Newark, Jan. 12, 2023 (GLOBE NEWSWIRE) -- The Jump Starter market was estimated at around 325.1 million in 2021, growing at a CAGR of nearly 1.3% during 2022-2030. The market is projected to reach approximately USD 370.1 million by 2030.
Jump Starter Market: Overview
The rising demand for cars and motorcycles around the world is to blame for the expansion of the portable jump starter business. Additionally, consumers have started using portable jump starts as a car backup power source due to growing awareness of safety and security. Lithium-ion, lead-acid, and other types of portable jump starters make up the type segments of the market (nickel-cadmium and nickel-metal hydride). The global portable jump starter market is divided into four categories based on application: automobile, motorbike, others (marine equipment & appliances), and power tools.
In the event of a dead battery, a portable jump starter can be used to start a vehicle's engine. Typically, it includes of cables that can be linked to the car's battery and a battery pack. The benefit of portable jump starters is that they can help individuals restart their vehicles without having to wait for outside assistance, which can be crucial in an emergency.
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Growth Factors
Jump Starter is widely used in the automotive and transportation sectors. Around 25% of American vehicles, according to CNBC data, are thought to be at least 16 years old. In addition, the typical vehicle age has increased to a record level. The prevalence of auto breakdowns and stranded vehicles is rising as a result of the growing fleet of older vehicles. Therefore, this is anticipated to increase the use of improved jump starts worldwide. Additionally, the growing demand for advanced charges and the increasing electrification of automobiles are anticipated to support the expansion of the portable jump starter market globally in the years to come. The number of people who work remotely or frequently travel is on the rise; this group is referred to as the "digital nomad" population. These people frequently need mobile power supplies to keep their electronic devices charged. Portable jump starters precisely suit this demand, which is why they are growing in popularity with this particular demographic.
Segmental Overview
Based on type, the global market for portable jump starter is bifurcated into lithium ion batteries and lead acid batteries. Based on application type, the market is segmented into automobiles, motorcycles, and others.
Portable lead-acid jump starters are tools that deliver a short burst of electricity to start a car or other vehicle using lead-acid batteries. Compared to conventional lead-acid batteries, these gadgets are typically more compact and portable, making them simple to travel and store. Compared to lithium-ion jump starters, lead-acid portable jump starters often offer a higher cranking power, making them perfect for starting heavier vehicles or engines with high displacement.
By revenue, the automobile industry is the largest stakeholder and is predicted to reach USD 345.6 million by 2025. The development can be linked to the rise in the manufacture of electric vehicles in China, the United States, and India, among other nations. Additionally, multiple steps are being taken by governments in various regions to promote electric vehicles (EVs). For instance, the Chinese government announced plans to invest extensively in electric and hybrid vehicles in December 2017, which will considerably lower pollution levels over the following several years. During the projected period, such initiatives are likely to boost demand for portable jump starters for automotive applications, fueling market expansion.
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Regional Overview
North America is anticipated to have the fastest rate of growth in the market for portable jump starters. The desire for power sources in automobiles and trucks that can generate electricity even when the battery or alternator are not in use can be blamed for the growth, which makes it necessary for people to always carry these gadgets with them. Due to rising disposable income, particularly among middle-class population groups, which will encourage them to purchase expensive goods like Jump Starters, the Asia Pacific market, which was valued at around USD 10 million in 2018, is expected to experience significant growth over the forecast period.
The biggest market share of the total market was held by the Asia-Pacific in the Jump Starter market. it is anticipated that greater government initiatives in significant Asia Pacific nations to expand the automobile industry will raise product demand. Increased production of motorcycles, commercial trucks, and passenger automobiles is anticipated to increase the need for jump starter throughout the forecast period. The demand forecast for the Asia Pacific region indicated an upward trend.
Report Scope
| Base Year | 2021 |
| Forecast period | 2022-2030 |
| Report Coverage | Revenue estimation and forecast, company profile, competitive landscape, growth factors, and recent trends |
| Regional scope | North America, Europe, Asia Pacific, Middle East & Africa, and Latin America |
| Market Size(unit) | USD Billion |
| Jump Starter Market CAGR | 1.2% |
| Segments Covered | By Product By Application |
List of the prominent players in the Global Jump Starter market:
• Anqing Hualan Technology Co., Ltd.
• Schumacher Electric Corporation
• Antigravity Batteries LLC
• Tacklife
• Billet Proof Designs
• The NOCO Company
• PARIS CORPORATION
• Gooloo
• Boltpower
• Clore Automotive
• Others
The global Jump Starter market is segmented as follows:
By Product
• Lithium ion
• Lead acid
By Application
• Automotive
• Motorcycle
• Others
By Region/Geography
• North America
o The U.S.
o Canada
o Mexico
• Europe
o France
o The UK
o Spain
o Germany
o Italy
o Rest of Europe
• Asia Pacific
o China
o Japan
o India
o Australia
o South Korea
o Rest of Asia Pacific
• The Middle East & Africa
o Saudi Arabia
o UAE
o South Africa
o Egypt
o Kuwait
o Rest of the Middle East & Africa
• Latin America
o Brazil
o Argentina
o Rest of Latin America
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About the report:
The global Jump Starter market is analysed based on value (USD Billion). All the segments have been analysed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.
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