Global Two-Wheeler Battery Market to Grow with a CAGR of 7.3% through 2028
Rising demand for affordable and eco-friendly urban
mobility solutions is driving the Global Two-Wheeler Battery Market in the
forecast period 2024-2028.
According to TechSci Research report, “Two-Wheeler
Battery Market – Global Industry Size, Share, Trends, Competition Forecast
& Opportunities, 2028”, the Global Two-Wheeler Battery Market stood at USD
6.4 billion in 2022 and is anticipated to grow with a CAGR of 7.3% in the
forecast period, 2024-2028.
The global Two-Wheeler Battery Market plays a pivotal
role in supporting the ever-expanding market for motorcycles, scooters, and
electric bicycles (e-bikes) worldwide. These batteries serve as the critical
power source for starting engines and operating electrical components in
two-wheelers, making them an indispensable component of these vehicles.
One of the primary drivers of this market is the
relentless urbanization observed globally. As cities grow, so does the demand
for cost-effective and efficient modes of personal transportation to navigate
congested streets. Two-wheelers, including motorcycles and scooters, provide a
practical solution for commuters, reducing travel times and fuel expenses, and
easing the challenges of urban mobility. Furthermore, environmental concerns
and the need for sustainable transportation solutions have given rise to the
adoption of electric two-wheelers. Electric motorcycles, e-scooters, and
e-bikes are gaining popularity for their eco-friendly attributes, low
operational costs, and reduced emissions. The Two-Wheeler Battery Market has
been instrumental in supporting this transition, with manufacturers continually
innovating to produce batteries that provide longer ranges, faster charging
times, and improved durability.
Technological advancements in battery chemistry and
manufacturing processes are another driving force behind the market's growth.
Battery manufacturers are constantly pushing the boundaries to improve energy
density, safety, and overall battery performance. Lithium-ion batteries have
emerged as a dominant choice for electric two-wheelers, offering higher energy
storage capacity and longer lifespans. Government incentives and regulations
are playing a significant role in promoting the adoption of electric
two-wheelers. Many governments offer subsidies, tax incentives, and exemptions
from emissions-related fees to encourage consumers to opt for electric mobility
solutions. These incentives reduce the total cost of ownership for electric
two-wheelers and stimulate market demand.
As micro-mobility services gain traction in urban
areas, shared electric scooters and e-bikes have become a common sight in many
cities. These services rely on efficient batteries and charging infrastructure,
further contributing to the growth of the Two-Wheeler Battery Market. The
global Two-Wheeler Battery Market is essential for powering the ever-expanding
market for motorcycles, scooters, and electric bicycles. It plays a crucial
role in facilitating urban mobility, addressing environmental concerns, and
supporting the transition to electric two-wheelers. The market's future is
closely tied to ongoing technological advancements, government policies, and
the growing demand for sustainable transportation solutions in urban centers
worldwide.
Browse over XX market data Figures spread
through XX Pages and an in-depth TOC on “Two-Wheeler Battery Market.”
Asia-Pacific emerges as the epicenter of the Global
Two-Wheeler Battery Market. Countries like India and China, with their vast
populations and urbanization trends, drive significant demand for motorcycles
and scooters. The affordability and convenience of two-wheelers in congested
urban areas make them a primary mode of transportation. Additionally, the shift
toward electric two-wheelers in response to environmental concerns is notable,
especially in China, which leads the world in electric scooter adoption. This
region also houses numerous battery manufacturers, contributing to the
availability of cost-effective batteries.
Europe is a growing market for two-wheeler batteries,
with a notable focus on electric mobility. Electric bicycles (e-bikes) have
gained popularity, particularly in Western European countries like Germany and
the Netherlands, where cycling is a common mode of transportation. Stringent
emissions regulations, coupled with urbanization and environmental
consciousness, are driving the adoption of electric two-wheelers. European
governments offer incentives and subsidies to encourage the transition to
electric mobility, further boosting the Two-Wheeler Battery Market in the
region.
In North America, the market for electric two-wheelers
is gradually expanding, primarily in urban areas. Electric scooters and e-bikes
are increasingly visible on city streets, offering eco-friendly and convenient
commuting options. While motorcycles have a niche market, electric two-wheelers
align with the region's environmental concerns and sustainability goals.
Improved charging infrastructure and government support contribute to the
market's growth, with cities like San Francisco and Los Angeles hosting shared
electric scooter services.
The Middle East and Africa region exhibits a diverse
landscape for two-wheelers, influenced by factors such as urbanization,
economic development, and infrastructure. Motorcycles and scooters remain
popular in some Middle Eastern countries for daily commuting, although electric
two-wheelers are gradually gaining attention. The market is expected to grow
further as urbanization continues and governments promote sustainable
transportation options. Latin America
showcases a mix of traditional gasoline-powered two-wheelers and emerging electric
alternatives. Countries like Brazil and Mexico have robust markets for
motorcycles and scooters, driven by affordability and practicality. The
adoption of electric two-wheelers is in its early stages but is expected to
gain momentum, spurred by government incentives and environmental awareness. These regional insights underscore the diverse
landscape of the Global Two-Wheeler Battery Market, influenced by factors like
urbanization, regulatory environments, consumer preferences, and government
policies. As the world continues to prioritize sustainable and eco-friendly
transportation, the market is poised for further growth and evolution across
these distinct regions.
Major companies operating in Global
Two-Wheeler Battery Market are:
- Amara Raja Batteries Limited
- Panasonic Corporation
- Exide Technologies
- VARTA
- Clarios
- GS Yuasa Corporation
- Hitachi Group Ltd
- Robert Bosch GmbH
- China Aviation Lithium Battery Co. Ltd
- Contemporary Amperex Technology Co.
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“The Global
Two-Wheeler Battery Market, we are witnessing a remarkable transformation
driven by the confluence of urbanization, environmental concerns, and
technological advancements. Two-wheelers, including electric bicycles and
scooters, have become the go-to choose for efficient urban mobility,
particularly in densely populated regions like Asia-Pacific. As sustainability
gains importance, electric two-wheelers are rapidly replacing traditional gasoline-powered
counterparts, bolstering the demand for advanced batteries. The ongoing race in
battery technology, with a focus on higher energy density and faster charging,
is reshaping the market landscape. Governments' push for electric mobility and
the rise of micro-mobility services further underlines the market's promising
trajectory, making it a pivotal player in the future of urban transportation.,”
said Mr. Karan Chechi, Research Director with TechSci Research, a
research-based management consulting firm.
“Global Two-Wheeler
Battery Market Segmented By Vehicle Type (Motorcycles, Mopeds, Scooters,
Electric Bikes), By Battery Type (Lead Acid, Lithium-Ion, and Other), By Drive
Type (IC Engines and Electric Vehicles), By Region and By Competition Forecast & Opportunities, 2018-2028F”, has evaluated the future growth potential of Global
Two-Wheeler Battery Market and provides statistics & information on market
size, structure, and future market growth. The report intends to provide
cutting-edge market intelligence and help decision makers take sound investment
decisions. Besides, the report also identifies and analyzes the emerging trends
along with essential drivers, challenges, and opportunities in Global Two-Wheeler
Battery Market.
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