The Motorcycle Lead Acid Battery Market Size is expected to grow from US$ 5,256.93 Million in 2022 to US$ 8,686.11 Million by 2032. During the projection period, it is expected that demand for motorcycle lead-acid batteries will grow at a CAGR of 5.15 percent.
Key Takeaways of Motorcycle Lead Acid Battery Study
- Increasing electrification and modification in motorcycles has driven the requirement for more powerful batteries. This has led to increasing preference for AGM batteries in Europe and North America.
- Increasing production of electric motorcycles and rising number of motorcycles are driving new orders and contracts related to lead acid batteries.
- With improvements in the economy, automobile sales are booming, which is boding well for the SLI (starting, lighting, and ignition) lead acid batteries, since these are the preferred choice for powering internal combustion engine-based automobiles.
- Since the motorcycle lead acid battery market is demand-driven, growth depends on customer preferences and sentiments across all regions. India, China, and South East Asian countries are expected to hold major market share in the coming years.
- Lead acid battery technology is facing stiff competition from alternative technologies that are being inculcated in batteries, such as lithium ion (Li-ion), zinc-air, and nickel metal hydride (Ni-MH).
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The APAC motorcycle lead acid battery market is expected to offer the most opportunities, owing to increasing demand for motorcycles in countries such as China and India. Moreover, motorcycles are expected to be extensively utilized as a transport option across Africa, boosting the demand for motorcycle lead acid batteries at a rapid pace in the region.
Primarily used in motorcycles, absorbent glass mat (AGM) batteries are gaining significant traction in the global market due to their properties such as swift recharge and high voltage capability.
Motorcycles are experiencing a significant surge in demand in regions such as North America and Europe, while Asia Pacific has always been a region with high demand. As such, the demand for motorcycle lead acid batteries such as AGM is expected to rapidly increase over the forecast period.
Competitive Landscape
Key players involved in the motorcycle lead acid battery market include Bosch Limited, Banner Battery, Dynavolt Renewable Energy Technology Co., Ltd., Leoch International Technology Limited Inc., Chaowei Power, Deltran Battery Tender, Southern Batteries Pvt. Ltd., and Camel Group Co., Ltd. among others.
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MOTORCYCLE LEAD ACID BATTERY MARKET TAXONOMY
Motorcycle Lead Acid Battery Market: Segmentation
Vehicle Type
- Motorcycles
- Scooters
Sales Channel
- OEMs
- Aftermarket
Region
- North America
- Latin America
- Europe
- APAC
- MEA
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FREQUENTLY ASKED QUESTIONS ABOUT GLOBAL MOTORCYCLE LEAD ACID BATTERY MARKET
How will the motorcycle lead acid battery market fare in the future?
Lead acid batteries are installed in almost all motorcycles, thus making them an integral part of the sector, and strengthening their position in the global market. However, the prevalence of lithium-ion batteries in recent years could hinder the pace of growth of the motorcycle lead acid battery market by the end of the forecast period.
Will the declining prices of lead acid batteries affect the future trajectory of the motorcycle lead acid battery market?
The lead acid battery is a decade-old technology, which has entered into the maturity phase. Alternative solutions have started to emerge in the market, owing to which, the prices of lead acid batteries are declining. Yet, their volume consumption is estimated to remain significant due to their short life cycle and rising demand due to expanding motorcycle fleet.
Which application area holds potential growth opportunities for players in the motorcycle lead acid battery market?
Though the demand for motorcycles is expected to continue to influence the market, the growing demand for automatic scooters is anticipated to increase revenue for players in the motorcycle lead acid battery market.
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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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