by The boat accumulator is a pressure vessel that stores compressed air or inert gases to provide power to pneumatic systems on a boat. Some common applications of boat accumulators include anchor windlasses, head units, engine controls, trim tabs, and other accessories that require pressurized air or gas. With the growing popularity of recreational boating and boat ownership, the demand for reliable and efficient on-board systems has increased. Boat accumulators help provide uninterrupted air pressure
The global Boat Accumulator Market is estimated to be valued at US$ 266.66 Mn in 2023 and is expected to exhibit a CAGR of 13% over the forecast period 2023 to 2030to keep these systems functioning smoothly., as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends in the boat accumulator market is the growing demand for lightweight and high-pressure accumulators. Boat owners prefer accumulators that are compact and do not add unnecessary weight. Manufacturers are focusing on using advanced materials like aluminum and composite plastics to manufacture lightweight accumulators that can withstand high pressures. Another trend is the introduction of smart accumulators with integrated sensors and controls. These accumulators can monitor pressure levels, provide alerts for maintenance needs, and integrate with boat monitoring systems. The gathered data helps optimize accumulator performance and service life. Wireless connectivity is also being added to enable remote monitoring on smart devices. These technological advancements are boosting the popularity of boat accumulators.
Porter’s Analysis
Threat of new entrants: Moderate barriers to entry due to capital requirements and established brand loyalty.
Bargaining power of buyers: Moderate due to availability of substitutes however differentiated products provide some customer lock-in.
Bargaining power of suppliers: Low due to fragmented supplier base and availability of substitutes.
Threat of new substitutes: High threat due to technology developments in other energy storage solutions.
Competitive rivalry: High competition due to large number of players offering differentiated products.
Key Takeaways
The global Boat Accumulator market size is expected to witness high growth. The global Boat Accumulator Market is estimated to be valued at US$ 266.66 Mn in 2023 and is expected to exhibit a CAGR of 13% over the forecast period 2023 to 2030.
The North America region dominated the boat accumulator market in 2022 and is expected to grow at a high CAGR during the forecast period. Factors such as growing demand for recreational boats and rise in tourism activities are expected to drive the regional market. Asia Pacific is expected to exhibit the fastest growth over the forecast period. Countries such as China, Japan, and South Korea are major contributors to the regional market growth.
Key players operating in the Boat Accumulator market are Atlassian Corporation Plc, Microsoft Corporation, Monday.com Ltd., Wrike, Inc., Asana, Inc., Jira Software (part of Atlassian), Smartsheet Inc., Trello, Inc., Basecamp LLC, Teamwork.com Ltd., Zoho Corporation Pvt. Ltd., Pivotal Software, Inc., VersionOne Inc., Clarizen Ltd., Targetprocess Inc. Key players operating in the boat accumulator market are focusing on product innovation and development to gain a competitive advantage. For instance, in 2022, Atlassian Corporation launched Jira Work Management to help teams work more efficiently.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
