Market Overview:
The global marine and boat battery market is expected to grow at a CAGR of 5.5% from 2018 to 2030. The growth in the market can be attributed to the increasing demand for electric boats and rising awareness about the benefits of using electric boats over traditional boats. Additionally, the increasing demand for hybrid and electric vehicles is also propelling the growth of this market. Lead-acid batteries are expected to dominate the marine and boat battery market during the forecast period owing to their low cost as compared to other types of batteries such as lithium ion batteries and fuel cells. However, lithium ion batteries are expected to grow at a higher CAGR during the forecast period due their high energy density, which makes them suitable for use in small vessels such as yachts and sailboats.
Product Definition:
A marine battery is a type of lead-acid battery specifically designed for use in boats. Marine batteries are often used to start boat engines and to power on-board electronics. They are typically more expensive than automotive batteries, but they offer greater capacity and durability. Boat owners should always consult their battery manufacturer's recommendations for the correct type of battery to use in their vessel.
Lead-acid:
Lead-acid is the most common type of battery. It has a lead (Pb) anode and a zinc (Zn) cathode.
When assembled, these components react with each other to produce electricity and heat; when used in batteries, they provide energy for electronic devices such as flashlights or smartphones.
Lithium:
Lithium is a light, silver-white metal that is produced in several ways. Lithium occurs naturally as well as can be manufactured by the electrolysis of lithium hydroxide (LiOH) which is found in mines including the brine at salt flats of Nevada and California. Lithium used for energy storage has been observed to have 80% less carbon footprint than lead acid batteries and 70% less water usage when compared to fuel cells.
Application Insights:
OEMs generate higher revenues as they have direct control over price, quality and specifications of the product. OEMs use marine batteries for applications such as lighting, electrical equipment and ignition in boats. The growing importance of these applications is expected to drive the demand for marine batteries during the forecast period.
The aftermarket segment is anticipated to witness significant growth over the forecast period owing to rising disposable income among consumers, coupled with a rise in recreational activities such as deep-sea fishing and hunting trips that require boats equipped with battery-operated lights, electronics equipment and navigation systems. Rising disposable income has enabled consumers to spend more on recreational activities without affecting their overall standard of living which is likely to propel demand from this segment over the next eight years or so.
Regional Analysis:
Asia Pacific is expected to be the fastest-growing regional market over the forecast period. The growth can be attributed to rising disposable income, increasing adoption of marine and recreational activities, and growing government initiatives for developing renewable energy sources in countries such as China and India. For instance, in September 2016, China’s State Power Investment Corporation (SPIC) announced funding worth USD X million for a project that involved installation of a large-scale battery storage system at Jiajiale city power station in Hebei province. This initiative was taken to increase the efficiency of power generation from coal based plants using water as an alternative source of energy.
Europe accounted for more than 25% share in global revenue owing to high demand from end-use industries such as marine transportation and leisure fishing boats across major European countries including Germany, France Italy Russia Spain U K.
Growth Factors:
- Increasing demand for electric boats and marine vessels
- Rising popularity of hybrid and all-electric boats
- Proliferation of leisure boating and sailing activities
- Growing awareness about the benefits of using marine batteries
- Technological advancements in battery design and manufacturing
Scope Of The Report
Report Attributes
Report Details
Report Title
Marine and Boat Battery Market Research Report
By Type
Lead-acid, Lithium, Fuel Cell
By Application
OEM, Aftermarket
By Companies
Corvus Energy (Canada), Akasol AG (Germany), EST-Floattech (Netherlands), Siemens (Germany), Spear Power Systems (US), Echandia Marine (Sweden), Sterling PBES Energy Solutions (Canada), Furukawa Battery Solutions (Japan), Lithium Werks (Netherlands), Exide Technologies (US), Craftsman Marine (Netherlands), PowerTech Systems (France), Kokam Co. Ltd. (South Korea), Toshiba Corporation (Japan), XALT Energy (US), EverExceed Industrial Co. Ltd. (China), U.S. Battery (US), Lifeline Batteries (US), Saft (France), Forsee Power (France), Leclanché (Switzerland)
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
156
Number of Tables & Figures
110
Customization Available
Yes, the report can be customized as per your need.
Global Marine and Boat Battery Market Report Segments:
The global Marine and Boat Battery market is segmented on the basis of:
Types
Lead-acid, Lithium, Fuel Cell
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
OEM, Aftermarket
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Corvus Energy (Canada)
- Akasol AG (Germany)
- EST-Floattech (Netherlands)
- Siemens (Germany)
- Spear Power Systems (US)
- Echandia Marine (Sweden)
- Sterling PBES Energy Solutions (Canada)
- Furukawa Battery Solutions (Japan)
- Lithium Werks (Netherlands)
- Exide Technologies (US)
- Craftsman Marine (Netherlands)
- PowerTech Systems (France)
- Kokam Co. Ltd. (South Korea)
- Toshiba Corporation (Japan)
- XALT Energy (US)
- EverExceed Industrial Co. Ltd. (China)
- U.S. Battery (US)
- Lifeline Batteries (US)
- Saft (France)
- Forsee Power (France)
- Leclanché (Switzerland)
Highlights of The Marine and Boat Battery Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Lead-acid
- Lithium
- Fuel Cell
- By Application:
- OEM
- Aftermarket
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Marine and Boat Battery Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
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- Consumer Insights
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- Product & Brand Management
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- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
A marine and boat battery is a type of battery that is used in marine applications. These batteries are designed to be waterproof and resistant to the elements. They are also typically smaller than traditional batteries, making them more convenient for use in small spaces.
Some of the major players in the marine and boat battery market are Corvus Energy (Canada), Akasol AG (Germany), EST-Floattech (Netherlands), Siemens (Germany), Spear Power Systems (US), Echandia Marine (Sweden), Sterling PBES Energy Solutions (Canada), Furukawa Battery Solutions (Japan), Lithium Werks (Netherlands), Exide Technologies (US), Craftsman Marine (Netherlands), PowerTech Systems (France), Kokam Co. Ltd. (South Korea), Toshiba Corporation (Japan), XALT Energy (US), EverExceed Industrial Co. Ltd. (China), U.S. Battery (US), Lifeline Batteries (US), Saft (France), Forsee Power (France), Leclanch© (Switzerland).
The marine and boat battery market is expected to grow at a compound annual growth rate of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Marine and Boat Battery Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Marine and Boat Battery Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Marine and Boat Battery Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Marine and Boat Battery Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Marine and Boat Battery Market Size & Forecast, 2018-2028
4.5.1 Marine and Boat Battery Market Size and Y-o-Y Growth
4.5.2 Marine and Boat Battery Market Absolute $ Opportunity
Chapter 5 Global Marine and Boat Battery Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Marine and Boat Battery Market Size Forecast by Type
5.2.1 Lead-acid
5.2.2 Lithium
5.2.3 Fuel Cell
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Marine and Boat Battery Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Marine and Boat Battery Market Size Forecast by Applications
6.2.1 OEM
6.2.2 Aftermarket
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Marine and Boat Battery Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Marine and Boat Battery Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Marine and Boat Battery Analysis and Forecast
9.1 Introduction
9.2 North America Marine and Boat Battery Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Marine and Boat Battery Market Size Forecast by Type
9.6.1 Lead-acid
9.6.2 Lithium
9.6.3 Fuel Cell
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Marine and Boat Battery Market Size Forecast by Applications
9.10.1 OEM
9.10.2 Aftermarket
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Marine and Boat Battery Analysis and Forecast
10.1 Introduction
10.2 Europe Marine and Boat Battery Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Marine and Boat Battery Market Size Forecast by Type
10.6.1 Lead-acid
10.6.2 Lithium
10.6.3 Fuel Cell
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Marine and Boat Battery Market Size Forecast by Applications
10.10.1 OEM
10.10.2 Aftermarket
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Marine and Boat Battery Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Marine and Boat Battery Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Marine and Boat Battery Market Size Forecast by Type
11.6.1 Lead-acid
11.6.2 Lithium
11.6.3 Fuel Cell
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Marine and Boat Battery Market Size Forecast by Applications
11.10.1 OEM
11.10.2 Aftermarket
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Marine and Boat Battery Analysis and Forecast
12.1 Introduction
12.2 Latin America Marine and Boat Battery Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Marine and Boat Battery Market Size Forecast by Type
12.6.1 Lead-acid
12.6.2 Lithium
12.6.3 Fuel Cell
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Marine and Boat Battery Market Size Forecast by Applications
12.10.1 OEM
12.10.2 Aftermarket
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Marine and Boat Battery Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Marine and Boat Battery Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Marine and Boat Battery Market Size Forecast by Type
13.6.1 Lead-acid
13.6.2 Lithium
13.6.3 Fuel Cell
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Marine and Boat Battery Market Size Forecast by Applications
13.10.1 OEM
13.10.2 Aftermarket
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Marine and Boat Battery Market: Competitive Dashboard
14.2 Global Marine and Boat Battery Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Corvus Energy (Canada)
14.3.2 Akasol AG (Germany)
14.3.3 EST-Floattech (Netherlands)
14.3.4 Siemens (Germany)
14.3.5 Spear Power Systems (US)
14.3.6 Echandia Marine (Sweden)
14.3.7 Sterling PBES Energy Solutions (Canada)
14.3.8 Furukawa Battery Solutions (Japan)
14.3.9 Lithium Werks (Netherlands)
14.3.10 Exide Technologies (US)
14.3.11 Craftsman Marine (Netherlands)
14.3.12 PowerTech Systems (France)
14.3.13 Kokam Co. Ltd. (South Korea)
14.3.14 Toshiba Corporation (Japan)
14.3.15 XALT Energy (US)
14.3.16 EverExceed Industrial Co. Ltd. (China)
14.3.17 U.S. Battery (US)
14.3.18 Lifeline Batteries (US)
14.3.19 Saft (France)
14.3.20 Forsee Power (France)
14.3.21 Leclanché (Switzerland)
