The global jump starter market is expected to display higher growth rate over the upcoming years. Rapid surge in the market is credited to the rising demand from automotive sector and increasing number of vehicle sales. Jump starters are typically used for lithium ion and lithium acid battery types. Vehicle jump starter are frequently required in bad weather conditions or instances where the driver or passenger is in a stranded area. Vehicle jump starter assists in recharging the battery, by giving a boost to the battery. Globally, market is predicted to generate massive revenue over forecast period, providing numerous opportunities for industry participants to invest in research and development of jump starters.
Rise in the number of vehicle sales is the key market trend associated with jump starter market over the forecast period. Typical application of automobiles boosts a discharged or dead battery through a transient connection. The jump starter is connected to an external power source via transient connection. Additionally, jump starters also offer several advantages for lithium ion and lithium acid batteries such as safety against current overload, reverse connection and overcharging. These factors are expected to boost market demand for jump starter over the coming years.
Development of light weight, compact and easy to use jump starters is anticipated to foster the growth of jump starter market over the next seven years. The jump starter comes with two distinct types such as jump boxes and plug-in units. Furthermore, based on output voltage jump starters are separated into three categories such as below 12 Volts, between 12 Volts and 24 Volts, and above 24 Volts.
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The market is broadly categorized into major segments based on the application type such as residential sector, automotive industry, mechanic workshops application, industrial application and marine application. Automotive segment is growing rapidly in the jump starter industry with substantial revenue generation in the last few years. Growing popularity of jump starter in automotive segment is attributed to the rising number of vehicle sales and growing production lines.
The market is divided by region as North America, Europe, Asia-Pacific, Latin America and Africa. North America has shown major growth in recent years owing to the rise in implementation of latest technologies in automotive sector, surge in number of research & development activities and existence of well-established manufacturing infrastructure in the region. In European region, Germany, France, and United Kingdom are projected to witness steady growth.
Asia-Pacific region is estimated to hold a major share in the jump starter market with massive growth in forecast period. Countries such as India, China and Singapore are leading the Asia-Pacific market with strong economic growth, rising number of vehicle sales, rising demand from upstream & downstream sector, and significant investment by leading industry players considering potential growth opportunities in the region.
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