The global two-wheeler lead acid batteries market in 2022 was US$ 4,900 million and is estimated to be US$ 5,215 million in 2023. Future Market Insights has mentioned in its reports that the two-wheeler lead acid batteries market will expand at a CAGR of 8.47% between 2023 and 2033, totaling around US$ 11,760 million by 2033.
Manufacturers of lead acid batteries mainly focus on the improvisation of the performance and safety of these batteries for sales improvement as they are also investing in collaborations and partnerships for expanding their facilities in untapped markets, which will continue to push sales over the forecast period.
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The presence of inadequate public transport in various cities is thus driving sales of two-wheelers, which are anticipated to drive the market in the forthcoming years. Increase in traffic congestion and a rise in petrol and diesel charges are thus compelling consumers for opting more convenient mobility solutions such as two-wheelers.
Key Takeaways from the Market Study
- Global two-wheeler lead acid batteries market grew at a CAGR of 7.66% between 2017 and 2022.
- United States market is expected to remain high over the forecast period with a market share of 44.1%.
- The North American two-wheeler lead acid batteries market is forecast to hold 47.2% of the total market share.
- China accounts for a dominant share expanding at a CAGR of 6.1% over the forecast period.
- Under capacity type, the 20 AH segment is forecast to remain high over the forecast period with a market share of 51.3%.
- Under technology type, I.C. engine and electrical with a market share of 49.2%.
“Growth in interest in recreational activities is considered one of the major drivers of the two-wheeler lead acid batteries market”, comments a Future Market Insights analyst.
Competition Landscape
Key players operating in the global two-wheeler lead acid batteries market are investing in research and development to improve battery life and product quality. In addition to this, players are investing in mergers, acquisitions, and collaborations to expand their production facilities in untapped markets. For instance:
- EnerSys the global leader in stored energy solutions for industrial applications, announced that it has entered into a non-binding Memorandum of Understanding with Verkor SAS, a European leader in battery technology, for exploring the development of a lithium battery gigafactory in the United States.
Some of the key players are-
- Banner Batteries
- Dynavolt Renewable Energy Technology Co., Ltd.
- Tianneng Power International Ltd
- Leoch International Technology Limited
- Batterie Unibat
- EnerSys Inc.
- Chaowei Power Holdings Limited
- Southern Batteries Pvt. Ltd.
- BS-BATTERY
- KOYO BATTERY
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Two Wheeler Lead Acid Batteries Market by Category
Capacity:
- Less than 5 AH
- 5 AH to 10 AH
- 10 AH to 20 AH
- Above 20 AH
Technology:
- I.C. Engine
- Up to 150 CC
- 151-300 CC
- 301-500 CC
- Above 500 CC
- Electric
Two Wheeler:
- Motorcycles
- Standard
- Cruisers
- Sports
- Mopeds
- Electric
- Scooters
- Standard
- Maxi
- Enclosed
- Three-wheeled
- Electric
Battery Type:
- VRLA Batteries
- Flooded
Sales Channel:
- OEMs
- Aftermarket
Region:
- North America
- Latin America
- Eastern Europe
- Western Europe
- Asia Pacific excluding China & Japan
- Japan
- China
- Middle East & Africa
About Future Market Insights (FMI)
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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