About Marine Powerboat Battery
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.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
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) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research coverage are Trojan Battery Company (United States), Victron Energy B.V. (Netherlands) and Fullriver Battery (China).
Segmentation Overview
AMA Research has segmented the market of Global Marine Powerboat Battery market by Type (Lithium-Ion, AGM and Lead-Acid) and Region.
On the basis of geography, the market of Marine Powerboat Battery has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Engine Type, the sub-segment i.e. Inboard will boost the Marine Powerboat Battery market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Power Source, the sub-segment i.e. Less than 20V will boost the Marine Powerboat Battery market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Distribution Channel, the sub-segment i.e. Direct will boost the Marine Powerboat Battery market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Boat Type, the sub-segment i.e. On-Water Commercial will boost the Marine Powerboat Battery market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Lead Acid are Mostly Preferred for Medium and Cheaper Vessels due to its Lower Costs Compared to Lithium Ion Batteries
Market Growth Drivers:
Rise of Global Maritime Trade, Travel and Tourism and Growing Popularity of the Water Sports specifically Leisure Vessels
Challenges:
Emergence of New Type of Battery Technology May Disrupt the Market of Marine Powerboat Battery
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
Market Leaders and their expansionary development strategies
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.
Key Target Audience
Marine Powerboat Battery Manufacturers, Suppliers and Distributors, Raw Material Suppliers, New Entrants/Investors, Venture Capitalists and Private Equity Firms, Government Regulatory and Research Organizations and End-Use Industries
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.