The Boat Accumulator Market is Estimated To Witness High Growth Owing To Increasing Marine Activities
One of the key trends fueling the growth of the boat accumulator market is the growing popularity of water sports and recreational boating activities. According to the National Marine Manufacturers Association (NMMA), boating participation has increased significantly over the past few years, thereby driving the demand for boat accumulators. Furthermore, continual technological advancements in accumulator technology is leading to better performance batteries with higher power capacity and longer service life. Manufacturers are focusing on developing lithium ion and supercapacitor-based accumulators with improved cycle life, faster charging capabilities and reduced maintenance needs. Such technological developments are expected to further aid the market growth over the forecast period.
Segment Analysis
The boat accumulator market is segmented based on voltage range, application, and region. Based on voltage range, the 12V segment dominated the market in 2022 and is expected to continue its dominance over the forecast period. 12V accumulators are widely used in small and medium boats owing to their ability to run basic boat appliances and equipment. Application-wise, engine starting segment held the largest share in 2022 as boat accumulators play a vital role in starting the boat engine. Geographically, Europe held the largest share in the global boat accumulator market owing to the presence of major boat manufacturers and higher consumer demand for luxury boats in countries like Germany, Italy, and France.
Key Takeaways
The Global Boat Accumulator Market Size is expected to witness high growth, exhibiting a CAGR of 2.8% over the forecast period, due to increasing leisure boating activities and maritime tourism across the globe.
Regional analysis - Europe dominated the boat accumulator market in 2022 and is expected to continue its dominance over the forecast period. Countries like Germany, Italy, and France have strong boating industries and a high number of boats per capita driving the demand for boat accumulators.
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