The Motorcycle Lead Acid Battery Market estimated to capture a valuation of US$ 5.4 billion in 2023 and reach US$ 9.1 billion by 2033. The global market is projected to increase at a CAGR of 5.2% during the forecast period.
Opportunities Bring Lucrative Growth in the Global Market
The global market presents various opportunities that upsurge development and growth. Emerging alternative battery technologies, including lithium-ion, have gained huge popularity globally. Some of the opportunities in the global market are as follows:
- Increasing Motorcycle Sales: The motorcycle sector is rapidly growing around the globe due to the increasing popularity of two-wheeler. Two-wheeler is the popular mode of transport that is rising the demand for motorcycle lead acid batteries.
- Aftermarket Customization: Aftermarket is gaining huge attraction in the global market to customize motors and bikes by adding electric components. The demand for lead acid batteries is suitable to deliver a high burst of energy and power.
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- Maintenance and Repair:Lead acid batteries are highly required for charging and checking the electrolyte level. Various service canters and battery dealers offer repair, replacement, and maintenance services, driving the market size.
- E–commerce and Online Sales:Online platforms are increasing the way goods and services are sold. The manufacturers are offering many lead acid batteries to expand the market growth. Online sales help to boost sales by increasing accessibility for customers for better purchases.
- Technological Advancements:The increasing adoption of advanced technologies are improving better options and designing enhanced lead acid batteries to attract consumers. Manufacturers invest in research and development activities to increase the lifespan and efficiency of batteries. They offer different types, shapes, and sizes of batteries per consumers’ requirements.
- Environment Sustainability:Growing concerns towards the environment impacts increasing focus on sustainability. It involves various programs, including recycling programs to develop eco-friendly production processes.
- Export Opportunities: Manufacturers are designing advanced lead acid batteries to reach international markets. It helps them to reach relevant consumers and expand the global market.
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Key Takeaways:
- The motorcycle lead acid battery market is estimated to register a CAGR of 5.2%, with a valuation of US$ 9.1 billion in 2033.
- The United States is anticipated to dominate the global market by securing a share of 14.7% during the forecast period.
- Germany is estimated to capture a share of 4.8% of the global market during the forecast period.
- With a share of 6.1%, Japan is estimated to drive the global market by 2033.
- Australia is estimated to register a share of 1.5% in the global market during the forecast period.
How Are Key Players Adding Values in the Global Market?
The global market is highly competitive by the number of essential players worldwide. Key players innovate and improve new products by investing heavily in research and development activities. These players are adopting various marketing strategies such as mergers, acquisitions, partnerships, collaborations, and product launches.
Key Companies Profiled
- GS Yuasa Corporation
- Exide Industries Ltd
- Hitachi Chemical Company Ltd.
- EnerSys
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Recent Developments in the Global Market are:
In 2021, Exide Technologies announced its newly launched product, lead acid batteries for motorcycles. These batteries provide electrical energy solutions for various applications.
Motorcycle Lead Acid Battery Market by Category
By Vehicle Type:
- Motorcycles
- Scooters
By Sales Channel:
- OEMs
- Aftermarket
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East and Africa
Author
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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