Power Sports Batteries Market 2022-2028

Description

List of Tables

Title:Global Power Sports Batteries Market Size, Share & Trends Analysis Report, By Battery Type (Conventional Batteries, Absorbent Glass Mat (AGM) batteries, and Lithium Batteries), By Voltage (6V, 12V, 24V, 36V, and 48V), By Distribution Channels (OEM and Aftermarket), Forecast Period (2022-2028).

The global power sports batteries market is anticipated to grow at a CAGR of 5.8% during the forecast period. The market has witnessed a significant increase in the sale of electric vehicles along with a rising inclination of youth toward adventure activities, which require sports bikes, snowmobiles, all-terrain vehicles (ATVs), and road motorcycles. For instance, according to Insurance Institute for Highway Safety (IIHS), in 2021, the total on-road motorcycles registered in the US, was 8,575,569. However, an upsurge in the sale of vehicles leads to higher demand for the global power sports battery market. According to the Bureau of Economic Analysis, outdoor adventures on recreational activities accounted for 1.8% or $374.3 billion in the gross domestic products of the US in 2020.

Moreover, power sports batteries are also experiencing an upward trend owing to the strategic decision adopted by major key players to accelerate the growth of the global power sports batteries market. For instance, in October 2020, Medina, Minnesota, signed a 10-year agreement with Zero Motorcycle Inc. This partnership in off-road vehicles (ORV) and snowmobiles is a cornerstone component of rEV'd up, Polaris' long-term strategy to position the Company as the leader in Powersports electrification. The company co-develop technologies and vehicle platforms that will power the future of electrification in Powersports.

The global power sports batteries market is segmented based on battery type, voltage, and distribution channel. Based on battery type, the market is bifurcated into conventional batteries, absorbent glass mat (AGM) batteries, and lithium batteries. Based on voltage range, the market is segmented into 6V, 12V, 24V, 36V, and 48V. Based on distribution channels, the market is segmented into OEM and aftermarket. Based on battery type, the AGM battery segment is expected to witness favorable growth during the forecast period. AGM consists of electronic features such as DVD players, GPS, heated seats, and audio systems, and has wider application in high-end and advanced fuel-efficient vehicles. With superior cycling capability, charge acceptance, and the ability to operate at a low state of charge, the demand for AGM batteries is expected to grow at a significant growth during the forecast period.

Geographically, the global power sports battery market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. European region is expected to witness higher growth in the global sports power battery market. The growth is mainly attributed owing to the growing disposable income that encourages customers to purchase advanced and luxury sports power battery vehicles along with rising sales of electric vehicles. For instance, according to the International Council of Clean Transportation report, about 11.7 million new cars were registered in the EU and the UK in 2020. Germany is the largest vehicles market holding a 25% share of the EU and the UK market combined.

The major companies serving the global power sports batteries market include Clarios, Exide Technologies, and Crown Battery, among others. The market players are contributing to the market growth by the adoption of various strategies including mergers and acquisitions, collaborations, and new product launches, to stay competitive in the market. For instance, in February 2021, Batteries Plus announced an agreement with RELion Battery. RELiON offers a high-quality solution to customers looking to elevate their battery needs for outdoor recreational vehicles, solar energy systems and commercial applications. Moreover, Batteries Plus aims to provide customers with an alternative to conventional lead-acid batteries as lithium batteries are inherently lightweight, have a longer life and charge quickly, among many other benefits.

Research Methodology

The market study of the global power sports batteries market is incorporated by extensive primary and secondary research conducted by the research team at OMR. Secondary research has been conducted to refine the available data to breakdown the market into various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior, and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings authenticity to our reports.

Secondary Sources Include:

Financial reports of companies involved in the market.

Whitepapers, research papers, and news blogs.

Company websites and their product catalog.

The report provides an in-depth analysis of market size, intended quality of the service preferred by consumers. The report will serve as a source for a 360-degree analysis of the market thoroughly integrating different models.

Market Segmentation

Global Power Sports Batteries Market Research and Analysis by Battery Type
Global Power Sports Batteries Market Research and Analysis by Voltage
Global Power Sports Batteries Market Research and Analysis by Distribution Channel

The Report Covers:

Comprehensive research methodology of the global power sports batteries market.
This report also includes a detailed and extensive market overview with key analyst insights.
An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
Analysis of regional regulations and other government policies impacting the global power sports batteries market.
Insights about market determinants that are stimulating the global power sports batteries market.
Detailed and extensive market segments with the regional distribution of forecasted revenues.
Extensive profiles and recent developments of market players.

Product Code: OMR2026884

1. Report Summary

Current Industry Analysis and Growth Potential Outlook
1.1. Research Methods and Tools
1.2. Market Breakdown
- 1.2.1. By Segments
- 1.2.2. By Region

2. Market Overview and Insights

2.1. Scope of the Report
2.2. Analyst Insight and Current Market Trends
- 2.2.1. Key Findings
- 2.2.2. Recommendations
- 2.2.3. Conclusion

3. Competitive Landscape

3.1. Key Company Analysis
- 3.1.1. Company
  - 3.1.1.1. Overview
  - 3.1.1.2. Financial Analysis
  - 3.1.1.3. SWOT Analysis
  - 3.1.1.4. Recent Developments
3.2. Key Strategy Analysis

4. Market Segmentation

4.1. Global Power Sports Batteries Market by Battery Type
- 4.1.1. Conventional Batteries
- 4.1.2. Absorbent Glass Mat (AGM) Batteries
- 4.1.3. Lithium Batteries
4.2. Global Power Sports Batteries Market by Voltage Range
- 4.2.1. 6V
- 4.2.2. 12V
- 4.2.3. 24V
- 4.2.4. 36V
4.3. Global Power Sports Batteries Market by Distribution Channel
- 4.3.1. OEM
- 4.3.2. Aftermarket

5. Regional Analysis

5.1. North America
- 5.1.1. United States
- 5.1.2. Canada
5.2. Europe
- 5.2.1. UK
- 5.2.2. Germany
- 5.2.3. Italy
- 5.2.4. Spain
- 5.2.5. France
- 5.2.6. Rest of Europe
5.3. Asia-Pacific
- 5.3.1. China
- 5.3.2. India
- 5.3.3. Japan
- 5.3.4. South Korea
- 5.3.5. Rest of Asia-Pacific
5.4. Rest of the World

6. Company Profiles

6.1. Clarios
6.2. Crown Battery
6.3. Discover Battery
6.4. East Penn Manufacturing Co., Inc.
6.5. EnerSys
6.6. Exide Technologies.
6.7. Fullriver Battery
6.8. Go Power!
6.9. GS Yuasa Corp.
6.10. Harris Battery
6.11. Interstate Batteries
6.12. Lifeline Batteries Inc.
6.13. Midac S.P.A.
6.14. Samauto S.P.A.
6.15. Scorpion Battery Inc.
6.16. Trojan Battery Company LLC
6.17. U.S. Battery Manufacturing Co.