Motorcycle Lead Acid Battery Market, By Type (Standard, Cruisers, Sports, Mopeds, Electric), Sales Channel (OEMs, Aftermarket), Product Type (Valve regulated lead acid battery (VRLA) Battery, Flooded Lead-Acid (FLA), Absorbed Glass Mat (AGM), Vented Battery, Other Battery) and region (North America, Europe, Asia-Pacific, Middle East and Africa and South America).
The global Motorcycle Lead Acid Battery market size was estimated at USD 5.1 billion in 2023 and is projected to reach USD 7.2 billion in 2030 at a CAGR of 5.2% during the forecast period 2023-2030.
Batteries hold immense importance in the functioning of a vehicle, specifically in the areas of ignition, starting, and lighting. Furthermore, the global motorcycle lead acid battery market has observed a noteworthy surge in popularity due to the shift towards battery-powered vehicles, such as motorcycles. Notably, two-wheelers such as motorcycles, scooters, and other similar modes of transportation have made a significant contribution towards the overall revenue generated by the global market. The market's growth is being directly influenced by the increasing production and sales of motorcycles and bikes, as well as the surging demand for electric bikes.
The utilization of motorcycles in developing nations is far-reaching and presents a multitude of challenges. Among these difficulties are inadequate road infrastructure in rural regions, traffic congestion, and exorbitant gasoline costs. Consequently, addressing these issues has become imperative and has given rise to an upswing in demand for lead acid batteries. These batteries boast efficiencies of approximately 80-85%, which is a notable figure as it expedites the charging process. This attribute will undoubtedly serve as a crucial driving force for the market's expansion during the projected period.
The existing outbreak of the COVID-19 pandemic has had a profound impact on the expansion of the lead acid battery market. The pandemic has exerted a substantial influence on the global market as manufacturers have been compelled to shutter their operations due to the pandemic, resulting in supply and procurement disruptions within the market. The automotive equipment supply chain products have been a source of difficulty for many industries. It was expected that the production of electronic equipment and automotive would pick up steam beginning in 2022. This is furthermore anticipated to exert a positive impact on the manufacturing of electronics equipment and automotive, including the hardware components of automotive lead acid batteries.
The Absorbed Glass Mat (AGM) battery, a type of valve-regulated lead acid battery, has witnessed an upsurge in demand, subsequently increasing the global motorcycle lead acid battery market with a healthy revenue share. The AGM battery is specifically designed to recombine oxygen and hydrogen within the sealed battery, thereby eliminating excess released gas from a built-in valve. Two-wheelers are the primary beneficiaries of this battery type, owing to their numerous benefits over other battery types. These benefits include, but are not limited to, low maintenance, shorter recharge time, only 1-3% self-discharge per month, highest power density, best performance in low temperature, and 80-90% round trip efficiency. The aforementioned factors have culminated in an increased demand for AGM batteries, thereby propelling the market growth rate.
The growth of the market can be attributed to several factors, which are expected to create lucrative opportunities in the upcoming years. One of the primary factors responsible for this growth is the rising purchasing power of consumers. Additionally, the increased demand for attractive and stylish bikes is also a major factor that is expected to boost the market's growth. In an effort to meet consumer demands, manufacturers have begun to focus on producing conventional motorcycles with sportier looks, better fuel efficiency, and larger displacement engines, thereby creating immense opportunities for market growth during the forecast period. Furthermore, the rising demand for motorcycle lead acid batteries in light, electric, hybrid, and heavy motor vehicles is also a major factor that is enhancing the market growth. Governments have begun to grant incentives for the manufacture of low-cost electric cars that do not affect the environment, thereby further increasing the sales of motorcycle lead acid batteries. As a result, the motorcycle lead acid battery manufacturers are expected to witness many growth opportunities during the forecast period.
Asia pacific to Dominate the Market