PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1402687
PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1402687
The global boat accumulator market was valued at US$ 259.4 million in 2022 and is expected to reach US$ 323.6 million by 2030, growing at a CAGR of 2.8% during the forecast period.
Report Coverage | Report Details | ||
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Base Year: | 2022 | Market Size in 2023: | US$ 259.4 Mn |
Historical Data for: | 2018 to 2021 | Forecast Period: | 2023 - 2030 |
Forecast Period 2023 to 2030 CAGR: | 2.80% | 2030 Value Projection: | US$ 323.6 Mn |
The boat accumulator market has seen steady growth over the past few years. An accumulator is a vital component in boats that stores compressed air or gas to be used in various applications. It acts as a reservoir that collects compressed air or nitrogen from an air compressor. This stored pressurized air or gas is then used to operate air horns, bilge pumps, anchors, winches, and other pneumatic devices in boats. Accumulators help in reducing pressure fluctuation caused due to intermittent compressor operation and ensure sufficient compressed air supply for associated boat components. A boat accumulator is an air-filled water tank designed to work with a pressure water pump system controlled by a pressure switch. The pump is turned on when the pressure in the water line falls below a pre-set cut-in pressure, and it is switched off when the water outlet is closed. This cycle is repeated several times a minute and can wear out the pump. There are several different types of accumulators available, all of which work differently but with the same general purpose. These include bladder, membrane, and piston accumulators.
The boat accumulator industry is mainly driven by factors such as rising consumer awareness about energy conservation and environmental protection, and growing demand for green technology in the industrial sector, Moreover, increasing infrastructure and transportation is expected to foster the boat accumulator market growth. Furthermore, technological innovations are expected to present lucrative market opportunities for growth in the near future.
On the other hand, the high cost of production is expected to hamper the market growth.
Boat Accumulator Market Detailed Segmentation: