To identify growth opportunities in the two wheeler battery market, the market has been segmented into regions that are growing faster than the overall market. These regions have been pitted against regions that have a slower growth rate than the global market in 2018-2023. EMEA will grow faster than the overall market. The growth of APAC and the Americas will be slower than the global market.
Below are some of the key findings from the two wheeler battery market research report
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Global two-wheeler battery industry overview
The growing use of lithium-ion batteries in two-wheelers is one of the major factors driving the two-wheeler battery market growth. Internal chemical reactions in lead-acid batteries result in the decrease of stored charge even when there is no connection between electrodes. In contrast, lithium-ion batteries have better resistance to self-discharge and can be charged easily and quickly. These batteries also overcome other challenges of lead-acid batteries like sulfation, overcharging, regular electrolyte refilling, deep discharging, and loss of active materials in the battery. Subsequently, lithium-ion batteries are more efficient and have a longer life than lead-acid batteries. Because of these advantages, the growing adoption of lithium-ion batteries in two-wheelers despite the excessive cost is driving the two wheeler battery market growth.
The innovations in electric charging systems is one of the key two-wheeler battery market trends. Charging points are gradually moving from slow charge to fast charge standards. Ffast charge has mainly two systems – combined charging standard (CCS) in the Americas and Europe, and CHAdeMo in Asia. These systems cater to specific manufacturing specifications and EV models, thereby creating a compatibility issue and creating a roadblock for adoption of electric two-wheelers. However, the new open charge point protocol (OCPP) offers an alternative and makes public EV charging stations compatible with all types of EVs. These developments will reduce the challenges in adoption of electric two-wheelers and in turn boost two-wheeler battery market growth. The two wheeler battery market forecast report predicts that fueled by these factors, the market will grow at a CAGR of almost 7% during the forecast period.
Top two-wheeler battery companies covered in this market research report
The two wheeler battery market is moderately fragmented. The market is in the growth stage and is open to opportunities for several wheeler battery market vendors. By offering a complete analysis of the market’s competitive landscape and with information on the products offered by the companies, this two-wheeler battery industry analysis report will aid clients to identify new growth opportunities and design new growth strategies.
The report offers a complete analysis of various companies including:
- Amara Raja Batteries
- Exide Industries
- Exide Technologies
- GS Yuasa International
- OptimumNano Energy
- SAMSUNG SDI
Two-wheeler battery market segmentation based on geographic regions
- Americas
- APAC
- EMEA
Global two wheeler battery market analysis reveals that the APAC region will continue to dominate the market. However, the EMEA region will account for the highest two wheeler battery market growth throughout the forecast period.
Two-wheeler battery market segmentation based on battery type
- Lead-acid battery
- Lithium-ion battery
- Nickel metal hydride (NiMH) battery
Lead-acid battery will continue to dominate the two wheeler battery market during the forecast period. The Lithium-ion battery segment will account for the highest two wheeler battery market growth. The report provides an accurate prediction of the contribution of the various battery types to the growth of the two-wheeler battery market size.
Key highlights of the global two-wheeler battery market for the forecast years 2019-2023:
- CAGR of the market during the forecast period 2019-2023
- Detailed information on factors that will accelerate the growth of the two-wheeler battery market during the next five years
- Precise estimation of the global two wheeler battery market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the two-wheeler battery industry across the Americas, APAC, and EMEA
- A thorough analysis of the market’s competitive landscape and detailed information on several vendors
- Comprehensive details on the factors that will challenge the growth of two-wheeler battery companies
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