Latin America motorcycle lead acid battery Market- By Power Output (3Ah to 6Ah, 7Ah to 10Ah, 11Ah to 18Ah, More than 18Ah), By Sales Channel (Retail, Distributor), By Country (Argentina, Uruguay, Peru, Chile, Paraguay, Bolivia, Ecuador, Venezuela, Colombia, Dominican Republic, Costa Rica); Trend Analysis, Competitive Market Share & Forecast, 2017-2028
- Published Date: July 2021
- Report ID: bwc21418
- Available Format: PDF
- Page: 142
Report OverviewLead acid batteries are the widely used batteries across all battery types in photovoltaic systems. Despite the low energy density, lack of efficiency, and higher maintenance, lead-acid batteries are the longest-lasting types of batteries and are regarded as the most rechargeable of all batteries.
The Latin America motorcycle lead acid battery market reached USD 547,212.8thousand in 2020 and is further projected to reach USD 822,534.2thousandby 2028, growing at a CAGR of 5.4% during 2021-2028 (forecast period). The growing emphasis on the consumption of two-wheelers, along with rising technological advancements in the domain has positively impacted the growth of the Latin America motorcycle lead acid battery market. Growing concerns about the environmental impact of cars and four-wheelers have led people to opt for measures and vehicles that have little to no impact on the environment. Motorcycles have been one of the major contributors in such a pursuit as they have higher mileage in comparison to other vehicles and offer good value for money, which makes consumers opt for such vehicles. As motorcycles and lead acid batteries are both growing in tandem, the Latin American motorcycle lead acid batteries market is currently witnessing steady growth.
Latin America Motorcycle Lead Acid Battery Market Overview
Lead acid batteries are the widely used batteries across all battery types in photovoltaic systems. Despite the low energy density, lack of efficiency, and higher maintenance, lead-acid batteries are the longest-lasting types of batteries and are regarded as the most rechargeable of all batteries. Additionally, these batteries are cheaper and inexpensive in comparison to their counterparts. Lead-acid batteries are composed of a porous, spongy negative electrode. The porous nature of lead provides a mechanism for dissolving and forming lead. However, the positive electrode contains lead oxide. Both electrodes are immersed in an electrolytic solution containing sulfuric acid and water.
Latin America motorcycle lead acid battery market Forecast and Trends
Rise in sales of motorcycle in Latin America
Rising two-wheeler sales, expanding two-wheeler fleet size, and rising per capita income in Latin America are driving growth in the region's two-wheeler tire industry. Additionally, the Due to the increased demand for personal transportation, manufacturers in the region have increased their two-wheeler production, which has, in turn led to a boost in OEM two-wheeler tire sales in the region over the last five years. Motorcycle sales in Latin America are on the rise, increasing demand for batteries. Due to this factor, the lead acid battery market is expected to grow at a high rate during the forecast period.
Other factors contributing to the rise in motorcycle use in Latin America include (i)increased per capita incomes, (ii) low cost of motorcycles, (iii) inferior service offered by other transport modes (fares, coverage, reliability, traffic congestion), motorcycle transportation as an important source of employment and reliable mobility, (v) motorcycles as a means of achieving social status, (vi) transport of family, (vii) driver education as a factor affecting road safety, and finally (vii) motorcycle culture. However, factors challenging the rise in two-wheelers are congestion, air pollution, road accidents, noise pollution, climate change, and fossil-fuel consumption.
Availability of multiple substitutes in the market
Although automakers have made significant innovation and progress in alternative technologies, lead-based batteries are still the only technologically viable mass-market option currently available for conventional vehicles, as well as for start-stop and micro-hybrid vehicles. Alternative technologies would have to meet existing batteries' reliability, safety, affordability, and other criteria.
The availability of alternatives for the lead acid battery is hindering market growth. Lithium-Ion Batteries, Nickel-Metal Hydride Batteries, and Ultra capacitors can all be used to replace lead acid batteries in the automobile sector.
Lithium-ion batteries are currently used in most portable consumer electronics such as cell phones and laptops because of their high energy per unit mass compared to other electrical energy storage systems. They also have a high power-to-weight ratio, high energy efficiency, good high-temperature performance, and low self-discharge. Moreover, most power outputs of lithium-ion batteries can be recycled. A majority of plug-in hybrid electric vehicles and all-electric vehicles use lithium-ion batteries, though their exact chemistry often differs from consumer electronics batteries. Researchers are continuing to research and develop ways to reduce cost and carbon footprint and extend the life of these products. The demand for lithium could also be eased by recycling, which has already proved its value with lead–acid batteries.
Impact of COVID-19 on Latin America motorcycle lead acid battery market
The Covid-19 pandemic has had a negative impact on the Latin America Motorcycle Lead Acid Market. Various stringent measures were imposed by the government to control the spread of the virus. In addition to a reduction in the labor force, COVID-19 affected economies and livelihoods as well as production operations in developing countries. The effects of COVID-19 are also having a significant impact on the technology sector, affecting raw materials supply, disrupting the electronics value chain, and causing an inflationary risk on products.
In 2020, Latin America's motorcycle market has been heavily affected by the Covid19, the economic crisis, and currency devaluation, with full-year sales down by double digits at 2.6 million units. Brazil, Colombia, Argentina, and Ecuador were among the top markets to decline. In Brazil the automotive industry has been hard hit by the COVID-19 spread, while the motorcycles sector trend is running much better than the automotive sector.
Surging COVID-19 cases are a threat to the nascent economic rebound in Brazil. While further fiscal stimulus is unlikely, monetary policy has embarked on a path to normalization. Economic indicators suggest only a modest expansion in the first quarter of 2021. This is most likely due to a steady rise in COVID-19 infection rates since November of last year, which in turn has impacted consumer and business confidence. Fiscal assistance, which aided the economy in 2020, is unlikely to play a significant role this year as the government focuses on repairing its finances.
Latin America motorcycle lead acid battery market- By Power Output
Based on power output, the Latin America motorcycle lead acid battery market can be segmented into3Ah to 6Ah, 7Ah to 10Ah, 11Ah to 18Ah, and more than 18Ah. The 11Ah to 18Ahbattery power output accounted for the largest share in the Latin America motorcycle lead acid battery market in 2020. However, 7Ah to 10Ah is expected to record the fastest CAGR across all power output types during the forecast period. Battery power output types of 11Ah to 18Ah are the most widely used battery types because of their greater life efficiency. The power output battery type is known for its energy efficiency per KWH and offers greater value for the power at this power output. The factor has been positively influencing the Latin America motorcycle lead acid market. Further, these power output battery types are also known to have the least degrading capabilities, which provides an additional advantage to consumers, making them the most popular power output choice for consumers on the Latin American motorcycle lead acid battery market.
Latin America motorcycle lead acid battery market- By Sales Channel
Based on sales channels, the Latin America motorcycle lead acid battery market is grouped into retailers and distributors. The distributor segment accumulated the biggest share in the Latin America motorcycle lead acid battery market in 2020. However, it is anticipated that the retail segment would grow at the fastest CAGR in the Latin America Motorcycle Lead Acid Battery market during the forecast period. Customers may assess the quality of these batteries by inspecting them with mechanics at major distribution hubs, which has contributed to the growth of the distributor market. By using this service, the customers can select the right battery with the help of mechanics, then use them to enhance the performance of their motorcycle. Therefore, indirect sales channels are known to drive the Latin America motorcycle lead acid battery market.
Source: BlueWeave Consulting
Latin America Motorcycle Lead Acid Battery Market- By Country
Based on countries, the Latin America motorcycle lead acid battery market is divided into Argentina, Uruguay, Peru, Chile, Paraguay, Bolivia, Ecuador, Venezuela, Colombia, Dominican Republic, and Costa Rica. Argentina accounted for the largest share in the Latin America motorcycle lead acid battery market in 2020.Argentina's market growth can be ascribed to the fact that the country is home to some of the major players who also happen to be the largest lead acid battery producers in the Latin American region. Moreover, the country has been experiencing increased demand for motorcycles, which is accompanied by reduced labour costs, which is encouraging companies to hire more people, thereby enhancing production capabilities.
The existence of some of the world's largest lead acid battery production plants in the region has increased prospects for new entrants in the Latin American motorcycle lead acid battery industry, resulting in increased investment in the region.As a result, the Latin America motorcycle lead acid battery market is fragmented in nature. Some of the key players in the market are EnerSys, Yuasa, Samsung SDI, Motobatt, Vasworld Power, Enerbrax, BS BATTERY, Leoch Battery, and other prominent players.The companies have been leveraging strategies such as mergers and acquisitions to increase their market share and gain a stronger foothold in the Latin American motorcycle lead acid battery market.
· In December 2020, EnerSys teamed up with NAPA AUTO PARTS to offer premium Absorbed Glass Mat (AGM) ODYSSEY® batteries. As an Approved Vendor, EnerSys® will have the ability to provide ODYSSEY® batteries to 57 distribution centers, 6,000 NAPA AUTO PARTS stores, and more than 17,000 NAPA AutoCare and AutoCare Collision Centers nationwide.
Scope of Report
Historical data- 2017-2020
Base Year- 2020
Revenue in USD Thousand
Argentina, Uruguay, Peru, Chile, Paraguay, Bolivia, Ecuador, Venezuela, Colombia, Dominican Republic, and Costa Rica
Product/ Service segmentation
By Power Output, By Sales Channel, By Country
EnerSys, Yuasa, Samsung SDI, Motobatt, Vasworld Power, Enerbrax, BS BATTERY, Leoch Battery, and others prominent players
By Power Output
- 3Ah to 6Ah
- 7Ah to 10Ah
- 11Ah to 18Ah
- More than 18Ah
By Sales Channel
- Dominican Republic
- Costa Rica
Frequently Asked Questions:
- U.S. Organic Food Market Size, Share, Trends ,Forecast To 2025 | CAGR 15%
- Global Electrical Steel Market 2020 |By Growth, Trends, and Forecast up to 2026
- Global Protease Inhibitors Market Size – Industry Trends & Forecast Report 2026
- Product Information Management (PIM) Market Size, Share & Forecast 2027 | BlueWeave
- Global Nylon 6,6 Market
WHY CHOOSE US
24/7 Research support
Get your queries resolved from an industry expert. Request for a free product review before report purchase.
Coustom Research Service
Ask the Analyst to customize an exclusive study to serve your research needs
Quality & Accuracy
Ask the Analyst to customize an exclusive study to serve your research needs
As the business world is changing dynamically every day. We need to stay pin point in relation to data management and optimum data utilization
We never share your personal and confidential information. Your personal information is safe and secure with us.