The global power sports batteries market is anticipated to grow at a CAGR of 5.8% during the forecast period. The major strategic moves such as partnerships, collaborations, and geographical expansion adopted by key market players such as Clarios, Exide Technologies, and Crown Battery, among others, lead to higher growth of the market in the coming year.
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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.
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- Market Coverage
- Market number available for – 2022-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill Inc., and others
Market Segmentation
Global Power Sports Batteries Market by Battery Type
- Conventional Batteries
- Absorbent Glass Mat (AGM) Batteries
- Lithium Batteries
Global Power Sports Batteries Market by Voltage Range
- 6V
- 12V
- 24V
- 36V
Global Power Sports Batteries Market by Distribution Channel
- OEM
- Aftermarket
Regional Analysis
- North America
- United States
- Canada
- Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- Rest of the World
Company Profiles
- Clarios
- Discover Battery
- East Penn Manufacturing Co., Inc.
- EnerSys
- Exide Technologies.
- Fullriver Battery
- Go Power!
- GS Yuasa Corp.
- Harris Battery
- Interstate Batteries
- Lifeline Batteries Inc.
- Midac S.P.A.
- Samauto S.P.A.
- Scorpion Battery Inc.
- Trojan Battery Company LLC
- S. Battery Manufacturing Co.
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.
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