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The powersports batteries market size is estimated to grow by USD 2.31 billion at a CAGR of 5.25% between 2023 and 2028. Market expansion relies on various factors, including major motorcycle OEMs entering the electric motorcycle sector, rising demand for ATVs in recreational and adventurous sports, and advancements in battery technology. These elements collectively drive market growth, reflecting industry innovation and evolving consumer preferences. The entrance of major motorcycle OEMs into the electric motorcycle sector underscores the shift towards sustainable transportation options. Simultaneously, the increasing demand for ATVs signifies the popularity of outdoor recreational activities. Additionally, advancements in battery technology enhance the performance and range of electric vehicles, further stimulating market growth. Thus, the interplay of these factors delineates the landscape for the anticipated expansion of the market catering to electric motorcycles, ATVs, and related technologies, presenting opportunities for stakeholders in the automotive and recreational industries.
It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2018 - 2022.
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This market report extensively covers market segmentation by vehicle type (motorcycles, ATVs and UTVs, mopeds and scooters, and others), channel (aftermarket and OEM), and geography (APAC, North America, Europe, South America, and Middle East and Africa).
The market is witnessing a significant growth driven by the rising demand for powersports battery solutions across various applications such as golf carts, lawnmowers, and watercrafts. With the increasing trend of urbanization, the market faces challenges like the proliferation of counterfeit products. However, the adoption of advanced technologies like lithium-ion battery and rechargeable battery systems enhances performance and reliability. The evolution of lithium-ion battery technology has revolutionized the power batteries market, offering higher voltage, improved charge per unit mass, and reduced self-discharge rates, thus improving vehicle efficiency and reducing vehicle emissions across segments including E-bikes and the electric car industry. Additionally, powersports batteries cater to specialized applications like snowmobiles with tailored solutions to meet diverse consumer needs. Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
One of the key factors driving the market growth is the major motorcycle OEMs venturing into the electric motorcycle sector. The demand for electric two-wheelers has been growing rapidly in recent years. In addition, people are becoming more conscious of the environment and the impact of their actions on it. As a result of this awareness, they are switching to eco-friendly alternatives such as electric two-wheelers.
Moreover, the rising demand for sustainable mobility is expected to lead to the replacement of IC engine-based vehicles with electric vehicles in the long run. Thus, to sustain in such a business environment, several motorcycle manufacturers are working on expanding their motorcycle product portfolios with electric motorcycle models. Hence, such factors are positively impacting the market. Therefore, it is expected to drive the market growth during the forecast period.
A key factor shaping the market growth is the growing popularity of motorsports. There is a growing popularity for motorsports across the world. In addition, this category includes a wide range of vehicles, such as cars, bikes, go-karts, boats, trucks, and snowmobiles. Furthermore, cars are the most popularly used vehicles in motorsports.
Moreover, the National Association for Stock Car Auto Racing (NASCAR), Formula One World Championship, and INDYCAR are some of the popular auto racing series. In addition, sponsorship, advertising, merchandising, and broadcasting are the key reasons for using power sports batteries in motorsports. Furthermore, the inclusion of EVs in the Formula One racing events under the flagship of Formula E is expected to have a positive influence on the market. Hence, such factors drive the market growth during the forecast period.
Hazards of lithium-ion-powered batteries are one of the key challenges hindering the power sports batteries market growth. There is a growing concern among professional sports owners regarding the weight of the boat as it affects the overall performance of the vehicle. Therefore, lithium-ion batteries are mainly used in sports vehicles.
Moreover, lithium-ion batteries are highly volatile and are known to cause fire hazards while taking indefinite amounts of engine loads. In addition, OEMs have been undertaking product recalls of lithium-ion batteries, especially of models used within automotive, as automotive batteries are more frequently used and sold than batteries. Furthermore, the risks of fire hazards with lithium-ion marine batteries on power sports vehicles remain largely unaddressed by OEMs. Hence, such factors hinder the market growth during the forecast period.
The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
CLARIOS LLC: The company offers powersports batteries such as AGM, Flooded, Clarios xEV.
The research report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The motorcycles segment is estimated to witness significant growth during the forecast period. The major factors that are fuelling the growth of the market are the decline in battery prices, lower operating and maintenance costs, subsidies and incentives offered by the government in different countries, and increasing awareness of the need to curb vehicular emissions. In addition, the market is in the early stage of innovation, with a high level of product differentiation between companies. Therefore, there are high investments in R&D and new technologies.
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The motorcycles segment was the largest segment and was valued at USD 3.50 billion in 2018. Moreover, the challenges in the market in focus are expected to compel the market players to innovate continuously and differentiate their products from those of their competitors. As a result, it will contribute to the growth of this segment. In addition, well-established manufacturers of conventional motorcycles are working on electric powertrains to enter the motorcycle segment. For example, major motorcycle manufacturers are expected to enter the electric motorcycle industry. Hence, such factors are fuelling the growth of this segment which in turn drives the market growth during the forecast period.
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APAC is estimated to contribute 50% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. In APAC, the growth of the market is fuelled by the increasing use of recreational vehicles in regions such as Australia, Japan, China, South Korea, and India. In addition, in recent years, the power sports batteries market in APAC saw a boom, with China, Australia, and India having the largest share in the region. Moreover, in China, the power sports batteries market has witnessed an increase due to factors such as the national focus on the development of campgrounds, tourism, and the recreational vehicle industry, but it has experienced significant fluctuations over the past few years. Hence, such factors drive the market growth in APAC during the forecast period.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments
The market is undergoing a transformation propelled by innovations in lithium-ion battery technology, enhancing energy density and charging speed while minimizing self discharge and extending service life. Advanced lithium ion battery offer superior charge per unit volume and power to weight ratio, surpassing traditional lead acid batteries in performance and durability. These advancements cater to a wide range of applications, from E bikes to snowmobiles, enabling off-road activities like hill climbing and motorsport. With a growing focus on sustainability, battery producers are investing in recycling facilities to manage limited life cycles and promote environmentally friendly practices in the EV battery cells market. Additionally, integration with GPS, Bluetooth, and other navigation systems ensures enhanced functionality and safety for a diverse fleet of motorcycles, scooters, and lawn mowers.
Furthermore, in the market, lithium-ion battery technology reigns supreme, offering high performance and reliability for various applications such as snowmobiles and scooters. These batteries boast superior power-to-weight ratio and lightweight construction, making them ideal for Off road activities like off road racing, short course racing, and desert racing. With advancements in battery charging technology, powersports enthusiasts can enjoy extended ride times and improved performance. Two wheeler manufacturers prioritize safety with safety batteries that provide dependable power and longevity, ensuring a thrilling and secure experience for riders engaged in off-road activities and two-wheeler production alike.
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Market Scope |
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Report Coverage |
Details |
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Page number |
161 |
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Base year |
2023 |
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Historic period |
2018 - 2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 5.25% |
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Market Growth 2024-2028 |
USD 2.31 billion |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
4.31 |
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Regional analysis |
APAC, North America, Europe, South America, and the Middle East and Africa |
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Performing market contribution |
APAC at 50% |
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Key countries |
US, China, India, Germany, and UK |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
BS Battery, CLARIOS LLC, Discover Battery, East Penn Manufacturing Co. Inc., EnerSys, Exide Industries Ltd., Fullriver Battery, GS Yuasa International Ltd., Interstate Batteries Inc., Johnson Controls International Plc, PAM Vilicar doo, Power Sonic Corp., Poweroad Xiamen Renewable Energy Technology Co. Ltd., Renegade Battery, Robert Bosch GmbH, Scorpion Battery Inc., Skyrich Powersport Batteries, Super B Lithium Power B.V., The NOCO Co., and Trojan Battery Co. LLC |
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Market dynamics |
Parent market analysis, Market Forecasting, 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 market forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Vehicle Type
7 Market Segmentation by Channel
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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