Global Two-wheeler (2W) Battery Market 2019-2023
About this market
Integration of two-wheelers with smartphones to drive market growth. The integration of two-wheelers with smartphones is a growing trend in the market as it is attracting interest from potential buyers across the globe. The demand for two-wheelers with smartphone connectivity and telematics is increasing steadily and improving the overall riding experience. With an increase in riders' interaction with personal mobile devices, the demand for better user-interfaces in two-wheelers is also increasing. Technavio’s analysts have predicted that the two-wheeler (2W) battery market will register a CAGR of about 7% by 2023.
Growing need for environmentally friendly vehicles
E-bikes and e-scooters are becoming more popular because of the increasing concerns over environmental pollution and the shift toward a more sustainable ecosystem in the automotive industry. Various countries have framed policies to reduce air pollution and vehicle emissions. More expeditious actions are required to meet the goals set by these policies. ICE vehicles powered by diesel or petrol emit several pollutants such as carbon monoxide, nitrogen oxide, and sulfur oxide, which pollute the air. Therefore, the two-wheeler sector is shifting its focus toward electrified two-wheelers to reduce emissions and the carbon footprint.
Challenges associated with two-wheeler battery technologies
Lead-acid and lithium-ion battery technologies are the most used battery types in two-wheelers. However, these battery technologies face several challenges. However, lead-acid batteries also contain high amounts of toxic lead oxide, which is hazardous to the environment.
For the detailed list of factors that will drive and challenge the growth of the two-wheeler battery market during the 2019-2023, view our report.
The market appears to be fragmented and with the presence of several companies including Exide Industries and Exide Technologies the competitive environment is quite intense. Factors such as the growing need for environmentally friendly vehicles and the integration of two-wheelers with smartphones, will provide considerable growth opportunities to two-wheeler battery manufactures. Amara Raja Batteries, Exide Industries, Exide Technologies, GS Yuasa International, OptimumNano Energy, and SAMSUNG SDI are some of the major companies covered in this report.