LONDON--(BUSINESS WIRE)--Technavio’s latest report on the global marine powerboats batteries market provides an analysis on the most important trends expected to impact the market outlook from 2017-2021. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
The research study by Technavio on the global marine powerboats batteries market for 2017-2021 provides detailed industry analysis based on engine type (outboard engine and inboard engine) and geography (the US, Europe, and ROW).
Marine powerboat batteries are used for engine ignition and for powering the electrical components of the boat like boat lights, marine fuse blocks, and electrical panels. Technavio analysts forecast the global marine powerboats batteries market to grow to 1,413.04 thousand units by 2021, at a CAGR of close to 4% over the forecast period.
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The top three emerging trends driving the global marine powerboats batteries market according to Technavio automotive research analysts are:
- Absorbed glass mat (AGM) batteries replacing lead-acid batteries
- Increased emphasis on R&D for developing energy-efficient marine batteries
- R&D on marine batteries for methanol-fueled powerboats
Absorbed glass mat (AGM) batteries replacing lead-acid batteries
“Lithium-ion batteries and absorbed glass mat batteries are being increasingly adopted to power marine powerboats due to their impressive battery lives and long lifespan. Absorbed glass mat batteries avoid spillage, leakage, or evaporation, leading to its high adoption,” says Praveen Kumar, a lead analyst at Technavio for automotive components research.
Lithium-ion batteries can discharge below 40% of their battery capacity without affecting the power storage capacity. But, since their initial costs are high, absorbed glass mat (AGM) batteries are becoming the most popular batteries.
Increased emphasis on R&D for developing energy-efficient marine batteries
Automotive manufacturers are increasing their investments towards the R&D for the production of an advanced form of marine battery that is capable of holding a higher percentage of power while reducing discharge. Samsung Electronics is funding an R&D project with Massachusetts Institute of Technology to develop an advanced lithium-ion battery capable of offering large amounts of the charge cycle, about 30 times more energy density, and operating on a liquid electrolyte. Such investments are bringing in more revenue towards the marine powerboat batteries market.
R&D on marine batteries for methanol-fueled powerboats
“The rising popularity of alternative fuels is driving the marine industry to incorporate newer technologies into the design of the powertrain of marine powerboats. The industry is focusing on the development of methanol engine powerboat which can significantly reduce emissions while offering a convenient and efficient fuel alternative,” says Praveen.
Marine batteries are specifically built to hold a charge through extended periods of idle time, which makes them suitable for maritime tours. The adoption of methanol-fueled powerboats successfully eliminates the usage of all other batteries, complementing the functioning of the methanol-fueled powerboats.
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