Industry Overview - The lead-acid battery industry chain consists of upstream raw material suppliers, midstream battery manufacturers, and downstream application sectors, with the midstream being the core preparation stage that relies heavily on upstream materials like lead [1][2] - Lead and lead products account for over 70% of the production costs of lead-acid batteries, with other materials including plastics and sulfuric acid [1] Key Players - Major upstream participants include companies like Yuguang Gold Lead, Zhuzhou Smelter Group, and Yunnan Chihong Zinc & Germanium, while midstream manufacturers include Tianneng Group, Chaowei Power, and Camel Group [2] - Environmental companies such as Greeenmei are involved in the recycling and reuse of used lead-acid batteries [2] Regional Distribution - As of April 8, 2025, there are 1,576 companies in China related to the lead-acid battery industry, with a concentration in Guangdong, Jiangsu, Shandong, Anhui, and Zhejiang provinces [5] - The industry has seen a reduction in the number of companies due to a stable structure and market supply-demand balance [5] Listed Companies - There are eight publicly listed companies in the lead-acid battery sector in China, with the highest concentration in Zhejiang province, which has three companies, including Tianneng and Chaowei [6]

Group 1 - The global lead-acid battery market is steadily expanding, with a projected market size of $54.924 billion in 2024, reflecting a year-on-year growth of 10.5%, the highest growth rate in recent years [1] - The lead-acid battery industry is characterized by its low price, mature technology, excellent performance in high and low temperatures, reliability, and high safety, maintaining a significant market position globally [1] - The downstream demand for lead-acid batteries is primarily influenced by the automotive, electric vehicle, communication, and power sectors, with the starting power application market accounting for over 70% of the global lead-acid battery market in 2023 [5] Group 2 - The competitive landscape of the global lead-acid battery industry is highly concentrated, with Clarios holding a market share of 24%, followed by Exide and Yuasa at 10% each, resulting in a CR3 of 44% and a CR10 of 76% [2] - The lead-acid battery industry in China is currently in a mature stage, characterized by a slowdown in growth after a period of rapid expansion, with high entry barriers and a decreasing number of non-compliant manufacturers [7]