Product Code: RP-ID-10346654 |
Published Date: 21 Oct 2022 |
Region: NA |
Category: Automotive & Transportation |
Report ID: 10346654
Market Overview:
Global Power-sports Batteries Market Size study, by Product (Conventional Flooded batteries and Absorbed Glass Mat), By Application (Snowmobile, ATV, Scooter, Jet Ski, Marine Boat and UTV) and Regional Forecasts 2020-2027
Global Power-sports Batteries Market is valued approximately USD XX billion in 2019 and is anticipated to grow with a healthy growth rate of more than 6% over the forecast period 2020-2027. The evolution of the automotive sector owing to advancements in technology has directed towards reduction in use of fossil fuels in automobiles leading to integration of Power Batteries. Increase in integration of electronic systems in vehicles including GPS, Bluetooth and navigation systems that require continuous power supply is expected to drive the demand for vehicle batteries and which drives the global power sports battery market. Also, technological advancements in the lithium ion battery technology space have played a crucial aspect in boosting the need for lithium-ion power-sports batteries over the past decade. The cost -effective nature of power-sports batteries is a key factor that is expected to influence consumers from shifting from conventional batteries to power-sports batteries with improved performance. Several government initiatives across the world, particularly in the China and U.S. have played a pivotal role in boosting the adoption of power-sports batteries in recent years. Further, the key players are focusing on strategies such as product launch, innovation and merger & acquisition to sustain themselves amidst fierce competition. The growth of the market is attributed owing to the increase in demand for electric vehicles, including e-bikes, coupled with the demand for vehicle technology to reduce vehicle emissions. As per the Edison Electric Institute (EEI), the global electric vehicle (EV) sales were around 312,000 units in Q1 2018, which is an increase of 58% as compared to Q1 2017 i.e. almost 197,000 units. Also, as per the Smart Cities World in May 2018, in the United Kingdom, around 40,000 new electric vehicles were registered in 2017, representing 1.5% of all sales. Also, nearly around 140,000 registered electric vehicles were registered in total, representing a share of 0.3%. Thus, the utility of power sports batteries would increase. However, stringent regulations on manufacturing, storage, and transportation of batteries, owing to chemically sensitive nature of batteries is hampering the growth of the market during the forecast period of 2020-2027.
The regional analysis of global Power-sports Batteries market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. Asia-Pacific is the leading/significant region due to the presence of major two-wheeler manufacturers and robust demand for motorcycles in China, India, and Indonesia. Whereas Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027.
Major market player included in this report are:
Skyrich Powersport Batteries
Power Sonic
GS Yuasa Corporation
Fullriver Battery
Interstate Batteries
Unibat
EnerSys
Clarios
East Penn Manufacturing Company
Scorpion Battery, Inc
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Product:
Conventional Flooded batteries
Absorbed Glass Mat
By Application:
Snowmobile
ATV
Scooter
Jet Ski
Marine Boat
UTV
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027
Target Audience of the Global Power-sports Batteries Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors
Skyrich Powersport Batteries
Power Sonic
GS Yuasa Corporation
Fullriver Battery
Interstate Batteries
Unibat
EnerSys
Clarios
East Penn Manufacturing Company
Scorpion Battery, Inc
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