The global motorcycle batteries market size is poised to grow by 8.63 million units during 2020-2024, progressing at a CAGR of almost 4% throughout the forecast period, according to the latest report by Technavio. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. Download a Free Sample of REPORT with COVID-19 Crisis and Recovery Analysis.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201019005358/en/
Technavio has announced its latest market research report titled Global Motorcycle Batteries Market 2020-2024 (Graphic: Business Wire)
The market is driven by the cost advantage of lead-acid batteries over lithium-ion batteries. Lead-acid batteries have been able to retain their market share in electric vehicle applications even with the introduction of new battery chemistries, such as the lithium-ion battery. Furthermore, lead-acid batteries offer high cranking current ideal for stationary applications, such as uninterruptible power supply (UPS). The energy density of lithium-ion batteries ranges from 90 Wh/kg to 120 Wh/kg, compared with 30Wh/kg-40Wh/kg for lead-acid batteries. The battery life cycle of lithium-ion batteries is five to 15 times longer than lead-acid batteries. However, the price of lithium-ion batteries must be reduced further to compete in the batteries market.
Register for a free trial today and gain instant access to 17,000+ market research reports.
Technavio’s SUBSCRIPTION platform
The major motorcycle batteries market growth came from the lead-acid batteries segment in 2019, and is expected to witness the fastest growth during the next five years.
APAC was the largest motorcycle batteries market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. This is attributed to factors such as the increasing economic standards and standard of living of individuals.
The global motorcycle batteries market is fragmented. Berkshire Hathaway Inc., BS-Battery, Clarios, EnerSys, Exide Technologies, GS Yuasa Corp., Hitachi Ltd., Leoch International Technology Ltd., Robert Bosch GmbH, and Schneider Electric SE are some of the major market participants. To help clients improve their market position, this motorcycle batteries market forecast report provides a detailed analysis of the market leaders.
As the business impact of COVID-19 spreads, the global motorcycle batteries market 2020-2024 is expected to have negative growth. As the pandemic spreads in some regions and plateaus in other regions, we revaluate the impact on businesses and update our report forecasts.
Buy 1 Technavio report and get the second for 50% off. Buy 2 Technavio reports and get the third for free.
View market snapshot before purchasing
Development of Supercapacitors as Next-Generation Batteries will be a Key Market Trend
The development of supercapacitors as next-generation batteries, one of the key motorcycle batteries market trends, will also drive market growth during the forecast period. The power storage of supercapacitors can be fast and reliable. Supercapacitors are superior to lead-acid batteries in terms of power density and they can be charged quickly than