Global Yacht Battery Market 2017-2021

Overview of the global yacht battery market

Technavio’s market research analyst predicts the global yacht battery market to grow steadily at a CAGR of above 2% by 2021. One of the primary drivers for this market is the steady growth of the boating industry. The increase in the number of boat shows in the US and the rise in the number of participants are driving the boating industry in the country. Also, wakeboard or ski boats, personal watercraft, aluminum fishing boats, pontoon boats, and fiberglass runabouts accounted for the majority of the powerboat sales in the US. Boat shows in the US are marketplaces where boats are displayed and sold off. Consequently, the growing participation in these shows has the potential to increase the boat sales. Moreover, the rising popularity of boat shows in countries like Canada and UK is expected to propel the growth of the global yacht battery market during the forecast period.

One of the latest trends gaining traction in this market is the replacement of lead-acid batteries with AGM batteries. Batteries provide the necessary power for starting the boat engine and power the internal electrical components. Lead-acid batteries have a very short lifespan compared with lithium-ion batteries and their power retaining capacity deteriorates at a much smaller interval than their lithium counterparts. Also, over rough seas, the chances of electrolyte water within the battery to spill and inflict damage are high. This has compelled OEMs to adopt absorbed glass mat (AGM) batteries. This rise in popularity is primarily due to the mesh composed of glass fibers for absorbing electrolytes. As a result, this system avoids spillage, leakage, or evaporation issues because it does not contain any fluid components. AGM batteries serve to be deep cycle batteries that can be recharged by most chargers without being affected by issues regarding overcharging. These advantages of the AGM batteries are expected to augment growth in the global yacht battery market in the coming years.

Competitive landscape and key vendors

The global yacht battery market is competitive in nature with a limited number of well-established vendors operating in the market. The key vendors in the market are currently growing their customer base and are increasing their investments in R&D. The competitive environment in the lithium marine batteries market is expected to intensify with advances in technology, government regulations, and entry of new competitors.

Leading vendors in the market are –

• Saft
• Exide Technologies
• GS Yuasa

Segmentation by type and analysis of the yacht battery market

• Lithium-ion battery
• Lead-acid battery

During 2016, the lead-acid battery segment dominated the lithium marine batteries market and accounted for a major part of the overall market share. Factors such as the improving economy coupled with the increased number of boat shows in the US are the main drivers for the growth of this segment in the global market.

Geographical segmentation and analysis of the yacht battery market

• Europe
• US
• ROW

In this market study, analysts have estimated the US to dominate the lithium marine batteries market during the forecast period. This market dominance of the US can be attributed to the growing popularity of water sports, boat races, and other activities across the country.

Key questions answered in the report include

• What will the market size and the growth rate be in 2021?
• What are the key factors driving the global yacht battery market?
• What are the key market trends impacting the growth of the global yacht battery market?
• What are the challenges to market growth?
• Who are the key vendors in the global yacht battery market?
• What are the market opportunities and threats faced by the vendors in the global yacht battery market?
• Trending factors influencing the market shares of Europe, the US, and ROW.
• What are the key outcomes of the five forces analysis of the global yacht battery market? 

Technavio also offers customization on reports based on specific client requirement.