Press release
Marine Battery Market 2019, By Top Key Players- East Penn Manufacturing, Exide Technologies, Manbat, Staab Battery, Saft, Shield Batteries, Battery Supplies
Marine Battery Market: Introduction
Batteries used for marine application have to withstand extreme vibrations and stresses, hence the marine batteries are specially engineered in order to perform under worst conditions. Apart from a general starter battery, marine battery is intended to store power and release it over a much longer period of time. Marine battery is used in providing back up power to the safety equipment and powering trolling motor and various other electronic component and systems. With growing environmental regulations on air and water pollution regarding NOx, SOx, and CO2 emissions, the manufacturers are focused to obtain new technologies in order to reduce the emissions while increasing the efficiency of the marine batteries. Growing demand for transportation through marine is increasing the need for more reliable and efficient power backup batteries for safety and trouble free operations of the watercraft in case of power failure. Increasing public attraction towards water sports activities is expected to increase the demand for marine battery across the globe. Growing requirement of new technologies, with increased profitability and emitting less pollution is expected to contribute to the growth of global marine battery market over the forecast period.
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Marine Battery Market: Dynamics
Increasing water sports industry as well as growing public attraction towards leisure boating is one of the key driver for global marine battery market. Now a days people like to spend their vacation time at the coast or at the sea, leading to the increased demand for marine vehicles which in turn is increasing the demand for more efficient marine batteries. Increasing global concern regarding harmful air emissions is propelling the demand for new battery designs and technologies in order to obtain cleaner marine transport including commercial and passenger.
The use of dual purpose service batteries in marine vehicles is an ongoing trend in marine battery market. Owing to its salient features such as achieving various demands of starting and deep cycling services, the demand for dual purpose marine battery is increasing with a significant pace. In order to meet the environment friendly demands, some of the key manufactures have initiated to provide lithium ion battery technology in the marine battery market
The manufacturers may go through certain challenges in order to fulfill the current demands of the customers which includes cost efficient batteries with higher safety and environment friendly technologies.
Marine Battery Market: Segment
Global marine battery market can be segmented by battery type, by application type, and by sales channel
By battery type the global marine battery market can be segmented as
Gel batteries
Absorbed glass mat (AGM) batteries
Flooded batteries
By application the global marine battery market can be segmented as
Marine starting service
Deep cycle service
Dual purpose service
By sales channel type the global marine battery market can be segmented as
Aftermarket
Original equipment manufacturer
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Marine Battery Market: Regional Outlook
Growing use of water crafts for commerce, transportation of cargo and passengers, military, recreation or for leisure activities is expected to increase the demand for marine battery during the forecast period. With increasing attraction towards leisure boating, mainly for powerboats is expected to propel the demand for marine battery in the Europe and North American region during the forecast period. Growing countries such as China, India, South Korea and Singapore in the region of Asia Pacific hold a significant share in the trade of goods and commerce through marine transport leading to the increased demand for new technologies in marine battery which in turn is expected to fuel the growth of marine battery market over the forecast period. Presence of Large number of oil exporters in the region of Middle East & Africa makes it an attractive region for the marine battery market. Growing leisure marine and shipbuilding sectors in Brazil is expected to boost the demand for marine battery in the region of Latin America.
Marine Battery Market: Key Participants
Examples of some of the market participants identified across the value chain of the global Marine Battery Market include:
East Penn Manufacturing Company
Exide Technologies
Manbat Ltd
Staab Battery Mfg. Co., Inc.
Saft
Shield Batteries Limited
Battery Supplies
MRR.BIZ has been compiled in-depth market research data in the report after exhaustive primary and secondary research. Our team of able, experienced in-house analysts has collated the information through personal interviews and study of industry databases, journals, and reputable paid sources.
The report provides the following information:
Tailwinds and headwinds molding the market’s trajectory
Market segments based on products, technology, and applications
Prospects of each segment
Overall current and possible future size of the market
Growth pace of the market
Competitive landscape and key players’ strategies
The main aim of the report is to:
Enable key stakeholder’s in the market bet right on it
Understand the opportunities and pitfalls awaiting them
Assess the overall growth scope in the near term
Strategize effectively with respect to production and distribution
MRR.BIZ is a leading provider of strategic market research. Our vast repository consists research reports, data books, company profiles, and regional market data sheets. We regularly update the data and analysis of a wide-ranging products and services around the world. As readers, you will have access to the latest information on almost 300 industries and their sub-segments. Both large Fortune 500 companies and SMEs have found those useful. This is because we customize our offerings keeping in mind the specific requirements of our clients.
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