The anticipated size of the Two-wheeler Lead Acid Batteries Market in 2022 was USD 4,900 million and is estimated to be USD 5,215 million in 2023. Rapid urbanization across the globe is considered to be one of the major drivers of the two-wheeler lead acid batteries market.
Future Market Insights has mentioned in its reports that the two-wheeler lead acid batteries market will expand at a CAGR of 8.47% between 2023 and 2033, totaling around USD 11,760 million by 2033.
Rapid expansion of the automotive sector, along with increasing sales of mobility vehicles across the globe is expected to have a direct impact on sales of two-wheeler lead acid batteries. Increasing sales of electric vehicles are also anticipated to bode well for the market.
Manufacturers of lead acid batteries are focusing on improving the performance and safety of these batteries to improve sales. They are also investing in collaborations and partnerships to expand their facilities in untapped markets, which will continue pushing sales over the forecast period.
A half-yearly comparison of the growth forecast for the Two Wheeler Lead Acid Batteries Market along with the market’s key developments has been presented by Future Market Insights.
Due to increasing developments to enhance battery performance the demand for two-wheeler batteries has increased, along with increasing sales of electric two-wheelers in FY 2022 has boosted the demand for two-wheeler batteries.
Key reasons behind the change in growth rate are attributed to enhance demand for a personal mode of transportation in Asian countries due to which the popularity of 2 wheelers has increased since Two-wheelers are one of the most convenient and cost-effective ways of transportation.
Market is expected to have high demand across various regions, as Sales of two-wheelers are being fueled by the prevalence of subpar public transportation in many cities, which is anticipated to fuel the market in the years to come.
People are choosing more functional mobility options like two-wheelers as a result of worsening traffic congestion and rising gasoline and diesel prices, which is expected to drive the market for two-wheeler lead acid batteries.
| Attributes | Details |
|---|---|
| Projected Forecast Value (2022) | USD 4,900 million |
| Projected Forecast Value (2023) | USD 5,215 million |
| Projected Forecast Value (2033) | USD 11,760 million |
| Growth rate | 8.47% CAGR |
| Forecast period | 2023 to 2033 |
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Global two-wheeler lead acid batteries market grew at a CAGR of 7.66% between 2017 and 2022. Growth forecasts remain optimistic, with the market predicted to exhibit a CAGR of 8.47% between 2023 and 2033.
Prevalence of inadequate public transport in various cities is driving sales of two-wheelers, which is expected to drive the market in the forthcoming years. Increasing traffic congestion and surging petrol and diesel charges are compelling consumers to opt for more convenient mobility solutions such as two-wheelers.
Consumers are adopting electric vehicles in response to stringent regulations regarding carbon emissions generated by vehicles. Rising fuel prices in developing economies are also driving this shift, thereby boosting sales of two-wheeler lead acid batteries.
Concerns regarding the risk of battery explosion due to overcharging are expected to hamper sales in the forthcoming years. To counter this problem, manufacturers are investing in research and development to improve battery life and performance.
Growth in Interest in Recreational Activities
Growing interest in recreational activities among millennials is boosting sales of two-wheelers. Recreational activities such as countryside riding and biking use vehicles with high-capacity engines. This is propelling sales in the two-wheeler rental services market in the tourism sector, which is expected to boost the market in the forthcoming.
Surging trend of micro-mobility in tourism spots in countries such as the United Kingdom, Italy, France, China, and India will continue propelling sales of two-wheelers like scooters, motorcycles, mopeds, and three-wheeled scooters.
Tourists use these vehicles to explore remote areas and to travel from scenic locations and retreats to hotels and resorts. This is anticipated to boost sales of two-wheeler lead acid batteries over the forecast period.
Principal Consultant
High Incidence of Lead Acid Battery Explosions
High incidence of lead acid battery explosions in vehicles, stationary and mobile plants, and mines and quarries. Owing to this, consumers are preferring lithium-ion batteries, which is expected to hamper sales in the market.
Lithium-ion batteries are being preferred in the automotive sector as they provide efficient energy storage in vehicles. These batteries are compact and lightweight, which makes them an ideal contender in electric vehicles.
These batteries use non-aqueous electrolytes that provide higher operating voltage as compared to lead-acid batteries and sodium-sulfur batteries. FMI says, increasing the adoption of lithium-ion batteries might restrict the growth in the market over the forecast period.
Manufacturers are Using Two-Wheeler Lead Acid Batteries for High Performance
FMI says that sales in the United States market are expected to remain high over the forecast period with a market share of 44.1%. The North American two-wheeler lead acid batteries market is forecast to hold 47.2% of the total market share.
Increasing sales of electric vehicles are expected to bode well for the United States market in the forthcoming years. Consumers are preferring two wheelers like scooters, mopeds, and three-wheeled scooters to commute within university campuses, schools, and hospital campuses, which will drive sales of lead-acid batteries.
The eCommerce industry is expanding in the United States, and manufacturers are using two-wheelers for delivering products to shorter destinations. This will continue augmenting the growth in the market over the assessment period.
Increasing Preference for Short Distance Mobility to Drive Sales of Two-Wheeler Lead Acid Batteries
China is expected to emerge as the most lucrative market for two-wheeler lead acid batteries. Sales in the East Asia market are projected to account for a dominant share expanding at a CAGR of 6.1% over the forecast period.
Growing preference for electric scooters is expected to drive the China market in the forthcoming years. The lack of efficient public transport in the country is compelling consumers to use scooters and motorcycles for daily commutes. Driven by this, demand for two-wheeler lead acid batteries in China is expected to gain traction over the forecast period.
Investments in the Production of Electric Scooters are Spurring Demand for Two-Wheeler Lead Acid Batteries
Sales in the Indian market are expected to remain high over the forecast period owing to the increasing adoption of electric vehicles, particularly scooters in the country. The South Asia two-wheeler lead acid batteries market is forecast to account for a CAGR of 5.32% of the total market share.
Presence of several two-wheeler manufacturers in India is expected to place it as an attractive pocket in the South Asia market. Players such as Hero Moto Corp, TVs, and Yamaha are offering new ranges of electric scooters. This is expected to boost sales of two-wheeler lead acid batteries in India over the assessment period.
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Above 20 AH Two Wheeler Lead Acid Batteries are Being Preferred in the Automotive Sector
FMI says demand in the 20 AH segment is forecast to remain high over the forecast period with a market share of 51.3% as these batteries offer a longer usable capacity than other batteries.
Automotive Manufacturers are Utilizing I.C. Engines in Two Wheelers
Global two-wheeler lead acid batteries market is segmented into I.C. engine and electrical with a market share of 49.2%. Sales in the I.C. engines segment are projected to gain traction over the forecast period.
Demand for VRLA Batteries to Gain Momentum Amid Increasing Sales of Two Wheelers
Sales in the VRLA batteries segment will continue gaining traction over the forecast period with a market share of 67.2%. VRLA batteries are considered safer and more reliable than flooded batteries. These batteries enclose dry cells for transferring power.
They also require minimal manual checkups as compared to conventional batteries. Driven by these benefits, these batteries are being preferred by OEMs and consumers alike.
Increasing Sales of Scooters Worldwide is Driving Demand for Two-Wheeler Lead Acid Batteries
Scooter segment is forecast to expand at a steady pace over the forecast period with a market share of 70.1%. Rising demand for scooters for effective short-distance mobility is expected to augment the growth in the market.
Growing interest in recreational activities among millennials is driving sales of scooters, thereby resulting in high demand for two-wheeler lead acid batteries.
Sales of Two-Wheeler Lead Acid Batteries through OEMs to Continue Rising
Sales in the OEM segment are projected to rise at a considerable pace over the assessment period with a market share of 60.3%. OEMs offer a wide variety of lead acid batteries with different capacities technologies and for various types of two-wheelers.
Easy availability, authenticity, warranty, and quality assurance offered by OEMs are key factors anticipated to drive sales in this segment over the forecast period.
Some of the key players are-
Some of the important developments are-
In June 2020, Koyo Canada, a subsidiary of automotive technology company JTEKT acquired assets of a Nova Scotia-based research and development facility which was previously owned by KSR International.
In July 2023, KOTA KINABALU- a new system for providing electricity supply to rural and interiors by the usage of a new lithium-ion type battery-powered solar system, just like Electric Vehicles (EV), will be introduced to ensure a longer duration of power supply compared with the old batteries used.
| Attribute | Details |
|---|---|
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2017 to 2022 |
| Market Analysis | Units for Volume and USD million for Value |
| Key Regions Covered | North America; Latin America; Western Europe; Eastern Europe; South Asia and Pacific; East Asia; Middle East and Africa |
| Key Countries Covered | United States, Canada, Brazil, Mexico, Germany, United Kingdom, France, Spain, Italy, Russia, Poland, Czech Republic, Romania, China, Japan, South Korea, India, Bangladesh, Australia, New Zealand, GCC countries, South Africa, Israel |
| Key Market Segments Covered | Capacity, Technology, Two-Wheeler, Battery Type, Sales Channel, Region |
| Key Companies Profiled | Banner Batteries; Dynavolt Renewable Energy Technology Co., Ltd.; Tianneng Power International Ltd; Leoch International Technology Limited; Batterie Unibat; EnerSys Inc.; Chaowei Power Holdings Limited; Southern Batteries Pvt. Ltd.; BS-BATTERY; KOYO BATTERY |
Banner Batteries and KOYO BATTERY are the key players in the global market.
OEM is capturing high revenue in the global market.
The market is estimated to secure a valuation of USD 5,215 million in 2023.
The market is estimated to reach USD 11,760 million by 2033.
VRLA batteries segment holds high revenue potential.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Capacity 5.1. Less than 5 AH 5.2. 5 AH to 10 AH 5.3. 10 AH to 20 AH 5.4. Above 20 AH 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Technology 6.1. I.C. Engine 6.1.1. Up to 150 CC 6.1.2. 151-300 CC 6.1.3. 301-500 CC 6.1.4. Above 500 CC 6.2. Electric 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Two Wheeler 7.1. Motorcycles 7.1.1. Standard 7.1.2. Cruisers 7.1.3. Sports 7.1.4. Mopeds 7.1.5. Electric 7.2. Scooters 7.2.1. Standard 7.2.2. Maxi 7.2.3. Enclosed 7.2.4. Three-wheeled 7.2.5. Electric 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Battery Type 8.1. VRLA Batteries 8.2. Flooded 9. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Sales Channel 9.1. OEMs 9.2. Aftermarket 10. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 10.1. North America 10.2. Latin America 10.3. Western Europe 10.4. Eastern Europe 10.5. South Asia and Pacific 10.6. East Asia 10.7. Middle East and Africa 11. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 16. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 17. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 18. Key Countries Market Analysis 19. Market Structure Analysis 20. Competition Analysis 20.1. Banner Batteries 20.2. Dynavolt Renewable Energy Technology Co., Ltd. 20.3. Tianneng Power International Ltd 20.4. Leoch International Technology Limited 20.5. Batterie Unibat 20.6. EnerSys Inc. 20.7. Chaowei Power Holdings Limited 20.8. Southern Batteries Pvt. Ltd. 20.9. BS-BATTERY 20.10. KOYO BATTERY 21. Assumptions & Acronyms Used 22. Research Methodology
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Two-Wheeler Lead Acid Batteries Market
