The Global Boat Accumulator Market Growth Is Accelerated By Increasing Consumer Spending

 

Boat accumulators or batteries are sealed lead acid batteries that provide starting power and deep cycle power for boats. They are essential for powering marine electrical systems, motors, navigation lights, bilge pumps and other onboard appliances. The growing marine tourism and recreational boating activities have increased the demand for boats and yachts over the years. This has propelled the 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 2023-2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

Increasing consumer spending on recreational boating activities has been a major driver for the boat accumulator market over the past decade. The number of recreational boats sold globally has increased steadily with the rise in disposable incomes and leisure time among consumers. Countries like the United States, United Kingdom, Germany, Italy, Australia, and Japan have witnessed significant growth in consumer spending on boating as a leisure and recreational activity. This has boosted the demand for boat accumulators globally. In addition, the growing demand for electric and hybrid boats is expected to present new opportunities for the market players over the forecast period.

Segment Analysis

The Global Boat Accumulator Market Size is dominated by the flooded segment. The flooded type accumulators are preferred over the AGM and gel type accumulators as they offer higher reserve capacity, low self-discharge rate, and cost efficiency. Their efficient performance makes them suitable for applications requiring frequent charge and discharge cycles like engine starting.

Key Takeaways

The global boat accumulator market is expected to witness high growth over the forecast period.
Regional analysis:
The Asia Pacific region is expected to grow at the fastest pace in the boat accumulator market during the forecast period. The growth in the region can be attributed to the presence of countries like China, Japan, and India having a large coastline and growing boating industry. Countries like China and Japan also have the presence of key accumulator manufacturers catering to the regional demand.

Key players:
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.

Get More Insights On This Topic: https://www.newsstatix.com/boat-accumulator-market-size-share-analysis-2023-2030/


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