Press release
Recreational Vehicles (RVs) Batteries Market - Strategies, Challenges, Geography Trends & Growth forecast 2030
The global recreational vehicles (RVs) batteries market is anticipated to expand at a CAGR of 7% during the forecast period, owing to adoption of technologies by vehicle manufacturers who are enhancing vehicle efficiency and vehicle performance. Increase in demand for electric vehicles coupled with the demand for vehicle technology to reduce vehicle emissions is likely to further propel the global recreational vehicles (RVs) batteries market during the forecast period.Technological advancements in the vehicle battery technology have enabled automakers to increase the cruising range of electric vehicles. This, in turn, is anticipated to increase the trend toward electric vehicles and consequently, propel the recreational vehicles (RVs) batteries market during the forecast period.
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Drivers of Recreational Vehicles (RVs) Batteries Market
Vehicle electrification refers to a range of technologies that use electricity to propel a vehicle. Electric vehicles are designed in order to operate on electricity, and the consumption of fossil fuels is reduced. Electric vehicles are also likely to help achieve the target of low carbon emissions from vehicles. Therefore, major players engaged in the value chain of manufacturing the recreational vehicle are expected to shift toward vehicle electrification.
The primary function of a recreational vehicle is to provide comfort to passengers. Vehicle electrification enables RVs to be fitted with state-of-the-art luxury equipment such as stereo systems, HVAC systems, GPS navigation systems, satellite television, and advanced safety systems. Therefore, increase in vehicle electrification is expected to boost the global recreational vehicles (RVs) batteries market.
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Technological advancements, in terms of battery technology, are expected to boost the global recreational vehicles (RVs) batteries market. Battery technologies, such as Li-ion batteries and solid state batteries have enabled automakers and OEM players to increase the power output of a battery.
For instance, Li-ion battery technology allows the highest level of energy density. The large choice of cell design and chemistries in Li-ion batteries can help in terms of performance such as fast charge or temperature operating window (-50°C up to 125°C). Moreover, Li-ion batteries display additional advantages such as very low self-discharge and very long lifetime and cycling performances, typically thousands of charging/discharging cycles.
Fast charging technologies charge RV batteries at a rapid rate. All these factors are expected to propel the global recreational vehicles (RVs) batteries market.
Recreational Vehicles (RVs) Batteries Market: Segmentation
The global recreational vehicles (RVs) batteries market has been segmented based on RV type, voltage range, battery function, battery type, sales channel, and region
Based on RV type, the global recreational vehicles (RVs) batteries market has been divided in to travel trailer, fifth wheel, Class A, Class B, and Class C. The travel trailer segment dominated the global recreational vehicles (RVs) batteries market. Camping and trekking activities are increasing globally, as people are spending more on outdoor travels resulting in the increased demand for traveling vehicles for tourist. This is likely to drive the demand of travel trailers and subsequently, boost the segment.
Based on voltage range, the 12 volt batteries segment held a major share of the global market. Increase in use of in vehicle luxury systems and appliances in recreational vehicles is expected to propel the 12 volt battery segment. 12 volt is a safer voltage for DC circuits, as opposed to any higher operating voltages, in vehicles. Most vehicle systems in recreational vehicles operate on 12 volts, making this voltage the most widely used.
Recreational Vehicles (RVs) Batteries Market: Regional Analysis
In terms of the region, the global recreational vehicles (RVs) batteries market has been split into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa
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Based on region, North America held a major share of the global recreational batteries market. High disposable income of the population and openness toward new technologies in countries across North America are propelling the recreational vehicle batteries market in the region. Rise in awareness about benefits of electric vehicles and their benefits among consumers in countries across North America is further propelling the recreational vehicles (RVs) batteries market in the region.
Asia Pacific is projected to be highly lucrative market, globally, during the forecast period. This is primarily, owing to the presence of a prominent automotive industry in China, Japan, and India. Consistent rise in vehicle production across East Asia is anticipated to drive the recreational vehicles (RVs) batteries market during the forecast period.
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Recreational Vehicles (RVs) Batteries Market: Competition Landscape
Key players operating in the global recreational vehicles (RVs) batteries market include
Crown Battery
Discover Battery
East Penn Manufacturing
EnerSys
Exide Technologies
Fullriver Battery USA
Go Power!
Harris Battery
Interstate Batteries
Johnson Controls
Lifeline
MIDAC Batteries
MPower
Navitas Systems
RELiON Batteries
Smart Battery
Trojan Battery
U.S. Battery
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