea Automotive Lead Acid Battery Market Revenue & Volume, By Battery Type, 2024 – 2032 (USD Million) (Million Units) 61

TABLE NO. 6. : South Korea Automotive Lead Acid Battery Market Revenue & Volume, By End Use, 2018 – 2023 (USD Million) (Million Units) 62

TABLE NO. 7. : South Korea Automotive Lead Acid Battery Market Revenue & Volume, By End Use, 2024 – 2032 (USD Million) (Million Units) 62

TABLE NO. 8. : South Korea Automotive Lead Acid Battery Market Revenue & Volume, By Customer, 2018 – 2023 (USD Million) (Million Units) 63

TABLE NO. 9. : South Korea Automotive Lead Acid Battery Market Revenue & Volume, By Customer, 2024 – 2032 (USD Million) (Million Units) 63

Frequently Asked Questions

What is the current size of the South Korea Automotive Lead Acid Battery?

The South Korea automotive lead-acid battery market was valued at USD 896.60 million in 2023 and is projected to reach USD 1,913.21 million by 2032, growing at a CAGR of 8.8%.

What factors are driving the growth of the South Korea Automotive Lead Acid Battery?

Key drivers include rising vehicle production, adoption of start-stop systems, government support for eco-friendly transport, and battery technology advancements.

What are some challenges faced by the South Korea Automotive Lead Acid Battery?

Challenges include environmental regulations on battery disposal and growing competition from lithium-ion battery technologies.

Who are the major players in the South Korea Automotive Lead Acid Battery?

Major players include GS Yuasa Corporation, LG Energy Solution, Clarios, Korea Electric Power Corporation, EnerSys, and Woojin Industrial Co., Ltd.

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