Over 50% of the market for boat batteries is made up of lead-acid batteries, which are the most popular variety. Key Highlights For The Boat Batteries Market The development of marinas, boating infrastructure, and coastal tourism all have an impact on the sector's growth. The region's expanding middle class, increasing disposable income, and expanding interest in recreational boating activities are driving the need for boat batteries. Market growth is encouraged by Australia, China, Japan, South Korea, and other significant countries. The boat battery market is expanding more quickly in the Asia Pacific area. 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. Boating has a long history in Europe, where there are several marinas, lakes, and rivers. Boat batteries are in great demand across the continent. 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.Įurope's top suppliers of boat batteries include Germany, the UK, Italy, and France. The US and Canada are the two largest markets in this region. North America is a significant market for boat batteriesĭue to its significant recreational boating industry and vast boating population. The market is also expected to benefit from the technological advancements in boat batteries. 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. Increasing Demand For Marine Leisure Activitiesįull Global Boat Batteries Market is expected to grow significantly in the coming years. Revenue Forecast, Competitive Landscape, Growth Factors, Environment & Regulatory Landscape and Trends This is encouraging the use of boat batteries that are better for the environment, including lithium-ion batteries. The effects of marine pollution on the environment are becoming more widely known. This is boosting demand for lithium-ion batteries, which can power electric boats. 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.ĭue to its advantages for the environment and cheaper maintenance requirements, electric boats are growing in popularity. Get Sample Report PDF to rising disposable income levels and the popularity of water activities, the industry is expanding quickly. During the predicted period, commercial boats and military boats are anticipated to grow more quickly. The greatest segment of the market is made up of recreational boats. The market is divided into leisure boats, commercial boats, and military boats based on end-user. Trolling motors are powered by trolling batteries. Deep cycle batteries are used to power the boat's electrical equipment while starting batteries are utilised to start the motor. Starting batteries, deep cycle batteries, and trolling batteries are the market segments according to application. AGM batteries and gel batteries are some other varieties of boat batteries.Īpplication, end-user, and geographic segments are used to categorise the boat battery market. However, because of their reduced weight, increased lifespan, and higher energy density, lithium-ion batteries are becoming more and more common. Is made up of lead-acid batteries, which are the most popular variety. 05, 2023 (GLOBE NEWSWIRE) - Over 50% of the
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