Lead batteries ‘worth $16bn to Europe’: report

Lead batteries ‘worth $16bn to Europe’: report

Lead batteries ‘worth $16bn to Europe’: report 1024 683 Batteries International

April 7, 2022: The lead battery industry is worth an estimated €15 billion ($16 billion) of value added or gross domestic product a year to the European economy, according to new analysis released to the public on April 2.

The report — Economic Contribution of the European Lead Battery Industry — said the downstream industry activity driven by the use of lead batteries is worth €7.3 trillion of gross domestic product across retail, construction and healthcare.

Consulting firm EBP was commissioned to compile the report by the International Lead Association and EUROBAT, the Association of European Automotive and Industrial Battery Manufacturers.

According to the report, nearly €40 million is invested in R&D annually by the lead battery industry — further boosting growth and productivity.

And about €2 billion worth of country exports of lead acid batteries from the 27 EU member states are consumed by non-EU countries, such as the UK, Russia, Switzerland, and China, the report said.

‘Energy security’

In addition, the report confirmed that new lead batteries, which are all recycled when collected in Europe, typically include up to 80% recycled content.

EBP’s analysis estimated the economic contribution of the lead battery industry in Europe — including the 27 EU member states plus Norway, Switzerland and the UK — and was based on information gathered in 2019 using input-output analysis that measured the activity of the entire lead battery value chain.

ILA managing director Andy Bush said the report highlighted the contribution of Europe’s “strategically autonomous lead battery industry, which has never been more significant as energy security becomes central to Europe’s economy and defence.

“The EU is a centre of excellence for lead battery technology in manufacturing, innovation and end-of-life recycling and our respective memberships are key enablers for many downstream sectors including transportation, telecommunications, IT and information services.”