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Two Wheeler Lead Acid Batteries Market Share, Latest Trends, Growth Status, Top Major Players And Forecast To 2033
Two Wheeler Lead Acid Batteries Market Share
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According to The Business Research Company's, The two-wheeler lead acid batteries market size has grown strongly in recent years. It will grow from $4.77 billion in 2023 to $5.11 billion in 2024 at a compound annual growth rate (CAGR) of 7.2%. The growth in the historic period can be attributed to increasing disposable income, increased sales of electric bicycles, growth in motorcycle production, growth in the number of two-wheeler rental services, and increasing use of motorcycles for last-mile delivery.
The two-wheeler lead acid batteries market size is expected to see strong growth in the next few years. It will grow to $6.82 billion in 2028 at a compound annual growth rate (CAGR) of 7.5%. The growth in the forecast period can be attributed to increasing two-wheeler sales, increasing urbanization, rising disposable incomes, increasing government incentives for electric vehicles, and rising demand for scooters. Major trends in the forecast period include electric vehicles, advancements in lead-acid battery technology, integration with smart technologies, hybrid technologies, and fast charging capabilities.
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Market Drivers and Trends:
The rising demand for electric bikes is expected to propel the growth of the two-wheeler lead-acid batteries market going forward. Electric bikes, or e-bikes, are bicycles equipped with an integrated electric motor that assists in propulsion. These bikes typically have a rechargeable battery that powers the motor, providing varying levels of assistance to the rider's pedaling efforts. The demand for electric bikes is due to their convenience, environmental benefits, and technological advancements, offering assisted propulsion through an integrated electric motor and rechargeable battery. Two-wheeler lead-acid batteries are used in electric bikes to store electrical energy, enabling them to help the rider's pedaling efforts or power the entire propulsion system in specific e-bike models. For instance, in November 2021, according to the Urban Transport Group, a UK-based transport organization, e-bike sales in Europe are expected to increase from 3.7 million in 2020 to 17 million by 2030. Therefore, the rising demand for electric bikes is driving the growth of the two-wheeler lead-acid battery market.
Major companies operating in the two-wheeler lead-acid batteries market are focused on developing innovative products, such as lithium batteries, to enhance performance and sustainability. Lithium batteries, or lithium-ion batteries (Li-ion), are rechargeable and utilize lithium ions for their high energy density, lightweight properties, and extended lifespan, making them essential for portable electronics, electric vehicles (EVs), and energy storage systems. For instance, in January 2024, Ipower Batteries Private Ltd., an Indian-based battery manufacturer, launched graphene-series lead-acid batteries in India. These batteries are noted for their improved energy efficiency, faster charging times, longer lifespan, and enhanced resilience to deep discharges compared to traditional lead-acid batteries. Graphene's properties also contribute to better thermal management and reduced weight, making them a promising advancement in battery technology for various applications, including automotive and renewable energy storage.
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Major Key Players of the Market:
Clarios LLC, Chaowei Power Holdings Limited, EnerSys Inc., EAST PENN Manufacturing Co. Inc., Camel Group Co. Ltd., Exide Industries Ltd., Amara Raja Batteries Limited, Saft Groupe SA., Sebang Global Battery Co. Ltd., FIAMM Group., C&D TECHNOLOGIES INC., Trojan Battery Company, NorthStar Battery, Hankook Atlasbx Co. Ltd., CSB Battery Company Inc., First National Battery, Battery Tender, Robert Bosch GmbH, GS Yuasa International Ltd., Banner GmbH & Co. KG, Unibat Batteries, BS Battery SRL., Koyo Battery Co. Ltd., Leoch Batteries India Private Limited
Two Wheeler Lead Acid Batteries Market 2024 Key Insights:
• The two-wheeler lead acid batteries market size is expected to see strong growth in the next few years. It will grow to $6.82 billion in 2028 at a compound annual growth rate (CAGR) of 7.5%.
• Impact Of Electric Bikes On The Two-Wheeler Lead-Acid Batteries Market
• Advancements In Two-Wheeler Lead-Acid Batteries
• Asia-Pacific was the largest region in the two-wheeler lead acid batteries market in 2023
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