Motorcycle Battery Market: Current Analysis and Forecast (2022-2028)
Emphasis On Type, (Lead Acid, Lithium-Ion); Build (SLI battery, AGM battery, and lithium battery); Vehicle Type (Motorcycle, Scooter, Electric Bike, Sports Bike); and Region/Country
The global motorcycle battery market is expected to register a robust CAGR of 4% over the period of 2021-2027. Batteries are a critical component of every vehicle and motorcycles are no exception to that. Their prime purpose was and still is to empower SLI (starting, lighting and ignition), but now batteries also have to be strong enough to power onboard electronics and complete propulsion units in the case of the electric motorcycle. In addition, the growth of the electric vehicle battery market expanded significantly over the last years, underpinned by supportive policies and technological advances for clean energy across the world. Moreover, the Surging demand for electric vehicles would propel the demand for motorcycle batteries.
Moreover, the growth of the market is influenced by factors such as the increased number of motorbikes on the road. Furthermore, battery advancements utilizing semiconductor devices such as sensors and supercapacitors are expected to extend battery life, boosting the demand for motorcycle batteries. Additionally, the governments of several nations throughout the world subsidize battery makers for electric vehicles because they emit less pollution.
EnerSys, GS Yuasa International Ltd., BS-Battery, Exide Industries Ltd., Batterie Unibat, Robert Bosch GmbH, Deltran Battery Tender, Dynavolt, Johnson Controls International, and KOYO BATTERY CO. LTD are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.
Insights Presented in the Report
“Amongst type, lithium-ion category holds the dominant position in the market”
Based on type, the market is divided into lead-acid and lithium-ion. Among them, the lithium-ion category is anticipated to have significant growth during the forecast period. The success of lithium-ion batteries in every field is mainly due to the higher gravimetric and volumetric energy offered by lithium-ion batteries as compared to other rechargeable batteries. Furthermore, increased urbanization and smart cities are predicted to fuel EV expansion, accelerating the market for electric vehicle onboard chargers.
“Amongst vehicle type, electric vehicle segment witness significant growth during the forecast period”
Based on vehicle type, the market is classified into motorcycle, scooter, electric bike, and sports bike. The electric bikes segment of the vehicle is estimated to grow at a higher CAGR during the forecast period, as there is an increasing demand for electric vehicles across the globe to reduce environmental pollution. Furthermore, electric bicycles are a versatile, eco-friendly, and fashionable form of transportation. Consumers regard them as a viable alternative to scooters, smart cars, and public transportation. E-bikes help to reduce traffic congestion because of their reduced size, ability to reach higher speeds with less effort, and health advantages gained from peddling.
“APAC to witness significant growth during the forecast period”
Asia-Pacific is expected to show the highest CAGR growth in the motorcycle battery market. This is because of the increasing adoption and deployment of electric vehicles in countries like China, and India. The increase in infrastructure development in emerging economies, as well as the expansion of operations, has contributed to the growth of the APAC market. Additionally, e-bikes are increasingly being purchased throughout the region for cost-effective and environmentally friendly commuting for short distances, such as commuting to work or the office. Moreover, some of the major Players such as Yamaha Motor Corporation, Mahindra & Mahindra Ltd., Kawasaki, and Suzuki are increasing their production and working on the development of new products. These factors will propel the growth of the motorcycle battery market in the region during the forecast period. For instance, in April `19, the four biggest Japanese manufacturers Honda, Kawasaki, Suzuki, and Yamaha announced to work together towards standardizing battery swapping technology for electric motorcycles.
Reasons to buy this report:
- The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
- The report presents a quick review of overall industry performance at one glance.
- The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments.
- Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
- The study comprehensively covers the market across different segments.
- Deep dive regional level analysis of the industry.
Customization Options:
Global motorcycle battery market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to contact us to get a report that completely suits your requirements.
Table of Contents
Research Methodology for the Motorcycle Battery Market Analysis (2021-2027)
Analyzing the historical market, estimation of the current market, and forecasting the future market of the motorcycle battery market were the three major steps undertaken to create and analyze the adoption of motorcycle battery market in major regions globally. Exhaustive secondary research was conducted to collect the historical market figures and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the motorcycle battery market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of motorcycle battery market through company internal sources such as annual report & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the motorcycle battery market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments included in the report as cable type, and end-use. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the motorcycle battery market. Further, we conducted factor analysis using dependent and independent variables such as type, build, vehicle type of the motorcycle battery market. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the motorcycle battery market sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global motorcycle battery market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast about 2027 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of revenue (USD) and the adoption rate of motorcycle Battery market across the major markets domestically
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the global motorcycle battery market in terms of solutions offered. Also, the growth strategies adopted by these players to compete in the fast-growing market
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, and Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Market Engineering
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers of each segment and sub-segment of the global motorcycle battery market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of type, build, vehicle type and end-use in the global motorcycle battery market.
The main objective of the Global Motorcycle Battery market Study
The current & future market trends the of global motorcycle battery market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investment from the qualitative and quantitative analysis performed in the study. Current and future market trends were determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of the motorcycle Battery market in terms of Value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
- Segments in the study include areas of cable type, build, and vehicle type.
- Define and analysis of the regulatory framework for the motorcycle battery market industry.
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
- Analyze the current and forecast market size of the motorcycle battery market for the major region.
- Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the world.
- Company profiles of the motorcycle battery market and the growth strategies adopted by the market players to sustain in the fast-growing market
Deep dive regional level analysis of the industry
Related Reports
Customers who bought this item also bought
India 3PL Market: Current Analysis and Forecast (2024-2032)
Emphasis on By Services (Domestic Transportation Management, International Transportation Management, Value-Added Warehousing and Distribution); By End User (Automobile, Chemical, Construction, Consumer Retail, Energy, Manufacturing, Life Sciences and Healthcare, Technology, and Others), and Regions (North India, East India, West India, and South India)
November 5, 2024
