Marine Battery Market
Description
Marine Battery Market
Growth Factors of Marine Battery Market
The marine battery market size was valued at USD 1.06 billion in 2023, and the market is now projected to grow from USD 1.33 billion in 2024 to USD 5.40 billion by 2032, exhibiting a CAGR of 19.10% during the forecast period of 2024-2032.
COVID- 19 pandemic has enormously affected the whole world. The constant COVID-19 pandemic impacted the worldwide supply chain and a probable worldwide financial slowdown, affecting cargo ship accessibility and supply chain interruptions. It has also been affected by making shutdowns due to worldwide shutdowns or limited capacity.
High demand for maritime tourism and the necessity for enhanced marine infrastructure and connectivity are the key factors for the development of marine industries, which is predicted to produce substantial incomes for developing and developed countries, mainly liable upon marine and coastal tourism. Better infrastructure and connectivity are vital factors for growing maritime and coastal tourism.
International Maritime Organization has executed a guideline to control the increasing sulfur dioxide emissions from Marine Vessels. IMO has executed severe guideline in four ECAS (Emission Control Areas). In these ECAS, the market is projected to experience demand for another marine power technologies and the high implementation rate of marine battery and appropriate technologies. These factors are anticipated to boost the marine battery market growth.
Comprehensive Analysis of Marine Battery Market
The market can be segmented in various ways, depending on the focus of analysis such as by battery, by capacity, by design and by application. Based on battery, the market is divided into lithium-ion, fuel cell, lead-acid battery, nickel-cadmium, and sodium-based. Based on capacity, the market is divided into less than 100 Ah, 100-250 Ah, and greater than 250 Ah. Based on design, the market is segmented into the solid-state and flow battery. Based on application, the market is segmented into into commercial and defense.
Asia Pacific region is dominating the marine battery market share due to great number of commercial marine vessels operators and market players. The growth in maritime tourism and implementation of electric force in numerous marine uses motivate the market progression.
The key players are enthusiastically contributing in planned events that are targeted at maintaining durable market position and growing market share by merger, partnerships and others. These players include Akasol AG (Germany), EnerSys (U.S.), Exide Industries Ltd. (India), Furukawa Battery Solutions Co. Ltd. (Japan), G.S. Yuasa Corporation (Japan), HBL Power Systems Ltd. (India), Johnson Controls International (Ireland), Leclanché SA (Switzerland), Saft Groupe S.A. (France), Siemens AG (Germany), Systems Sunlight SA (Greece), Toshiba Corporation (Japan), Wartsila Oyj Abp (Finland) these market players spending severely on research and development in order to arise with more new technology so that they can maintain and improve their existing market.
In May 2021, Wartsila was designated by Maersk Supply Service to enable its Wartsila HY Module, a containerized hybrid battery solution and battery energy storage system for its fleet modernization.
Segmentation Table
ATTRIBUTE DETAILS
Study Period 2019-2032
Base Year 2023
Estimated Year 2024
Forecast Period 2024-2032
Historical Period 2019-2022
Growth Rate CAGR of 19.10% from 2024 to 2032
Unit Value (USD Billion)
Segmentation By Battery
- Lithium-ion
- Fuel Cell
- Lead Acid Battery
- Nickel Cadmium
- Sodium-based
By Capacity
- Less than 100 Ah
- 100-250 Ah
- Greater than 250 Ah
By Design
- Solid-state Battery
- Flow Battery
By Application
- Defense
- Commercial
By Region
- North America (By Battery, By Capacity, By Design, By Application)
- U.S. (By Battery)
- Canada (By Battery)
- U.K. (By Battery)
- Germany (By Battery)
- France (By Battery)
- Russia (By Battery)
- Italy (By Battery)
- Spain (By Battery)
- Rest of Europe (By Battery)
- China (By Battery)
- Japan (By Battery)
- India (By Battery)
- South Korea (By Battery)
- Rest of Asia Pacific (By Battery)
- Middle East & Africa (By Battery)
- Latin America (By Battery)
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Table of Contents
200 Pages
- 1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
- 2. Executive Summary
- 3. Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Restraints
- 3.3. Market Opportunities
- 4. Key Insights
- 4.1. Key Industry Developments – Key Contracts & Agreements, Mergers, Acquisitions and Partnerships
- 4.2. Latest technological Advancements
- 4.3. Porters Five Forces Analysis
- 4.4. Supply Chain Analysis
- 5. Global Marine Battery Market Analysis, Insights and Forecast, 2019-2032
- 5.1. Segmental Definitions
- 5.2. Market Analysis, Insights and Forecast – By Battery
- 5.2.1. Lithium-ion
- 5.2.2. Fuel Cell
- 5.2.3. Lead Acid Battery
- 5.2.4. Nickel Cadmium
- 5.2.5. Sodium-based
- 5.2.6. Gel
- 5.2.7. Flooded
- 5.3. Market Analysis, Insights and Forecast – By Capacity
- 5.3.1. Less than 100 Ah
- 5.3.2. 100-250 Ah
- 5.3.3. Greater than 250 Ah
- 5.4. Market Analysis, Insights and Forecast – By Design
- 5.4.1. Solid-State Battery
- 5.4.2. Flow Battery
- 5.5. Market Analysis, Insights and Forecast – Application
- 5.5.1. Defense
- 5.5.2. Commercial
- 5.6. Market Analysis, Insights and Forecast – By Region
- 5.6.1. North America
- 5.6.2. Europe
- 5.6.3. Asia Pacific
- 5.6.4. Rest of the World
- 6. North America Marine Battery Market Analysis, Insights and Forecast, 2019-2032
- 6.1. Market Analysis, Insights and Forecast – By Battery
- 6.1.1. Lithium-ion
- 6.1.2. Fuel Cell
- 6.1.3. Lead Acid Battery
- 6.1.4. Nickel Cadmium
- 6.1.5. Sodium-based
- 6.1.6. Gel
- 6.1.7. Flooded
- 6.2. Market Analysis, Insights and Forecast – By Capacity
- 6.2.1. Less than 100 Ah
- 6.2.2. 100-250 Ah
- 6.2.3. Greater than 250 Ah
- 6.3. Market Analysis, Insights and Forecast – By Design
- 6.3.1. Solid-state Battery
- 6.3.2. Flow Battery
- 6.4. Market Analysis, Insights and Forecast – Application
- 6.4.1. Defense
- 6.4.2. Commercial
- 6.5. Market Analysis – By Country
- 6.5.1. U.S.
- 6.5.1.1. Market Analysis, Insights and Forecast – By Battery
- 6.5.1.1.1. Lithium-ion
- 6.5.1.1.2. Fuel Cell
- 6.5.1.1.3. Lead Acid Battery
- 6.5.1.1.4. Nickel Cadmium
- 6.5.1.1.5. Sodium-based
- 6.5.1.1.6. Gel
- 6.5.1.1.7. Flooded
- 6.5.2. Canada
- 6.5.2.1. Market Analysis, Insights and Forecast – By Battery
- 6.5.2.1.1. Lithium-ion
- 6.5.2.1.2. Fuel Cell
- 6.5.2.1.3. Lead Acid Battery
- 6.5.2.1.4. Nickel Cadmium
- 6.5.2.1.5. Sodium-based
- 6.5.2.1.6. Gel
- 6.5.2.1.7. Flooded
- 7. Europe Marine Battery Market Analysis, Insights and Forecast, 2019-2032
- 7.1. Market Analysis, Insights and Forecast – By Battery
- 7.1.1. Lithium-ion
- 7.1.2. Fuel Cell
- 7.1.3. Lead Acid Battery
- 7.1.4. Nickel Cadmium
- 7.1.5. Sodium-based
- 7.1.6. Gel
- 7.1.7. Flooded
- 7.2. Market Analysis, Insights and Forecast – By Capacity
- 7.2.1. Less than 100 Ah
- 7.2.2. 100-250 Ah
- 7.2.3. Greater than 250 Ah
- 7.3. Market Analysis, Insights and Forecast – By Design
- 7.3.1. Solid-state Battery
- 7.3.2. Flow Battery
- 7.4. Market Analysis, Insights and Forecast – Application
- 7.4.1. Defense
- 7.4.2. Commercial
- 7.5. Market Analysis – By Country
- 7.5.1. U.K.
- 7.5.1.1. Market Analysis, Insights and Forecast – By Battery
- 7.5.1.1.1. Lithium-ion
- 7.5.1.1.2. Fuel Cell
- 7.5.1.1.3. Lead Acid Battery
- 7.5.1.1.4. Nickel Cadmium
- 7.5.1.1.5. Sodium-based
- 7.5.1.1.6. Gel
- 7.5.1.1.7. Flooded
- 7.5.2. Germany
- 7.5.2.1. Market Analysis, Insights and Forecast – By Battery
- 7.5.2.1.1. Lithium-ion
- 7.5.2.1.2. Fuel Cell
- 7.5.2.1.3. Lead Acid Battery
- 7.5.2.1.4. Nickel Cadmium
- 7.5.2.1.5. Sodium-based
- 7.5.2.1.6. Gel
- 7.5.2.1.7. Flooded
- 7.5.3. France
- 7.5.3.1. Market Analysis, Insights and Forecast – By Battery
- 7.5.3.1.1. Lithium-ion
- 7.5.3.1.2. Fuel Cell
- 7.5.3.1.3. Lead Acid Battery
- 7.5.3.1.4. Nickel Cadmium
- 7.5.3.1.5. Sodium-based
- 7.5.3.1.6. Gel
- 7.5.3.1.7. Flooded
- 7.5.4. Russia
- 7.5.4.1. Market Analysis, Insights and Forecast – By Battery
- 7.5.4.1.1. Lithium-ion
- 7.5.4.1.2. Fuel Cell
- 7.5.4.1.3. Lead Acid Battery
- 7.5.4.1.4. Nickel Cadmium
- 7.5.4.1.5. Sodium-based
- 7.5.4.1.6. Gel
- 7.5.4.1.7. Flooded
- 7.5.5. Italy
- 7.5.5.1. Market Analysis, Insights and Forecast – By Battery
- 7.5.5.1.1. Lithium-ion
- 7.5.5.1.2. Fuel Cell
- 7.5.5.1.3. Lead Acid Battery
- 7.5.5.1.4. Nickel Cadmium
- 7.5.5.1.5. Sodium-based
- 7.5.5.1.6. Gel
- 7.5.5.1.7. Flooded
- 7.5.6. Spain
- 7.5.6.1. Market Analysis, Insights and Forecast – By Battery
- 7.5.6.1.1. Lithium-ion
- 7.5.6.1.2. Fuel Cell
- 7.5.6.1.3. Lead Acid Battery
- 7.5.6.1.4. Nickel Cadmium
- 7.5.6.1.5. Sodium-based
- 7.5.6.1.6. Gel
- 7.5.6.1.7. Flooded
- 7.5.7. Rest of Europe
- 7.5.7.1. Market Analysis, Insights and Forecast – By Battery
- 7.5.7.1.1. Lithium-ion
- 7.5.7.1.2. Fuel Cell
- 7.5.7.1.3. Lead Acid Battery
- 7.5.7.1.4. Nickel Cadmium
- 7.5.7.1.5. Sodium-based
- 7.5.7.1.6. Gel
- 7.5.7.1.7. Flooded
- 8. Asia Pacific Marine Battery Market Analysis, Insights and Forecast, 2019-2032
- 8.1. Market Analysis, Insights and Forecast – By Battery
- 8.1.1. Lithium-ion
- 8.1.2. Fuel Cell
- 8.1.3. Lead Acid Battery
- 8.1.4. Nickel Cadmium
- 8.1.5. Sodium-based
- 8.1.6. Gel
- 8.1.7. Flooded
- 8.2. Market Analysis, Insights and Forecast – By Capacity
- 8.2.1. Less than 100 Ah
- 8.2.2. 100-250 Ah
- 8.2.3. Greater than 250 Ah
- 8.3. Market Analysis, Insights and Forecast – By Design
- 8.3.1. Solid-state Battery
- 8.3.2. Flow Battery
- 8.4. Market Analysis, Insights and Forecast – By Application
- 8.4.1. Defense
- 8.4.2. Commercial
- 8.5. Market Analysis – By Country
- 8.5.1. China
- 8.5.1.1. Market Analysis, Insights and Forecast – By Battery
- 8.5.1.1.1. Lithium-ion
- 8.5.1.1.2. Fuel Cell
- 8.5.1.1.3. Lead Acid Battery
- 8.5.1.1.4. Nickel Cadmium
- 8.5.1.1.5. Sodium-based
- 8.5.1.1.6. Gel
- 8.5.1.1.7. Flooded
- 8.5.2. Japan
- 8.5.2.1. Market Analysis, Insights and Forecast – By Battery
- 8.5.2.1.1. Lithium-ion
- 8.5.2.1.2. Fuel Cell
- 8.5.2.1.3. Lead Acid Battery
- 8.5.2.1.4. Nickel Cadmium
- 8.5.2.1.5. Sodium-based
- 8.5.2.1.6. Gel
- 8.5.2.1.7. Flooded
- 8.5.3. India
- 8.5.3.1. Market Analysis, Insights and Forecast – By Battery
- 8.5.3.1.1. Lithium-ion
- 8.5.3.1.2. Fuel Cell
- 8.5.3.1.3. Lead Acid Battery
- 8.5.3.1.4. Nickel Cadmium
- 8.5.3.1.5. Sodium-based
- 8.5.3.1.6. Gel
- 8.5.3.1.7. Flooded
- 8.5.4. South Korea
- 8.5.4.1. Market Analysis, Insights and Forecast – By Battery
- 8.5.4.1.1. Lithium-ion
- 8.5.4.1.2. Fuel Cell
- 8.5.4.1.3. Lead Acid Battery
- 8.5.4.1.4. Nickel Cadmium
- 8.5.4.1.5. Sodium-based
- 8.5.4.1.6. Gel
- 8.5.4.1.7. Flooded
- 8.5.5. Rest of Asia Pacific
- 8.5.5.1. Market Analysis, Insights and Forecast – By Battery
- 8.5.5.1.1. Lithium-ion
- 8.5.5.1.2. Fuel Cell
- 8.5.5.1.3. Lead Acid Battery
- 8.5.5.1.4. Nickel Cadmium
- 8.5.5.1.5. Sodium-based
- 8.5.5.1.6. Gel
- 8.5.5.1.7. Flooded
- 9. Rest of the World Marine Battery Market Analysis, Insights and Forecast, 2019-2032
- 9.1. Market Analysis, Insights and Forecast – By Battery
- 9.1.1. Lithium-ion
- 9.1.2. Fuel Cell
- 9.1.3. Lead Acid Battery
- 9.1.4. Nickel Cadmium
- 9.1.5. Sodium-based
- 9.1.6. Gel
- 9.1.7. Flooded
- 9.2. Market Analysis, Insights and Forecast – By Capacity
- 9.2.1. Less than 100 Ah
- 9.2.2. 100-250 Ah
- 9.2.3. Greater than 250 Ah
- 9.3. Market Analysis, Insights and Forecast – By Design
- 9.3.1. Solid-state Battery
- 9.3.2. Flow Battery
- 9.4. Market Analysis, Insights and Forecast – By Application
- 9.4.1. Defense
- 9.4.2. Commercial
- 9.5. Market Analysis – By Sub-Region
- 9.5.1. Middle East & Africa
- 9.5.1.1. Market Analysis, Insights and Forecast – By Battery
- 9.5.1.1.1. Lithium-ion
- 9.5.1.1.2. Fuel Cell
- 9.5.1.1.3. Lead Acid Battery
- 9.5.1.1.4. Nickel Cadmium
- 9.5.1.1.5. Sodium-based
- 9.5.1.1.6. Gel
- 9.5.1.1.7. Flooded
- 9.5.2. Latin America
- 9.5.2.1. Market Analysis, Insights and Forecast – By Battery
- 9.5.2.1.1. Lithium-ion
- 9.5.2.1.2. Fuel Cell
- 9.5.2.1.3. Lead Acid Battery
- 9.5.2.1.4. Nickel Cadmium
- 9.5.2.1.5. Sodium-based
- 9.5.2.1.6. Gel
- 9.5.2.1.7. Flooded
- 10. Competitive Analysis
- 10.1. Competition Dashboard
- 10.2. Global Marine Battery Market Rank Analysis by Key Players, 2023
- 11. Company Profiles
- 11.1. Akasol AG (Germany)
- 11.1.1. Overview
- 11.1.2. Products & services
- 11.1.3. SWOT Analysis
- 11.1.4. Recent Developments
- 11.1.5. Strategies
- 11.1.6. Financials (Based on Availability)
- 11.2. EnerSys (U.S.)
- 11.2.1. Overview
- 11.2.2. Products & services
- 11.2.3. SWOT Analysis
- 11.2.4. Recent Developments
- 11.2.5. Strategies
- 11.2.6. Financials (Based on Availability)
- 11.3. Exide Industries Ltd. (India)
- 11.3.1. Overview
- 11.3.2. Products & services
- 11.3.3. SWOT Analysis
- 11.3.4. Recent Developments
- 11.3.5. Strategies
- 11.3.6. Financials (Based on Availability)
- 11.4. Furukawa Battery Solutions Co. Ltd. (Japan)
- 11.4.1. Overview
- 11.4.2. Products & services
- 11.4.3. SWOT Analysis
- 11.4.4. Recent Developments
- 11.4.5. Strategies
- 11.4.6. Financials (Based on Availability)
- 11.5. G.S. Yuasa Corporation (Japan)
- 11.5.1. Overview
- 11.5.2. Products & services
- 11.5.3. SWOT Analysis
- 11.5.4. Recent Developments
- 11.5.5. Strategies
- 11.5.6. Financials (Based on Availability)
- 11.6. HBL Power Systems Ltd. (India)
- 11.6.1. Overview
- 11.6.2. Products & services
- 11.6.3. SWOT Analysis
- 11.6.4. Recent Developments
- 11.6.5. Strategies
- 11.6.6. Financials (Based on Availability)
- 11.7. Johnson Controls International (Ireland)
- 11.7.1. Overview
- 11.7.2. Products & services
- 11.7.3. SWOT Analysis
- 11.7.4. Recent Developments
- 11.7.5. Strategies
- 11.7.6. Financials (Based on Availability)
- 11.8. Leclanché SA (Switzerland)
- 11.8.1. Overview
- 11.8.2. Products & services
- 11.8.3. SWOT Analysis
- 11.8.4. Recent Developments
- 11.8.5. Strategies
- 11.8.6. Financials (Based on Availability)
- 11.9. Saft Groupe S.A. (France)
- 11.9.1. Overview
- 11.9.2. Products & services
- 11.9.3. SWOT Analysis
- 11.9.4. Recent Developments
- 11.9.5. Strategies
- 11.9.6. Financials (Based on Availability)
- 11.10. Siemens AG (Germany)
- 11.10.1. Overview
- 11.10.2. Products & services
- 11.10.3. SWOT Analysis
- 11.10.4. Recent Developments
- 11.10.5. Strategies
- 11.10.6. Financials (Based on Availability)
- 11.11. Systems Sunlight SA (Greece)
- 11.11.1. Overview
- 11.11.2. Products & services
- 11.11.3. SWOT Analysis
- 11.11.4. Recent Developments
- 11.11.5. Strategies
- 11.11.6. Financials (Based on Availability)
- 11.12. Toshiba Corporation (Japan)
- 11.12.1. Overview
- 11.12.2. Products & services
- 11.12.3. SWOT Analysis
- 11.12.4. Recent Developments
- 11.12.5. Strategies
- 11.12.6. Financials (Based on Availability)
- 11.13. Wärtsilä Oyj Abp (Finland)
- 11.13.1. Overview
- 11.13.2. Products & services
- 11.13.3. SWOT Analysis
- 11.13.4. Recent Developments
- 11.13.5. Strategies
- 11.13.6. Financials (Based on Availability)
- 12.
Pricing
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