Latin America Motorcycle Lead Acid Battery Market is accelerating: Expected to Reach USD 822,534.2 thousands in 2028

Published | 26 July 2021

A study recently conducted by the strategic consulting and market research firm, BlueWeave Consulting, revealed that the Latin America motorcycle lead acid battery market reached USD 547,212.8 thousands in 2020 and is further projected to reach USD 822,534.2 thousands by 2028, growing at a CAGR of 5.4% during 2021-2028 (forecast period). The rising consumption of two wheelers accompanied by rapidly changing technologies across the region in the motorcycle acid lead acid battery domain has positively contributed to the growth of the Latin America motorcycle lead acid battery market. The growing concerns about the environmental impact that batteries leveraged in cars and four wheelers have had encouraged people to opt for solutions that is shifting the demand from four wheelers to 2 wheelers in the region. Additionally, the rising traffic jams due to poor transportation infrastructure is augmenting the demand for two-wheelers as the infrastructure renders leveraging cars to be worthless. It has positively impacted the growth of the Latin America motorcycle lead acid battery market.

Rise in sales of motorcycle in Latin America is driving the Latin America motorcycle lead acid battery market growth

Latin America has been witnessing a rise in growth of two wheeler tire market which is followed by a rise in two wheeler sales across the region. Additionally, the region has been able to showcase rising per capita income levels as well which is augmenting the demand for personal transportation as well, which in turn has increased the OEM two wheeler tire demand across Latin America over the past few years. The rise of motorcycle is proportional to an increase in the demand for lead acid batteries as well as it happens to be the one that is preferred for consumption in batteries. As a result, the factor is helping in enhancing the expansion of the of lead acid battery across the Latin American region thereby driving the growth of the Latin America motorcycle lead acid battery market.

Rising technological advancements in the motorcycles is pushing the demand for lead acid batteries thereby augmenting Latin America motorcycle lead acid battery market growth

The growing concerns for the environment has enabled a spurring demand for electric vehicles. The demand has been influencing the growth of electric motorcycles in the region. Since, electric motorcycles leverage sealed or rechargeable lead acid batteries, the region has been witnessing a rising consumption of such battery types which is showcasing an accelerating growth rate for the Latin America motorcycle lead acid battery market. The possibility of spoilage which is quite common across lead acid batteries is also diminished by leveraging such batteries which makes it hassle free for the end-user in terms of maintenance. Since, these batteries are designed in such a way that they utilize readily available materials, these batteries come with lower costs which doesn’t pinches the pocket of the end-user in comparison to that of Lithium ion batteries. It thus makes it more suitable for a low to medium income countries like those in Latin American region, thereby driving theLatin America motorcycle lead acid battery market.

Major growth in demand coming from 11Ah to 18Ahpower output segment in the Latin America motorcycle lead acid battery market

For power outputs, the Latin America motorcycle lead acid battery market is bifurcated into 3Ah to 6Ah, 7Ah to 10Ah, 11Ah to 18Ah and More than 18Ah. The 11Ah to 18Ahbattery power output acquired the highest share in the Latin America motorcycle lead acid battery market in 2020. As against this, 7Ah to 10Ah is anticipated to register a brisk CAGR out of all power output types during the forecast period (2021-2028). The 11Ah to 18Ah battery power output type is the most widely used battery type owing to its life efficiency capabilities over its counterparts. 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 factors may have been positively influencing the market. In addition to this, these power output battery types are sometimes recognized with some of the least degrading capabilities as well which provides the consumers with an added advantage making it the most preferred power output choice for consumers in the Latin America motorcycle lead acid battery market. It has thus helped in pushing the demand for such power output in the market, which is driving the growth of the market.

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Distributors occupies the largest market share in the Latin America motorcycle lead acid battery market

The growth of the distributors across the sales channel segment in the Latin America motorcycle lead acid battery market can be attributed to the rising presence of distributors and better coverage area of distributors than the retailers in the region. As a result, the distributors held the largest share in the market in 2020. The companies distribute the batteries demanded via these channels as they are hassle free for the producers. Additionally, the consumers find it to be an accessible approach than the retailers as they get to understand the dynamics of leveraging such batteries in their vehicles and the distributors help enhance the producers image by increasing their exposure across consumers thereby making it a better alternative than retailers in the Latin America motorcycle lead acid battery market.

Latin America Motorcycle Lead Acid Battery Market: Regional Insights

Based on the region, 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 presently dominates the market and it is expected to maintain its dominance over the upcoming years as well. However, Venezuela is expected to record the fastest CAGR across the region. Argentina has been witnessing a spurring demand for motorcycles to resolve the traffic issues which has entangled the country for many years owing to poor transportation network which is accompanied by rising prese4nce and distribution channels of major lead acid battery companies in the country which is enhancing the production levels of lead acid batteries in the country thereby augmenting the growth of the Latin America motorcycle lead acid battery market.

COVID-19 Impact Analysis

The COVID-19 has brought the issues pertaining to the transportation network to the limelight. The Latin America happens to be one of the worst hit regions around the world with Chile and Peru being one of the worst hit countries. It had thus disrupted the supply chain of lead acid batteries and negatively impacted the growth of the Latin America motorcycle lead acid battery market. All top markets across the region witnessed a decline across countries including Brazil, Colombia, Argentina, Ecuador. In Brazil, the automotive industry has been hardly hit by COVID-19 spread, while the motorcycles sector trend is running much better than the car 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. However, the lead acid batteries market which is allied to the industries is still going through its after effects and it is only after a few years that the market might reach pre-pandemic levels.

The leading players in the Latin America motorcycle lead acid battery market include EnerSys, Yuasa, Samsung SDI, Motobatt, Vasworld Power, Enerbrax, BS BATTERY, LeochBattery, and others prominent players. The presence of a vast distribution network of such companies in various regions around the Latin American region has made it easier for the companies to get more exposure of lead acid batteries to the consumers. Additionally, the competition is encountering a rise in substitutes which is helping small players to receive ample opportunities in the Latin America motorcycle lead acid battery market thereby making the Latin America motorcycle lead acid battery market to be fragmented in nature.

In May 2021, Leoch Battery acquired Madrid-based battery distribution business of Meibat SLto grow its European operations in Spain and Portugal and Latin America. The new company expects to create additional jobs through a strategic plan to use the Spanish operations as a base to extend into Latin America, using a network of local representatives in different Latin American countries, supported by Leoch Iberia and Leoch EMEA headquarters in Athens, Greece.

Don’t miss the business opportunity of Latin America motorcycle lead acid battery market. Consult our analysts to gain crucial insights and facilitate your business growth.

The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of Latin America motorcycle lead acid battery market size & forecast. The report promises to provide recent technology trends of the Latin America motorcycle lead acid battery market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyses the growth drivers, challenges and competitive dynamics of the Latin America motorcycle lead acid battery market.

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