Motorcycle Battery Market: Current Analysis and Forecast (2022-2028)

The global motorcycle battery market is expected to register a robust CAGR of 4% over the period of 2021-2027. Batteries are a critical component of every vehicle and motorcycles are no exception to that. Their prime purpose was and still is to empower SLI (starting, lighting and ignition), but now batteries also have to be strong enough to power onboard electronics and complete propulsion units in the case of the electric motorcycle. In addition, the growth of the electric vehicle battery market expanded significantly over the last years, underpinned by supportive policies and technological advances for clean energy across the world. Moreover, the Surging demand for electric vehicles would propel the demand for motorcycle batteries.

Moreover, the growth of the market is influenced by factors such as the increased number of motorbikes on the road. Furthermore, battery advancements utilizing semiconductor devices such as sensors and supercapacitors are expected to extend battery life, boosting the demand for motorcycle batteries. Additionally, the governments of several nations throughout the world subsidize battery makers for electric vehicles because they emit less pollution.

EnerSys, GS Yuasa International Ltd., BS-Battery, Exide Industries Ltd., Batterie Unibat, Robert Bosch GmbH, Deltran Battery Tender, Dynavolt, Johnson Controls International, and KOYO BATTERY CO. LTD are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.

Insights Presented in the Report:

"Amongst type, lithium-ion category holds the dominant position in the market"

Based on type, the market is divided into lead-acid and lithium-ion. Among them, the lithium-ion category is anticipated to have significant growth during the forecast period. The success of lithium-ion batteries in every field is mainly due to the higher gravimetric and volumetric energy offered by lithium-ion batteries as compared to other rechargeable batteries. Furthermore, increased urbanization and smart cities are predicted to fuel EV expansion, accelerating the market for electric vehicle onboard chargers.

"Amongst vehicle type, electric vehicle segment witness significant growth during the forecast period"

Based on vehicle type, the market is classified into motorcycle, scooter, electric bike, and sports bike. The electric bikes segment of the vehicle is estimated to grow at a higher CAGR during the forecast period, as there is an increasing demand for electric vehicles across the globe to reduce environmental pollution. Furthermore, electric bicycles are a versatile, eco-friendly, and fashionable form of transportation. Consumers regard them as a viable alternative to scooters, smart cars, and public transportation. E-bikes help to reduce traffic congestion because of their reduced size, ability to reach higher speeds with less effort, and health advantages gained from peddling.

"APAC to witness significant growth during the forecast period"

Asia-Pacific is expected to show the highest CAGR growth in the motorcycle battery market. This is because of the increasing adoption and deployment of electric vehicles in countries like China, and India. The increase in infrastructure development in emerging economies, as well as the expansion of operations, has contributed to the growth of the APAC market. Additionally, e-bikes are increasingly being purchased throughout the region for cost-effective and environmentally friendly commuting for short distances, such as commuting to work or the office. Moreover, some of the major Players such as Yamaha Motor Corporation, Mahindra & Mahindra Ltd., Kawasaki, and Suzuki are increasing their production and working on the development of new products. These factors will propel the growth of the motorcycle battery market in the region during the forecast period. For instance, in April `19, the four biggest Japanese manufacturers Honda, Kawasaki, Suzuki, and Yamaha announced to work together towards standardizing battery swapping technology for electric motorcycles.

Reasons to buy this report:

The study includes market sizing and forecasting analysis validated by authenticated key industry experts.

The report presents a quick review of overall industry performance at one glance.

The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments.

Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.

The study comprehensively covers the market across different segments.

Deep dive regional level analysis of the industry.

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