Jump Starter Market Size, Share, Growth and Industry Analysis, By Type (Lithium Ion and Lead-Acid), By Application (Automotive, Motorcycle and Others) Covid-19 Impact, Latest Trends, Segmentation, Driving Factors, Restraining Factors, Key Industry Players, Regional Insights, and Forecast To 2031

JUMP STARTER MARKET REPORT OVERVIEW

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The global jump starter market size was USD 331.5 million in 2022 and is projected to touch USD 385.83 million by 2031, exhibiting a CAGR of 1.7% during the forecast period.

A car can be started with a jump start, also known as a boost, when the starting battery has been discharged. A provisional connection is made to another vehicle's battery or another external power source. The disabled vehicle's battery is regenerated by the external power source, which also provides some of the power required to start the engine. The auxiliary source can be withdrawn after the car has been started because its regular charging system will recharge. Normal vehicle driving will restore the battery's charge if the charging system is working properly.

COVID-19 Impact: Travel Restrictions Results in Drop in Demand and Manufacturers Reducing their Production Spendings

The global COVID-19 pandemic has been unprecedented and staggering; with the jump starter market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden spike in CAGR is attributable to demand returning to pre-pandemic levels once the pandemic is over.

By the end of 2020, COVID-19 had a significant negative effect on the auto sector due to the numerous travel restrictions and other lockdown-related restrictions that were put in place worldwide. All areas of the automotive and motorcycle industries, including the producers of jump starters, were affected by the pandemic. Automobile manufacturers concentrated on lowering costs and expenses, and that included reducing production spending, as a result of travel limitations, the economic downturn brought on by the epidemic, and the resulting drop in demand. Jump starter suppliers have to deal with a decline in demand as a result of prolonged halts in the supply network of significant automotive manufacturers.

LATEST TRENDS

"First of its Kind Portable Jump Starter Offers Individuals Wireless Charging and Quick Charge Compatibility "

The Cobra JumPack small, the first portable jump starter with wireless charging and quick charge compatibility, went on sale on October 31, 2018, according to Cobra Electronics, a premier manufacturer and marketer of accolade-winning automotive, mobile, and consumer electronics. The Cobra JumPack mini has wireless charging, which makes it simpler to charge a smartphone, as well as Quick Charge compliant USB and micro USB connections, which charge smartphones up to 78% quicker. Additionally, the Cobra JumPack small can jump starts the majority of cars and trucks having up to 8 cylinder engines.

JUMP STARTER MARKET SEGMENTATION

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• By Type

Based on type, the market is distributed into Lithium Ion and Lead-Acid

• By Application

Based on application, the market is divided into Automotive, Motorcycle and Others.

DRIVING FACTORS

"Rising Population and Economic Expansion has Resulted in Increased Sales of Automobiles "

Over the past few years, the global transportation industry has experienced substantial growth. The requirement of vehicles has increased as a result of the growing population. Increased sales of automobiles and other modes of transportation including boats, two-wheelers, and airplanes are also caused by rising population and economic expansion. Governments around the world are also encouraging the use of alternative fuel cars to lessen their reliance on oil imports. Since they are important drivers of the automobile starting battery industry, they are predicted to boost the jump starter market over the forecast period.

"Growing Utilization of Electric Power as Fuel Instead of Conventional Energy Sources due to their Environmental Friendliness "

Over the past ten years, a new and emerging trend has been the utilization of electric power as a fuel for vehicles. Their rising popularity is being driven by environmental developments and dwindling oil supplies. In addition, electric power is more affordable and environmentally friendly than conventional energy sources, which contributes to a decrease in the co2 emissions that cause global warming. Moreover, it is predicted that the market players would find the technological developments in the area of alternatively powered cars, such as electric vehicles, to be an appealing opportunity. Therefore, the increased demand for car transportation as a result of increased international traffic has contributed to the jump starter market growth and is anticipated to continue doing so over the course of the projected period.

RESTRAINING FACTORS

"Fear of Accidents and the Weight of the Battery can Hinder with the Market Growth "

Due to the weight and size of lithium acid battery jump starters, their customers are mostly repair and maintenance facilities. Additionally, it is advised that jump starting a car be done by a skilled individual or professional as it might result in major accidents. This is predicted to slow down the average purchase of the starters for individual purposes and thus constrain the market's growth to some extent.

JUMP STARTER MARKET REGIONAL INSIGHTS

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"North America to Dominate the Market due to Increase in Demand and Sale of Conventional and Electric Vehicles in the Region"

The jump starter market share is anticipated to be dominated by North America, which is expected to continue to be so throughout the forecast period. This can be credited to the increase in both conventional and electric vehicle sales and demand for automobiles. In addition, the jump starters are becoming a popular choice for usage in North American automobiles due to their improved fuel efficiency and cost savings.

KEY INDUSTRY PLAYERS

"Methods of Organic and Inorganic Strategies Adopted by the Players to Broaden their Customer Bases and Operations"

Many businesses are putting an emphasis on organic growth techniques including product launches, product approvals, and other things like patents and events. Acquisitions, partnerships, and collaborations were some of the inorganic growth strategies used in the market. These actions have made it possible for market participants to grow their consumer bases and operations. The increased demand for jump starters is expected to provide market participants with profitable growth prospects in the future.

List Of Top Jump Starter Companies

• COBRA (India)
• Stanley Black & Decker, Inc (U.S.)
• Benrong Group (China)
• Shenzhen SBASE (China)
• BOLTPOWER (Philippines)
• CARKU (China)
• China AGA (China)
• Newsmy (China)
• Shenzhen NianLun Electronic (China)
• KAYO MAXTAR (China)
• BESTEK (China)

REPORT COVERAGE

This report covers the jump starter market. The CAGR expected to be in during the forecast period, and also the USD value in 2022 and what it is expected to be in 2028. The effect COVID-19 had on the market in the beginning of the pandemic. The latest trends taking place in this industry. The factors that are driving this market as well as the factors that are restraining the growth of industry. The segmentation of this market based on type and applications. The region leading in the industry and why they will continue to do so during the forecast period. Further, the key market players, what all is being done by them to stay ahead of their competition as well as retain their market positions. All these details are covered in the report.