Global Boat Batteries Market size expected to growth at a 6.1% CAGR during Forecast Period: Insights by Reed Intelligence

New York, United States, Sept. 05, 2023 (GLOBE NEWSWIRE) -- Over 50% of the Boat Batteries Market is made up of lead-acid batteries, which are the most popular variety. However, because of their reduced weight, increased lifespan, and higher energy density, lithium-ion batteries are becoming more and more common. AGM batteries and gel batteries are some other varieties of boat batteries.

Application, end-user, and geographic segments are used to categorise the boat battery market. Starting batteries, deep cycle batteries, and trolling batteries are the market segments according to application. Deep cycle batteries are used to power the boat's electrical equipment while starting batteries are utilised to start the motor. Trolling motors are powered by trolling batteries.

The market is divided into leisure boats, commercial boats, and military boats based on end-user. The greatest segment of the market is made up of recreational boats. During the predicted period, commercial boats and military boats are anticipated to grow more quickly.

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Due to rising disposable income levels and the popularity of water activities, the industry is expanding quickly. Boat batteries, which are used to power a range of maritime appliances, lights, and motors, are becoming more and more in demand as a result of this.

Due to its advantages for the environment and cheaper maintenance requirements, electric boats are growing in popularity. This is boosting demand for lithium-ion batteries, which can power electric boats.

The effects of marine pollution on the environment are becoming more widely known. This is encouraging the use of boat batteries that are better for the environment, including lithium-ion batteries.

Report Scope

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The Global Boat Batteries Market is expected to grow significantly in the coming years. The growth of the market is being driven by a number of factors, including the increasing demand for marine leisure activities, the growing adoption of electric boats, and the rising environmental concerns. The market is also expected to benefit from the technological advancements in boat batteries.

Regional Analysis

North America is a significant market for boat batteries due to its significant recreational boating industry and vast boating population. The US and Canada are the two largest markets in this region. The demand for boat batteries in North America is influenced by favorable boating conditions, a rise in interest in outdoor recreational activities, the popularity of boating contests, and water sports.

Europe's top suppliers of boat batteries include Germany, the UK, Italy, and France. Boat batteries are in great demand across the continent. Boating has a long history in Europe, where there are several marinas, lakes, and rivers. The success of this business is influenced by a variety of factors, such as the accessibility of boat suppliers and manufacturers, the popularity of recreational boats, the growing expenses of maritime tourism, and others.

The boat battery market is expanding more quickly in the Asia Pacific area. Market growth is encouraged by Australia, China, Japan, South Korea, and other significant countries. The region's expanding middle class, increasing disposable income, and expanding interest in recreational boating activities are driving the need for boat batteries. The development of marinas, boating infrastructure, and coastal tourism all have an impact on the sector's growth.

Key Highlights For The Boat Batteries Market

• The Boat Batteries Market Size is anticipated expanding at a 6.1% CAGR between 2023 and 2031.
• Over 50% of the market for boat batteries is made up of lead-acid batteries, which are the most popular variety. However, because of their reduced weight, increased lifespan, and higher energy density, lithium-ion batteries are becoming more and more common.
• Application, end-user, and geographic segments are used to categorize the boat battery market. Starting batteries, deep cycle batteries, and trolling batteries are the market segments according to application. Deep cycle batteries are used to power the boat's electrical equipment while starting batteries are utilized to start the motor. Trolling motors are powered by trolling batteries.
• The market is divided into leisure boats, commercial boats, and military boats based on end-user. The greatest segment of the market is made up of recreational boats. During the forecast period, commercial boats and military boats are anticipated to expand more quickly.
• The market is divided into four sections based on geography: North America, Europe, Asia Pacific, and Latin America. The biggest markets for boat batteries are in North America, Europe, and Asia-Pacific. During the projection period, Latin America is anticipated to see the quickest market growth.

Key Players

• Century Yuasa Batteries
• Lifeline Batteries
• Interstate Batteries
• Trojan Battery Company
• EXIDE INDUSTRIES
• Chrome Battery
• MIGHTY MAX BATTERY
• Universal Power Group
• EnerSys

Boat Batteries Market Segmentations

Segmentation By Type

• Cranking or Starting Boat Batteries
• Deep-Cycle Boat Batteries
• Dual Purpose Boat Batteries

Segmentation By Application

• Large Boat
• Small and Medium Boat

Segment by Region

• North America
• Europe
• APAC
• Middle East and Africa
• LATAM

Table of Contents

1. Executive Summary
   1. Introduction
2. Market Introduction
   1. Market Definition
   2. Scope of the Study
   3. Market Structure
3. Research Methodology
   1. Primary Research
   2. Research Methodology
   3. Assumptions & Exclusions
   4. Secondary Data Sources
4. Market Factor Analysis
   1. Value Chain Analysis: Boat Batteries Market
   2. Porters Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of Substitution
      4. Threat of New Entrants
      5. Competitive Rivalry
5. Market Dynamics
   1. Drivers
   2. Restraints
   3. Opportunities
6. Recent Trends Analysis
7. Impact of COVID-19 on Boat Batteries Market
   1. Pre and Post Covid -19 Market Scenario Analysis
   2. Market Recovery Timeline and Challenge
   3. Measures Taken by Top Players
8. Regulatory Landscape
9. Boat Batteries Market, Segmentation By Type
   1. Introduction
      1. Market Size and Forecast, Segmentation By Type
   2. Cranking or Starting Boat Batteries
      1. Market Size and Forecast, By Region
   3. Deep-Cycle Boat Batteries
      1. Market Size and Forecast, By Region
   4. Dual Purpose Boat Batteries
      1. Market Size and Forecast, By Region
10. Boat Batteries Market, Segmentation By Application
    1. Introduction
       1. Market Size and Forecast, Segmentation By Application
    2. Large Boat
       1. Market Size and Forecast, By Region
    3. Small and Medium Boat
       1. Market Size and Forecast, By Region
11. Regional Overview
    1. Introduction
       1. Market Size and Forecast
    2. North America
       1. Market Size and Forecast
          1. Segmentation By Type
             1. Cranking or Starting Boat Batteries
             2. Deep-Cycle Boat Batteries
             3. Dual Purpose Boat Batteries
          2. Segmentation By Application
             1. Large Boat
             2. Small and Medium Boat
       2. U.S.
          1. Segmentation By Type
             1. Cranking or Starting Boat Batteries
             2. Deep-Cycle Boat Batteries
             3. Dual Purpose Boat Batteries
          2. Segmentation By Application
             1. Large Boat
             2. Small and Medium Boat
       3. Canada
    3. Europe
       1. Market Size and Forecast
          1. Segmentation By Type
             1. Cranking or Starting Boat Batteries
             2. Deep-Cycle Boat Batteries
             3. Dual Purpose Boat Batteries
          2. Segmentation By Application
             1. Large Boat
             2. Small and Medium Boat
       2. U.K.
          1. Segmentation By Type
             1. Cranking or Starting Boat Batteries
             2. Deep-Cycle Boat Batteries
             3. Dual Purpose Boat Batteries
          2. Segmentation By Application
             1. Large Boat
             2. Small and Medium Boat
       3. Germany
       4. France
       5. Spain
       6. Italy
       7. Russia
       8. Nordic
       9. Benelux
       10. Rest of Europe
    4. APAC
       1. Market Size and Forecast
          1. Segmentation By Type
             1. Cranking or Starting Boat Batteries
             2. Deep-Cycle Boat Batteries
             3. Dual Purpose Boat Batteries
          2. Segmentation By Application
             1. Large Boat
             2. Small and Medium Boat
       2. China
          1. Segmentation By Type
             1. Cranking or Starting Boat Batteries
             2. Deep-Cycle Boat Batteries
             3. Dual Purpose Boat Batteries
          2. Segmentation By Application
             1. Large Boat
             2. Small and Medium Boat
       3. Korea
       4. Japan
       5. India
       6. Australia
       7. Singapore
       8. Taiwan
       9. South East Asia
       10. Rest of Asia-Pacific
    5. Middle East and Africa
       1. Market Size and Forecast
          1. Segmentation By Type
             1. Cranking or Starting Boat Batteries
             2. Deep-Cycle Boat Batteries
             3. Dual Purpose Boat Batteries
          2. Segmentation By Application
             1. Large Boat
             2. Small and Medium Boat
       2. UAE
          1. Segmentation By Type
             1. Cranking or Starting Boat Batteries
             2. Deep-Cycle Boat Batteries
             3. Dual Purpose Boat Batteries
          2. Segmentation By Application
             1. Large Boat
             2. Small and Medium Boat
       3. Turky
       4. Saudi Arabia
       5. South Africa
       6. Egypt
       7. Nigeria
       8. Rest of MEA
    6. LATAM
       1. Market Size and Forecast
          1. Segmentation By Type
             1. Cranking or Starting Boat Batteries
             2. Deep-Cycle Boat Batteries
             3. Dual Purpose Boat Batteries
          2. Segmentation By Application
             1. Large Boat
             2. Small and Medium Boat
       2. Brazil
          1. Segmentation By Type
             1. Cranking or Starting Boat Batteries
             2. Deep-Cycle Boat Batteries
             3. Dual Purpose Boat Batteries
          2. Segmentation By Application
             1. Large Boat
             2. Small and Medium Boat
       3. Mexico
       4. Argentina
       5. Chile
       6. Colombia
       7. Rest of LATAM
12. Competitive Landscape, 2022
    1. Introduction
    2. Boat Batteries Market Share Analysis, 2022 (%)
       1. Market Share Analysis, 2022
       2. Competition Ranking, 2022
       3. Key Developments & Growth Strategies
          1. Merger & Acquisition
          2. Product Launch
          3. Expansion
       4. Consolidated SWOT Analysis of Key Players
13. Company Profile
    1. Century Yuasa Batteries
       1. Business Overview
       2. Financial Data
       3. Key Product Categories
       4. Recent Developments
    2. Lifeline Batteries
    3. Interstate Batteries
    4. Trojan Battery Company
    5. EXIDE INDUSTRIES
    6. Chrome Battery
    7. MIGHTY MAX BATTERY
    8. Universal Power Group
    9. EnerSys

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