Powersports Batteries Market

Powersports battery is mainly utilized in ATVs, motorcycles, UTVs, golf carts, boats, snowmobiles, and lawnmowers. These power sports batteries are maintenance-free, completely sealed, and supplied by a large manufacturing unit. The power sports battery market has huge development potential during the forecast period because of urbanization, rise in  per capita disposable income, increase in global demand for electric vehicles, and technological advancement in battery manufacturing. However, losing profits and the reputation of the OEM brand due to counterfeit products hinder the growth of the global market for powersports batteries.

COVID-19 Impact Analysis

The powersports batteries market was impacted by the COVID-19 pandemic. Global blockade restrictions have disrupted the production and sales of new vehicles, directly affecting the demand for powersports batteries. Furthermore, due to the disruptions in the supply chain, the raw materials required to manufacture powersports batteries were unavailable, resulting in production delays. These all factors have adversely affected the global powersports batteries market, resulting in significant drop in the industrial economy. However, companies are taking precautionary measures to tackle the adverse effects of the outbreak.

Top Impacting Factors

• Rise in urbanization, increase in per capita disposable income, growth in demand for electric vehicles across the globe and technological advancements in the battery manufacturing sector drive the growth of the global power-sports batteries market. 
•  However, OEMs losing profits as well as brand reputation owing to counterfeit products hinder the growth of the global power-sports batteries market. 
• On the contrary, rapid technological advancements along with the notable developments in the lithium-ion battery technology provide lucrative opportunities for the global power-sports batteries market.

Market Trends 

Lithium-ion Powersports Batteries – Upcoming Trends 

The lithium-ion battery is a type of rechargeable battery, which uses lithium-ion as the main electrochemical component Lithium-ion battery technology has several advantages, including upcoming trends in the global powersports batteries market, which will drive the power-batteries market. Lithium-ion batteries as compared to other batteries, can store very high voltage and charge per unit mass and unit volume. Lithium-ion batteries have low self-discharge, high energy density, fast charging speed, and long service life. Manufacturers are developing power-sports battery cells according to the advanced lithium-ion batteries. The limited life cycle and assessible capacity may shift the focus from lead-acid batteries to lithium-ion batteries, and promote the power-sports batteries markets during the forecast period. Another advantage of lithium-ion batteries is its lightweight, which aids to maintain the power-to-weight ratio of the vehicle. The electrodes of lithium-ion batteries are made up of lithium and carbon. Lithium ion batteries store more energy per kilogram of weight compared to lead-acid batteries. Thus, the introduction of lithium-ion batteries in electric vehicles is going to boost the overall EV battery cells market during the forecast period.

Key Benefits of the Report:

• This study presents the analytical depiction of the power-sports batteries industry along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with challenges of power-sports batteries market.
• The current market is quantitatively analyzed to highlight the growth scenario of the power-sports batteries market.
• The report provides a detailed power-sports batteries market analysis based on competitive intensity and the competition that will take shape in coming years.

Questions Answered in the Power-Sports Batteries Market Research Report:

• Who are the leading market players active in the power-sports batteries market?
• What would be the detailed impact of COVID-19 on the market?
• What are the current trends that would influence the market in the next few years?
• What are the driving factors, restraints, and opportunities in the power-sports batteries market?
• What are the future projections that would help in taking further strategic steps? 

 Powersports Batteries Market Report Highlights