A battery is a group of electric cells that can produce a direct current by converting chemical energy into electrical energy. The battery in a two-wheeler serves various purposes. Apart from the general self-starter application, the batteries in two wheelers are also used for operating components, such as headlights, side indicators, tail lights, horns and other electric components. Environment friendly vehicles, such as electric and solar vehicles, also require a battery for their operation. The battery used in electric vehicles is of higher voltage than the battery used in conventional vehicles.
With growing environmental regulations regarding exhaust emission from vehicles, the demand for electric vehicles is rising at a significant pace. Electric power is a cleaner and cheaper source of energy in comparison to conventional fuels. Electric power also helps in reducing CO2 emission. Increasing demand for light weight vehicles will promote the demand for lithium-ion batteries due to their small size and lesser weight. Increasing overall two-wheeler demand is expected to propel the demand for two-wheeler batteries during the forecast period
Growing urbanization in developing countries is expected to be the key driver for the growth of the two wheeler market and will influence the market of two-wheeler batteries positively. Growing population and increasing demand for transportation are the two factors expected to drive the demand for two wheelers and in turn, two-wheeler batters. Two wheelers, being the fastest mode of commute, are a rapidly growing segment, especially in the middle-class category. Increasing traffic congestion and environmental pollution are expected to further propel the demand for two wheelers as well as two-wheeler batteries during the forecast period. Inconvenient public transport in most of the regions is one of the key reasons responsible for the growth of the two-wheeler battery market. However, improper maintenance of a battery can lead to battery failure or shortening of its life. This particular factor is expected to drive the aftermarket sales channel in the two-wheeler battery market.
Increasing competition will lead to new innovations, which is expected to be a key challenge for the manufacturers operating in the two-wheeler battery market. Growing threat of cheap products from China is also expected to be a restraining factor among the global players in the two-wheeler battery market. Increasing focus on the application of lithium ion batteries in two wheelers with high energy demand, such as vehicles equipped with ABS (anti-lock brake system) and MSC (motorcycle stability control), is an ongoing trend in the market.
Two-Wheeler Battery Market Segmentation By Battery Type – Wet Cell Batteries, Dry Cell Batteries, Gel Motorcycle Batteries; By Vehicle Type – Mopeds, Motorcycles, Scooters; By Composition Type – Lead Acid Battery, Lithium Ion Battery, Others; By Voltage Type – 6 Volt, 12 Volt, Others; By Sales Channel Type – Original Equipment Manufacturer (OEM), Aftermarket
Increasing technical innovation as well as growing demand for electric bikes in various regions across the globe is expected to fuel the demand for two-wheeler batteries during the forecast period. Increasing preference for two wheelers in high traffic regions is expected to further drive demand in the two-wheeler battery market over the coming years. Asia pacific is expected to dominate the market of two-wheeler batteries owing to its large population. Stringent norms and regulations regarding emission exhaust in the countries of North America and Europe are expected to propel the demand for electric two wheelers. Cheap and convenient motorcycles are overtaking the passenger cars segment in the countries of Latin America and will fuel the demand for two wheeler batteries.
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