Solar and Motorcycle Battery Market Size, Share, Trends, Analysis and Outlook, Forecast 2023-2030.

Market Overview:

Global Solar and Motorcycle Battery Market reached USD 243.4 million in 2022 and is expected to reach USD 988.6 million by 2030, growing with a CAGR of 19.2% during the forecast period 2023-2030. Solar batteries are often used to store and release solar energy as required.
The batteries are either lead-acid or lithium-ion. It is frequently rechargeable and may store excess energy in solar cell frameworks. Solar power plants, off-grid storage systems, and solar charging stations are just a few of the many uses for solar batteries. The increased demand for ecologically friendly energy storage solutions drives the market's rise.

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Market Drivers:

Beneficial Government Regulations for Photovoltaic Energy Production

According to the U.S. Solar Energy Industries Association (SEIA), the government has put in place policies to promote the use of photovoltaic technology to generate electricity, such as net metering and solar panels. Consumers in countries such as the United States, Spain, and France may utilize photovoltaic energy for their own electrical needs and sell the extra solar energy they do not need.

In comparison to other countries, China's solar photovoltaic industry has grown significantly. According to the China Photovoltaic Industry Association, China's solar energy capacity expanded by 34% year on year in 2018. By the end of 2018, total installed PV capacity has surpassed 170 gigatonnes, up from 136 gigatonnes in 2017. With the increased use of photovoltaic technology, the need for solar batteries is expected to grow rapidly.

Market Segmentation: Growing Lithium-Ion Demand as a Result of the Increasing Presence of Sustainable Energy Solutions

With a market share of around 45.4% worldwide, the lithium-ion category dominates the solar and motorcycle battery industry. Prominent providers of lithium-ion solar energy storage batteries include Tesla, LG Chem, and CATL. Alternative batteries are usually not as popular as lithium-ion batteries because of their weight reduction of 50-60% compared to lead-acid batteries.

Market Companies:

The major global players include Tesla, LG Chem, Panasonic Corporation, BYD Company, Samsung SDI, East Penn Manufacturing Co., Yuasa Battery, Inc., Exide Technologies, GS Yuasa Corporation and Johnson Controls.

By Type

• Lead Acid
• Lithium-ion
• Flow Battery
• Others

By Ampere Range

• Less than 2.5 Amp
• More than 2.5 Amp

By Distance Covered

• Below 75 Miles
• 75 - 100 Miles
• Above 100 Miles

By Motorcycle Type

• Scooters
• Motorcycles
• Sports Bikes
• Cruisers
• Others

By End-User

• Commercial
• Residential
• Industrial

By Region

• North America
• Latin America
• Europe
• Asia Pacific
• Middle East and Africa

Geographical Share:

Growing Opportunities for Investment in New Solar Power Plants in Asia-Pacific

The market for motorbike and solar batteries in Asia-Pacific has grown significantly, and by 2022 it will hold a third of the market. Asia Pacific, which comprises developed nations like South Korea and Japan and developing nations like China and India, has the biggest automobile market. In recent years, the region has become a hub for the production of autos.

Industry Developments:

On April 5, 2022, Panasonic is joining the high-growth electric vehicles market, with plans to invest nearly US$4.9 billion in automotive batteries, supply chain software and cyber-physical systems, among others.

Related Reports:

Solar Inverter and Battery Market- https://www.datamintelligence.com/research-report/solar-inverter-and-battery-market

Lead Acid Battery Separator Market- https://www.datamintelligence.com/research-report/lead-acid-battery-separator-market

Lithium-Ion Battery Anode Market- https://www.datamintelligence.com/research-report/lithium-ion-battery-anode-market

Lithium-Ion Battery Market- https://www.datamintelligence.com/research-report/lithium-ion-battery-market

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This release was published on openPR.