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2021
Recreational Vehicles (rvs) Batteries Market

Recreational Vehicles (RVs) Batteries Market

by Battery Type (Lead Acid Batteries, Lithium Batteries, Others), Voltage Range (Less than 12 Volt, 12 Volt, and More than 12 Volt), and Sales Channel (OEM and Aftermarket): Global Opportunity Analysis and Industry Forecast, 2021-2030

Report Code: A13677
Pages: 252
Sep 2021 | 3716 Views
Author(s) : Omkar B , Sonia M
Tables: 108
Charts: 56
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COVID-19

Pandemic disrupted the entire world and affected many industries.

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Recreational Vehicles (RVs) Batteries Market Statistics 2030 -

The global recreational vehicles batteries market was valued at $0.43 billion in 2020, and is projected to reach $0.69 billion by 2030, registering a CAGR of 5.1%.

The spread of the COVID-19 pandemic has negatively impacted the global recreational vehicles (RVs) batteries market, owing to commute restrictions, negative demand outlook, and expected weak financial performance of the market players in 2020. Owing to commute restrictions, recreational activities across the globe have changed in 2020 result to witness a negative demand pattern from end-users. However, changing recreational activities outlook and growing electrification activities are expected to witness a recovery in 2021.

Recreational vehicles (RVs) battery is an energy storage device that provides electric input energy to power the vehicle electric components. Recreational Vehicles (RVs) Batteries are an integral part of the recreational vehicle that supports the various electric vehicle internal as well as external component. Growing electrification and increasing recreational activities across the globe are the key factors are expected to influence the demand for Recreational Vehicles (RVs) Batteries in the near future. Lithium-based recreational vehicles (RVs) batteries has high density and improved capacity as compare to lead acid and other type of batteries. Lithium based batteries are anticipated to gain traction during the forecast period. In addition the demand of recreational vehicles (RVs) batteries are directly influenced by the changing momentum of the recreational vehicle industry. 

Recreational-Vehicles-(RVs)-Batteries-Market-2021-2030

Factors such as changing outlook of the leisure & recreational activities and rise in electrification activities, are expected to drive the growth of the recreational vehicles (RVs) batteries market. However, unstable supply of raw material restraints the market growth. On the contrary, strong distributors and dealers network entering into agreements and contracts with recreational vehicle manufacturers are projected to offer lucrative growth opportunities for the market players.

The global recreational vehicles (RVs) batteries market is segmented into battery type, voltage range, sales channel, and region. Depending on battery type, the market is segregated into lead acid batteries, lithium batteries, and others. By voltage range, it is categorized into less than 12 volt, 12 volt, and more than 12 volt. Depending on sales channel, it is fragmented into OEM, and aftermarket. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Recreational Vehicles (RVs) Batteries Market
By Battery Type

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Lithium Batteries segment is projected as the most lucrative segments

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Leading players and their key business strategies have been analyzed in the report to gain a competitive insight into the market. Key players covered in the report include ACDelco, Clarios, Crown Battery Manufacturing Company, East Penn Manufacturing Co., EnerSys, Exide Technologies, Fullriver Battery, Interstate Battery System International, Inc., MIDAC S.p.A., and RELiON Battery LLC. 

Changing outlook of the Leisure & recreational activities

Leisure and recreational activities have been gaining traction in recent years across the globe as every individual is focusing toward the positive lifestyle for stress management. Weather situations, geopolitics situations and change in consumer spending outlook are the key factors that support recreational activities across the globe. Moreover, citizens across the globe have focused toward living healthier lifestyles, driving growth for active and outdoor recreation sector. According to the Bureau of Economic Analysis, U.S. published data, the U.S. has witnessed outdoor recreation economy that accounted for 2.1% ($459.8 billion) of gross domestic product (GDP) for the nation in 2019. The recreational activities are gaining momentum and it is expected to gain traction in the upcoming years. Recreational vehicles are widely used for recreational purposes across the globe. The changing public lifestyle and growing health concern is anticipated to support the growth of recreation activities in the recent years. The increase in recreational activities is expected to in turn support the growth of recreational vehicles, which in turn is projected to support the growth of recreational vehicle battery in the near future.

Recreational Vehicles (RVs) Batteries Market
By Voltage Range

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12 Volt segment is projected as the most lucrative segments

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Improved efficiency

Recreational vehicles (RVs) batteries eliminates cash payment and concerns associated with language barriers between drivers and passengers, thereby allowing facilitating hassle-free payment using smartcards. With every swipe of card, valuable data is collected and instantly incorporated in a database to enable efficient handling of payments, faster transactions and less processing time. In addition, it enables merchants to manage records efficiently and handle large amount of transactions. Furthermore, faster validation of transactions allows the staff to generate fare tokens and tickets quickly. The Recreational Vehicles (RVs) Batteries have improved the efficiency of fare box collection and made the journey convenient for the commuters and thereby, drives the market growth.  

Rise in electrification activities

Recreational vehicle OEMs are relying on electrical components, owing to their output efficiency and lightweight; thus, making recreational vehicle electrification a fuel economic solution. Furthermore, electrification is the future step as majority of the manufacturers are integrating several components and features that operate through the battery input to cope with green mobility requirements. In addition, batteries are the significant part of the recreational vehicle that supplies the electricity input to various electrical components required for effective functioning. Moreover, the price of battery is declining significantly. For instance, according to a research study published by Bloomberg New Energy Finance (BNEF) on the automotive battery, in 2010, the automotive battery price was $1,100 per Kwh, whereas it was $137 per Kwh in 2020. Moreover, these prices are expected to fall in the same momentum in the upcoming years. Falling prices of the batteries and growing trend of electrification are expected to spur the growth of the recreational vehicle (RVs) batteries market.

Recreational Vehicles (RVs) Batteries Market
By Sales Channel

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Aftermarket segment is projected as the most lucrative segments

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Unstable supply of raw material

The battery manufacturers have to procure multiple raw materials for building a battery. The major raw materials essential for manufacturing recreational vehicle batteries are cobalt, lithium, and manganese. The availability of cobalt and lithium is negligible in the majority of the region across the globe as the majority of cobalt is mined in the Democratic Republic of Congo (DRC) and China. For instance, according to the data published by Cobalt Institute in 2018, 47% of global refining of cobalt took place in China. Besides cobalt, raw materials, such as lithium and manganese, are also scarce in North America and are largely available in Argentina, Australia, Bolivia, Chile, China, and South Africa, which create an obstacle for acquiring these raw materials for the battery manufacturers located across the globe. For instance, globally, Australia, Chile, and China were responsible for 52.9%, 21.5%, and 9.7% of the production of lithium, respectively. The battery manufacturers also face challenges in the procurement of these raw materials, owing to the volatility and price variations of the market of recreational vehicle battery raw materials caused by the high concentration, metal oversupply, and economic slowdowns in emerging countries such as China. In addition, the trade war between the U.S. and China, which has also created additional barriers for procuring these raw materials by the U.S. battery manufacturers, as China is one of the largest exporters of these raw materials. The fluctuation in supply of the raw materials required for manufacturing recreational vehicle batteries is a major factor expected to restrain the growth of the recreational vehicle (RVs) batteries market.

COVID-19 Impact Analysis 

The spread of the COVID-19 pandemic has negatively impacted the global recreational vehicles (RVs) batteries market, owing to commute restrictions and expected weak financial performance of market players in 2020. The major risk factors of the recreational vehicles (RVs) batteries market participants are supply chain execution, regulatory & policy changes, dependency on labor, working capital management, and liquidity & solvency management. The second wave of COVID-19 hit hard more than earlier strain of COVID-19 in February 2021, and is expected to impact the overall economic outlook negatively to a greater extent. The global business outlook has changed dramatically post the COVID-19 health crisis.

Recreational Vehicles (RVs) Batteries Market
By Region

2030
North America 
Europe
Asia-Pacific
LAMEA

North America would exhibit the highest CAGR of 6.4% during 2021-2030.

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Key Benefits For Stakeholders

  • This study presents analytical depiction of the global recreational vehicles (RVs) batteries market analysis along with the current trends and future estimations to depict imminent investment pockets.
  • The overall recreational vehicles (RVs) batteries market opportunity is determined by understanding profitable trends to gain a stronger foothold.
  • The report presents information related to key drivers, restraints, and opportunities of the global recreational vehicles (RVs) batteries market with a detailed impact analysis.
  • The current recreational vehicles (RVs) batteries market is quantitatively analyzed from 2020 to 2030 to benchmark the financial competency.
  • Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the industry.

Key Market Segments

By Battery Type

  • Lead Acid Batteries
  • Lithium Batteries
  • Others

By Voltage Range

  • Less than 12 Volt
  • 12 Volt
  • More than 12 Volt

By Sales Channel

  • OEM
  • Aftermarket

By Region

  • North America
    • US
    • Canada
    • Mexico
  • Europe
    • UK
    • Spain
    • France
    • Germany
    • Rest of Europe
  • Asia-Pacific
    • China
    • Japan
    • India
    • South Korea
    • Rest of Asia Pacific
  • LAMEA
    • Latin America
    • Middle East
    • Africa

Key Players

  • ACDelco 
  • Clarios 
  • Crown Battery Manufacturing Company 
  • East Penn Manufacturing Co. 
  • EnerSys 
  • Exide Technologies
  • Fullriver Battery 
  • Interstate Battery System International, Inc. 
  • MIDAC S.p.A.
  • RELiON Battery LLC
 

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The global recreational vehicles (RVs) batteries market is expected to witness significant growth, owing to increase in electrification, and changing outlook of the leisure & recreational activities. Lithium-based recreational vehicles (RVs) batteries are gaining significant traction in the current era, owing to their operational capability along with cost-effectiveness in the long run. The global recreational vehicles (RVs) batteries market is a fairly fragmented market in which several market participants are operating in the global market. Market participants are focused to develop their sales footprints by entering into long-term contracts and agreements with the vehicle manufacturer and introduce new product lines of recreational vehicles (RVs) batteries as per the specific requirements of the end users. Numerous developments have been carried out by top companies, such as East Penn Manufacturing, EnerSys, Exide Technologies, ACDelco, Clarios, RELiON Battery LLC, and MIDAC S.p.A., which supplements the growth of the global recreational vehicles (RVs) batteries market. COVID-19 significantly affected the global recreational vehicles (RVs) batteries market in 2020. Furthermore, the market witnessed negative growth or significant downfall in 2020. However, this situation is expected to improve as government has started relaxing norms around the world for resuming business activities.

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FREQUENTLY ASKED QUESTIONS?

A. The global recreational vehicles batteries market was valued at $427.44 million in 2020, and is projected to reach $694.85 million by 2030, registering a CAGR of 5.1%.

A. Crown Battery Manufacturing Company, East Penn Manufacturing Co., EnerSys, Exide Technologies, and RELiON Battery LLC are the largest recreational vehicles (RVs) batteries manufacturer

A. The report sample for global Recreational Vehicles (RVs) Batteries market report can be obtained on demand from the website.

A. Crown Battery Manufacturing Company, East Penn Manufacturing Co., EnerSys, Exide Technologies, and RELiON Battery LLC has strong positioning in the global market

A. The global recreational vehicles batteries market is registering a CAGR of 5.1%.

A. The company profiles of the top players of the market can be obtained from the company profile section mentioned in the report. This section includes analysis of top ten player’s operating in the industry along with their last three-year revenue, segmental revenue, product offerings, key strategies adopted, and geographical revenue generated

A. Changing recreational and lesiure activities outlook and growing electrification activities support the growth of the market

A. Crown Battery Manufacturing Company, East Penn Manufacturing Co., EnerSys, Exide Technologies and RELiON Battery LLC are the leading companies in the global market

A. Developing strong distributors and dealers network for strong sales footprints

A. Changing outlook of the Leisure & recreational activities, Unstable supply of raw material, and Entering into agreements and contracts with recreational vehicle manufacturers are the known and unknown adjacencies impacting the RVs batteries market

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