The motorcycle lead acid battery market is expected to grow from US$ 5,256.93 Mn in 2022 to US$ 8,686.11 Mn by 2032. The sales of motorcycle lead acid batteries is expected to rise at a CAGR of 5.15% during 2022-2032.
The demand for motorcycle lead acid batteries is increasing in electric, hybrid, light, and heavy motor vehicles, which is a key element fueling the market's expansion. The sales of motorcycle lead acid batteries are also expected to increase between 2022 and 2032 as a result of factors like the growing population, rising disposable income, expanding government agencies, and strict pollution emission restrictions.
Since governments have started to offer incentives for the creation of affordable electric automobiles that do not hurt the environment, it is predicted that sales of motorcycle lead acid batteries would increase. As a consequence, makers of motorcycle lead acid batteries are expected to see several potential prospects over the forecast period. Rising cost-competitive energy storage options, quick technical breakthroughs, and telecom sector expansion are expected to raise motorcycle lead acid battery market share throughout the forecast period.
The advantages of lead-acid batteries over lithium-ion batteries, as well as the increased demand for two-wheelers, are important factors driving the growth of the motorcycle lead acid battery market. However, the motorcycle lead acid battery market's expansion is hampered by revenue loss and brand reputation harm caused by counterfeit products. The development of moldable batteries and battery modifications, on the other hand, is likely to fuel demand for motorcycle batteries.
Factors such as OEMs losing revenue and brand reputation due to counterfeit products are anticipated to hamper the growth of the motorcycle lead acid battery market. Furthermore, the cost advantage of lead-acid batteries over lithium-ion batteries will greatly drive sales of motorcycle lead acid battery throughout the projected period.
Key Takeaways from Market Study
- During the projected period, motorcycles are anticipated to dominate the market for lead acid batteries for motorcycles.
- In 2022, the motorbike category represented a sizeable percentage of the market.
- The growth of the two-wheeler industry is anticipated to quickly increase demand for motorbike batteries throughout the anticipated timeframe.
- The rapid use of electric vehicles in China, India, South Korea, and other Asian countries has increased demand for motorcycle lead acid batteries. For example, electric scooters and motorcycles have completely dominated the two-wheeler market.
- The motorbike lead acid battery market is dominated by North America, which holds the second-largest share. The growth of the motorcycle lead acid battery market is anticipated to be significantly influenced by the developed industrial sector in the U.S.
- The Asia Pacific region is likely to be the most prominent and lucrative area in the global motorcycle lead acid battery market due to growing motorbike demand in countries such as India and China.
“The global motorcycle lead acid battery market has evolved with strong competitiveness due to changes in customer tastes throughout time. As a result, market participants are focusing their efforts on new product development, expanding geographically, building partnerships with supporting firms, and investing in long-term contracts.” -FMI Analyst
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Competitive Landscape
The global motorcycle lead acid battery market is highly fragmented, with several competitors owning just a small portion of the market. The motorcycle lead acid battery market is expected to be dominated by a few prominent producers, including GS Yuasa Corporation, Exide Industries Ltd, Hitachi Chemical Company Ltd., and EnerSys.
Developments in the Motorcycle lead acid battery Market:
- EnerSys announced an additional US$ 100 million investment in Thin Plate Pure Lead (TPPL) manufacture on June 11, 2019, with the goal of increasing capacity by 15% over the next three years. The firm intends to increase its TPPL earnings by more than $500 million per year with this investment.
- Daramic LLC, a leading manufacturer of polyethylene (PE) battery separators used in lead acid batteries, said on September 18, 2018, that it will expand its production unit in France by 15%.
