In 2022, the global market for two-wheeler lead acid batteries was valued at USD 4,900 million, with a projected increase to USD 5,215 million in 2023. According to Future Market Insights, this market is expected to grow at a CAGR of 8.47% from 2023 to 2033, potentially reaching around USD 11,760 million by 2033.
Manufacturers of lead acid batteries are concentrating on improving the performance and safety of their products to enhance sales. They are also investing in collaborations and partnerships to expand into untapped markets, which will further drive sales throughout the forecast period.
The demand for two-wheelers is rising due to inadequate public transportation in various cities. Additionally, increasing traffic congestion and rising petrol and diesel prices are pushing consumers toward more convenient mobility solutions, such as two-wheelers.
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Key Takeaways from the Market Study
- Global two-wheeler lead acid batteries market grew at a CAGR of 7.66% between 2017 and 2022.
- United States market is 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.
- China accounts for a dominant share expanding at a CAGR of 6.1% over the forecast period.
- Under capacity type, the 20 AH segment is forecast to remain high over the forecast period with a market share of 51.3%.
- Under technology type, I.C. engine and electrical with a market share of 49.2%.
“Growth in interest in recreational activities is considered one of the major drivers of the two-wheeler lead acid batteries market”, – comments a Future Market Insights analyst.
Competition Landscape
Key players operating in the global two-wheeler lead acid batteries market are investing in research and development to improve battery life and product quality. In addition to this, players are investing in mergers, acquisitions, and collaborations to expand their production facilities in untapped markets. For instance:
- EnerSys the global leader in stored energy solutions for industrial applications, announced that it has entered into a non-binding Memorandum of Understanding with Verkor SAS, a European leader in battery technology, for exploring the development of a lithium battery gigafactory in the United States.
Some of the key players are-
- 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
Two Wheeler Lead Acid Batteries Market by Category
Capacity:
- Less than 5 AH
- 5 AH to 10 AH
- 10 AH to 20 AH
- Above 20 AH
Technology:
- I.C. Engine
- Up to 150 CC
- 151-300 CC
- 301-500 CC
- Above 500 CC
- Electric
Two Wheeler:
- Motorcycles
- Standard
- Cruisers
- Sports
- Mopeds
- Electric
- Scooters
- Standard
- Maxi
- Enclosed
- Three-wheeled
- Electric
Battery Type:
- VRLA Batteries
- Flooded
Sales Channel:
- OEMs
- Aftermarket
Region:
- North America
- Latin America
- Eastern Europe
- Western Europe
- Asia Pacific excluding China & Japan
- Japan
- China
- Middle East & Africa
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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