Power sports batteries market is anticipated to grow at a CAGR of 5.8% during the forecast period. Power Sports Batteries Market research report reveals important insights into market scenario to enable key players in taking calculated decision making. Basically, one of the major purposes of market research reports is to maximize the business growth opportunities. It also helps key players to turn business into a successful business by increasing the profit level. The overall business goal can be accomplished through this Power Sports Batteries Market study report as it consists of all the current happenings and major innovations of the marketplace. Depending on the overall business objective, it is important to reduce business risks to generate larger revenues in the business. Several regions are captured in this Market report which includes North America, Europe, Middle East, Africa, Latin America and Asia Pacific.
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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 – 2024-2030
- Base year- 2023
- Forecast period- 2024-2030
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Global Power Sports Batteries Market Report by Segment
By Battery Type
- Conventional Batteries
- Absorbent Glass Mat (AGM) Batteries
- Lithium Batteries
By Voltage
- 6V
- 12V
- 24V
- 36V
- 48V
By Distribution Channels
- OEM
- Aftermarket
Global Power Sports Batteries Market Report by Region
North America
- US
- Canada
Europe
- Germany
- United Kingdom
- France
- Spain
- Italy
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
Rest of the World
- Middle East & Africa
- Latin America
The Report Covers
- 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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