Press release
Power-sports Batteries Market Projected to Exhibit Growth at 4.8% CAGR by 2031- TMR Study
Market Overview
The global Power-sports Batteries Market was valued at US$ 7.1 billion in 2022 and is projected to exhibit a Compound Annual Growth Rate (CAGR) of 4.8% from 2023 to 2031, reaching an estimated US$ 10.9 billion by the end of 2031. Analysts attribute this growth to the increased usage of advanced technologies by manufacturers to enhance vehicle efficiency and performance, alongside a rising interest in electric vehicles, particularly e-bikes.
๐๐๐ช๐ฎ๐๐ฌ๐ญ ๐๐จ๐ซ ๐ ๐ฌ๐๐ฆ๐ฉ๐ฅ๐ ๐จ๐ ๐ญ๐ก๐ข๐ฌ ๐ซ๐๐ฌ๐๐๐ซ๐๐ก ๐ซ๐๐ฉ๐จ๐ซ๐ญ ๐๐ญ (๐๐ฌ๐ ๐๐จ๐ซ๐ฉ๐จ๐ซ๐๐ญ๐ ๐๐๐ข๐ฅ ๐๐ ๐๐จ๐ซ ๐๐ฎ๐ข๐๐ค ๐๐๐ฌ๐ฉ๐จ๐ง๐ฌ๐) - https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=79386&utm_source=OpenPR_Ganesh&utm_medium=OpenPR
Key Drivers and Market Dynamics
The surge in demand for power-sports batteries is propelled by the adoption of advanced technologies to boost vehicle efficiency and performance. The market is also influenced by the growing interest in electric vehicles, especially e-bikes, as well as the overarching goal to minimize vehicle emissions. Developments in the electric car industry, rising demand for electric vehicles, a focus on innovation, and government assistance further contribute to the increasing demand for power-sports batteries.
Power-sports batteries, widely used in ATVs, motorcycles, UTVs, golf carts, watercraft, and snowmobiles, are characterized by high performance, maintenance-free operation, and complete sealing.
Regulatory Environment and Market Dynamics
Governments globally have imposed strict regulations on the production, storage, and shipping of batteries due to their chemical sensitivity. These regulations significantly impact the dynamics of the power-sports batteries market, influencing how manufacturers approach production and recycling.
Rapid Advancements in Battery Charging Technology
Technological advancements in battery charging technology have resulted in faster charging times, improved battery performance, and extended battery life. These innovations are accelerating the trend toward electric vehicles within the power-sports batteries market. The focus on creating unique, high-quality products is driving manufacturers to increase their production capacities worldwide.
Electrification Trends and Youth Interest
The electrification of vehicles and a growing interest among the younger generation in power-sports activities are pivotal factors contributing to market expansion. Electronic systems such as GPS, Bluetooth, and navigation systems require a constant power supply in vehicles, presenting growth opportunities for power-sports batteries. The surge in off-road sports, including hill climbing, short-course racing, and desert racing, is gaining popularity worldwide, further augmenting the power-sports battery market.
Vehicle Type and Sales Channel Analysis
The power-sports batteries market is segmented based on vehicle type, including motorcycles, scooters & mopeds, ATVs, UTVs, golf carts, water sports, snowmobiles, and lawn mowers. Among these, motorcycles are expected to account for a significant market share, driven by features like easy riding, strong motors, quick commutes, and affordability. The aftermarket/replacement segment dominates the market in terms of revenue, fueled by the short lifespan of batteries that necessitates regular replacement. However, advancements in battery technology are anticipated to increase the shelf life of batteries, influencing the market dynamics.
Regional Outlook
Asia Pacific is poised to dominate the global power-sports batteries market during the forecast period. The region's numerous two-wheeler manufacturers and high demand for motorcycles in countries like China, India, and Indonesia contribute to this dominance. The forecast predicts an increase in motorcycle manufacturing, further driving the demand for motorcycles and scooters.
Key Market Players and Developments
Key players in the power-sports batteries market include Crown Battery, Discover Battery, Clarios, East Penn Manufacturing Company, EnerSys, Fullriver Battery, Go Power!, GS Yuasa Corporation, Interstate Batteries, Harris Battery, Johnson Controls, Lifeline, MIDAC Batteries, Exide Technologies, Navitas Systems, Power Sonic Corporation, RELiON Batteries, Scorpion Battery, Inc., Skyrich Powersport Batteries, Smart Battery, Trojan Battery, U.S. Battery, and Unibat.
๐๐ฎ๐ฒ ๐ญ๐ก๐ข๐ฌ ๐๐ซ๐๐ฆ๐ข๐ฎ๐ฆ ๐๐๐ฌ๐๐๐ซ๐๐ก ๐๐๐ฉ๐จ๐ซ๐ญ | ๐๐ฆ๐ฆ๐๐๐ข๐๐ญ๐ ๐๐๐ฅ๐ข๐ฏ๐๐ซ๐ฒ ๐๐ฏ๐๐ข๐ฅ๐๐๐ฅ๐ ๐๐ญ - https://www.transparencymarketresearch.com/checkout.php?rep_id=79386<ype=S&utm_source=OpenPR_Ganesh&utm_medium=OpenPR
About Us Transparency Market Research
Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.
Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision-makers, made possible by experienced teams of Analysts, Researchers, and Consultants. The proprietary data sources and various tools & techniques we use always reflect the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in all of its business reports.
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