(MENAFN- GlobeNewsWire - Nasdaq) New York, United States, Sept. 05, 2023 (GLOBE NEWSWIRE) -- Over 50% of the Boat Batteries Market is made up of lead-acid batteries, which are the most popular variety. However, because of their reduced weight, increased lifespan, and higher energy density, lithium-ion batteries are becoming more and more common. AGM batteries and gel batteries are some other varieties of boat batteries.

Application, end-user, and geographic segments are used to categorise the boat battery market. Starting batteries, deep cycle batteries, and trolling batteries are the market segments according to application. Deep cycle batteries are used to power the boat's electrical equipment while starting batteries are utilised to start the motor. Trolling motors are powered by trolling batteries.

The market is divided into leisure boats, commercial boats, and military boats based on end-user. The greatest segment of the market is made up of recreational boats. During the predicted period, commercial boats and military boats are anticipated to grow more quickly.

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Due to rising disposable income levels and the popularity of water activities, the industry is expanding quickly. 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.

Due to its advantages for the environment and cheaper maintenance requirements, electric boats are growing in popularity. This is boosting demand for lithium-ion batteries, which can power electric boats.

The effects of marine pollution on the environment are becoming more widely known. This is encouraging the use of boat batteries that are better for the environment, including lithium-ion batteries.

Report Scope

Report Metric	Details
Compound Annual Growth Rate (CAGR)	6.1 %
Forecast Period	2023-2031
Report Coverage	Revenue Forecast, Competitive Landscape, Growth Factors, Environment & Regulatory Landscape and Trends
Segments Covered	Segmentation By Type Cranking or Starting Boat Batteries Deep-Cycle Boat Batteries Dual Purpose Boat Batteries Segmentation By Application Large Boat Small and Medium Boat
Geographies Covered	North America Europe APAC Middle East and Africa LATAM
Market Drivers	Increasing Demand For Marine Leisure Activities Growing adoption of Electric Boats

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The Global Boat Batteries Market is expected to grow significantly in the coming years. 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. The market is also expected to benefit from the technological advancements in boat batteries.

Regional Analysis

North America is a significant market for boat batteries due to its significant recreational boating industry and vast boating population. Theand Canada are the two largest markets in this region. 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.

Europe's top suppliers of boat batteries include Germany, the UK, Italy, and France. Boat batteries are in great demand across the continent. Boating has a long history in Europe, where there are several marinas, lakes, and rivers. 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.

The boat battery market is expanding more quickly in the Asia Pacific area. Market growth is encouraged by Australia, China, Japan, South Korea, and other significant countries. The region's expanding middle class, increasing disposable income, and expanding interest in recreational boating activities are driving the need for boat batteries. The development of marinas, boating infrastructure, and coastal tourism all have an impact on the sector's growth.

Key Highlights For The Boat Batteries Market

• The Boat Batteries Market Size is anticipated expanding at a 6.1% CAGR between 2023 and 2031.
• Over 50% of the market for boat batteries is made up of lead-acid batteries, which are the most popular variety. However, because of their reduced weight, increased lifespan, and higher energy density, lithium-ion batteries are becoming more and more common.
• Application, end-user, and geographic segments are used to categorize the boat battery market. Starting batteries, deep cycle batteries, and trolling batteries are the market segments according to application. Deep cycle batteries are used to power the boat's electrical equipment while starting batteries are utilized to start the motor. Trolling motors are powered by trolling batteries.
• The market is divided into leisure boats, commercial boats, and military boats based on end-user. The greatest segment of the market is made up of recreational boats. During the forecast period, commercial boats and military boats are anticipated to expand more quickly.
• The market is divided into four sections based on geography: North America, Europe, Asia Pacific, and Latin America. The biggest markets for boat batteries are in North America, Europe, and Asia-Pacific. During the projection period, Latin America is anticipated to see the quickest market growth.

Key Players

• Century YuBatteries
• Lifeline Batteries
• Interstate Batteries
• Trojan Battery Company
• EXIDE INDUSTRIES
• Chrome Battery
• MIGHTY MAX BATTERY
• Universal Power Group
• EnerSys

Boat Batteries Market Segmentations

Segmentation By Type

• Cranking or Starting Boat Batteries
• Deep-Cycle Boat Batteries
• Dual Purpose Boat Batteries

Segmentation By Application

• Large Boat
• Small and Medium Boat

Segment by Region

• North America
• Europe
• APAC
• Middle East and Africa
• LATAM

Table of Contents

Executive Summary

Introduction

Market Introduction

Market Definition

Scope of the Study

Market Structure

Research Methodology

Primary Research

Research Methodology

Assumptions & Exclusions

Secondary Data Sources

Market Factor Analysis

Value Chain Analysis: Boat Batteries Market

Porters Five Forces Analysis

Bargaining Power of Suppliers

Bargaining Power of Buyers

Threat of Substitution

Threat of New Entrants

Competitive Rivalry

Market Dynamics

Drivers

Restraints

Opportunities

Recent Trends Analysis

Impact of COVID-19 on Boat Batteries Market

Pre and Post Covid -19 Market Scenario Analysis

Market Recovery Timeline and Challenge

Measures Taken by Top Players

Regulatory Landscape

Boat Batteries Market, Segmentation By Type

Introduction

Market Size and Forecast, Segmentation By Type

Cranking or Starting Boat Batteries

Market Size and Forecast, By Region

Deep-Cycle Boat Batteries

Market Size and Forecast, By Region

Dual Purpose Boat Batteries

Market Size and Forecast, By Region

Boat Batteries Market, Segmentation By Application

Introduction

Market Size and Forecast, Segmentation By Application

Large Boat

Market Size and Forecast, By Region

Small and Medium Boat

Market Size and Forecast, By Region

Regional Overview

Introduction

Market Size and Forecast

North America

Market Size and Forecast

Segmentation By Type

Cranking or Starting Boat Batteries

Deep-Cycle Boat Batteries

Dual Purpose Boat Batteries

Segmentation By Application

Large Boat

Small and Medium Boat

U.S.

Segmentation By Type

Cranking or Starting Boat Batteries

Deep-Cycle Boat Batteries

Dual Purpose Boat Batteries

Segmentation By Application

Large Boat

Small and Medium Boat

Canada

Europe

Market Size and Forecast

Segmentation By Type

Cranking or Starting Boat Batteries

Deep-Cycle Boat Batteries

Dual Purpose Boat Batteries

Segmentation By Application

Large Boat

Small and Medium Boat

U.K.

Segmentation By Type

Cranking or Starting Boat Batteries

Deep-Cycle Boat Batteries

Dual Purpose Boat Batteries

Segmentation By Application

Large Boat

Small and Medium Boat

Germany

France

Spain

Italy

Russia

Nordic

Benelux

Rest of Europe

APAC

Market Size and Forecast

Segmentation By Type

Cranking or Starting Boat Batteries

Deep-Cycle Boat Batteries

Dual Purpose Boat Batteries

Segmentation By Application

Large Boat

Small and Medium Boat

China

Segmentation By Type

Cranking or Starting Boat Batteries

Deep-Cycle Boat Batteries

Dual Purpose Boat Batteries

Segmentation By Application

Large Boat

Small and Medium Boat

Korea

Japan

India

Australia

Singapore

Taiwan

South East Asia

Rest of Asia-Pacific

Middle East and Africa

Market Size and Forecast

Segmentation By Type

Cranking or Starting Boat Batteries

Deep-Cycle Boat Batteries

Dual Purpose Boat Batteries

Segmentation By Application

Large Boat

Small and Medium Boat

Segmentation By Type

Cranking or Starting Boat Batteries

Deep-Cycle Boat Batteries

Dual Purpose Boat Batteries

Segmentation By Application

Large Boat

Small and Medium Boat

Turky

Saudi Arabia

South Africa

Egypt

Nigeria

Rest of MEA

LATAM

Market Size and Forecast

Segmentation By Type

Cranking or Starting Boat Batteries

Deep-Cycle Boat Batteries

Dual Purpose Boat Batteries

Segmentation By Application

Large Boat

Small and Medium Boat

Brazil

Segmentation By Type

Cranking or Starting Boat Batteries

Deep-Cycle Boat Batteries

Dual Purpose Boat Batteries

Segmentation By Application

Large Boat

Small and Medium Boat

Mex

Argentina

Chile

Colombia

Rest of LATAM

Competitive Landscape, 2022

Introduction

Boat Batteries Market Share Analysis, 2022 (%)

Market Share Analysis, 2022

Competition Ranking, 2022

Key Developments & Growth Strategies

Merger & Acquisition

Product Launch

Expansion

Consolidated SWOT Analysis of Key Players

Company Profile

Century YuBatteries

Business Overview

Financial Data

Key Product Categories

Recent Developments

Lifeline Batteries

Interstate Batteries

Trojan Battery Company

EXIDE INDUSTRIES

Chrome Battery

MIGHTY MAX BATTERY

Universal Power Group

EnerSys

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