Global Marine Battery Market Size, Trends, and Growth Opportunity, By Battery Type (Lithium, Lead acid, and Others), By Ship Type (Commercial and Défense), By Function (Starting, Deep Cycle, and Dual Purpose), By Nominal Capacity (Less than 150 Ah, and More than 150 Ah), By Sales Channel (OEM and Aftermarket), Regional Outlook, Competitive Market Share & Forecast, 2022 – 2027.
Global Marine Battery Market
Global Marine Battery Market was valued at USD 444 million in 2021 and is expected to reach USD 1,556 million by 2027, at a CAGR of 19.66% from 2022-2027.
Marine Battery is designed for boats, ships, and small vessels. These consist of robust construction with heavier plates that help in withstanding the pounding & vibration that can occur onboard. These marine batteries are more reliable and expensive compared to automobile batteries and are very tempting for boat owners to buy. There are 3 types of marine batteries: deep cycle batteries, marine starting batteries, and dual-purpose marine batteries.
Market Drivers
The rising demand for hybrid & electric passenger ships drives the marine battery market. The potential of the marine battery in the usage of passenger vessels is very high in comparison to other vessels. This drives the market further.
Furthermore, the growing investments in offshore wind energy shall drive the global sales volume since the industry is expanding rapidly. As investments in the sector continue to rise, the demand for marine batteries is expected to grow in the future.
Market Restraints
Marine batteries are different from traditional batteries and require specialized systems & mechanisms to develop effective & long-running batteries. The initial cost of investment for developing marine batteries is very high and small market vendors may find it difficult to compete with large-scale producers and suppliers. Also, this can delay higher adoption of marine batteries since the cost of maintenance is equally high and there is a significant lack in the availability of parts that help marine batteries run efficiently.
Market Segmentation
The Global Marine Battery Market is segmented into Battery Type, Ship Type, Function, Nominal Capacity, Sales Channel, and Region.
Based on Battery Type, the Global Marine Battery Market is segmented into Lithium, Lead acid, and Others. Further, based on Sales Channel, the market is segmented into OEM and Aftermarket.
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.
The European region dominates the marine battery market with the highest revenue share in 2022. The rapid technological advancements for developing advanced electric ships boost the demand for marine batteries.
Furthermore, the development of manufacturing industries, the commercial sector, the defence sector, and the maritime industry drives the market's growth in the region.
Key Players
Various key players are discussed in the Global Marine Battery Market Report including Wartsila, Akashi AG, Corvus Energy, Enchandia AB, Saft Total, Siemens, Leclanche SA, EnerSys, Echandia AB, and Spear Power Systems.
For instance, in October 2021, Electric Fuel, a manufacturer of professional-grade high-performance batteries, launched a new lithium-ion marine battery with 48V high energy density. The launch was announced at the METSTRADE 2021 show held in Amsterdam.
Market Taxonomy
By Battery Type
• Lithium
• Lead-acid
• Others
By Ship Type
• Commercial
• Défense
By Function
• Starting
• Deep Cycle
• Dual Purpose
By Nominal Capacity
• Less than 150 Ah
• More than 150 Ah
By Sales Channel
• OEM
• Aftermarket
By Region
• North America
• Latin America
• Europe
• Asia Pacific
• Middle East & Africa
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 Cumulative Impact Due To Recent Energy Crisis
4.2.5 Cumulative Impact Due Nearing Economic Downturn
4.2.6 Post Covid-19 World Supply and Demand Conditions
4.2.7 Cumulative Impact Of Russia-Ukraine Conflict
4.3 Porters Five Force Model
4.4 Value Chain Analysis
5 Global Marine Battery Market, By Battery Type
5.1 Y-o-Y Growth Comparison, By Battery Type
5.2 Global Marine Battery Market Share Analysis, By Battery Type
5.3 Global Marine Battery Market Size and Forecast, By Battery Type
5.3.1 Lithium
5.3.2 Lead acid
5.3.3 Others
6 Global Marine Battery Market, By Ship Type
6.1 Y-o-Y Growth Comparison, By Ship Type
6.2 Global Marine Battery Market Share Analysis, By Ship Type
6.3 Global Marine Battery Market Size and Forecast, By Ship Type
6.3.1 Commercial
6.3.2 Defense
7 Global Marine Battery Market, By Function
7.1 Y-o-Y Growth Comparison, By Function
7.2 Global Marine Battery Market Share Analysis, By Function
7.3 Global Marine Battery Market Size and Forecast, By Function
7.3.1 Starting
7.3.2 Deep Cycle
7.3.3 Dual Purpose
8 Global Marine Battery Market, By Nominal Capacity
8.1 Y-o-Y Growth Comparison, By Nominal Capacity
8.2 Global Marine Battery Market Share Analysis, By Nominal Capacity
8.3 Global Marine Battery Market Size and Forecast, By Nominal Capacity
8.3.1 Less than 150 Ah
8.3.2 More than 150 Ah
9 Global Marine Battery Market, By Sales Channel
9.1 Y-o-Y Growth Comparison, By Sales Channel
9.2 Global Marine Battery Market Share Analysis, By Sales Channel
9.3 Global Marine Battery Market Size and Forecast, By Sales Channel
9.3.1 OEM
9.3.2 Aftermarket
10 Global Marine Battery Market, By Region
10.1 Global Marine Battery Market Share Analysis, By Region
10.2 Global Marine Battery Market Share Analysis, By Region
10.3 Global Marine Battery Market Size and Forecast, By Region
11 North America Marine Battery Market Analysis and Forecast (2022-2027)
11.1 Introduction
11.2 North America Marine Battery Market Share Analysis, By Battery Type
11.3 North America Marine Battery Market Size and Forecast, By Ship Type
11.4 North America Marine Battery Market Size and Forecast, By Function
11.5 North America Marine Battery Market Size and Forecast, By Nominal Capacity
11.6 North America Marine Battery Market Size and Forecast, By Sales Channel
11.7 North America Marine Battery Market Size and Forecast, By Country
11.7.1 U.S.
11.7.2 Canada
11.7.3 Mexico
12 Europe Marine Battery Market Analysis and Forecast (2022-2027)
12.1 Introduction
12.2 Europe Marine Battery Market Share Analysis, By Battery Type
12.3 Europe Marine Battery Market Size and Forecast, By Ship Type
12.4 Europe Marine Battery Market Size and Forecast, By Function
12.5 Europe Marine Battery Market Size and Forecast, By Nominal Capacity
12.5 Europe Marine Battery Market Size and Forecast, By Sales Channel
12.7 Europe Marine Battery Market Size and Forecast, By Country
12.7.1 Germany
12.7.2 France
12.7.3 UK
12.7.4 Rest of Europe
13 Asia Pacific Marine Battery Market Analysis and Forecast (2022-2027)
13.1 Introduction
13.2 Asia Pacific Marine Battery Market Share Analysis, By Battery Type
13.3 Asia Pacific Marine Battery Market Size and Forecast, By Ship Type
13.4 Asia Pacific Marine Battery Market Size and Forecast, By Function
13.5 Asia Pacific Marine Battery Market Size and Forecast, By Nominal Capacity
13.6 Asia Pacific Marine Battery Market Size and Forecast, By Sales Channel
13.7 Asia Pacific Marine Battery Market Size and Forecast, By Country
13.7.1 China
13.7.2 Japan
13.7.3 India
13.7.4 Rest of Asia Pacific
14 Latin America Marine Battery Market Analysis and Forecast (2022-2027)
14.1 Introduction
14.2 Latin America Marine Battery Market Share Analysis, By Battery Type
14.3 Latin America Marine Battery Market Size and Forecast, By Ship Type
14.4 Latin America Marine Battery Market Size and Forecast, By Function
14.5 Latin America Marine Battery Market Size and Forecast, By Nominal Capacity
14.6 Latin America Marine Battery Market Size and Forecast, By Sales Channel
14.7 Latin America Marine Battery Market Size and Forecast, Country
14.7.1 Brazil
14.7.2 Rest of Latin America
15 Middle East Marine Battery Market Analysis and Forecast (2022-2027)
15.1 Introduction
15.2 Middle East Marine Battery Market Share Analysis, By Battery Type
15.3 Middle East Marine Battery Market Size and Forecast, By Ship Type
15.4 Middle East Marine Battery Market Size and Forecast, By Function
15.5 Middle East Marine Battery Market Size and Forecast, By Nominal Capacity
15.6 Middle East Marine Battery Market Size and Forecast, By Sales Channel
15.7 Middle East Marine Battery Market Size and Forecast, By Country
15.7.1 Saudi Arabia
15.7.2 UAE
15.7.3 Egypt
15.7.4 Kuwait
15.7.5 South Africa
16 Competitive Analysis
16.1 Competition Dashboard
16.2 Market share Analysis of Top Vendors
16.3 Key Development Strategies
17 Company Profiles
17.1 Wartsila
17.1.1 Overview
17.1.2 Offerings
17.1.3 Key Financials
17.1.4 Business Segment & Geographic Overview
17.1.5 Key Market Developments
17.1.6 Key Strategies
17.2 Akashi AG
17.2.1 Overview
17.2.2 Offerings
17.2.3 Key Financials
17.2.4 Business Segment & Geographic Overview
17.2.5 Key Market Developments
17.2.6 Key Strategies
17.3 Corvus Energy
17.3.1 Overview
17.3.2 Offerings
17.3.3 Key Financials
17.3.4 Business Segment & Geographic Overview
17.3.5 Key Market Developments
17.3.6 Key Strategies
17.4 Enchandia AB
17.4.1 Overview
17.4.2 Offerings
17.4.3 Key Financials
17.4.4 Business Segment & Geographic Overview
17.4.5 Key Market Developments
16.4.6 Key Strategies
17.5 Saft Total
17.5.1 Overview
17.5.2 Offerings
17.5.3 Key Financials
17.5.4 Business Segment & Geographic Overview
17.5.5 Key Market Developments
17.5.6 Key Strategies
17.6 Natera, Inc.
16.6.1 Overview
17.6.2 Offerings
17.6.3 Key Financials
17.6.4 Business Segment & Geographic Overview
17.6.5 Key Market Developments
17.6.6 Key Strategies
17.7 Siemens
17.7.1 Overview
17.7.2 Offerings
17.7.3 Key Financials
17.7.4 Business Segment & Geographic Overview
17.7.5 Key Market Developments
17.7.6 Key Strategies
17.8 Leclanche SA
17.8.1 Overview
17.8.2 Offerings
17.8.3 Key Financials
17.8.4 Business Segment & Geographic Overview
17.8.5 Key Market Developments
17.8.6 Key Strategies
17.9 EnerSys
17.9.1 Overview
17.9.2 Offerings
17.9.3 Key Financials
17.9.4 Business Segment & Geographic Overview
17.9.5 Key Market Developments
17.9.6 Key Strategies
17.10 Echandia AB
17.10.1 Overview
17.10.2 Offerings
17.10.3 Key Financials
17.10.4 Business Segment & Geographic Overview
17.10.5 Key Market Developments
17.10.6 Key Strategies
