The motorcycle lead acid battery market was valued at US$ 4,299.0 Mn in the year 2018 and expected to reach US$ 6,829.4 Mn by the year 2027, expanding at a CAGR of 5.3% during the forecast from 2019 to 2027.
“Rising Electrification of Vehicles expected to spur the Motorcycle Lead Acid Batteries demand over the Forecast Period”
Lead acid batteries are majorly used for Starting, Lighting and Ignition (SLI) application and for supplying 12V power to the vehicle’s electrical system. Approximately, one Bn lead acid batteries are being manufactured every year that accounts to 75% of the global lead demand. In addition, increasing modification and electrification has bolstered the requirement of powerful batteries. Moreover, rising demand for electric motorcycles have driven new contracts for lead-acid batteries. This has also increased the preference for AGM type lead acid battery in North America and Europe region.
• On March 09, 2017, Chaowei Power, a China-based automotive battery manufacturer launched a new version of lead acid battery that uses graphene as an additive. The new battery offer 52% less resistance coupled with huge improvement in low temperature performance.
• On June 13, 2016, Johnson Controls invested US$ 112 Mn to expand its manufacturing facility in Germany. The company aims to increase its production capacity for AGM batteries by 65%.
Key Market Movements:
• Globally, the motorcycle lead acid battery market projected to witness a CAGR of 5.3% during the forecast period from 2019 to 2027
• Absorbed Glass Mat (AGM) battery held maximum revenue share in the year 2018 owing to its major benefits over other types of batteries such as high power density, shorter recharge time, high performance in low temperature, and many more.
• In terms of vehicle type, motorcycle segment dominated the global motorcycle lead acid battery market. This is majorly attributed to rising demand of attractive and stylish bikes.
• North America and Europe contribute significantly to the global motorcycle lead acid battery market owing to increasing emphasis on electric powered vehicles.
• The Asia Pacific seems to be the most opportunistic region during the forecast period. This significant growth is mainly due to growth of automotive sales in the region.
List of Companies Covered:
• Bosch Ltd.
• Camel Group Co. Ltd.
• Southern Batteries Pvt. Ltd.
• Dynavolt Renewable Energy Technology Co. Ltd.
• Banner Battery
• Deltran Battery Tender
• Chaowei Power
• Leoch International Technology Ltd Inc.