Review & Updates of Jump Starter Market Trends and Its Development
Jump starter is a device used for charging a dead battery of a car, without depending on any other vehicle. A jump starter could act as a lifesaver for someone stranded on the road with a dead car battery, or in case of really bad weather by supplying power to the car’s battery. Once the car starts, the battery of the car will be charged and the jump starter can be removed. That is, only if the battery of the car is functional, the charge will be restored. A jump starter generally consists of lithium-ion and lithium acid batteries.
Let’s have a look at what’s trending in the jump starter market.
• Jump starter market is highly fragmented:
There are numerous local manufacturers of vehicle jump starters, thus making the global jump starter market highly fragmented.
• Growth in sales of automobiles:
The growth in the sales of automobiles results in the growth in the sales of jump starters. There has been major growth in the sales of automobiles, especially in China which is expected to grow further in the coming years, followed by North America. Germany and Russia are expected to witness a rise in the sales of automobiles, leading to a growth in the sales of jump starters.
• The anticipated rise in demand for jump starter packs:
The jump starter packs market is expected to see a rapidly growing demand in the coming years and the market players of the automotive industry are expected to witness lucrative opportunities.
• Lithium acid jump starters are not expected to be in demand:
Since lithium acid jump starters are heavy and huge, they are not preferred by the car users, though they come with additional benefits like safety features against current overload, overcharging and reverse connection.
• Jump starters power banks that have advanced safety features is expected to witness high growth:
Safety instructions usually suggest that the jump starters are to be used by the professionals or people with experience in order to avoid accidents. This is a hindrance to the growth of the jump starter market. However, with the advent of lithium-ion batteries that are lightweight, smaller sized and that can be easily carried around, the jump starter market is expected to witness high growth in the coming years. Moreover, these lithium-ion batteries have built-in advanced safety features.
• The key market player companies are highly investing in organic growth strategies:
The major companies in the jump starter market are shifting from inorganic growth strategies like collaborations, acquisitions, and partnerships to organic growth strategies such as product launches, product approvals, patents, and events.
• Increase in aging vehicles:
It is estimated that the number of aging vehicles would keep rising in the coming years. This would automatically lead to a growing demand for portable jump starters that the customers would like to carry around along with the car as a preparation for emergency situation.
• Rising cases of accidental battery discharge:
There has been an increase in the number of accidental battery discharge cases and this is expected to grow in the coming years. This will give rise to an increase in the demand for jump starters.
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