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WILMINGTON, NEW CASTLE, DE, UNITED STATES, October 14, 2024 /EINPresswire / -- According to a recent report published by Allied market Research, titled,“Recreational vehicles (RVs) Batteries Market by Battery Type, Voltage Range, and Sales Channel: Global Opportunity Analysis and industry Forecast, 2021–2030,”
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%. Asia-Pacific was the highest revenue contributor, accounting for $0.15 billion in 2020, and is estimated to reach $0.24 billion by 2030, with a CAGR of 4.9%. North America is estimated to reach $0.26 billion by 2030, at a significant CAGR of 6.4%.
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The growth of the global recreational vehicles (RVs) batteries industry is driven by surge in electrification activities to minimize the carbon footprints, and change in outlook of the recreational activities. Lead acid-based recreational vehicles (RVs) batteries has witnessed leading market share owing to its cost effectiveness along with operational effectiveness. However, lithium based batteries are expected to witness lucrative growth opportunities during the forecast period owing to high battery density and improved battery capacity. In addition, market participants are entering into long term agreements and contracts with recreational vehicle manufacturers to gain competitive advantage in the global market. Asia-Pacific dominated the recreational vehicles (RVs) batteries market in the year 2020. In addition, U.S., China, and Canada are expected to witness as emerging countries in the global recreational vehicles (RVs) batteries market. The global recreational vehicles (RVs) batteries market is a fairly fragmented market with several number of players holding majority of share.
The spread of the COVID-19 pandemic has negatively impacted the global recreational vehicles (RVs) batteries market. The outbreak of the COVID-19 virus led to a complete shutdown of battery manufacturing and distribution organizations located across the globe is hampering the production of lithium-ion batteries. The supply chain disruptions have forced the major global lithium-ion battery manufacturers to shift a portion of their supply chains out of China in response to pandemic related shutdowns. The decline in production and sales activities created a revenue crunch for major global recreational vehicle battery vendors in the first quarter of 2020.
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Key Findings Of The Study :
By battery type, the lithium batteries segment is expected to register significant growth during the forecast period.
By voltage range, the 12 volt segment is projected to lead the global market in terms of market share by the end of the forecast period.
By sales channel, the aftermarket segment is projected to lead the global market, in terms of market share, by the end of the forecast period.
By region, Asia-Pacific dominated the global recreational vehicles (RVs) batteries market in 2020 in terms of market share.
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
Europe
Asia-Pacific
LAMEA
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Leading Market 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.
About us :
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies, and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
David Correa
Allied Market Research
+1 800-792-5285
email us here
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