More vehicles are getting electrified and more countries are investing in mass-scale renewable energy projects. Lead-acid batteries are widely used in these applications, which rely on grid casting machines for manufacturing.
As more batteries are produced, the grid casting machine market size is expected to cross USD 6,085.80 million by 2034. In 2024, the market size stands at USD 2,818.90 million. Industry expansion is estimated at a 5.50% CAGR for 2024 to 2034.
| Attribute | Details |
|---|---|
| Industry Size in 2023 | USD 2,664.40 million |
| Industry Size in 2024 | USD 2,818.90 million |
| Industry Size by 2034 | USD 6,085.80 million |
| Value CAGR (2024 to 2034) | 5.50% |
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Electrification of Vehicles and EV Demand Boosts Industry Growth
As more vehicles get electrified, the machines used to make the lead grids for batteries are also in demand. Although electric vehicles mostly use lithium-ion batteries, traditional lead-acid batteries are still needed for some, like hybrids. These lead grids are made using grid casting equipment.
As more cars go electric to reduce pollution, the demand for these lead grids and the machines that make them keeps growing. This shows how the move to electric vehicles impacts the demand for these machines. As more electric vehicles are, sold the industry benefits. Grid casting equipment manufacturers can prosper with this shift.
More Countries Investing in Renewable Energy Fosters Industry Growth
As more countries turn to solar and wind power to fight climate change, they need better ways to store this energy. Lead-acid batteries, made using grid casting equipment, are essential for storing this power. So, as more energy from renewable sources is produced, the demand for these machines grows too. This shows how the move to renewable energy is boosting the industry.
A greater emphasis on a future without fossil fuels is expected. As the focus on renewable energy projects rises, manufacturers can benefit.
Principal Consultant
| Segment | Continuous Grid Casting Machines (Type) |
|---|---|
| Value Share (2024) | 46.50% |
Continuous grid casting machines are expected to lead in 2024. These machines are considered better than batch ones because they produce faster and without stopping. They ensure that the lead grids made for batteries are of the same quality every time.
These machines can also change how they work easily to make different kinds of grids. They use advanced technology to work automatically and can fit in with other machines easily.
Even though they cost more at first, they end up being cheaper in the long run because they can make more grids without any problems. And if a company wants to make more grids, they can just add on to these machines without much trouble. These traits boost their demand in the industry.
| Segment | Automotive (End-use Industries) |
|---|---|
| Value Share (2024) | 37.30% |
The automotive industry segment is expected to lead in the end-use indsutry category in 2024. More cars are becoming electric, but regular cars with gas engines are still popular. These regular cars use lead-acid batteries. Hybrid vehicles that use both gas and electricity also use these batteries.
Even when vehicles get old and need new batteries, people often choose lead-acid batteries because they're cheaper and work with many different vehicles. Trucks, buses, and heavy machines also use these batteries. All of this means that machines used to make these batteries are in high demand in the automotive industry.
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| Countries | Value CAGR (2024 to 2034) |
|---|---|
| United States | 4.80% |
| Germany | 5.20% |
| China | 4.70% |
| India | 6.30% |
| Australia | 5.80% |
The demand for grid casting machines in the United States is anticipated to amplify at 4.80% CAGR until 2034. Making sure the country has enough energy and is safe from threats is given importance. Batteries made using special machines play a big part in this by providing backup power and helping keep the electricity stable.
The government encourages using cleaner energy with incentives like tax breaks, which boosts the demand for these batteries. Also, as extreme weather becomes more common, there's a need for stronger electricity systems.
This means more batteries are needed, creating opportunities for companies that make these special machines. So, by focusing on clean energy and helping make the electricity system stronger, businesses can do well in the United States industry.
Wirtz Manufacturing Company specializes in battery manufacturing equipment and is located in the United States. The brand focuses on research and development to introduce new technology and strengthen its networks.
The sales of grid casting machine in Germany is in line to amplify at 5.20% CAGR till 2034. German consumers want more electric cars and cleaner industries, so they need machines that make batteries for these cars and factories. These machines make batteries that help electric cars work better and also support industries by providing backup power.
As more electric cars are used and industries become cleaner, the need for these machines grows. So, German companies that make these machines have a chance to sell more because they can help meet the country's goals for cleaner transportation and industries.
The growth of the grid casting machine market in China is estimated at 4.70% CAGR until 2034. Chinese manufacturers sell a significant number of electric cars, so they need a greater number of machines to make batteries for these cars. These machines are also used to make batteries for other vehicles.
As China's cities get bigger and they need more electricity, there's a bigger demand for batteries and the machines that make them. Chinese companies are working on making these machines better and smarter to keep up with the demand.
Zhongshan Kaixiang Electric Technology Co., Ltd. engages in battery equipment production and is popular in China. The company focuses on product innovation and customization. It invests in talent development and technological advancements for unparalleled growth.
Market trends and drivers for the grid casting machine industry hint expansion at 6.30% CAGR in India till 2034. The government helps companies that make these machines, and India is also starting to use more electric vehicles. This means more demand for batteries and the machines that make them. Overall, it's a good time for companies in India that make grid casting equipment.
Gravita India Limited is a pioneer in lead products and equipment for the battery industry. The company focuses on diversification into new product categories. It focuses on sustainable practices to comply with regulations and consumer preferences.
Grid casting machine market analysis in Australia indicates expansion at 5.80% CAGR until 2034. Like other countries, Australia is using more renewable energy like solar and wind power. This means there's a bigger need for batteries to store this energy. Also, in remote areas and islands of the country, they use batteries for power, and these machines help make them too.
In Australia's mining industry, big machines need batteries to work, and these machines help make these batteries strong. When there are big storms or disasters, Australia needs batteries to keep things running. So, there's notable demand for grid casting equipment in Australia to make batteries for different uses.
The grid casting machine industry is highly competitive, with prominent companies vying for global supremacy. Established businesses such as WIRTZ Manufacturing Company and SoVema Group dominate the industry due to their significant experience and technological knowledge.
To preserve their competitive advantage, they spend on research and development, strategic alliances, and acquisitions. However, smaller specialized firms flourish by providing bespoke solutions at competitive prices. Technological improvements and industry trends fuel competitiveness, whilst regulatory concerns and industry dynamics influence strategic decisions.
Recent Development
The industry is in line to be valued at USD 2,818.90 million in 2024.
The industry size is estimated to increase at 5.50% CAGR through 2034.
The industry is expected to be worth USD 6,085.80 million by 2034.
Continuous grid casting machine is highly preferred in the industry.
The industry in India is predicted to expand at 6.30% CAGR through 2034.
1. Executive Summary 2. Market Overview 3. Key Market Trends 4. Key Success Factors 5. Global Market Demand Analysis 2019 to 2023 and Forecast, 2024 to 2034 6. Global Market - Pricing Analysis 7. Global Market Demand (in Value or Size in USD Million) Analysis 2019 to 2023 and Forecast, 2024 to 2034 8. Market Background 9. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Product Type 9.1. Continuous Grid Casting Machines 9.2. Semi-Continuous Grid Casting Machines 9.3. Batch Grid Casting Machines 10. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By End-Use Industries 10.1. Automotive 10.2. Renewable Energy 10.3. Aerospace 10.4. Electronics 10.5. Others 11. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Region 11.1. North America 11.2. Latin America 11.3. East Asia 11.4. South Asia Pacific 11.5. Western Europe 11.6. Eastern Europe 11.7. Middle East and Africa (MEA) 12. North America Market Analysis 2019 to 2023 and Forecast 2024 to 2034 13. Latin America Market Analysis 2019 to 2023 and Forecast 2024 to 2034 14. East Asia Market Analysis 2019 to 2023 and Forecast 2024 to 2034 15. South Asia Pacific Market Analysis 2019 to 2023 and Forecast 2024 to 2034 16. Western Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034 17. Eastern Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034 18. Middle East and Africa Market Analysis 2019 to 2023 and Forecast 2024 to 2034 19. Country-wise Market Analysis 20. Market Structure Analysis 21. Competition Analysis 21.1. Zesar Technology 21.2. Battery Technology Source 21.3. Wirtz 21.4. TC Machinery 21.5. Sovema 21.6. PDC Machine Kylt 21.7. Hilans 21.8. Better Technology Group Ltd 21.9. MAC Engineering 21.10. GridMaster Machinery 21.11. Leadline Machinery 21.12. PowerGrid Technology 21.13. PCE Pacific, Inc. 21.14. Eastman Casting 21.15. Conmach Machinery 21.16. GridTech Solutions 21.17. ElectroGrid Machinery 21.18. AlphaGrid Machinery 21.19. GridCast Technologies 21.20. MetalForming Inc. 21.21. Other Key Players 22. Primary Insights 23. Assumptions and Acronyms Used 24. Research Methodology
Industrial Automation
May 2023
REP-GB-17258
306 pages
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Grid Casting Machine Market
