Transparency Market Research, New York: The global marine powerboat battery market was valued at US$ 150 Mn in 2019 and is anticipated to expand at a CAGR of ~8% during the forecast period. Based on battery type, the absorbent glass mat segment held a prominent share of the global marine powerboat battery market in 2019, as absorbent glass mat batteries tend to charge more quickly and hold longer than lead-acid batteries. In terms of power rating, the above 20 V segment accounted for a major share of the global marine powerboat battery market in 2019. Above 20V batteries are largely employed in marine powerboats to power electronic devices. Based on vessel type, the cruiser segment constituted significant share of the global marine powerboat battery market in 2019. The demand for cruiser powerboat is high, as it offers variety of onboard activities and is available in different types of sizes and shapes.
Request for Covid-19 Impact Analysis on Marine Powerboat Battery Market: https://www.transparencymarketresearch.com/Covid19.php
Key Drivers of Marine Powerboat Battery Market
Household income as well as disposable income of consumers have increased significantly across the globe due to rapid industrialization and urbanization. Tourism, recreation, and leisure activities have risen substantially in North America and Europe. The global tourism industry has been transforming, with increasing popularity of marine and coastal tourism activities. The number of boat shows has increased in the last two years. These shows are sponsored by boat manufacturers, leading beverage manufacturers, and adventure sports clubs. Large numbers of tourists are participating in luxury boating activities, especially in Europe and North America. According to the National Marine Manufacturers Association of the U.S., the unit sales of powerboats rose by 4.0%, i.e. approximately 280,000 units, in 2019. Furthermore, the recreational boating industry contributes more than US$ 170 Bn to economic growth in the U.S.
Download PDF Brochure – https://www.transparencymarketresearch.com/sample/sample.php
Governments across the globe are promoting sea tourism. Countries with rich natural resources, such as vast coastlines and large inland water bodies, are undertaking initiatives to promote recreational boating activities. North America and Europe have a long coastline, coupled with highly developed infrastructure. As a result, these regions are able to attract large numbers of tourists for leisure boating activities. Thus, increase in spending on recreation and leisure activities is estimated to boost the powerboat market, thereby propelling the demand for marine powerboat battery in the near future.
View Detailed Table of Contents at https://www.transparencymarketresearch.com/report-toc/77635
Europe to Lead Marine Powerboat Battery Market
Europe dominated the global marine powerboat battery market in 2019. Europe has the highest number of powerboat users in the world. Furthermore, powerboat recreational activities are rising in the region. Thus, Europe is expected to continue to dominate the global marine powerboat battery market during forecast period. It is also anticipated to be a highly attractive region of the global marine powerboat battery market in the near future. Germany was a major country for marine powerboat battery in Europe in 2019. This can be ascribed to the rise in demand for powerboats in the country. The government’s initiative to promote sea tourism in the country is also one of the leading factors driving the marine powerboat battery market.
Purchase Premium Research Report on Marine Powerboat Battery Market @ https://www.transparencymarketresearch.com/checkout.php
In terms of market share, North America follows Europe in the global marine powerboat battery market. The U.S. is expected to dominate the marine powerboat market in the region during the forecast period. Retail unit sales of new powerboats increased by 4% to approximately 280,000 units in in the U.S. in 2018, the highest since that in 2007. This rise in demand for powerboats is estimated to continue during the forecast period. Hence, the marine powerboat battery market in North America is likely to expand during the forecast period.
The marine powerboat battery market in Asia Pacific, Latina America, and Middle East & Africa is projected to expand at a steady CAGR in the near future. The rise in tourism and governments’ initiative to develop infrastructure around the coastal areas are estimated to drive the marine powerboat battery market in these regions in the near future.
Major Developments in Marine Powerboat Battery Market
In December 2019, East Penn Manufacturing Company started offering the complete line of lead and lithium material handling battery products for class I, II, and III operations. In 2018, Exide Technologies acquired Aker Wade Technologies, which designs and manufactures advanced charging systems for industrial forklifts. The addition of Aker Wade chargers to Exide’s GNB Industrial Power battery portfolio would provide best-in-class total power solutions to the motive power industry.
Competition Landscape of Marine Powerboat Battery Market
The marine powerboat battery market is dominated by multinational players operating across the globe. Prominent players operating in the global marine powerboat battery are Clarios, Saft, Trojan Battery, Exide Technologies, GS Yuasa International Ltd., Victron Energy B.V., Power Sonic Corporation, and Fullriver Battery.
Browse More Press Releases: https://www.transparencymarketresearch.com/press-releases.htm
Global Marine Powerboat Battery Market: Segmentation
Marine Powerboat Battery Market, by Battery Type
Marine Powerboat Battery Market, by Power Rating
Marine Powerboat Battery Market, by Vessel Type
Marine Powerboat Battery Market, by Region
Browse Latest Reports by TMR: https://www.transparencymarketresearch.com/latest.htm
Explore Transparency Market Research’s award-winning coverage of the global Energy & Natural Resources Industry,
Jackup Rigs Market – Rise in demand for oil and gas due to industrialization, urbanization, and population growth is driving the drilling market across the globe. This, in turn, is boosting the jackup rigs market. Increase in exploration and new discovery of oil and gas deposits in deep and ultra-deep water are fueling the market. In January 2019, BP announced a discovery of more than 1 billion barrels of oil in its Thunder Horse field in the Gulf of Mexico. These discoveries are likely to spark long-term drilling and exploration operations over the coming years, leading to a steady rise in the demand from the global jackup rigs market over the forecast period.
Wellhead Equipment Market – There are still some challenges that may slow down the growth of the global wellhead equipment market in the coming years of the forecast period. One of the key restraining factors is the price fluctuations of crude oil market has delayed several sanctioned gas and oil projects across the globe. This has led to several project sites facing work backlog and rise in budget. Such delays are expected to slow down the market in the near future. However, increasing demand for wellhead equipment in harsher and unmanned project sites coupled with technological advancements are likely to have a positive influence on the growth of wellhead equipment market.
Pumped Hydro Storage Plant Market – Demand for renewable energy sources is gaining momentum across the globe. Several governments across the globe have already implemented programs and policies that are designed to support renewable energy. Additionally, stringent government regulations regarding greenhouse gas emissions and targets set for renewable energy installation are also driving the market. Rising investments in developing sustainable storage technologies along with ongoing energy efficiency norms are also expected to augment the market in the next few years period.
Biogas Generator Market – Europe dominated the global market in 2018. This trend is estimated to continue during the forecast period, owing to various initiatives taken by governments of countries in the region to reduce carbon dioxide emissions. In 2007, the European Union set the ‘20-20-20’ target aimed at 20% reduction in greenhouse gas emissions, increase in the share of renewable sources by 20% to produce energy, and rise in the energy efficiency by 20%. This factor drives the biogas generator market in Europe.
Explore More Upcoming Reports: https://www.transparencymarketresearch.com/upcoming.htm
Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Our experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.
Mr. Rohit Bhisey
Transparency Market Research
90 State Street,
Albany NY – 12207
USA – Canada Toll Free: 866-552-3453
Press Release Source: https://www.transparencymarketresearch.com/pressrelease/marine-powerboat-battery-market.htm