Mexico Advanced Lead Acid Battery Market Research Report, 2029

Mexico's advanced lead acid battery market is comparable to Brazil in terms of size and growth potential. While Brazil has a larger automotive industry, which could indicate more demand for such batteries, Mexico stays competitive due to its significant market presence. The Mexican market, while equivalent in size to Brazil's, may not be as large as the automotive sector, but it has tremendous growth potential. This shows that, while Brazil has a larger immediate market, Mexico's market remains significant and set for growth. The competitive environment between the two countries suggests that, while Brazil may lead in some areas, Mexico maintains its position in others, demonstrating a balanced regional dynamic. Mexico's reputation as a leading producer provides some assurance that raw materials will be available for domestic battery production. This self-sufficiency stabilises the manufacturing process by lowering dependency on external sources for crucial materials. Despite its lead production capacity, Mexico is dependent on global lead markets, leaving its domestic battery industry vulnerable to price changes. The contrast between home production and global dependency highlights the importance of strategic resource management in mitigating the influence of external market forces on the local industry. According to the research report “ Mexico Advanced Lead Acid Battery Market Research Report, 2029," published by Actual Market Research, the Mexico Advanced Lead Acid Battery market is forecasted to value at more than 1100 Million by 2029. Mexico's automobile sector is robust, particularly in the commercial vehicle segment, and relies significantly on modern lead acid batteries for critical tasks such as starting, lighting, and ignition systems. This dependency emphasises the critical role of these batteries in the automobile industry, providing a dependable and cost-effective alternative for powering vehicles across the nation. Despite rising interest in electric vehicles (EVs), the higher upfront costs associated with lithium-ion batteries pose a substantial barrier to mainstream deployment. As a result, improved lead acid batteries continue to dominate the market due to their low cost and compatibility with current infrastructure, providing a practical solution to the EV conundrum. To effectively meet automobile demand in this changing setting, a careful balance must be struck between embracing new technologies and using current infrastructure. The move to renewable energy sources presents infrastructure issues, particularly the integration of modern lead acid battery storage into the country's power grid. Upgrading Mexico's power grid infrastructure to support renewable energy sources and advanced battery storage necessitates significant investment and strategic planning. This shift is critical for increasing energy efficiency, lowering carbon emissions, and promoting environmentally friendly energy practices. Overcoming infrastructure difficulties necessitates collaborative efforts from both the public and commercial sectors to upgrade and improve energy distribution systems, assuring seamless integration of renewable energy sources and innovative battery storage technologies.

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Lead-acid batteries come in various types tailored for specific applications. Motive lead-acid batteries, also known as traction batteries, are designed for electric vehicles (EVs) and other motive applications, offering high-power output necessary for propulsion. In contrast, stationary lead-acid batteries cater to fixed applications such as backup power and energy storage needs. Among the types based on construction method, Valve Regulated Lead Acid (VRLA) batteries feature sealed construction with a valve mechanism, providing advantages in maintenance, safety, and versatility compared to traditional Flooded Lead Acid (FLA) batteries, which utilise a liquid electrolyte solution. These distinctions cater to different end-user industries, including automotive and transportation sectors relying on motive batteries for EVs, utilities employing stationary batteries for grid stability, and industrial and commercial/residential sectors utilising batteries for backup power and other stationary applications. Each type serves specific needs within these industries, with VRLA batteries gaining popularity due to their sealed design and maintenance benefits, while FLA batteries remain relevant for applications requiring robust performance with liquid electrolytes. This segmentation highlights the diverse range of lead-acid battery options available to meet the varying demands of different industries and applications. Mexico's legislative and regulatory framework influence the trajectory of the automobile and energy sectors. Environmental standards for lead battery recycling demonstrate the country's commitment to sustainability and environmental management. Mexico hopes to reduce environmental impact while increasing resource efficiency in the battery business by supporting ethical recycling techniques. Import/export factors, such as standard requirements and potential anti-dumping tariffs, also have an impact on the market price and supply of batteries. These rules underline the importance of strategic planning and compliance measures in navigating trade dynamics and supporting Mexico's automotive and energy sectors. Mexico's government attempts to promote renewable energy and electric mobility are indirectly benefiting the advanced lead acid battery market, notably for grid storage and hybrid vehicle applications. These initiatives provide a favourable climate for the adoption of improved lead acid batteries by stimulating the move to more sustainable energy alternatives. Furthermore, Mexico's free trade agreements with numerous nations allow for the import and export of modern lead acid batteries, which promotes market growth and international trade contacts in this industry. The advanced lead acid battery market in Mexico has grown significantly in recent years. Notably, in 2022, Bombardier Recreational Products announced a USD 65 million investment in an electric vehicle (EV) battery and electric motorcycle plant in Queretaro. This investment represents a significant move toward electric mobility solutions, with the possibility to use improved lead acid batteries for a variety of applications. Furthermore, there is a growing emphasis on sustainability in the sector, with rising awareness spurring programs aimed at battery recycling. This trend demonstrates the industry's dedication to environmental responsibility and circular economy concepts, which is consistent with broader global sustainability goals. The start of the Covid-19 pandemic triggered a wave of supply chain disruptions that impacted a variety of businesses, including the lead and battery sectors. Mexico's advanced lead acid battery sector encountered temporary supply chain disruptions, resulting in manufacturing delays and logistical issues. Despite these challenges, the pandemic's emphasis on energy security and self-reliance could provide a silver lining for the local battery business. Increased awareness of global supply chain vulnerabilities led to a focus on home manufacturing capabilities, which could boost demand for locally produced batteries. As a result, while Covid-19 presented initial obstacles, it also accelerated market dynamics, creating chances for domestic battery producers to capitalise on changing customer preferences and industry trends.

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Kripa Shah

Senior Analyst

Considered in this report • Historic year: 2018 • Base year: 2023 • Estimated year: 2024 • Forecast year: 2029 Aspects covered in this report • Advanced Lead Acid Battery market Outlook with its value and forecast along with its segments • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation By Type • Motive • Stationary

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By Construction Method • Valve Regulated Lead Acid (VRLA) Battery • Flooded Battery By End-User Industry • Automotive and Transportation • Utility • Industrial • Commercial & Residential The approach of the report: This report consists of a combined approach of primary and secondary research. Initially, secondary research was used to get an understanding of the market and list the companies that are present in it. The secondary research consists of third-party sources such as press releases, annual reports of companies, and government-generated reports and databases. After gathering the data from secondary sources, primary research was conducted by conducting telephone interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this; we have started making primary calls to consumers by equally segmenting them in regional aspects, tier aspects, age group, and gender. Once we have primary data with us, we can start verifying the details obtained from secondary sources. Intended audience This report can be useful to industry consultants, manufacturers, suppliers, associations, and organizations related to the Advanced Lead Acid Battery industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing and presentations, it will also increase competitive knowledge about the industry.