Portland, OR, Oct. 07, 2023 (GLOBE NEWSWIRE) — According to the report published by Allied Market Research, the global recreational vehicles (RVs) batteries market was estimated at $0.43 billion in 2020 and is expected to hit $0.69 billion by 2030, registering a CAGR of 5.1% from 2023 to 2030. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and wavering market trends.
Changing outlook regarding leisure & recreational activities and increase in electrification events drive the growth of the global recreational vehicles (RVs) batteries market. On the other hand, unstable supply of raw materials restrains the growth to some extent. However, strong network of the distributors and dealers across the world is expected to create lucrative opportunities in the industry.
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COVID-19 scenario-
- Several regulatory & policy changes, disrupted working capital management, and distorted supply chain impacted the global recreational vehicles (RVs) batteries market negatively, especially during the initial phase.
- However, the global situation is getting ameliorated and the market is projected to revive soon.
The global recreational vehicles (RVs) batteries market is analyzed across battery type, voltage range, sales channel, and region.
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By voltage range, the 12 volt segment held the largest share in 2020, accounting for more than two-fifths of the global recreational vehicles (RVs) batteries market. The same segment would also showcase the fastest CAGR of 5.8% during the forecast period.
By sales channel, the aftermarket segment is anticipated to cite the fastest CAGR of 5.6% throughout the forecast period. The same segment also held the lion’s share in 2020, contributing to more than half of the market.
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By region, the market across North America held the largest share in 2020, accounting for nearly one-third of the market. The same region would also portray the fastest CAGR of 6.4% from 2023 to 2030. The other provinces studied in the report include Europe, Asia-Pacific, and LAMEA.
The key market players analyzed in the global recreational vehicles (RVs) batteries market report include Elite BMX, Fit Bike Co., MafiaBikes, Haro Bikes, Redline Bicycles, Kink, Pacific Cycles, Cult Crew, Stolen BMX, and GT Bicycles. These market players have incorporated several strategies including partnership, expansion, collaboration, joint ventures, and others to brace their stand in the industry.
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