Power Sports Batteries Market
Power Sports Batteries Market Size, Share & Trends Analysis Report, By Battery Type (Conventional Batteries, Absorbent Glass Mat (AGM) batteries, and Lithium Batteries), By Voltage (6V, 12V, 24V, 36V, and 48V), By Distribution Channels (OEM and Aftermarket), Forecast Period (2022-2028) Update Available - Forecast 2024-2030
Power sports batteries market is anticipated to grow at a CAGR of 5.8% during the forecast period. Power batteries comprise absorbent glass mat (AGM) technologists combined with a new innovative design that offers more power, high reliability, and long life. The growth is driven owing to an increase in all-terrain vehicles' popularity and a rise in the use of power sports to boost adventure tourism. Moreover, rising two-wheeler production, along with the wider application of batteries among all vehicles type including ATVs, motorcycles, and snowmobiles, is another major factor that boosts the market growth. New product development and launches by major key players will further aid in the growth of the global power sports batteries market. For instance, in June 2022, Colorado delivers the next evolution in electric-vehicle technology and started the production of solid-state battery cells for automakers to test. The silicon, solid-state battery cells, will be delivered to partners Ford Motor Co. and BMW by the end of the year, and the automakers, will then start qualification testing on the cells.
Segmental Outlook
The global power sports batteries market is segmented based on battery type, voltage, and distribution channel. Based on battery type, the market is bifurcated into conventional batteries, absorbent glass mat (AGM) batteries, and lithium batteries. Based on voltage range, the market is segmented into 6V, 12V, 24V, 36V, and 48V. Based on distribution channels, the market is segmented into OEM and aftermarket. Based on battery type, the lithium battery segment is expected to grow at the fastest rate during the forecast period. There is a different range of lithium batteries, such as lithium iron phosphate (LifePo4) batteries, such batteries are the safest, four times faster at charging, four times longer than other batteries, and combined with active intelligent monitoring they become four times lighter in weight. Hence, the major benefits provided by lithium batteries over other battery types, are expected to fuel the growth of lithium batteries in the coming years. Moreover, technological advancements along with the limited life cycle and assessable capacity of the battery have shifted the focus of the manufacturers from lead-acid batteries to lithium batteries. For instance, in March 2022, Enovix announced its latest development, BrakeFlow. BrakeFlow ushers in a new level of safety in Li-ion battery design. Adding BrakeFlow can significantly limit overheating during an internal shorting event, which is the primary cause of thermal runaway. The new technology will become a part of Enovix’s automatic tooling and production set at its Fremont factory, Fab-1, while it plans to make the technology available in its battery cells in 2023.
Regional Outlook
The global power sports batteries market is further segmented based on geography including North America (The US and Canada), Europe (UK, Italy, Germany, France, and Others), Asia-Pacific (India, China, Japan, South Korea, and Others), and the Rest of the World (the Middle East &Africa and Latin America). Asia-Pacific region is likely to be the fastest growing region during the forecast period. The growth of the region is mainly attributed owing to the presence of major key players such as Yukinova, Xaton Battery, and Genuine Power, along with rising middle-class income and a huge youth population will result in strong demand for passenger vehicles, which consequently lead to higher demand of power batteries market in the Asia-Pacific region. For instance, according to the India Brand Equity Foundation (IBEF), in January 2022, the total production of passenger vehicles, three-wheelers, two-wheelers, and quadricycles reached 1,860,809 units.
Global Power Sports Batteries Market Growth, by Region 2021-2028
North American Region to Witness Optimal Growth in the Market
North American region is dominating the global power sports batteries market. The major cause responsible for the growth of the market in the region is an increase in two-vehicle production along with the rise in the demand for fleet motorcycles and scooters. Moreover, various government schemes such as tax credits have also boosted the sales of electric vehicles in the North American region, which is expected to fuel the growth of the market in the coming year. For instance, according to the Center for Strategic & International Studies report, the Build Back Better Act (BBBA) has expanded the tax credit schemes. In 2022, the proposed tax credit for individual buyers provides a $4,000 base credit plus a $3,500 credit based on battery capacity, on the purchase of electric vehicles.
Market Players Outlook
The major companies serving the global power sports batteries market include Clarios, Exide Technologies, and Crown Battery, among others. The market players are contributing to the market growth by the adoption of various strategies including mergers and acquisitions, collaborations, and new product launches, to stay competitive in the market. For instance, in November 2021, Atlis Motor Vehicles (ATLIS), announced an agreement with Li-Cycle Corp., to recover and recycle lithium-ion batteries in North America. Atlis is focused on developing a fully electric vehicle platform as well as proprietary battery cells and packs from next year. The company wants to build a charging infrastructure that would recharge a 500-mile range battery in less than 15 minutes.
The Report Covers
- Market value data analysis of 2021 and forecast to 2028.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global power sports batteries market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
1. Report Summary
• Current Industry Analysis and Growth Potential Outlook
1.1. Research Methods and Tools
1.2. Market Breakdown
1.2.1. By Segments
1.2.2. By Region
2. Market Overview and Insights
2.1. Scope of the Report
2.2. Analyst Insight and Current Market Trends
2.2.1. Key Findings
2.2.2. Recommendations
2.2.3. Conclusion
3. Competitive Landscape
3.1. Key Company Analysis
3.1.1. Company
3.1.1.1. Overview
3.1.1.2. Financial Analysis
3.1.1.3. SWOT Analysis
3.1.1.4. Recent Developments
3.2. Key Strategy Analysis
4. Market Segmentation
4.1. Global Power Sports Batteries Market by Battery Type
4.1.1. Conventional Batteries
4.1.2. Absorbent Glass Mat (AGM) Batteries
4.1.3. Lithium Batteries
4.2. Global Power Sports Batteries Market by Voltage Range
4.2.1. 6V
4.2.2. 12V
4.2.3. 24V
4.2.4. 36V
4.3. Global Power Sports Batteries Market by Distribution Channel
4.3.1. OEM
4.3.2. Aftermarket
5. Regional Analysis
5.1. North America
5.1.1. United States
5.1.2. Canada
5.2. Europe
5.2.1. UK
5.2.2. Germany
5.2.3. Italy
5.2.4. Spain
5.2.5. France
5.2.6. Rest of Europe
5.3. Asia-Pacific
5.3.1. China
5.3.2. India
5.3.3. Japan
5.3.4. South Korea
5.3.5. Rest of Asia-Pacific
5.4. Rest of the World
6. Company Profiles
6.1. Clarios
6.2. Crown Battery
6.3. Discover Battery
6.4. East Penn Manufacturing Co., Inc.
6.5. EnerSys
6.6. Exide Technologies.
6.7. Fullriver Battery
6.8. Go Power!
6.9. GS Yuasa Corp.
6.10. Harris Battery
6.11. Interstate Batteries
6.12. Lifeline Batteries Inc.
6.13. Midac S.P.A.
6.14. Samauto S.P.A.
6.15. Scorpion Battery Inc.
6.16. Trojan Battery Company LLC
6.17. U.S. Battery Manufacturing Co.
1. GLOBAL POWER SPORTS BATTERIES MARKET RESEARCH AND ANALYSIS BY BATTERY TYPE, 2021-2028 ($ MILLION)
2. GLOBAL CONVENTIONAL POWER SPORTS BATTERIES MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
3. GLOBAL ABSORBENT GLASS MAT (AGM) POWER SPORTS BATTERIES MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
4. GLOBAL LITHIUM POWER SPORTS BATTERIES MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
5. GLOBAL POWER SPORTS BATTERIES MARKET RESEARCH AND ANALYSIS BY VOLTAGE RANGE, 2021-2028 ($ MILLION)
6. GLOBAL 6V POWER SPORTS BATTERIES MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
7. GLOBAL 12V POWER SPORTS BATTERIES MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
8. GLOBAL 24V POWER SPORTS BATTERIES MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
9. GLOBAL 36V POWER SPORTS BATTERIES MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
10. GLOBAL 48V POWER SPORTS BATTERIES MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
11. GLOBAL POWER SPORTS BATTERIES MARKET RESEARCH AND ANALYSIS BY DISTRIBUTION CHANNEL, 2021-2028 ($ MILLION)
12. GLOBAL POWER SPORTS BATTERIES FROM OEM MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
13. GLOBAL POWER SPORTS BATTERIES FROM AFTERMARKET MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
14. NORTH AMERICAN POWER SPORTS BATTERIES MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
15. NORTH AMERICAN POWER SPORTS BATTERIES MARKET RESEARCH AND ANALYSIS BY BATTERY TYPE, 2021-2028 ($ MILLION)
16. NORTH AMERICAN POWER SPORTS BATTERIES MARKET RESEARCH AND ANALYSIS BY VOLTAGE RANGE, 2021-2028 ($ MILLION)
17. NORTH AMERICAN POWER SPORTS BATTERIES MARKET RESEARCH AND ANALYSIS BY DISTRIBUTION CHANNEL, 2021-2028 ($ MILLION)
18. EUROPEAN POWER SPORTS BATTERIES MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
19. EUROPEAN POWER SPORTS BATTERIES MARKET RESEARCH AND ANALYSIS BY BATTERY TYPE, 2021-2028 ($ MILLION)
20. EUROPEAN POWER SPORTS BATTERIES MARKET RESEARCH AND ANALYSIS BY VOLTAGE RANGE, 2021-2028 ($ MILLION)
21. EUROPEAN POWER SPORTS BATTERIES MARKET RESEARCH AND ANALYSIS BY DISTRIBUTION CHANNEL, 2021-2028 ($ MILLION)
22. ASIA-PACIFIC POWER SPORTS BATTERIES MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
23. ASIA-PACIFIC POWER SPORTS BATTERIES MARKET RESEARCH AND ANALYSIS BY BATTERY TYPE, 2021-2028 ($ MILLION)
24. ASIA-PACIFIC POWER SPORTS BATTERIES MARKET RESEARCH AND ANALYSIS BY VOLTAGE RANGE, 2021-2028 ($ MILLION)
25. ASIA-PACIFIC POWER SPORTS BATTERIES MARKET RESEARCH AND ANALYSIS BY DISTRIBUTION CHANNEL, 2021-2028 ($ MILLION)
26. REST OF THE WORLD POWER SPORTS BATTERIES MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
27. REST OF THE WORLD POWER SPORTS BATTERIES MARKET RESEARCH AND ANALYSIS BY BATTERY TYPE , 2021-2028 ($ MILLION)
28. REST OF THE WORLD POWER SPORTS BATTERIES MARKET RESEARCH AND ANALYSIS BY VOLTAGE RANGE , 2021-2028 ($ MILLION)
29. REST OF THE WORLD POWER SPORTS BATTERIES MARKET RESEARCH AND ANALYSIS BY DISTRIBUTION CHANNEL, 2021-2028 ($ MILLION)
1. GLOBAL POWER SPORTS BATTERIES MARKET SHARE BY BATTERY TYPE, 2021-2028(%)
2. GLOBAL CONVENTIONAL POWER SPORTS BATTERIES MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
3. GLOBAL ABSORBENT GLASS MAT (AGM) POWER SPORTS BATTERIES MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
4. GLOBAL LITHIUM POWER SPORTS BATTERIES MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
5. GLOBAL POWER SPORTS BATTERIES MARKET SHARE BY VOLTAGE RANGE, 2021-2028(%)
6. GLOBAL 6V POWER SPORTS BATTERIES MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
7. GLOBAL 12V POWER SPORTS BATTERIES MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
8. GLOBAL 24V POWER SPORTS BATTERIES MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
9. GLOBAL 36V POWER SPORTS BATTERIES MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
10. GLOBAL 48V POWER SPORTS BATTERIES MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
11. GLOBAL POWER SPORTS BATTERIES MARKET SHARE BY DISTRIBUTION CHANNEL, 2021-2028(%)
12. GLOBAL POWER SPORTS BATTERIES FROM OEM MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
13. GLOBAL POWER SPORTS BATTERIES FROM AFTERMARKET MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
14. GLOBAL POWER SPORTS BATTERIES MARKET RESEARCH AND ANALYSIS BY GEOGRAPHY, 2021-2028 ($ MILLION)
15. US POWER SPORTS BATTERIES MARKET SIZE, 2021-2028 ($ MILLION)
16. CANADA POWER SPORTS BATTERIES MARKET SIZE, 2021-2028 ($ MILLION)
17. UK POWER SPORTS BATTERIES MARKET SIZE, 2021-2028 ($ MILLION)
18. GERMANY POWER SPORTS BATTERIES MARKET SIZE, 2021-2028 ($ MILLION)
19. SPAIN POWER SPORTS BATTERIES MARKET SIZE, 2021-2028 ($ MILLION)
20. FRANCE POWER SPORTS BATTERIES MARKET SIZE, 2021-2028 ($ MILLION)
21. ITALY POWER SPORTS BATTERIES MARKET SIZE, 2021-2028 ($ MILLION)
22. REST OF EUROPE POWER SPORTS BATTERIES MARKET SIZE, 2021-2028 ($ MILLION)
23. INDIA POWER SPORTS BATTERIES MARKET SIZE, 2021-2028 ($ MILLION)
24. CHINA POWER SPORTS BATTERIES MARKET SIZE, 2021-2028 ($ MILLION)
25. JAPAN POWER SPORTS BATTERIES MARKET SIZE, 2021-2028 ($ MILLION)
26. REST OF ASIA-PACIFIC POWER SPORTS BATTERIES MARKET SIZE, 2021-2028 ($ MILLION)
27. REST OF WORLD POWER SPORTS BATTERIES MARKET SIZE, 2021-2028 ($ MILLION)
