Motorcycle Lead Acid Battery Market Revenues to Hit US$ 7 Bn by 2027; Two Wheeler Sales Creating Opportunity in APAC, Says FMI in a New Report
Established players in the motorcycle lead acid battery market are tapping opportunities in Asia Pacific region, banking on e-mobility expansion and motorcycle tech advancements.
DUBAI, UAE / ACCESSWIRE / February 25, 2020 / Riding the growing demand for two wheeler vehicles, the global motorcycle lead acid battery market is projected to hit revenues worth US$ 7 Bn by the end of 2027. Increasing consumer demand for motorcycles in Europe and North America has generated major opportunities of growth for the motorcycle lead acid battery market. A new Future Market Insights (FMI) study reveals that long-term contracts and regional expansion would remain the focal points for manufacturers in the motorcycle lead acid battery market.
“The APAC motorcycle lead acid battery market holds significant opportunities, on the back of increasing demand for motorcycles in countries such as China and India, boosting the demand for motorcycle lead acid batteries at a rapid pace in the region,” says the FMI report.
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Motorcycle Lead Acid Battery Market: Key Findings
- Lead acid batteries are widely installed in motorcycles, sustaining adoption rate over the foreseeable future.
- The prices of motorcycle lead acid batteries are declining, and the short life cycle of these products keeps the consumption up.
- Asia Pacific will remain the leading regional market, as sales of motorcycle fleet remain concentrated in China and India.
- The aftersales channel would remain largely fragmented in comparison with OEMs, owing to strong presence of local players.
Motorcycle Lead Acid Battery Market: Key Driving Factors
- Rising modifications and electrification of motorcycles is driving demand for high-performance batteries.
- Increasing preference for AGM batteries in North America and Europe contributes towards regional market growth.
- Higher automotive sales, particularly in China, India, and other South East Asian countries, bolster adoption rate.
Motorcycle Lead Acid Battery Market: Key Restraints
- Lead acid battery technology faces stiff competition from alternatives such as lithium ion, zinc-air, and nickel metal hydride, restricting market growth.
The global motorcycle lead acid battery market is moderately fragmented, where leading players are increasing efforts to reap benefits of strategic alliances. Targeting fast growth of two wheeler sales in APAC to leverage expansion of regional operations will be among the key strategies of manufacturers. Companies are also investing in large-scale projects to meet the requirements associated with fragmented supply chains in the region. FMI’s analysis also indicates that companies are preferring tie-ups with two wheelers to gain dominance in automotive battery space.
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Some of the major companies operating in the global motorcycle lead acid battery market include, but are not limited to, Camel Group Co. Ltd., Bosch Ltd., Southern Batteries Pvt. Ltd., Banner Battery, Deltran Battery Tender, Dynavolt Renewable Energy Technology Co. Ltd., Chaowei Power, and Leoch International Technology Ltd Inc..
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About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in London, the global financial capital, and has delivery centres in the U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and take critical decisions with confidence and clarity amidst breakneck competition.
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SOURCE: Future Market Insights
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