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

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.

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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. 

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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.

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Segment Overview 

This marine powerboats batteries market report extensively covers market segmentation by

1. Battery Type
• 1.1 Lithium-ion
• 1.2 Absorbent glass mat
• 1.3 Lead-acid
2. Application 
• 2.1 Outboard
• 2.2 Sterndrive
• 2.3 Inboard
3. 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.

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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: [email protected]
Website: www.technavio.com/

SOURCE Technavio

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