The motorcycle lead acid battery market has shown significant expansion, growing from $5.06 billion in 2023 to $5.39 billion in 2024, reflecting a CAGR of 6.3%. This growth is attributed to urbanization, heightened consumer awareness, the rise of ride-sharing and delivery services, increased fleet electrification, and expanding charging infrastructure. The market is expected to reach $6.91 billion by 2028, with a CAGR of 6.4%. Key factors driving this growth include advancements in energy density and power density, battery leasing programs, integration with renewable energy sources, high replacement rates, and the establishment of battery swapping stations. Innovations in sealing technologies, greener manufacturing processes, safety features, nanotechnology applications, and advanced thermal management systems are prominent trends.
Major Driver In The Motorcycle Lead Acid Battery Market
The motorcycle lead-acid battery market is set to grow due to the increasing popularity of two-wheeled electric vehicles. Motorcycles and motorbikes are gaining traction for their affordability and efficiency. Lead-acid batteries are crucial for these electric vehicles, providing a cost-effective and reliable energy storage solution. The Society of Manufacturers Of Electric Vehicles highlighted that electric two-wheeler sales jumped from 252,641 in 2021-2022 to 728,054 in 2022-2023. This growing demand for electric two-wheelers is anticipated to propel the motorcycle lead-acid battery market forward.
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Motorcycle Lead Acid Battery Market Competitive Landscape
Panasonic Holdings Corporation, Johnson Controls International plc, Clarios International Inc., Chaowei Power Holdings Limited, GS Yuasa Corporation, EnerSys, East Penn Manufacturing Co., Exide Industries Limited, Leoch International Technology Limited, The Amara Raja Group (Amaron), Shuangdeng Group Co Ltd, Coslight Technology International Group Ltd., Trojan Battery Company LLC, Power Sonic Corporation, HBL Power Systems Limited, Mutlu Battery and Materials Industry Inc., Hawker Powersource Inc., FIAMM Energy Technology S.p.A., MK Battery International, CSB Energy Technology Co. Ltd., EverExceed Industrial Co. Ltd., Thai Energy Storage Technology PLC, C&D Technologies Inc., Deltran USA LLC, HAZE Power Company Ltd.
Key Motorcycle Lead Acid Battery Market Trend
Leading firms in the motorcycle lead acid battery market are enhancing battery interlayer technologies to boost performance and safety. In October 2023, the Maryland Energy Innovative Institute introduced a novel battery interlayer technology featuring an Mg16Bi84 interlayer at the lithium anode and an F-rich interlayer on NMC811 cathodes in all-solid-state lithium-metal batteries. This innovation suppresses dendrite growth, reduces interfacial resistance, and stabilizes cathodes, offering higher energy density and faster charging at lower stack pressures, making electric and hybrid motorcycles more reliable and appealing.
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Motorcycle Lead Acid Battery Market Segmentation
The motorcycle lead acid battery market covered in this report is segmented –
1) By Product Type: Valve Regulated Lead Acid Battery (VRLA) Battery, Flooded Lead-Acid (FLA), Absorbed Glass Mat (AGM), Vented Battery, Other Product Types
2) By Technology: Internal Combustion Engine (ICE), Hybrid, Electric
3) By Sales Channel: Original Equipment Manufacturers (OEMs), Aftermarket
By Geography:The regions covered in the motorcycle lead acid battery market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
North America was the largest region in the motorcycle lead acid battery market in 2023, and is expected to be the fastest-growing region in the forecast period.
The Motorcycle Lead Acid Battery Global Market Report 2024 furnishes information about the global motorcycle lead acid battery market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.
