NEW
YORK, June 18, 2024 /PRNewswire/ -- The global
marine powerboats batteries market size is estimated to grow by
USD 1.81 million from 2024-2028,
according to Technavio. The market is estimated to grow at a CAGR
of 8.09% during the forecast period. Rising
demand for recreational boating is driving market
growth, with a trend towards emergence of AGM batteries.
However, hazards of lithium-ion-powered batteries poses a
challenge. Key market players include Brunswick Corp., C and D
Technologies Inc., CLARIOS LLC, Corvus Energy, East Penn
Manufacturing Co. Inc., Electric Fuel, Energy Solutions UK Ltd.,
EnerSys, Exide Technologies, GS Yuasa International Ltd., Guang
Dong Fullriver Industry Co. Ltd., Johnson Controls International
Plc., JYC Battery Manufacturer Co. Ltd., Kabra Extrusion
Technik Ltd., Lifeline Batteries Inc., SEC Group, Staab
Battery Manufacturing Co. Inc., Surrette Battery Co. Ltd.,
TotalEnergies SE, and Victron Energy BV.
Get a detailed analysis on regions, market
segments, customer landscape, and companies - Click for the
snapshot of this report
Forecast
period
|
2024-2028
|
Base Year
|
2023
|
Historic
Data
|
2018 - 2022
|
Segment
Covered
|
Battery Type
(Lithium-ion, Absorbent glass mat, and Lead-acid), Application
(Outboard, Sterndrive, and Inboard), and Geography (North America,
Europe, APAC, South America, and Middle East and Africa)
|
Region
Covered
|
North America, Europe,
APAC, South America, and Middle East and Africa
|
Key companies
profiled
|
Brunswick Corp., C and
D Technologies Inc., CLARIOS LLC, Corvus Energy, East Penn
Manufacturing Co. Inc., Electric Fuel, Energy Solutions UK Ltd.,
EnerSys, Exide Technologies, GS Yuasa International Ltd., Guang
Dong Fullriver Industry Co. Ltd., Johnson Controls International
Plc., JYC Battery Manufacturer Co. Ltd., Kabra Extrusion
Technik Ltd., Lifeline Batteries Inc., SEC Group, Staab
Battery Manufacturing Co. Inc., Surrette Battery Co. Ltd.,
TotalEnergies SE, and Victron Energy BV
|
Key Market Trends Fueling Growth
Marine powerboats require reliable batteries for engine starting
and electrical power. Lead-acid batteries are cost-effective but
require frequent maintenance and have a shorter lifespan.
Lithium-ion batteries offer longer life and are maintenance-free
but are volatile and expensive. Absorbed Glass Mat (AGM) batteries,
an alternative, are spill-proof, longer-lasting, and less expensive
than lithium-ion batteries. The emergence of AGM batteries will
drive growth in the marine powerboats batteries market.
The marine powerboats battery market is experiencing significant
growth due to the increasing demand for efficient and reliable
power sources. The use of advanced technologies such as lithium-ion
batteries is becoming more common in this industry. These batteries
offer longer runtimes, faster charging times, and improved safety
compared to traditional lead-acid batteries. Additionally, the
trend towards larger and more complex marine systems is driving up
battery capacity requirements. Furthermore, regulations mandating
the use of cleaner and quieter power sources are also boosting the
market. Overall, the marine powerboats battery market is expected
to continue growing in the coming years.
Research report provides comprehensive data on
impact of trend. For more details- Download a Sample
Report
Market Challenges
- The marine powerboats batteries market is driven by the
adoption of lightweight lithium-ion batteries in high-performance
boats. Emirates New Zealand's use
of Mastervolt MLI 24/160 batteries offers significant weight
reduction and improved power capabilities. However, the volatile
nature of lithium-ion batteries poses a fire hazard risk,
particularly during heavy engine loads. OEMs have addressed this
issue in the automotive sector through product recalls. Yet, the
marine industry has yet to fully address this concern, which may
hinder market growth during the forecast period.
- The Marine Powerboats Batteries market faces several
challenges. One major challenge is the need for long-lasting and
high-performance batteries to power these vessels. The use of
advanced technologies like lithium-ion batteries is increasing, but
their high cost and safety concerns remain. Another challenge is
the growing demand for eco-friendly batteries, as marine powerboats
contribute significantly to carbon emissions. The complexities of
marine environments, such as extreme temperatures and saltwater
corrosion, also pose challenges for battery manufacturers.
Additionally, regulatory requirements for safety and environmental
standards add to the market's complexity. Overall, the Marine
Powerboats Batteries market requires innovative solutions to
address these challenges and meet the evolving needs of the
industry.
For more insights on driver and
challenges - Download a Sample Report
Segment Overview
This marine powerboats batteries market report extensively
covers market segmentation by
- Battery Type
- 1.1 Lithium-ion
- 1.2 Absorbent glass mat
- 1.3 Lead-acid
- Application
- 2.1 Outboard
- 2.2 Sterndrive
- 2.3 Inboard
- Geography
- 3.1 North America
- 3.2 Europe
- 3.3 APAC
- 3.4 South America
- 3.5 Middle East and
Africa
1.1 Lithium-ion- Lithium-ion batteries offer
several advantages for marine powerboats, including lighter weight,
smaller size, faster charging, longer cycle life, and higher power
output. These benefits lead to improved boat performance, such as
increased speed, better fuel efficiency, and enhanced handling
characteristics. The global marine powerboats batteries market is
expected to grow due to the rising adoption of lithium-ion
batteries, which provide a more compact and efficient energy
storage solution.
For more information on market segmentation with geographical
analysis including forecast (2024-2028) and historic data (2018 -
2022) - Download a Sample Report
Research Analysis
The Marine Powerboats Batteries Market encompasses the
production, consumption, and sale of electrical devices that
convert chemical energy into electrical energy for marine
applications. These batteries are subjected to various conditions,
including vibration, shock, tilt, sway, and ambient temperature,
which necessitate their robust design for use in harsh marine
environments. Core manufacturers produce batteries for various
sectors, such as maritime trade volumes, commercial vessels, and
water sports, catering to leisure activities and marine freight
transportation. Electric propulsion systems, driven by the
increasing demand for lightweight and efficient solutions, are a
significant growth area for this market. Quantitative analysis of
market trends can be obtained from sources like Eurostat and Vision
Marine, providing insights into the evolving landscape of the
Marine Powerboats Batteries Market.
Market Research Overview
The Marine Powerboats Batteries market encompasses the
production, supply, and usage of batteries specifically designed
for powering marine powerboats. These batteries are essential for
starting the engine and providing power for onboard systems and
appliances. The market is driven by the increasing demand for
recreational boating and commercial marine applications. The
batteries used in marine powerboats must meet specific
requirements, such as being resistant to corrosion, able to
withstand extreme temperatures, and providing high power output.
The market for marine powerboats batteries is expected to grow due
to the rising popularity of electric and hybrid marine powerboats,
which require large battery capacity. The market also faces
challenges such as the high cost of lithium-ion batteries and the
need for safe disposal of used batteries. The market for marine
powerboats batteries is a dynamic and evolving industry, with
ongoing research and development focused on improving battery
technology and increasing efficiency.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Battery Type
-
- Lithium-ion
- Absorbent Glass Mat
- Lead-acid
- Application
-
- Outboard
- Sterndrive
- Inboard
- Geography
-
- North America
- Europe
- APAC
- South America
- Middle East And Africa
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
View original content to download
multimedia:https://www.prnewswire.com/news-releases/marine-powerboats-batteries-market-size-is-set-to-grow-by-usd-1-81-billion-from-2024-2028--rising-demand-for-recreational-boating-to-boost-the-market-growth-technavio-302175315.html
SOURCE Technavio