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Motorcycle Lead Acid Battery Market Report 2024 - Motorcycle Lead Acid Battery Market Trends And Growth
Motorcycle Lead Acid Battery Market
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According to The Business Research Company's, The motorcycle lead acid battery market size has grown strongly in recent years. It will grow from $5.06 billion in 2023 to $5.39 billion in 2024 at a compound annual growth rate (CAGR) of 6.3%. The growth in the historic period can be attributed to growing urbanization, increasing consumer awareness and education, growth of ride-sharing and delivery services, increasing electrification of motorcycle fleets for public, and growth in the charging infrastructure.
The motorcycle lead acid battery market size is expected to see strong growth in the next few years. It will grow to $6.91 billion in 2028 at a compound annual growth rate (CAGR) of 6.4%. The growth in the forecast period can be attributed to increasing focus on improving the energy density and power density, introduction of battery leasing programs for consumers, use of lead acid batteries in conjunction with renewable energy sources, high replacement rates for lead acid batteries in motorcycles, and establishment of battery swapping stations. Major trends in the forecast period include innovations in sealing technologies, adoption of greener manufacturing processes, development of safety features, nanotechnology applications, and advanced thermal management systems.
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Market Drivers and Trends:
The increasing demand for two-wheeled EV motor vehicles is expected to propel the growth of the motorcycle lead acid battery market going forward. A two-wheeled motor vehicle, also known as a motorcycle or motorbike, is a motorized vehicle designed to travel on two wheels. The increasing demand for two-wheelers is rising due to affordability, fuel efficiency, ease of navigation in urban congestion, and flexibility in urban and rural settings. Lead-acid batteries benefit two-wheeled electric vehicles by offering a cost-effective, durable, and reliable energy storage solution. For instance, according to the Society Of Manufacturers Of Electric Vehicles, an India-based association representing Indian manufacturers of electric vehicles (EV), in 2021-2022, the number of electric two-wheeler sales was 2,52,641, which rose to 7,28,054 in 2022-2023. Therefore, the increasing demand for two-wheeled motor vehicles drives the motorcycle lead acid battery market growth.
Major companies operating in the motorcycle lead acid battery market are developing battery interlayers to improve performance and safety. Motorcycle batteries that incorporate battery interlayers may achieve more significant safety requirements, improved performance, and longer life, making electric and hybrid motorcycles more reliable and enticing to riders. For instance, in October 2023, Maryland Energy Innovative Institute, a US-based research institute, developed an innovative battery interlayer. The technology involves using an Mg16Bi84 interlayer at the Li anode and an F-rich interlayer on NMC811 cathodes in all-solid-state lithium-metal batteries. These interlayers suppress dendrite growth, reduce interfacial resistance, and stabilize cathodes, enabling high energy density and fast charging at low stack pressures.
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Major Key Players of the Market:
Panasonic Holdings Corporation, Johnson Controls International plc, Clarios International Inc., Chaowei Power Holdings Limited, GS Yuasa Corporation, EnerSys, East Penn Manufacturing Co., Exide Industries Limited, Leoch International Technology Limited, The Amara Raja Group (Amaron), Shuangdeng Group Co Ltd, Coslight Technology International Group Ltd., Trojan Battery Company LLC, Power Sonic Corporation, HBL Power Systems Limited, Mutlu Battery and Materials Industry Inc., Hawker Powersource Inc., FIAMM Energy Technology S.p.A., MK Battery International, CSB Energy Technology Co. Ltd., EverExceed Industrial Co. Ltd., Thai Energy Storage Technology PLC, C&D Technologies Inc., Deltran USA LLC, HAZE Power Company Ltd.
Motorcycle Lead Acid Battery Market 2024 Key Insights:
• The motorcycle lead acid battery market size is expected to see strong growth in the next few years. It will grow to $6.91 billion in 2028 at a compound annual growth rate (CAGR) of 6.4%.
• Increasing Demand for Motor Vehicles Drives Growth in the Motorcycle Chain Sprocket Market
• Advancements in Battery Interlayers By Enhancing Safety and Performance in Motorcycle Batteries
• North America was the largest region in the motorcycle lead acid battery market in 2023, and is expected to be the fastest-growing region in the forecast period
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