Recreational Vehicle Battery Market by Battery Type and Geography - Forecast and Analysis 2021-2025

  • Published: Nov 2021
  • Pages: 120
  • SKU: IRTNTR45342
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The recreational vehicle (RV) battery market share is expected to increase by USD 203.02 million from 2020 to 2025, and the market’s growth momentum will accelerate at a CAGR of 16.24%.

This recreational vehicle battery market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers recreational vehicle battery market segmentation by battery type (FLA batteries and VRLA batteries) and geography (North America, Europe, APAC, South America, and MEA). The recreational vehicle battery market report also offers information on several market vendors, including Brookfield Business Partners L.P., C and D Technologies Inc., Crown Battery Manufacturing Co., East Penn Manufacturing Co. Inc., EnerSys, Exide Technologies, Leoch International Technology Ltd., Lifeline Batteries Inc., Shield Batteries Ltd., and U.S. Battery Manufacturing Co. among others.

What will the Recreational Vehicle Battery Market Size be During the Forecast Period?

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Recreational Vehicle Battery Market: Key Drivers and Trends

Based on our research output, there has been a negative impact on the market growth during and post COVID-19 era. The growth in global tourism is notably driving the RV battery market growth, although factors such as the use of fuel cells to replace batteries in recreational vehicles may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the recreational vehicle battery industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Recreational Vehicle Battery Market Driver

One of the key factors driving growth in the recreational vehicle battery market is the growth in global tourism. The tourism industry is booming and is expected to grow further during the forecast period. Today, traveling is gaining huge popularity among the younger generation. Not only are they spending more on traveling itself but also on new modes of travel such as cars and bikes. The tourism industry in many countries such as the US, the UK, India, Australia, Germany, and New Zealand is experiencing huge growth as the number of international tourists grows. People who come to holiday in these countries prefer recreational vehicles as a mode of transportation. Over the past few decades, there has been an increase in disposable incomes globally, owing to the increasing economic prosperity. The increase in car ownership has increased the number of people opting for self-drive car tours. This increase in tourism is leading to the growth of the recreational vehicle battery market.

Key Recreational Vehicle Battery Market Challenge

The use of fuel cells to replace batteries in recreational vehicles will be a major challenge for the recreational vehicle battery market during the forecast period. Fuel cells are utilized in small devices that can be powered by a few watts of electricity and also in large power plants that produce megawatts of electrical energy. Conventional batteries such as LABs require a long recharging period, hold less energy with each charge, and have to be replaced frequently. To overcome such difficulties, fuel cell systems are used. Recreational vehicles primarily use deep-cycle batteries. However, fuel cell technology is gaining momentum in the market and is also becoming popular in recreational vehicle applications. The concept behind adding fuel cells in recreational vehicles is they charge the battery while the vehicle is in operation. Fuel cells have higher energy density than other battery technologies and they are also considered a clean form of energy because they use hydrogen to produce energy. In the long run, fuel-cell technology is expected to replace battery technology in recreational vehicles.

This recreational vehicle battery market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Who are the Major Recreational Vehicle Battery Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • Brookfield Business Partners L.P.
  • C and D Technologies Inc.
  • Crown Battery Manufacturing Co.
  • East Penn Manufacturing Co. Inc.
  • EnerSys
  • Exide Technologies
  • Leoch International Technology Ltd.
  • Lifeline Batteries Inc.
  • Shield Batteries Ltd.
  • U.S. Battery Manufacturing Co.

 

This statistical study of the recreational vehicle battery market encompasses successful business strategies deployed by the key vendors. The RV battery market is fragmented and the vendors are deploying various organic and inorganic growth strategies to compete in the market.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The recreational vehicle battery market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

Which are the Key Regions for Recreational Vehicle Battery Market?

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63% of the market’s growth will originate from North America during the forecast period. The US and Canada are the key markets for recreational vehicle batteries in North America. However, the market growth rate in North America will be slower than the growth of the market in other regions.

The increase in the adoption of recreational vehicles among the younger generation, the technological improvements with high-tech features such as cruise control, and a resurgent economy will facilitate the recreational vehicle battery market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

What are the Revenue-generating Battery Type Segments in the Recreational Vehicle Battery Market?

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The recreational vehicle battery market share growth by the FLA batteries segment will be significant during the forecast period. FLA batteries are predominantly used in recreational vehicles because of their advantages. In 2021, the advent of vaccines, declining pandemic cases, and ease of lockdown restrictions propelled the end-user industries such as travel and tourism to recommence the use of RVs. Thus, the increase in demand for RVs will propel growth in the segment and, in turn, in the market in focus during the forecast period.

This report provides an accurate prediction of the contribution of all the segments to the growth of the RV battery market size and actionable market insights on post COVID-19 impact on each segment.

 

Recreational Vehicle Battery Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 16.24%

Market growth 2021-2025

$ 203.02 million

Market structure

Fragmented

YoY growth (%)

11.59

Regional analysis

North America, Europe, APAC, South America, and MEA

Performing market contribution

North America at 63%

Key consumer countries

US, Germany, China, UK, and Canada

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

Brookfield Business Partners L.P., C and D Technologies Inc., Crown Battery Manufacturing Co., East Penn Manufacturing Co. Inc., EnerSys, Exide Technologies, Leoch International Technology Ltd., Lifeline Batteries Inc., Shield Batteries Ltd., and U.S. Battery Manufacturing Co.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period

Customization purview

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What are the Key Data Covered in this Recreational Vehicle Battery Market Report?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive recreational vehicle battery market growth during the next five years
  • Precise estimation of the recreational vehicle battery market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the RV battery industry across North America, Europe, APAC, South America, and MEA
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of RV battery market vendors

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Executive Summary

Market Landscape

  • Market ecosystem
  • Value chain analysis

Market Sizing

  • Market definition
  • Market segment analysis
  • Market size 2020
  • Market outlook: Forecast for 2020 - 2025

Five Forces Analysis

  • Bargaining power of buyers
  • Bargaining power of suppliers
  • Threat of new entrants
  • Threat of substitutes
  • Threat of rivalry
  • Market condition

Market Segmentation by Battery type

  • Market segments
  • Comparison by Battery type
  • FLA batteries - Market size and forecast 2020-2025
  • VRLA batteries - Market size and forecast 2020-2025
  • Market opportunity by Battery type

Customer landscape

Geographic Landscape

  • Geographic segmentation
  • Geographic comparison
  • North America - Market size and forecast 2020-2025
  • Europe - Market size and forecast 2020-2025
  • APAC - Market size and forecast 2020-2025
  • South America - Market size and forecast 2020-2025
  • MEA - Market size and forecast 2020-2025
  • Key leading countries
  • Market opportunity by geography
  • Market drivers
  • Market challenges
  • Market trends

Vendor Landscape

  • Overview
  • Landscape disruption

Vendor Analysis

  • Vendors covered
  • Market positioning of vendors
  • Brookfield Business Partners L.P.
  • C and D Technologies Inc.
  • Crown Battery Manufacturing Co.
  • East Penn Manufacturing Co. Inc.
  • EnerSys
  • Exide Technologies
  • Leoch International Technology Ltd.
  • Lifeline Batteries Inc.
  • Shield Batteries Ltd.
  • U.S. Battery Manufacturing Co.

Appendix

  • Scope of the report
  • Currency conversion rates for US$
  • Research methodology
  • List of abbreviations

Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

TechnavioINFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases
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TechnavioDATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts
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TechnavioREPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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The recreational vehicle battery market growth will increase by $203.02 million during 2020-2025.
The recreational vehicle battery market is expected to grow at a CAGR of 16.24% during 2020-2025.
Technavio has segmented the recreational vehicle battery market by other1 (FLA batteries and VRLA batteries) and geographic (North America, Europe, APAC, South America, and MEA).
Brookfield Business Partners L.P., C and D Technologies Inc., Crown Battery Manufacturing Co., East Penn Manufacturing Co. Inc., EnerSys, Exide Technologies, Leoch International Technology Ltd., Lifeline Batteries Inc., Shield Batteries Ltd., U.S. Battery Manufacturing Co. are a few of the key vendors in the recreational vehicle battery market.
North America will register the highest growth rate of 62.91% among the other regions. Therefore, the recreational vehicle battery market in North America is expected to garner significant business opportunities for the vendors during the forecast period.
The key factors driving the recreational vehicle battery market growth are:
  • Growth in global tourism
The recreational vehicle battery market vendors should focus on grabbing business opportunities from the fla batteries segment as it accounted for the largest market share in the base year.
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