Report ID : AMR1004158 | Industries : Semiconductors and Electronics | Published On :December 2023 | Page Count : 122
Global Marine Battery Market Size, Trends and Growth opportunity, 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 (Défense, Commercial), Regional Outlook, Competitive Market Share & Forecast, 2023 – 2030.
Global Marine Battery Market
The Global Marine Battery Market was valued at USD 629.80 million in 2022 and is expected to reach USD 2,295.80 million by 2030 at a CAGR of 13.73% from 2023-2030.
Marine batteries are designed to provide reliable power to boats and other marine end users. These batteries are built to withstand the harsh marine environment, including exposure to saltwater, vibration, and extreme temperatures. Marine starter batteries, also termed as marine cranking batteries or marine engine start batteries, are a type of lead-acid battery especially designed for the purpose of starting boat engines. They are engineered to deliver high-cranking amps and cold-cranking amps for quick engine ignition.
Market Drivers
A study on marine supply chain optimisation found that maritime transportation is crucial to global trade. Products are traded via maritime routes in about 90% of cases. The ongoing COVID-19 pandemic, the trade conflict between the United States and China, and the tangible churning of geoeconomics and geopolitics have all had a significant influence on seaborne trade. These elements are pressuring governments all over the world to review and reorganise the global supply chain and put alternative marine power and propulsion systems in place. It is projected that a different global supply chain would expand the fleet of ships that are currently in operation and modernise the current fleet.
There is a global push for cleaner energy sources due to growing worries about environmental degradation and climate change. The global marine battery market is driven by marine batteries, which provide a sustainable energy option for boats and ships by lowering ocean pollution and greenhouse gas emissions. Marine batteries are in high demand due to the rising popularity of electric and hybrid boats. Marine batteries are a viable option for these boats' need for dependable and effective energy storage systems. The development of sustainable energy technologies like marine batteries is being pushed by the numerous nations that have adopted legislation to cut emissions from ships. Incentives are also being provided by governments to promote the use of green technologies, which is helping to expand the industry.
Market Restraints
Marine batteries still do not have the same energy storage capacity as conventional fuels like petrol or diesel due to their low energy density. This may restrict their use in some high-power marine applications. The marine batteries' short lifespans are another element that can serve as a market limitation. Most marine batteries need to be replaced after a lifespan of three to five years.
The marine battery market faces significant obstacles due to inadequate port charging infrastructure. Larger ships have more difficulty storing energy or powering their systems than do smaller ships. For large ships to receive a consistent power supply, multiple cables are needed. Connecting 15-20 heavy cables is neither time-efficient nor practical, especially for ships that are berthed for brief periods of time. Voltage, frequency, and earthing standards for the electrical power supplied by onshore grids are not suitable for vessel needs. To guarantee a sufficient turnaround time, electric vessels would need high-voltage superchargers. Superchargers, however, put a heavy burden on local power networks, and most of them are unable to provide the necessary electricity in a timely manner. Because of this, the global marine battery market is constrained. The first completely electric ferry deployments need enough storage space to enable a quicker turnaround.
Impact Of COVID-19 On Market
Manufacturers of marine batteries have experienced supply chain disruption because to the COVID-19 outbreak. Production and delivery have been delayed because of a shortage of raw materials and components brought on by factory closures and transit constraints. The pandemic has resulted in a fall in demand for marine batteries due to a slowdown in the maritime industry and a decrease in worldwide trade. The market's expansion has also been hampered by a drop in demand. Investments in the marine battery business have decreased because of the epidemic. Investors are reluctant to make market investments due to the ambiguous economic climate.
The marine industry's transition to sustainable solutions has been sped up by the COVID-19 epidemic. The sector is currently concentrating on lowering its carbon footprint, which has increased demand for environmentally friendly and long-lasting marine batteries. The marine battery business has some room for expansion despite the difficulties the epidemic has brought about. In the post-pandemic period, the market is anticipated to develop because of factors such as the rising demand for electric boats and ships and the growing popularity of renewable energy sources.
Impact of Russia-Ukraine Conflict on Global Marine Battery Market
There are several unintended consequences of the crisis between Russia and Ukraine on the market for marine batteries worldwide. In the first place, it has heightened geopolitical tensions and instability in the area, raising worries about the security of oil supplies. Numerous nations have been compelled by this to step up their efforts to lessen their reliance on fossil fuels and move towards renewable energy sources.
Economic sanctions against Russia because of the conflict have had a knock-on effect on the world economy. The supply chains of numerous industries, including the marine battery market, have been impacted by the sanctions, which have made it more challenging for Russian businesses to conduct business with their counterparts in other nations. Oil prices have risen because of the conflict, increasing the cost of operating ships that use conventional fossil fuels. This has sped up the transition to electric propulsion systems and the use of marine batteries. Although the conflict has had some indirect effects on the marine battery business, these effects have been rather minor. This is since there is still a tiny market for marine batteries and that the conflict has not had a substantial effect on the supply or manufacture of marine batteries.
Market Segmentation
The Global Marine Battery Market is segmented into Battery, Capacity, Design, and Application.
Based on the Battery, Lithium-ion segment accounted for largest market share in 2022, and is anticipated to consolidate its position during the forecast period with CAGR 13.77%, owing to highest electrochemical potential.
Regional Analysis
The Global Marine Battery Market is segmented into five regions such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.
Based on region, Europe held the largest share in 2022 and it is expected to account for the highest CAGR of the marine battery market by 2030. Germany is expected to contribute higher value in the European marine battery market through 2022. Germany is estimated to have the largest maritime territory in the world and hybrid & electric passenger ships drives the marine battery market in the region.
Key Players
Various key players are discussed into the Global Marine Battery Market Report including: Akasol AG, EnerSys, Exide Industries Ltd., Furukawa Battery Solutions Co. Ltd., G.S. Yuasa Corporation, HBL Power Systems Ltd., Johnson Controls International, Leclanché SA., Siemens AG, and Saft Groupe S.A.
Market Taxonomy
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
• Défense
• Commercial
By Region
• North America
o U.S.
o Canada
o Mexico
• Latin America
o Brazil
o Argentina
o Colombia
o Peru
o Chile
o Venezuela
o Rest of Latin America
• Europe
o Germany
o France
o UK
o Russia
o Italy
o Spain
o Rest of Europe
• Asia Pacific
o China
o Japan
o India
o South Korea
o Australia
o New Zealand
o Singapore
o Malaysia
o Rest of Asia Pacific
• Middle East & Africa
o Saudi Arabia
o UAE
o Egypt
o Kuwait
o South Africa
o Rest Middle East & Africa
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Global Marine Battery Market
1 Introduction
1.1 Objective of the Study
1.2 Market Definition
1.3 Market Scope
2 Research Methodology
2.1 Data Mining
2.2 Validation
2.3 Primary Interviews
2.4 List of Data Sources
3 Executive Summary
4 Global Marine Battery Market Outlook
4.1 Overview
4.2 Market Dynamics
4.2.1 Drivers
4.2.2 Restraints
4.2.3 Opportunities
4.2.4 Impact Of COVID-19 On Market
4.2.5 Cumulative Impact Due to Recent Energy Crisis
4.2.6 Cumulative Impact Due to Nearing Economic Downturn
4.2.7 Post Covid-19 World Supply & Demand Conditions
4.2.8 Cumulative Impact of Russia-Ukraine Conflict
4.3 Porters Five Force Model
4.4 Value Chain Analysis
5 Global Marine Battery Market, By Battery
5.1 Y-o-Y Growth Comparison, By Battery
5.2 Global Marine Battery Market Share Analysis, By Battery
5.3 Global Marine Battery Market Size and Forecast, By Battery
5.3.1 Lithium-ion
5.3.2 Fuel Cell
5.3.3 Lead Acid Battery
5.3.4 Nickel Cadmium
5.3.5 Sodium-based
6 Global Marine Battery Market, By Capacity
6.1 Y-o-Y Growth Comparison, By Capacity
6.2 Global Marine Battery Market Share Analysis, By Capacity
6.3 Global Marine Battery Market Size and Forecast, By Capacity
6.3.1 Less than 100 Ah
6.3.2 100-250 Ah
6.3.3 Greater than 250 Ah
7 Global Marine Battery Market, By Design
7.1 Y-o-Y Growth Comparison, By Design
7.2 Global Marine Battery Market Share Analysis, By Design
7.3 Global Marine Battery Market Size and Forecast, By Design
7.3.1 Solid-state Battery
7.3.2 Flow Battery
8 Global Marine Battery Market, By Application
8.1 Y-o-Y Growth Comparison, By Application
8.2 Global Marine Battery Market Share Analysis, By Application
8.3 Global Marine Battery Market Size and Forecast, By Application
8.3.1 Défense
8.3.2 Commercial
9 Global Marine Battery Market, By Region
9.1 Global Marine Battery Market Share Analysis, By Region
9.2 Global Marine Battery Market Size and Forecast, By Region
9.3 Global Marine Battery Market Trends and Forecast, By Region
10 North America Marine Battery Market Analysis and Forecast (2023-2030)
10.1 Introduction
10.2 North America Marine Battery Market Size and Forecast, By Battery
10.3 North America Marine Battery Market Size and Forecast, By Capacity
10.4 North America Marine Battery Market Size and Forecast, By Design
10.5 North America Marine Battery Market Size and Forecast, By Application
10.6 North America Marine Battery Market Size and Forecast, By Country
10.6.1 U.S.
10.6.1.1 Market Size and Forecast, By Battery
10.6.1.2 Market Size and Forecast, By Capacity
10.6.1.3 Market Size and Forecast, By Design
10.6.1.4 Market Size and Forecast, By Application
10.6.2 Canada
10.6.2.1 Market Size and Forecast, By Battery
10.6.2.2 Market Size and Forecast, By Capacity
10.6.2.3 Market Size and Forecast, By Design
10.6.2.4 Market Size and Forecast, By Application
10.6.3 Mexico
10.6.3.1 Market Size and Forecast, By Battery
10.6.3.2 Market Size and Forecast, By Capacity
10.6.3.3 Market Size and Forecast, By Design
10.6.3.4 Market Size and Forecast, By Application
11 Europe Marine Battery Market Analysis and Forecast (2023-2030)
11.1 Introduction
11.2 Europe Marine Battery Market Size and Forecast, By Battery
11.3 Europe Marine Battery Market Size and Forecast, By Capacity
11.4 Europe Marine Battery Market Size and Forecast, By Design
11.5 Europe Marine Battery Market Size and Forecast, By Application
11.6 Europe Marine Battery Market Size and Forecast, By Country
11.6.1 Germany
11.6.1.1 Market Size and Forecast, By Battery
11.6.1.2 Market Size and Forecast, By Capacity
11.6.1.3 Market Size and Forecast, By Design
11.6.1.4 Market Size and Forecast, By Application
11.6.2 France
11.6.2.1 Market Size and Forecast, By Battery
11.6.2.2 Market Size and Forecast, By Capacity
11.6.2.3 Market Size and Forecast, By Design
11.6.2.4 Market Size and Forecast, By Application
11.6.3 UK
11.6.3.1 Market Size and Forecast, By Battery
11.6.3.2 Market Size and Forecast, By Capacity
11.6.3.3 Market Size and Forecast, By Design
11.6.3.4 Market Size and Forecast, By Application
11.6.4 Russia
11.6.4.1 Market Size and Forecast, By Battery
11.6.4.2 Market Size and Forecast, By Capacity
11.6.4.3 Market Size and Forecast, By Design
11.6.4.4 Market Size and Forecast, By Application
11.6.5 Italy
11.6.5.1 Market Size and Forecast, By Battery
11.6.5.2 Market Size and Forecast, By Capacity
11.6.5.3 Market Size and Forecast, By Design
11.6.5.4 Market Size and Forecast, By Application
11.6.6 Spain
11.6.6.1 Market Size and Forecast, By Battery
11.6.6.2 Market Size and Forecast, By Capacity
11.6.6.3 Market Size and Forecast, By Design
11.6.6.4 Market Size and Forecast, By Application
11.6.7 Rest of Europe
11.6.7.1 Market Size and Forecast, By Battery
11.6.7.2 Market Size and Forecast, By Capacity
11.6.7.3 Market Size and Forecast, By Design
11.6.7.4 Market Size and Forecast, By Application
12 Asia Pacific Marine Battery Market Analysis and Forecast (2023-2030)
12.1 Introduction
12.2 Asia Pacific Marine Battery Market Size and Forecast, By Battery
12.3 Asia Pacific Marine Battery Market Size and Forecast, By Capacity
12.4 Asia Pacific Marine Battery Market Size and Forecast, By Design
12.5 Asia Pacific Marine Battery Market Size and Forecast, By Application
12.6 Asia Pacific Marine Battery Market Size and Forecast, By Country
12.6.1 China
12.6.1.1 Market Size and Forecast, By Battery
12.6.1.2 Market Size and Forecast, By Capacity
12.6.1.3 Market Size and Forecast, By Design
12.6.1.4 Market Size and Forecast, By Application
12.6.2 Japan
12.6.2.1 Market Size and Forecast, By Battery
12.6.2.2 Market Size and Forecast, By Capacity
12.6.2.3 Market Size and Forecast, By Design
12.6.2.4 Market Size and Forecast, By Application
12.6.3 India
12.6.3.1 Market Size and Forecast, By Battery
12.6.3.2 Market Size and Forecast, By Capacity
12.6.3.3 Market Size and Forecast, By Design
12.6.3.4 Market Size and Forecast, By Application
12.6.4 South Korea
12.6.4.1 Market Size and Forecast, By Battery
12.6.4.2 Market Size and Forecast, By Capacity
12.6.4.3 Market Size and Forecast, By Design
12.6.4.4 Market Size and Forecast, By Application
12.6.5 Australia
12.6.5.1 Market Size and Forecast, By Battery
12.6.5.2 Market Size and Forecast, By Capacity
12.6.5.3 Market Size and Forecast, By Design
12.6.5.4 Market Size and Forecast, By Application
12.6.6 New Zealand
12.6.6.1 Market Size and Forecast, By Battery
12.6.6.2 Market Size and Forecast, By Capacity
12.6.6.3 Market Size and Forecast, By Design
12.6.6.4 Market Size and Forecast, By Application
12.6.7 Singapore
12.6.7.1 Market Size and Forecast, By Battery
12.6.7.2 Market Size and Forecast, By Capacity
12.6.7.3 Market Size and Forecast, By Design
12.6.7.4 Market Size and Forecast, By Application
12.6.8 Malaysia
12.6.8.1 Market Size and Forecast, By Battery
12.6.8.2 Market Size and Forecast, By Capacity
12.6.8.3 Market Size and Forecast, By Design
12.6.8.4 Market Size and Forecast, By Application
12.6.9 Rest of Asia
12.6.9.1 Market Size and Forecast, By Battery
12.6.9.2 Market Size and Forecast, By Capacity
12.6.9.3 Market Size and Forecast, By Design
12.6.9.4 Market Size and Forecast, By Application
13 Latin America Marine Battery Market Analysis and Forecast (2023-2030)
13.1 Introduction
13.2 Latin America Marine Battery Market Size and Forecast, By Battery
13.3 Latin America Marine Battery Market Size and Forecast, By Capacity
13.4 Latin America Marine Battery Market Size and Forecast, By Design
13.5 Latin America Marine Battery Market Size and Forecast, By Application
13.6 Latin America Marine Battery Market Size and Forecast, By Country
13.6.1 Brazil
13.6.1.1 Market Size and Forecast, By Battery
13.6.1.2 Market Size and Forecast, By Capacity
13.6.1.3 Market Size and Forecast, By Design
13.6.1.4 Market Size and Forecast, By Application
13.6.2 Argentina
13.6.2.1 Market Size and Forecast, By Battery
13.6.2.2 Market Size and Forecast, By Capacity
13.6.2.3 Market Size and Forecast, By Design
13.6.2.4 Market Size and Forecast, By Application
13.6.3 Colombia
13.6.3.1 Market Size and Forecast, By Battery
13.6.3.2 Market Size and Forecast, By Capacity
13.6.3.3 Market Size and Forecast, By Design
13.6.3.4 Market Size and Forecast, By Application
13.6.4 Peru
13.6.4.1 Market Size and Forecast, By Battery
13.6.4.2 Market Size and Forecast, By Capacity
13.6.4.3 Market Size and Forecast, By Design
13.6.4.4 Market Size and Forecast, By Application
13.6.5 Chile
13.6.5.1 Market Size and Forecast, By Battery
13.6.5.2 Market Size and Forecast, By Capacity
13.6.5.3 Market Size and Forecast, By Design
13.6.5.4 Market Size and Forecast, By Application
13.6.6 Venezuela
13.6.6.1 Market Size and Forecast, By Battery
13.6.6.2 Market Size and Forecast, By Capacity
13.6.6.3 Market Size and Forecast, By Design
13.6.6.4 Market Size and Forecast, By Application
13.6.7 Rest of Latin America
13.6.7.1 Market Size and Forecast, By Battery
13.6.7.2 Market Size and Forecast, By Capacity
13.6.7.3 Market Size and Forecast, By Design
13.6.7.4 Market Size and Forecast, By Application
14 Middle East Marine Battery Market Analysis and Forecast (2023-2030)
14.1 Introduction
14.2 Middle East Marine Battery Market Size and Forecast, By Battery
14.3 Middle East Marine Battery Market Size and Forecast, By Capacity
14.4 Middle East Marine Battery Market Size and Forecast, By Design
14.5 Middle East Marine Battery Market Size and Forecast, By Application
14.6 Middle East Marine Battery Market Size and Forecast, By Country
14.6.1 Saudi Arabia
14.6.1.1 Market Size and Forecast, By Battery
14.6.1.2 Market Size and Forecast, By Capacity
14.6.1.3 Market Size and Forecast, By Design
14.6.1.4 Market Size and Forecast, By Application
14.6.2 UAE
14.6.2.1 Market Size and Forecast, By Battery
14.6.2.2 Market Size and Forecast, By Capacity
14.6.2.3 Market Size and Forecast, By Design
14.6.2.4 Market Size and Forecast, By Application
14.6.3 Egypt
14.6.3.1 Market Size and Forecast, By Battery
14.6.3.2 Market Size and Forecast, By Capacity
14.6.3.3 Market Size and Forecast, By Design
14.6.3.4 Market Size and Forecast, By Application
14.6.4 Kuwait
14.6.4.1 Market Size and Forecast, By Battery
14.6.4.2 Market Size and Forecast, By Capacity
14.6.4.3 Market Size and Forecast, By Design
14.6.4.4 Market Size and Forecast, By Application
14.6.5 South Africa
14.6.5.1 Market Size and Forecast, By Battery
14.6.5.2 Market Size and Forecast, By Capacity
14.6.5.3 Market Size and Forecast, By Design
14.6.5.4 Market Size and Forecast, By Application
14.6.6 Rest of Middle East & Africa
14.6.6.1 Market Size and Forecast, By Battery
14.6.6.2 Market Size and Forecast, By Capacity
14.6.6.3 Market Size and Forecast, By Design
14.6.6.4 Market Size and Forecast, By Application
15 Competitive Analysis
15.1 Competition Dashboard
15.2 Key Development Strategies
16 Company Profiles
16.1 Akasol AG.
16.1.1 Overview
16.1.2 Offerings
16.1.3 Key Financials
16.1.4 Business Segment & Geographic Overview
16.1.5 Key Market Developments
16.1.6 Key Strategies
16.2 EnerSys
16.2.1 Overview
16.2.2 Offerings
16.2.3 Key Financials
16.2.4 Business Segment & Geographic Overview
16.2.5 Key Market Developments
16.2.6 Key Strategies
16.3 Exide Industries Ltd.
16.3.1 Overview
16.3.2 Offerings
16.3.3 Key Financials
16.3.4 Business Segment & Geographic Overview
16.3.5 Key Market Developments
16.3.6 Key Strategies
16.4 Furukawa Battery Solutions Co. Ltd.
16.4.1 Overview
16.4.2 Offerings
16.4.3 Key Financials
16.4.4 Business Segment & Geographic Overview
16.4.5 Key Market Developments
16.4.6 Key Strategies
16.5 G.S. Yuasa Corporation
16.5.1 Overview
16.5.2 Offerings
16.5.3 Key Financials
16.5.4 Business Segment & Geographic Overview
16.5.5 Key Market Developments
16.5.6 Key Strategies
16.6 HBL Power Systems Ltd.
16.6.1 Overview
16.6.2 Offerings
16.6.3 Key Financials
16.6.4 Business Segment & Geographic Overview
16.6.5 Key Market Developments
16.6.6 Key Strategies
16.7 Johnson Controls International
16.7.1 Overview
16.7.2 Offerings
16.7.3 Key Financials
16.7.4 Business Segment & Geographic Overview
16.7.5 Key Market Developments
16.7.6 Key Strategies
16.8 Leclanché SA.
16.8.1 Overview
16.8.2 Offerings
16.8.3 Key Financials
16.8.4 Business Segment & Geographic Overview
16.8.5 Key Market Developments
16.8.6 Key Strategies
16.9 Siemens AG
16.9.1 Overview
16.9.2 Offerings
16.9.3 Key Financials
16.9.4 Business Segment & Geographic Overview
16.9.5 Key Market Developments
16.9.6 Key Strategies
16.10 Saft Groupe S.A.
16.10.1 Overview
16.10.2 Offerings
16.10.3 Key Financials
16.10.4 Business Segment & Geographic Overview
16.10.5 Key Market Developments
16.10.6 Key Strategies
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