Global Submarine Battery Market 2016-2020
Submarines are crucial in a naval fleet due to their multi-operational capabilities and ability to complement other strategic resources. The global submarine market declined drastically in 1991 — toward the end of the Cold War period. Since then, Brazil, Russia, India, and China (BRIC) and other developing countries of APAC are investing in the submarine market to strengthen their naval capabilities.
Technavio’s analysts forecast the global submarine battery market to grow at a CAGR of 5.28% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global submarine battery market for 2016-2020. To calculate the market size, the report considers the total number of submarines, segmentation by submarine type and average unit price.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Submarine Battery Market 2016-2020
Technavio recognizes the following companies as the key players in the global submarine battery market: EnerSys, EverExceed, Exide Technologies, HBL Power Systems, and Sunlight Systems.
Other Prominent Vendors in the market are: Exide Industries, GS Yuasa, and Saft.
Commenting on the report, an analyst from Technavio’s team said: “Increased demand from China will be a key trend for market growth. China’s demand for submarines has been growing owing to the country’s Taiwan dilemma. Resolving this issue has been the prime concern of the People’s Liberation Army (PLA). Due to this, PLA Navy’s (PLAN) prioritized heavily on the construction of Type-39A Yuan class conventional submarines (SSK). Between 2010 and 2011, PLAN launched 8 Yuan-class submarines and in 2012, they laid down five new Yuan-class. Currently, there are 13 Yuan-class in service, and seven more are in the construction phase. Within the next 5-8 years, APAC will have approximately 82 submarines.”
According to the report, rising investments in submarines will be a key driver for market growth. Many countries are modernizing their naval defense units by manufacturing submarines, surface-mine countermeasure unmanned underwater vehicles (SMCMUUVs), and other combat and tactical unmanned underwater vehicles (UUVs). The growth of these resources will simultaneously boost the global development of submarine battery market.
Further, the report states that recycling concerns over growing use of LAB will be a major challenge for the market. Lead is an extremely toxic metal, and as soon as the battery becomes inoperative, it is essential to ensure its appropriate collection and eco-friendly recycling. A single LAB disposed of erroneously into a municipal solid waste (MSW) collection system, and not removed before entering a resource recovery facility for mixed MSW, could foul 25 tons of MSW, hindering the recovery of the organic resources within this waste because of the high lead level.
EnerSys, EverExceed, Exide Technologies, HBL Power Systems, Sunlight Systems, Exide Industries, GS Yuasa, Saft.