Industry Background:
Marine Powerboat Battery is one of the primary components required for the proper functioning of the marine powerboat battery. The central objective of the marine powerboat battery is to aid in the ignition of the powerboat engine. Electrical components such as control panels, lighting, and marine fuse blocks are also powered by the marine powerboat batteries. The majority of powerboat batteries on the market today have a short lifetime and a significant charge period. The global increase in the maritime trade as well as surge in marine tourism and travel has accelerated the growth of the marine powerboat battery market. Increasing popularity of the water sports too has been vital in the expansion of the marine powerboat battery market. North America is expected to emerge as the leading market followed by Asia Pacific region.This growth is primarily driven by Rise of Global Maritime Trade, Travel and Tourism
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Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
Forecast Period | -2027 |
Volume Unit | N |
Value Unit | Value (USD Million) |
Key Companies in Study | East Penn Manufacturing Company (United States), Staab Battery Manufacturing Co. (United States), Exide Technologies (United States), Battery Supplies (Belgium), Saft Groupe S.A. (France), Johnson Controls International (Ireland), Shield Batteries Limited (United Kingdom), Manbat Limited (United Kingdom), GS Yuasa International Ltd. (Japan) and Leoch International Technology Limited Inc. (China) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Globally, a noticeable market trend is evident Lead Acid are Mostly Preferred for Medium and Cheaper Vessels due to its Lower Costs Compared to Lithium Ion Batteries. Major Manufacturers, such as East Penn Manufacturing Company (United States), Staab Battery Manufacturing Co. (United States), Exide Technologies (United States), Battery Supplies (Belgium), Saft Groupe S.A. (France), Johnson Controls International (Ireland), Shield Batteries Limited (United Kingdom), Manbat Limited (United Kingdom), GS Yuasa International Ltd. (Japan) and Leoch International Technology Limited Inc. (China) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
In 2020, GS Yuasa International Ltd., a Japan based manufacturer of lead acid and lithium ion batteries has announced expansion of production of its lithium ion batteries primarily deployed in the hybrid vehicles. The transition to electric cars is being advocated as a means of reducing environmental impact. Hybrid cars provide a great combination of environmental performance and cost, and production is projected to rise, especially among automakers worldwide.
In 2020, Corvus Energy, a Norway based one of the world's leading supplier of safe, innovative and reliable energy storage solutions has announced signinig of a contract depicting that Corvus has been selected for supply of Lithium Ion battery-based energy storage system (ESS) by Westcon Power & Automation. The close partnership of both the entities will lead to accelerated adoption of energy storage systems.
Market Drivers
- Rise of Global Maritime Trade, Travel and Tourism
- Growing Popularity of the Water Sports specifically Leisure Vessels
Market Trend
- Lead Acid are Mostly Preferred for Medium and Cheaper Vessels due to its Lower Costs Compared to Lithium Ion Batteries
Restraints
- Comparatively Less Innovation in the Marine Battery Technology compared to Car Batteries
Opportunities
Lithium Ion Based Battery Segment is expected to Rise in Popularity and Increasing Demand of the Dual-Purpose Batteries in Marine Industry
Challenges
Emergence of New Type of Battery Technology May Disrupt the Market of Marine Powerboat Battery
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Manufacturers landscape impacting the growth of the market. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Marine Powerboat Battery Study Sheds Light on
The Marine Powerboat Battery Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Marine Powerboat Battery industry Manufacturers. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Marine Powerboat Battery industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey, and interviews with key executives and industry experts.
How every company in this diverse set of Manufacturers can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.