Reports
Global Marine Battery Market: By Application; By Battery Design; By Battery Function; By Battery Type; By Nominal Capacity; By Propulsion Type; By Sales Channel; By Ship Power; By Ship Range; Regional Analysis; Historical Market and Forecast (2018-2028); Market Dynamics; Competitive Landscape; Industry Events and Developments
Global Marine Battery Market Outlook
The global marine battery market attained a value of about USD 392.45 million in 2020. The market is further expected to grow in the forecast period of 2023-2028 at a CAGR of 16.27% to reach nearly USD 969.59 million by 2026.
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Rising Demand for Lithium Batteries Boosting the Growth of the Marine Battery Industry
The increasing demand for lithium batteries in the marine industry is aiding the market growth of marine battery. The lightweight and compact size of lithium batteries make them ideal for deployment in vessels to enhance their functionality and energy-efficiency. Moreover, the increasing cost-efficiency of lithium batteries owing to innovations in manufacturing processes is leading to a surge in their use in commercial vessels, thus invigorating the market growth.
The use of such batteries also enhances the overall safety of vessels, due to which it is increasingly preferred, which is fuelling the market growth. As lithium batteries require low maintenance to provide faster response, their deployment is significantly increasing, which further is propelling the growth of the marine battery industry. In addition, the growing demand for passenger vessels with minimal noise, vibration, and emission to enhance consumer experience is increasing the demand for fully electronic propulsions, which is providing further impetus to the market growth of marine battery.
Marine Battery: Market Segmentation
A marine battery, variously known as a boat battery, is a battery that is specifically designed to be deployed on vessels to provide energy for their functioning. It can be used to withstand the pounding and vibration of a boat and is more energy-efficient than conservative fuels. A marine battery is reliable, lightweight, and durable, which makes them an ideal source of energy for ships.
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The major application segments of marine battery are:
- Commercial
- Defence
The commercial segment is further divided into inland vessels and the seafaring vessels. The defence segment is further categorised into destroyers, frigates, corvettes, amphibious ships, offshore support vessels, and submarines.
By battery design, the market is bifurcated into:
- Solid-State Batteries
- Flow Batteries
The market can be broadly categorised on the basis of its battery functions into:
- Starting Batteries
- Deep-Cycle Batteries
- Dual-Purpose Batteries
Based on battery type, the market is divided into:
- Lithium
- Lead-Acid Battery
- Fuel Cell
On the basis of nominal capacity, the market is segmented into:
- <100AH
- 100-250AH
- >250AH
The major propulsion types of marine battery are:
- Fully Electric
- Hybrid
- Conventional
- Ship Autonomy
The market, on the basis of sales channel, can be segregated into:
- OEM
- Aftermarket
Based on ship power, the market is categorised into:
- <75 KW
- 75-150 KW
- 150-745 KW
- 740-7560 KW
- >7560 KW
By ship range, the market is classified into:
- <50 Km
- 50-100 Km
- 100-1000 Km
- >1000 Km
The EMR report looks into the regional markets of marine battery like North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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Growing Demand for Fully Electric Ships to Bolster the Market Growth of Marine Battery
As the concerns regarding greenhouse gas emissions from conventional ships are growing, the demand for fully electric ships is increasing. In addition, the introduction of stringent regulations by various international organisations to curb growing pollution levels is also increasing the demand for battery-operated ships. For instance, the International Maritime Organisation (IMO) initiated IMO 2020 limits emission control from fuels to 0.50% mass by mass to contain the rising sulphur dioxide levels.
The growing use of fully electric ships for short distances is increasing the demand for marine batteries, hence augmenting the market growth. The increasing cost-effectiveness of marine batteries is also increasing the use of hybrid vessels, which is further augmenting the market growth. Moreover, the ease of installation provided by innovative marine batteries is surging their deployment, which is significantly contributing to the industry growth. Although the market growth may be impeded by the inability of marine batteries to completely operate large vessels, the increasing research activities to develop advanced marine batteries is expected to invigorate the growth of the industry in upcoming years.
Key Industry Players in the Global Marine Battery Market
The report presents a detailed analysis of the following key players in the global marine battery market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:
- Siemens AG
- Corvus Energy
- Leclanché Sa
- Toshiba Corporation
- Powertech Systems
- Others
The comprehensive report looks into the macro and micro aspects of the industry. The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2022 |
| Historical Period | 2018-2022 |
| Forecast Period | 2023-2028 |
| Scope of the Report | Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Application, Battery Design, Battery Function, Battery Type, Nominal Capacity, Propulsion Type, Sales Channel, Ship Power, Ship Range, Region |
| Breakup by Application | Commercial, Defence |
| Breakup by Battery Design | Solid-State Batteries, Flow Batteries |
| Breakup by Battery Function | Starting Batteries, Deep-Cycle Batteries, Dual-Purpose Batteries |
| Breakup by Battery Type | Lithium, Lead-Acid Battery, Fuel Cell |
| Breakup by Nominal Capacity | <100AH, 100-250AH, >250AH |
| Breakup by Propulsion Type | Fully Electric, Hybrid, Conventional, Ship Autonomy |
| Breakup by Sales Channel | OEM, Aftermarket |
| Breakup by Ship Power | <75 KW, 75-150 KW, 150-745 KW, 740-7560 KW, >7560KW |
| Breakup by Ship Range | <50 Km, 50-100 Km, 100-1000 Km, >1000 Km |
| Breakup by Region | North America, Europe, Asia Pacific, Latin America, Middle East and Africa |
| Market Dynamics | SWOT, Porter's Five Forces, Key Indicators for Price and Demand |
| Price Analysis | Historical and Forecast Price Trends- Regional |
| Competitive Landscape | Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications |
| Companies Covered | Siemens AG, Corvus Energy, Leclanché Sa, Toshiba Corporation, Powertech Systems, Others |
| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Marine Battery Market Analysis
8.1 Key Industry Highlights
8.2 Global Marine Battery Historical Market (2018-2022)
8.3 Global Marine Battery Market Forecast (2023-2028)
8.4 Global Marine Battery Market by Application
8.4.1 Commercial
8.4.1.1 Historical Trend (2018-2022)
8.4.1.2 Forecast Trend (2023-2028)
8.4.1.3 Commercial by Type
8.4.1.3.1 Inland Vessels
8.4.1.3.2 Seafaring Vessels
8.4.2 Defence
8.4.2.1 Historical Trend (2018-2022)
8.4.2.2 Forecast Trend (2023-2028)
8.4.2.3 Defence by Type
8.4.2.3.1 Destroyers
8.4.2.3.2 Frigates
8.4.2.3.3 Corvettes
8.4.2.3.4 Amphibious Ships
8.4.2.3.5 Offshore Support Vessels
8.4.2.3.6 Submarines
8.5 Global Marine Battery Market by Battery Design
8.5.1 Solid-State Batteries
8.5.1.1 Historical Trend (2018-2022)
8.5.1.2 Forecast Trend (2023-2028)
8.5.2 Flow Batteries
8.5.2.1 Historical Trend (2018-2022)
8.5.2.2 Forecast Trend (2023-2028)
8.6 Global Marine Battery Market by Battery Function
8.6.1 Starting Batteries
8.6.1.1 Historical Trend (2018-2022)
8.6.1.2 Forecast Trend (2023-2028)
8.6.2 Deep-Cycle Batteries
8.6.2.1 Historical Trend (2018-2022)
8.6.2.2 Forecast Trend (2023-2028)
8.6.3 Dual-Purpose Batteries
8.6.3.1 Historical Trend (2018-2022)
8.6.3.2 Forecast Trend (2023-2028)
8.7 Global Marine Battery Market by Battery Type
8.7.1 Lithium
8.7.1.1 Historical Trend (2018-2022)
8.7.1.2 Forecast Trend (2023-2028)
8.7.2 Lead-Acid Battery
8.7.2.1 Historical Trend (2018-2022)
8.7.2.2 Forecast Trend (2023-2028)
8.7.3 Fuel Cell
8.7.3.1 Historical Trend (2018-2022)
8.7.3.2 Forecast Trend (2023-2028)
8.8 Global Marine Battery Market by Nominal Capacity
8.8.1 <100AH
8.8.1.1 Historical Trend (2018-2022)
8.8.1.2 Forecast Trend (2023-2028)
8.8.2 100-250AH
8.8.2.1 Historical Trend (2018-2022)
8.8.2.2 Forecast Trend (2023-2028)
8.8.3 >250AH
8.8.3.1 Historical Trend (2018-2022)
8.8.3.2 Forecast Trend (2023-2028)
8.9 Global Marine Battery Market by Propulsion Type
8.9.1 Fully Electric
8.9.1.1 Historical Trend (2018-2022)
8.9.1.2 Forecast Trend (2023-2028)
8.9.2 Hybrid
8.9.2.1 Historical Trend (2018-2022)
8.9.2.2 Forecast Trend (2023-2028)
8.9.3 Conventional
8.9.3.1 Historical Trend (2018-2022)
8.9.3.2 Forecast Trend (2023-2028)
8.9.4 Ship Autonomy
8.9.4.1 Historical Trend (2018-2022)
8.9.4.2 Forecast Trend (2023-2028)
8.10 Global Marine Battery Market by Sales Channel
8.10.1 OEM
8.10.1.1 Historical Trend (2018-2022)
8.10.1.2 Forecast Trend (2023-2028)
8.10.2 Aftermarket
8.10.2.1 Historical Trend (2018-2022)
8.10.2.2 Forecast Trend (2023-2028)
8.11 Global Marine Battery Market by Ship Power
8.11.1 <75 KW
8.11.1.1 Historical Trend (2018-2022)
8.11.1.2 Forecast Trend (2023-2028)
8.11.2 75-150 KW
8.11.2.1 Historical Trend (2018-2022)
8.11.2.2 Forecast Trend (2023-2028)
8.11.3 150-745 KW
8.11.3.1 Historical Trend (2018-2022)
8.11.3.2 Forecast Trend (2023-2028)
8.11.4 740-7560 KW
8.11.4.1 Historical Trend (2018-2022)
8.11.4.2 Forecast Trend (2023-2028)
8.11.5 >7560KW
8.11.5.1 Historical Trend (2018-2022)
8.11.5.2 Forecast Trend (2023-2028)
8.12 Global Marine Battery Market by Ship Range
8.12.1 <50 Km
8.12.1.1 Historical Trend (2018-2022)
8.12.1.2 Forecast Trend (2023-2028)
8.12.2 50-100 Km
8.12.2.1 Historical Trend (2018-2022)
8.12.2.2 Forecast Trend (2023-2028)
8.12.3 100-1000 Km
8.12.3.1 Historical Trend (2018-2022)
8.12.3.2 Forecast Trend (2023-2028)
8.12.4 >1000 Km
8.12.4.1 Historical Trend (2018-2022)
8.12.4.2 Forecast Trend (2023-2028)
8.13 Global Marine Battery Market by Region
8.13.1 North America
8.13.1.1 Historical Trend (2018-2022)
8.13.1.2 Forecast Trend (2023-2028)
8.13.2 Europe
8.13.2.1 Historical Trend (2018-2022)
8.13.2.2 Forecast Trend (2023-2028)
8.13.3 Asia Pacific
8.13.3.1 Historical Trend (2018-2022)
8.13.3.2 Forecast Trend (2023-2028)
8.13.4 Latin America
8.13.4.1 Historical Trend (2018-2022)
8.13.4.2 Forecast Trend (2023-2028)
8.13.5 Middle East and Africa
8.13.5.1 Historical Trend (2018-2022)
8.13.5.2 Forecast Trend (2023-2028)
9 North America Marine Battery Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2022)
9.1.2 Forecast Trend (2023-2028)
9.2 Canada
9.2.1 Historical Trend (2018-2022)
9.2.2 Forecast Trend (2023-2028)
10 Europe Marine Battery Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2022)
10.1.2 Forecast Trend (2023-2028)
10.2 Germany
10.2.1 Historical Trend (2018-2022)
10.2.2 Forecast Trend (2023-2028)
10.3 France
10.3.1 Historical Trend (2018-2022)
10.3.2 Forecast Trend (2023-2028)
10.4 Italy
10.4.1 Historical Trend (2018-2022)
10.4.2 Forecast Trend (2023-2028)
10.5 Others
11 Asia Pacific Marine Battery Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2022)
11.1.2 Forecast Trend (2023-2028)
11.2 Japan
11.2.1 Historical Trend (2018-2022)
11.2.2 Forecast Trend (2023-2028)
11.3 India
11.3.1 Historical Trend (2018-2022)
11.3.2 Forecast Trend (2023-2028)
11.4 ASEAN
11.4.1 Historical Trend (2018-2022)
11.4.2 Forecast Trend (2023-2028)
11.5 Australia
11.5.1 Historical Trend (2018-2022)
11.5.2 Forecast Trend (2023-2028)
11.6 Others
12 Latin America Marine Battery Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2022)
12.1.2 Forecast Trend (2023-2028)
12.2 Argentina
12.2.1 Historical Trend (2018-2022)
12.2.2 Forecast Trend (2023-2028)
12.3 Mexico
12.3.1 Historical Trend (2018-2022)
12.3.2 Forecast Trend (2023-2028)
12.4 Others
13 Middle East and Africa Marine Battery Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2022)
13.1.2 Forecast Trend (2023-2028)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2022)
13.2.2 Forecast Trend (2023-2028)
13.3 Nigeria
13.3.1 Historical Trend (2018-2022)
13.3.2 Forecast Trend (2023-2028)
13.4 South Africa
13.4.1 Historical Trend (2018-2022)
13.4.2 Forecast Trend (2023-2028)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Value Chain Analysis
16 Price Analysis
17 Competitive Landscape
17.1 Market Structure
17.2 Company Profiles
17.2.1 Siemens AG
17.2.1.1 Company Overview
17.2.1.2 Product Portfolio
17.2.1.3 Demographic Reach and Achievements
17.2.1.4 Certifications
17.2.2 Corvus Energy
17.2.2.1 Company Overview
17.2.2.2 Product Portfolio
17.2.2.3 Demographic Reach and Achievements
17.2.2.4 Certifications
17.2.3 Leclanché Sa
17.2.3.1 Company Overview
17.2.3.2 Product Portfolio
17.2.3.3 Demographic Reach and Achievements
17.2.3.4 Certifications
17.2.4 Toshiba Corporation
17.2.4.1 Company Overview
17.2.4.2 Product Portfolio
17.2.4.3 Demographic Reach and Achievements
17.2.4.4 Certifications
17.2.5 Powertech Systems
17.2.5.1 Company Overview
17.2.5.2 Product Portfolio
17.2.5.3 Demographic Reach and Achievements
17.2.5.4 Certifications
17.2.6 Others
18 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Marine Battery Market: Key Industry Highlights, 2018 and 2028
2. Global Marine Battery Historical Market: Breakup by Application (USD Million), 2018-2022
3. Global Marine Battery Market Forecast: Breakup by Application (USD Million), 2023-2028
4. Global Marine Battery Historical Market: Breakup by Battery Design (USD Million), 2018-2022
5. Global Marine Battery Market Forecast: Breakup by Battery Design (USD Million), 2023-2028
6. Global Marine Battery Historical Market: Breakup by Battery Function (USD Million), 2018-2022
7. Global Marine Battery Market Forecast: Breakup by Battery Function (USD Million), 2023-2028
8. Global Marine Battery Historical Market: Breakup by Battery Type (USD Million), 2018-2022
9. Global Marine Battery Market Forecast: Breakup by Battery Type (USD Million), 2023-2028
10. Global Marine Battery Historical Market: Breakup by Nominal Capacity (USD Million), 2018-2022
11. Global Marine Battery Market Forecast: Breakup by Nominal Capacity (USD Million), 2023-2028
12. Global Marine Battery Historical Market: Breakup by Propulsion Type (USD Million), 2018-2022
13. Global Marine Battery Market Forecast: Breakup by Propulsion Type (USD Million), 2023-2028
14. Global Marine Battery Historical Market: Breakup by Sales Channel (USD Million), 2018-2022
15. Global Marine Battery Market Forecast: Breakup by Sales Channel (USD Million), 2023-2028
16. Global Marine Battery Historical Market: Breakup by Ship Power (USD Million), 2018-2022
17. Global Marine Battery Market Forecast: Breakup by Ship Power (USD Million), 2023-2028
18. Global Marine Battery Historical Market: Breakup by Ship Range (USD Million), 2018-2022
19. Global Marine Battery Market Forecast: Breakup by Ship Range (USD Million), 2023-2028
20. Global Marine Battery Historical Market: Breakup by Region (USD Million), 2018-2022
21. Global Marine Battery Market Forecast: Breakup by Region (USD Million), 2023-2028
22. North America Marine Battery Historical Market: Breakup by Country (USD Million), 2018-2022
23. North America Marine Battery Market Forecast: Breakup by Country (USD Million), 2023-2028
24. Europe Marine Battery Historical Market: Breakup by Country (USD Million), 2018-2022
25. Europe Marine Battery Market Forecast: Breakup by Country (USD Million), 2023-2028
26. Asia Pacific Marine Battery Historical Market: Breakup by Country (USD Million), 2018-2022
27. Asia Pacific Marine Battery Market Forecast: Breakup by Country (USD Million), 2023-2028
28. Latin America Marine Battery Historical Market: Breakup by Country (USD Million), 2018-2022
29. Latin America Marine Battery Market Forecast: Breakup by Country (USD Million), 2023-2028
30. Middle East and Africa Marine Battery Historical Market: Breakup by Country (USD Million), 2018-2022
31. Middle East and Africa Marine Battery Market Forecast: Breakup by Country (USD Million), 2023-2028
32. North America Historical Price Trends and Forecast 2018-2028
33. Europe Historical Price Trends and Forecast 2018-2028
34. Asia Pacific Historical Price Trends and Forecast 2018-2028
35. Latin America Historical Price Trends and Forecast 2018-2028
36. Middle East and Africa Historical Price Trends and Forecast 2018-2028
37. Global Marine Battery Market Structure
Key Questions Answered in the Report
In 2020, the global marine battery market attained a value of nearly USD 392.45 million.
The market is projected to grow at a CAGR of 16.27% between 2021 and 2026.
The market is estimated to witness a healthy growth in the forecast period of 2023-2028 to reach about USD 969.59 million by 2026.
The market is being driven by the growing demand for lithium batteries and the increasing demand for passenger vehicles with minimal noise and vibration.
The market is estimated to be augmented by the growing demand for fully electric ships for short distances, the increasing concerns regarding extensive greenhouse emissions from conventional vessels, and the rising cost-effectiveness of marine batteries.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The major application segments of marine battery in the industry are commercial and defence.
The various battery designs of marine battery are solid-state batteries and flow batteries.
The different battery functions of marine battery are starting batteries, deep-cycle batteries, and dual-purpose batteries.
The major battery types of marine battery are lithium, lead-acid battery, and fuel cell.
The significant nominal capacities in the market are <100AH, 100-250AH, and >250AH.
The various propulsion types of marine battery are fully electric, hybrid, conventional, and ship autonomy.
The different sales channels of marine battery are OEM and aftermarket.
The significant ship powers of marine battery are <75 KW, 75-150 KW, 150-745 KW, 740-7560 KW, and >7560 KW.
The major ship ranges of marine battery are <50 Km, 50-100 Km, 100-1000 Km, and >1000 Km.
The major players in the industry are Siemens AG, Corvus Energy, Leclanché Sa, Toshiba Corporation, and Powertech Systems, among others.
Analyst Review
The global marine battery market attained a value of nearly USD 392.45 million in 2020, driven by the increasing demand for lithium batteries. Aided by the growing demand for fully electric ships owing to rising environmental concerns, the market is expected to witness a further growth in the forecast period of 2023-2028, growing at a CAGR of 16.27%. The market is projected to reach about USD 969.59 million by 2026.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on its applications, the marine battery industry can be segmented into commercial and defence. By battery design, the market is bifurcated into solid-state batteries and flow batteries. On the basis of battery functions, the industry is divided into starting batteries, deep-cycle batteries, and dual-purpose batteries. Based on battery types, the market is categorised into lithium, lead-acid battery, and fuel cell. By nominal capacity, the market is classified into <100AH, 100-250AH, and >250AH. By propulsion type, the market is divided into fully electric, hybrid, conventional, and ship autonomy. On the basis of sales channel, the industry is bifurcated into OEM and aftermarket. Based on ship power, the market is segregated into <75 KW, 75-150 KW, 150-745 KW, 740-7560 KW, and >7560 KW. By ship ranges, the industry is categorised into 50 Km, 50-100 Km, 100-1000 Km, and >1000 Km. The major regional markets for marine battery are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include Siemens AG, Corvus Energy, Leclanché Sa, Toshiba Corporation, and Powertech Systems, among others.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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