USD 8.6 Billion
Report ID:
SQMIG25A2300 |
Region:
Global |
Published Date: May, 2024
Pages:
220
|Tables:
116
|Figures:
69
Global Motorcycle Battery Market size was valued at USD 8.6 Billion in 2022 and is poised to grow from USD 8.97 Billion in 2023 to USD 12.56 Billion by 2031, growing at a CAGR of 4.3% in the forecast period (2024-2031).
The global motorcycle battery market is characterized by changing consumer preferences, technological advancements and regulatory pressures. While traditional lead-acid batteries are still prevalent due to their affordability and reliability, the market is seeing a gradual shift towards advanced battery technologies such as lithium-ion by manufacturers have invested in R&D to improve battery performance, life and durability, with customers demanding efficiency and environmental responsibility.
Furthermore, the advent of electric motorcycles and the shift towards green transportation solutions are reshaping the competitive landscape in the motorcycle battery market. Companies are looking for opportunities to develop innovative battery solutions to suit electric motorcycle manufacturers and then the needs of the occupants and to take advantage of the growing demand for electricity running systems. Strategic partnerships, acquisitions and investments are common in the battery technology industry as stakeholders seek competitive advantage.
Global Market Size
USD 8.6 Billion
Largest Segment
Lithium-ion
Fastest Growth
Lead-acid
Growth Rate
4.3% CAGR
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Global motorcycle market is segmented by type, battery, and region. Based on type, the market can be segmented into e-scooters and e-motorcycles. Based on battery, the market is segmented into lithium-ion (Li-ion), and lead-acid. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Analysis by Battery
The lithium-ion battery segment is the dominant segment in the market which retained the largest market share by 2022, accounting for about two-thirds of the global motorcycle battery market revenue, and lithium is estimated to maintain its leadership position throughout the forecast period. Ion batteries require less maintenance, giving them an edge over other types of batteries. Compared to other batteries, the spontaneity is less than half, making it ideally suited for modern fuel gauge applications. Lithium-ion batteries are less environmentally damaging when disposed of properly as compared to lead acid & NiMH batteries. Additionally, the advent of new and improved electric vehicles for both personal and commercial use is expected to drive lithium-ion battery demand globally even as the share of EVs grows and lithium in Europe and North America due to its increasing sales. Moreover, the demand for ion batteries is increasing, and EV share is likely to increase due to the 'Green Deal initiative' launched by the European Union in 2019 and will provide lithium-ion battery demand has increased further over the forecast period.
While lead-acid batteries are growing rapidly and are considered the fastest growing segment. Lead batteries are generally more expensive compared to lithium-ion batteries. This lower cost makes electric motorcycles with lead-acid batteries affordable customers and affordable markets is an important consideration Lead-acid batteries have been around for a long time and it’s a well-established technology. Manufacturers and users in some areas may be familiar with and confident in lead batteries to ensure continued use.
Analysis by Type
E-scooters is the dominating segment in the market which have gained popularity in recent years due to their compact size, ease of use and affordability especially in urban areas They are specially designed for short trips, offering a convenient alternative and it is less environmentally friendly than traditional transports. E-scooters offer a convenient solution for getting around in crowded urban areas, where parking space is limited and traffic congestion is a common issue Their compact design provides riders are drivable, making them desirable for short trips and last-mile trips.
While e-motorcycles are growing rapidly and are considered the fastest growing segment. An e-motorcycle offers more power and efficiency compared to an e-scooter, appealing to motorcycle enthusiasts and riders looking for a thrilling experience. Advances in battery technology have also solved a few of the problems associated with early electric motorcycles and improved range.
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Asia Pacific dominates the motorcycle battery market, driven by elite motorcycles and many consumers. Moreover, the growing regional electric motorcycle segment is further accelerating the demand for lithium-ion batteries, positioning Asia Pacific as the major growth engine in the motorcycle battery market.
North America is the fastest growing segment in the market. The motorcycle battery market in North America benefits from the strong motorcycle culture, especially in the United States. Motorcycle enthusiasts in North America are looking for high-performance batteries to power their bikes, creating opportunities for battery manufacturers and aftermarket suppliers. As an acquisition of electric motorcycles atomic size and the push for sustainable transport solutions besides driving demand for advanced battery technologies in the region.
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Drivers
Rising Demand for Motorcycles
Technological Advancements
Restraints
Environmental Regulations
Competition from Electric Vehicles
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The competitive environment of the Global Motorcycle Battery Market is dynamic and characterized by the presence of a mix of well-established brands, emerging players, and niche producers. Key players competing in the global Motorcycle Battery market are AEG Powertools; ALCAD; Cantec Systems; Cell Pack Solutions Ltd; ENERSYS; GS Yuasa Battery Sales UK Ltd; J&A Electronics; Panasonic Life Solutions India Pvt. Ltd; Power Sonic; and Zeus Battery Products.
Top Player’s Company Profiles
Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
Factors such as increasing demand for motorcycles, technological advancements and shift towards lithium-ion batteries drive the motorcycle batteries market but the market faces restrictions due to environmental regulations and competition from electric vehicles in. Asia Pacific and North America play a key role in the ongoing market growth, with their strong motorcycle market contributing significantly and driving the adoption of advanced battery technologies for participants identify changing consumer preferences, technological innovations and regulatory environments as the market evolves take advantage of emerging opportunities to drive long-term growth in the motorcycle battery industry.
Report Metric | Details |
---|---|
Market size value in 2022 | USD 8.6 Billion |
Market size value in 2031 | USD 12.56 Billion |
Growth Rate | 4.3% |
Base year | 2023 |
Forecast period | 2024-2031 |
Forecast Unit (Value) | USD Billion |
Segments covered |
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Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
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Customization scope | Free report customization with purchase. Customization includes:-
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Motorcycle Battery Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Motorcycle Battery Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Motorcycle Battery Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Motorcycle Battery Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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Report ID: SQMIG25A2300
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