Autonomous Marine Transport (AMT) is the fastest growing segment fueling the growth of the Boat Accumulator Market

 

Boat Accumulator Market

The global Boat Accumulator Market is estimated to be valued at US$ 266.66 Mn in 2023 and is expected to exhibit a CAGR of 2.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

 

Market Overview:

Boat accumulators are storage batteries used to provide electrical power for boat engines, lighting and other onboard electric systems. They play a vital role in boating through ensuring continuous power supply during navigation and operations.

 

Market key trends:

One of the key trends fueling the growth of the boat accumulator market is the growing popularity of water sports and recreational boating activities. According to the National Marine Manufacturers Association (NMMA), boating participation has increased significantly over the past few years, thereby driving the demand for boat accumulators. Furthermore, continual technological advancements in accumulator technology is leading to better performance batteries with higher power capacity and longer service life. Manufacturers are focusing on developing lithium ion and supercapacitor-based accumulators with improved cycle life, faster charging capabilities and reduced maintenance needs. Such technological developments are expected to further aid the market growth over the forecast period.

Segment Analysis

The boat accumulator market is segmented based on voltage range, application, and region. Based on voltage range, the 12V segment dominated the market in 2022 and is expected to continue its dominance over the forecast period. 12V accumulators are widely used in small and medium boats owing to their ability to run basic boat appliances and equipment. Application-wise, engine starting segment held the largest share in 2022 as boat accumulators play a vital role in starting the boat engine. Geographically, Europe held the largest share in the global boat accumulator market owing to the presence of major boat manufacturers and higher consumer demand for luxury boats in countries like Germany, Italy, and France.

 

Key Takeaways

The Global Boat Accumulator Market Size is expected to witness high growth, exhibiting a CAGR of 2.8% over the forecast period, due to increasing leisure boating activities and maritime tourism across the globe.

 

Regional analysis - Europe dominated the boat accumulator market in 2022 and is expected to continue its dominance over the forecast period. Countries like Germany, Italy, and France have strong boating industries and a high number of boats per capita driving the demand for boat accumulators.

 

Key players analysis - Key players operating in the boat accumulator market are East Penn Manufacturing Co. Inc., Exide Technologies, Johnson Controls International plc, MasterVolt BV, Optima Batteries Inc., Saft Groupe SA, Trojan Battery Company, Varta AG, Vetus BV, Victron Energy BV, Yuasa Battery Inc., Leoch Battery Corporation, MK Battery, NorthStar Battery Company, Rolls Battery Engineering. East Penn Manufacturing Co. Inc. and Exide Technologies are recognized as the market leaders owing to their extensive product portfolio and global distribution network.

Read more

https://www.dailyprbulletin.com/boat-accumulator-market-size-share-growth-outlook-2023/

Comments

Post a Comment

Popular posts from this blog

Uninterruptible Power Supply Market Poised for Significant Growth Accelerated by Adoption of Renewable Energy Sources

Image
  Uninterruptible Power Supply Market  An uninterruptible power supply (UPS) is a power supply system designed to provide emergency power to a load when the input power source fails. UPS systems provide transient voltage protection from power surges and spikes and consistent power even under brownout conditions. They are most commonly used in data centers, telecommunication systems, medical equipment, industrial processes that require continuous operation, and other critical applications where power disruptions cannot be tolerated. The global uninterruptible power supply market is estimated to be valued at US$ 9.95 Bn in 2023 and is expected to exhibit a CAGR of 13% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.   Market Dynamics: The uninterruptible power supply market is expected to witness significant growth over the forecast period. This is mainly attributed to the rising focus on improving power reliability acro
Read more

Yacht Charter Market is Estimated to Witness High Growth Owing to Opportunity of Increasing Recreational Boating

Image
  Yacht Charter Market Yacht charter is the business of renting or leasing yachts and sailing boats for pleasure and touring. Yachts are primarily used for entertainment of guests, luxury experience, and recreational enjoyment. Large yachts come equipped with various amenities such as ocean-view staterooms, gourmet galley kitchens, lavish lounges and sundecks. Some of the popular uses include dinners, parties, family trips, weekend getaways, and corporate events. The global yacht charter market is estimated to be valued at US$ 68809.83 Bn in 2024 and is expected to exhibit a CAGR of 18% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.   Market Dynamics: The global yacht charter market is witnessing high growth owing to the rising popularity of luxury yachts among high-net-worth individuals as a preferred leisure activity. Yacht charters allow individuals to experience the luxury lifestyle without the steep costs associ
Read more

The Global Switchgear Market Growth Accelerated By Increased Demand For Switchgear From Renewable Energy Sector

Image
Switchgear Market   Switchgear equipment are devices consisting of circuit breakers, fuses or any other associated equipment used for operating, isolating, protecting and managing electricity distribution in an electrical power system. These equipment are used in transmission and distribution systems to control the flow of power and limit electrical currents. They protect circuits and equipment in the system by limiting electrical currents to safe levels in the event of a short circuit or any sudden overloading. The growing demand for ensured power supply across manufacturing industries and commercial spaces has been driving increased adoption of switchgear.   The global switchgear market is estimated to be valued at US$ 127.13 Mn in 2024 and is expected to exhibit a CAGR of 4.4% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.   Market Dynamics: One of the key drivers for the growth of the switchgear market has be
Read more