Consumers are favoring two wheelers to avoid traffic congestion and minimize commute time. FMI’s latest study on the global two wheeler lead acid batteries market projects the revenue pool of market to expand 1.8X through the forecast period (2019-2019).
“Valve regulated lead acid (VRLA) battery is gaining widespread adoption as compared to traditional flooded batteries. Reliability and operational safety are highly preferred attributes amongst manufacturers and consumers alike. Original Equipment Manufacturers (OEMs) continue to be leading end-use segment,” says the FMI analyst.
Key Takeaways of Two Wheeler Lead Acid Batteries Market Study
- Demand for batteries above 20 AH capacity to remain heightened through 2029.
- Adoption of two wheeler lead acid batteries is prominent in scooters.
- Manufacturers will continue to prefer VRLA batteries during the course of forecast period.
- Sales of two wheeler lead acid batteries to surge through aftermarket channel.
- Emerging Asian economies to remain the centre of remunerative opportunities through the projection period.
Two Wheeler Lead Acid Batteries Market – Key Growth Factors
- Extensive production of two wheelers in developing countries is favoring the market growth.
- Proliferation of market players in emerging economies is providing a thrust to market growth.
- Recreational activities by millennial population are accelerating the production of two wheelers.
- Micro-mobility trend will further escalate the demand for two wheeler lead acid batteries through 2029.
Two Wheeler Lead Acid Batteries Market – Key Restraints
- Inflation of gasoline cost is projected to limit the market growth of I.C engines.
- Gaining significant share in market is challenging for industry players on account of fragmented competitive landscape.
The global two wheeler lead acid batteries market is fragmented in nature. Prominent companies featured in this FMI report include, but are not limited to, Exide Industries Ltd., GS Yuasa Corporation, Leoch International Technology Limited Inc., Banner Batteries, Chaowei Power Holdings Limited, Tianneng Power International Limited, Robert Bosch GmbH, and Camel Group Co. Premier manufacturers are gradually transitioning to electric vehicles from traditional internal combustion engines. Hence, research and development will be a key differentiating factor for market leaders during the forecast period.
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More about the Report
This Future Market Insights study of 293 pages provides all-inclusive insights on the global two wheeler lead acid batteries market. The market analysis is based on capacity (less than 5AH, 5 AH to 10 AH, 10 AH to 20 AH, above 20 AH), technology (I.C. engine, electric), two wheeler (motorcycles, scooters), battery type (VRLA batteries, flooded), sales channel (OEMs, aftermarket) across six regions (North America, Latin America, Europe, South Asia Pacific, East Asia, Middle East & Africa).