The motorcycle batteries market is to propel and is expected to grow at a CAGR of 6.2% for the forecast of the year 2021 to 2028. Motorcycle batteries is electrical device used to store energy generated by the chemical reverse reaction between lead and acid in a battery. In addition, a mixture of sulfuric acid and distilled water is known as battery electrolyte or acid is added to motorcycle batteries and used as a conductor between lead batteries. The motorcycle batteries market is driven by the factors such as the increased number of vehicles and increased purchase power and disposable lifestyle.
Lithium-ion batteries are becoming more popular due to their excellent resistance to self-discharge. Because the self-discharge of lithium-ion batteries is ten times lower than that of normal lead-acid batteries, they can hold a charge for several months. The development of sulfates, which is caused by the immersing of lead plates in sulphuric acid, causes lead-acid batteries to lose their effectiveness over time. As a result of its ability to survive dramatic changes in the environment, the demand for lithium motorbike batteries will rise. Since the outbreak of the COVID-19, it has widely spread all over the world and has impacted many countries' economies, and caused huge losses in businesses. The motorcycle batteries market is experiencing a negative growth due to supply chain disruptions, but also due to lowered demand.
The motorcycle batteries market is segmented on the basis of battery type, vehicle type and build. The battery type segment is further bifurcated into lead-acid batteries, lithium-ion batteries. The lead-acid sector is holding the largest share and shows potential growth in future forecasts. The vehicle segment is divided into an electric bike, scooter, sports bike, and motorcycle. Based on the build segmentation it is bifurcated into SLI battery, Lithium battery, AGM battery. The lithium battery is having the largest share and potential growth for further forecasted years.
The major players for the motorcycle batteries market are BAE Batteries GmbH, C&D Technologies EnerSys, Banner Batteries, KOYO, Leach Battery, southern batteries, Johnson and Beltran battery.
Regionally, the market is segmented as Asia-Pacific, Europe, North America, the Middle East, and Africa, and Latin America. North America attained the highest share due to the presence of key players more usage of vehicles.