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.
Looking for more information from this report? Request a free sample report
Technavio’s sample reports are free of charge and contain multiple sections of the report including the market size and forecast, drivers, challenges, trends, and more.
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.
Browse Related Reports:
- Global Surface Water Sports Equipment Market 2017-2021
- Global Sports ATV Equipment Market 2017-2021
- Global Water Sports Gear and Equipment Market 2016-2020
Become a Technavio Insights member and access all three of these reports for a fraction of their original cost. As a Technavio Insights member, you will have immediate access to new reports as they’re published in addition to all 6,000+ existing reports covering segments like auto accessories, automotive manufacturing, and powertrain. This subscription nets you thousands in savings, while staying connected to Technavio’s constant transforming research library, helping you make informed business decisions more efficiently.
Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, resellers, and end-users.
If you are interested in more information, please contact our media team at firstname.lastname@example.org.