Marine Battery Market Forecasts to 2028 – Global Analysis By Ship Type (Commercial, Defense and Unmanned), By Battery Function (Dual Purpose Batteries, Deep Cycle Batteries and Starting Batteries), By Nominal Capacity, By Propulsion Type, By Ship Power, B

Marine Battery Market Forecasts to 2028 – Global Analysis By Ship Type (Commercial, Defense and Unmanned), By Battery Function (Dual Purpose Batteries, Deep Cycle Batteries and Starting Batteries), By Nominal Capacity, By Propulsion Type, By Ship Power, By Battery Design, By Battery Type, By Energy Density, By Sales Channel and By Geography

According to Stratistics MRC, the Global Marine Battery Market is accounted for $0.45 billion in 2022 and is expected to reach $1.53 billion by 2028 growing at a CAGR of 22.5% during the forecast period. The marine battery serves as the primary or secondary power source for the boat and uses chemical energy to operate a variety of devices like illumination, a windlass, depth finders, and fish finders. Marine batteries are well-made and contain heavier plate material. These batteries are made specifically to resist the shaking and pounding that can occur on any boat and are intended for usage on ships or vessels.

According to the Organisation for Economic Co-operation and Development (OECD), ocean shipping is the major transport mode for global trade, around 90% of traded goods are carried by sea, which is likely to supplement the growth curve of the market

Market Dynamics

Driver:

Rising maritime tourism and need for better marine infrastructure and connectivity

The growth of the marine industries, which is anticipated to generate significant revenues for developing and developed countries and is primarily dependent upon marine and coastal tourism, is mainly driven by the high demand for maritime tourism and the need for better marine infrastructure and connectivity. Increased maritime and coastal tourism depends heavily on improved infrastructure and connectivity. Governments all over the world optimise their seaborne economic policies to offer marine tourism that is friendly to the environment and has improved connectivity to various ports.

Restraint

High initial cost, limit of capacity and range by battery powered vessels

Due to the installation of essential storage capacity and battery size, which restricts the range of the electric propelled vessels, electric propulsion systems have higher initial costs than traditional propulsion systems. Because of the greater range and capacity of traditional marine fuels and propulsion systems, battery technology in the marine sector has a long way to go before being mature. Moreover, corrosion is a major cause of failure for electronic components, which requires the use of specialist coatings, treatment, and highly skilled personnel.

Opportunity

Increase in maritime trade

According to a study on maritime supply chain optimisation, marine transportation is critical to global trade. 90% of all commodities are traded via maritime routes. Due to the ongoing COVID-19 pandemic, the U.S.-China trade war, and the palpable churning of geoeconomics and geopolitics, seaborne trade has been severely impacted. During the predicted period, these variables will require governments all over the world to evaluate, reorganise, and deploy alternative marine power and propulsion technologies. It is projected that a different global supply chain would increase the number of ships operating globally and update the fleet of ships in operation.

Threat

Insufficient charging infrastructure

The marine battery sector is experiencing significant obstacles due to inadequate port charging infrastructure. Larger ships have more difficulty storing energy or powering their systems than smaller ships. For large ships to receive a consistent power supply, multiple cables are needed. Installing 15-20 heavy cables is neither time-efficient nor practical, especially for ships that are berthed for short periods of time. Vessels need additional infrastructure both onshore (port side) and onboard. Voltage, frequency, and earthing needs for vessels are not fulfilled by electrical power supplied by onshore systems.

Covid-19 Impact:

The COVID-19's impact on the marine battery market is unpredictable, and it is anticipated that it will be in effect for a period of time. Because of the COVID-19 outbreak, most of 2020 and a small portion of 2021 witnessed strict lockdowns and export and import bans on commodities that were necessary for producing raw materials. This caused the availability of crucial raw materials for marine batteries to suddenly decline. Boat and engine manufacturers suffered significant losses in the first and second quarters of 2020 as a result of the COVID-19 pandemic's disruption of supply chains and production schedules. Furthermore, a widespread lockdown compelled facilities that built parts to partially or completely shut down operations.

The commercial segment is expected to be the largest during the forecast period

Throughout the forecast period, the commercial segment is expected to grow at a robust pace. The increase in maritime tourism, adjustments to government policies to enhance the seaborne economy, replacement of the existing fleet's propulsion system with electric propulsion under IMO 2020's ECAS, and an increase in demand for marine services across commercial sectors like deep-sea mining, energy and infrastructure, oil, and gas are all credited with driving the market growth. Also, the business sector has witnessed a considerable increase in the usefulness of battery technology, which is expected to continue during the projected period.

The Lithium segment is expected to have the highest CAGR during the forecast period

Because of the expanding maritime traffic and rising demand for commercial vessels with electric propulsion, the lithium-ion battery segment is anticipated to increase substantially during the projected period. In comparison to lead-acid batteries, these marine batteries are lighter, more effective, and have a lifespan that can be increased by up to ten times. The batteries offer a variety of benefits, including longer run durations, increased safety, higher discharge rates, and reduced maintenance. Between 3000 and 5000 cycles can be found during the life of a lithium marine battery. However, these batteries are smaller, lighter, and have a higher storage capacity.

Region with largest share

Throughout the anticipated period, the market will expand substantially in North America as the growth of battery-powered marine vessels for commercial, governmental, and defence utilities, as well as high demand for these batteries across North America for leisure boats and recreational applications, are driving the development of the market. Additionally, government agencies like NOAA are increasingly adopting electric propulsion.

Region with highest CAGR

Due to its large number of commercial marine vessel operators, market participants, and extensive supply chain network, Europe will experience the highest CAGR worldwide throughout the projection period. The acquisition of cutting-edge electric propulsion systems for forthcoming marine boats from industry participants like Wartsila, Akasol AG, Echandia AB, Siemens, Leclanche SA, and others. The market is expanding as a result of the expansion of maritime tourism and the use of electric propulsion in a variety of marine applications.

Key players in the market

Some of the key players in Marine Battery market include Toshiba Corporation, Siemens, Everexceed Industrial Co., Ltd, Lifeline Batteries Inc., Spear Power Systems, Exide Industries Ltd, Akasol AG, Furukawa Battery Solutions Co. Ltd., G.S. Yuasa Corporation, HBL Power Systems Ltd, Johnson Controls International, Systems Sunlight SA and BorgWarner Inc..

Key Developments

In October 2022, ABS signed a cooperation agreement with Contemporary Amperex Technology Co., Limited (CATL) to work together and research lithium battery propulsion for next-generation vessels. Under the agreement, the two companies would carry out research on the technical standards for battery-powered vessels, which includes key safety-related technologies such as the charging system, power battery compartment layout, propulsion system, and fire control.

In January 2022, Vision Marine Technologies entered a partnership with Octillion Power Systems, a battery supplier, to develop a custom high-voltage 35 kW battery pack exclusively for use in the recreational boating market.

In September 2021, Wartsila was awarded a contract by Zero Emissions Services BV (ZES) to deliver Warsila's mobile battery container solution to enable the Netherland's inland waterway vessels.

Ship Types Covered:
• Commercial
• Defense
• Unmanned

Battery Functions Covered:
• Dual Purpose Batteries
• Deep Cycle Batteries
• Starting Batteries

Nominal Capacities Covered:
• <100 AH
• 100-250 AH
• >250 AH

Propulsion Types Covered:
• Conventional
• Hybrid
• Fully Electric

Ship Powers Covered:
• <75 KW
• 75-150 KW
• 150-745 KW
• 740-7,560 KW
• >7,560 KW

Battery Designs Covered:
• Liquid/Gel Based
• Solid State

Battery Types Covered:
• Lead Acid
• Lithium
• Nickel Cadmium
• Fuel Cells
• Sodium ION

Energy Densities Covered:
• <100 WH/KG
• 100-500 WH/KG
• >500 WH/KG

Sales Channels Covered:
• Aftermarket
• Original Equipment Manufacturer (OEM)

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements


1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Emerging Markets
3.7 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Marine Battery Market, By Ship Type
5.1 Introduction
5.2 Commercial
5.2.1 Passenger Vehicles
5.2.1.1 Yachts
5.2.1.2 Cruise Ships
5.2.1.3 Ferries
5.2.2 Cargo Vessels
5.2.2.1 Gas Tankers
5.2.2.2 Bulk Carriers
5.2.2.3 Container Vessels
5.2.2.4 Tankers
5.2.2.5 Barges
5.2.2.6 Dry Cargo Ships
5.2.3 Other Commercials
5.2.3.1 Tugs and Workboats
5.2.3.2 Dredgers
5.2.3.3 Research Vessels
5.2.3.4 Fishing Vessels
5.3 Defense
5.3.1 Frigates
5.3.2 Destroyers
5.3.3 Amphibious Ships
5.3.4 Corvettes
5.3.5 Offshore Support Vessels (OSVS)
5.3.6 Submarines
5.3.7 Minesweepers
5.3.8 Missle Carrying Boats and Supply Boats
5.4 Unmanned
5.4.1 Autonomous Underwater Vehicles (AUVS)
5.4.2 Remotely Operated Vehicles (ROVS)
6 Global Marine Battery Market, By Battery Function
6.1 Introduction
6.2 Dual Purpose Batteries
6.3 Deep Cycle Batteries
6.4 Starting Batteries
7 Global Marine Battery Market, By Nominal Capacity
7.1 Introduction
7.2 <100 AH
7.3 100-250 AH
7.4 >250 AH
8 Global Marine Battery Market, By Propulsion Type
8.1 Introduction
8.2 Conventional
8.3 Hybrid
8.4 Fully Electric
9 Global Marine Battery Market, By Ship Power
9.1 Introduction
9.2 <75 KW
9.3 75-150 KW
9.4 150-745 KW
9.5 740-7,560 KW
9.6 >7,560 KW
10 Global Marine Battery Market, By Battery Design
10.1 Introduction
10.2 Liquid/Gel Based
10.3 Solid State
11 Global Marine Battery Market, By Battery Type
11.1 Introduction
11.2 Lead Acid
11.2.1 Flooded
11.2.2 Absorbent Glass Mat (AGM)
11.3 Lithium
11.4 Nickel Cadmium
11.5 Fuel Cells
11.5.1 Carbon Based
11.5.2 Oxide Based
11.5.3 Ammonia Based
11.5.4 Hydrogen Based
11.6 Sodium ION
12 Global Marine Battery Market, By Energy Density
12.1 Introduction
12.2 <100 WH/KG
12.3 100-500 WH/KG
12.4 >500 WH/KG
13 Global Marine Battery Market, By Sales Channel
13.1 Introduction
13.2 Aftermarket
13.3 Original Equipment Manufacturer (OEM)
14 Global Marine Battery Market, By Geography
14.1 Introduction
14.2 North America
14.2.1 US
14.2.2 Canada
14.2.3 Mexico
14.3 Europe
14.3.1 Germany
14.3.2 UK
14.3.3 Italy
14.3.4 France
14.3.5 Spain
14.3.6 Rest of Europe
14.4 Asia Pacific
14.4.1 Japan
14.4.2 China
14.4.3 India
14.4.4 Australia
14.4.5 New Zealand
14.4.6 South Korea
14.4.7 Rest of Asia Pacific
14.5 South America
14.5.1 Argentina
14.5.2 Brazil
14.5.3 Chile
14.5.4 Rest of South America
14.6 Middle East & Africa
14.6.1 Saudi Arabia
14.6.2 UAE
14.6.3 Qatar
14.6.4 South Africa
14.6.5 Rest of Middle East & Africa
15 Key Developments
15.1 Agreements, Partnerships, Collaborations and Joint Ventures
15.2 Acquisitions & Mergers
15.3 New Product Launch
15.4 Expansions
15.5 Other Key Strategies
16 Company Profiling
16.1 Toshiba Corporation
16.2 Siemens
16.3 Everexceed Industrial Co., Ltd
16.4 Lifeline Batteries Inc.
16.5 Spear Power Systems
16.6 Exide Industries Ltd
16.7 Akasol AG
16.8 Furukawa Battery Solutions Co. Ltd.
16.9 G.S. Yuasa Corporation
16.10 HBL Power Systems Ltd
16.11 Johnson Controls International
16.12 Systems Sunlight SA
16.13 BorgWarner Inc.
List of Tables
Table 1 Global Marine Battery Market Outlook, By Region (2020-2028) ($MN)
Table 2 Global Marine Battery Market Outlook, By Ship Type (2020-2028) ($MN)
Table 3 Global Marine Battery Market Outlook, By Commercial (2020-2028) ($MN)
Table 4 Global Marine Battery Market Outlook, By Passenger Vehicles (2020-2028) ($MN)
Table 5 Global Marine Battery Market Outlook, By Cargo Vessels (2020-2028) ($MN)
Table 6 Global Marine Battery Market Outlook, By Other Commercials (2020-2028) ($MN)
Table 7 Global Marine Battery Market Outlook, By Defense (2020-2028) ($MN)
Table 8 Global Marine Battery Market Outlook, By Frigates (2020-2028) ($MN)
Table 9 Global Marine Battery Market Outlook, By Destroyers (2020-2028) ($MN)
Table 10 Global Marine Battery Market Outlook, By Amphibious Ships (2020-2028) ($MN)
Table 11 Global Marine Battery Market Outlook, By Corvettes (2020-2028) ($MN)
Table 12 Global Marine Battery Market Outlook, By Offshore Support Vessels (OSVS) (2020-2028) ($MN)
Table 13 Global Marine Battery Market Outlook, By Submarines (2020-2028) ($MN)
Table 14 Global Marine Battery Market Outlook, By Minesweepers (2020-2028) ($MN)
Table 15 Global Marine Battery Market Outlook, By Missle Carrying Boats and Supply Boats (2020-2028) ($MN)
Table 16 Global Marine Battery Market Outlook, By Unmanned (2020-2028) ($MN)
Table 17 Global Marine Battery Market Outlook, By Autonomous Underwater Vehicles (AUVS) (2020-2028) ($MN)
Table 18 Global Marine Battery Market Outlook, By Remotely Operated Vehicles (ROVS) (2020-2028) ($MN)
Table 19 Global Marine Battery Market Outlook, By Battery Function (2020-2028) ($MN)
Table 20 Global Marine Battery Market Outlook, By Dual Purpose Batteries (2020-2028) ($MN)
Table 21 Global Marine Battery Market Outlook, By Deep Cycle Batteries (2020-2028) ($MN)
Table 22 Global Marine Battery Market Outlook, By Starting Batteries (2020-2028) ($MN)
Table 23 Global Marine Battery Market Outlook, By Nominal Capacity (2020-2028) ($MN)
Table 24 Global Marine Battery Market Outlook, By <100 AH (2020-2028) ($MN)
Table 25 Global Marine Battery Market Outlook, By 100-250 AH (2020-2028) ($MN)
Table 26 Global Marine Battery Market Outlook, By >250 AH (2020-2028) ($MN)
Table 27 Global Marine Battery Market Outlook, By Propulsion Type (2020-2028) ($MN)
Table 28 Global Marine Battery Market Outlook, By Conventional (2020-2028) ($MN)
Table 29 Global Marine Battery Market Outlook, By Hybrid (2020-2028) ($MN)
Table 30 Global Marine Battery Market Outlook, By Fully Electric (2020-2028) ($MN)
Table 31 Global Marine Battery Market Outlook, By Ship Power (2020-2028) ($MN)
Table 32 Global Marine Battery Market Outlook, By <75 KW (2020-2028) ($MN)
Table 33 Global Marine Battery Market Outlook, By 75-150 KW (2020-2028) ($MN)
Table 34 Global Marine Battery Market Outlook, By 150-745 KW (2020-2028) ($MN)
Table 35 Global Marine Battery Market Outlook, By 740-7,560 KW (2020-2028) ($MN)
Table 36 Global Marine Battery Market Outlook, By >7,560 KW (2020-2028) ($MN)
Table 37 Global Marine Battery Market Outlook, By Battery Design (2020-2028) ($MN)
Table 38 Global Marine Battery Market Outlook, By Liquid/Gel Based (2020-2028) ($MN)
Table 39 Global Marine Battery Market Outlook, By Solid State (2020-2028) ($MN)
Table 40 Global Marine Battery Market Outlook, By Battery Type (2020-2028) ($MN)
Table 41 Global Marine Battery Market Outlook, By Lead Acid (2020-2028) ($MN)
Table 42 Global Marine Battery Market Outlook, By Flooded (2020-2028) ($MN)
Table 43 Global Marine Battery Market Outlook, By Absorbent Glass Mat (AGM) (2020-2028) ($MN)
Table 44 Global Marine Battery Market Outlook, By Lithium (2020-2028) ($MN)
Table 45 Global Marine Battery Market Outlook, By Nickel Cadmium (2020-2028) ($MN)
Table 46 Global Marine Battery Market Outlook, By Fuel Cells (2020-2028) ($MN)
Table 47 Global Marine Battery Market Outlook, By Carbon Based (2020-2028) ($MN)
Table 48 Global Marine Battery Market Outlook, By Oxide Based (2020-2028) ($MN)
Table 49 Global Marine Battery Market Outlook, By Ammonia Based (2020-2028) ($MN)
Table 50 Global Marine Battery Market Outlook, By Hydrogen Based (2020-2028) ($MN)
Table 51 Global Marine Battery Market Outlook, By Sodium ION (2020-2028) ($MN)
Table 52 Global Marine Battery Market Outlook, By Energy Density (2020-2028) ($MN)
Table 53 Global Marine Battery Market Outlook, By <100 WH/KG (2020-2028) ($MN)
Table 54 Global Marine Battery Market Outlook, By 100-500 WH/KG (2020-2028) ($MN)
Table 55 Global Marine Battery Market Outlook, By >500 WH/KG (2020-2028) ($MN)
Table 56 Global Marine Battery Market Outlook, By Sales Channel (2020-2028) ($MN)
Table 57 Global Marine Battery Market Outlook, By Aftermarket (2020-2028) ($MN)
Table 58 Global Marine Battery Market Outlook, By Original Equipment Manufacturer (OEM) (2020-2028) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.

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