Marine Battery Market Size, Current Trends, Active Key Players, and Growth Projection Up to 2030

Marine Battery Market

Depending on function, the dual-purpose segment is projected to lead the global marine battery market.

WILMINGTON, NEW CASTLE, DE, UNITED STATES, October 1, 2024 /EINPresswire.com/ -- Rise in demand for marine freight transportation vessels, advantage of lithium-ion battery over lead-acid batteries, and increase in water sports & leisure activities drive the growth of the global 𝐌𝐚𝐫𝐢𝐧𝐞 𝐁𝐚𝐭𝐭𝐞𝐫𝐲 𝐌𝐚𝐫𝐤𝐞𝐭. However, limited range and capacity of fully electric ships and maintenance & protection of batteries hinder the market growth. On the other hand, surge in automation in marine transportation and rise in adoption of hybrid & fully electric vessels present new opportunities in the coming years.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 𝐍𝐨𝐰: https://www.alliedmarketresearch.com/request-sample/A10029

The prominent factors that drive the growth of the marine battery market include rise in the global trade and increase in adoption of lithium ion battery. Moreover, increase in water sports and leisure activities propels the growth of the marine battery market. The countries such as China, India, and Brazil are growing economies. Thus, the shipbuilding and marine component manufacturing sector is witnessing prominent growth in these countries, which is expected to provide lucrative opportunities for the growth of the marine battery market in the region.

𝐓𝐡𝐞 𝐤𝐞𝐲 𝐩𝐥𝐚𝐲𝐞𝐫𝐬 𝐩𝐫𝐨𝐟𝐢𝐥𝐞𝐝 𝐢𝐧 𝐭𝐡𝐢𝐬 𝐫𝐞𝐩𝐨𝐫𝐭 𝐢𝐧𝐜𝐥𝐮𝐝𝐞

Akasol AG
EnerSys
Toshiba Corporation
Siemens
Leclanché SA
Saft
Echandia AB
EverExceed Industrial Co,
Lifeline Batteries Inc
Spear Power Systems

𝐁𝐮𝐲 𝐍𝐨𝐰 𝐭𝐡𝐞 𝐄𝐱𝐜𝐥𝐮𝐬𝐢𝐯𝐞 𝐑𝐞𝐩𝐨𝐫𝐭: https://www.alliedmarketresearch.com/checkout-final/b07967ab973bf94892cc7e3fd23c150f

By battery type, the marine battery market size is segregated into lithium, lead acid, and others. The lead acid segment accounted for the highest revenue in 2020, as lead acid batteries is widely adopted across various marine vessels due to their cost-effectiveness.

Based on ship type, the commercial segment accounted for the largest share in 2020, contributing to more than three-fourths of the global marine battery market, and is projected to maintain its lead position during the forecast period. This is due to increase in water sport activities and rise in demand for marine transportation across the globe. However, the defense segment is expected to portray the largest CAGR of 24.9% from 2021 to 2030, owing to increasing demand naval force modernization across the globe.

Based on battery type, the lead acid segment held the highest market share in 2020, accounting for nearly half of the global marine battery market, and is estimated to maintain its leadership status throughout the forecast period. Metal bolts are extensively used in construction & automotive industry, owing to its increasing use in electric and hybrid ships. Moreover, the lithium segment is projected to manifest the highest CAGR of 22.5% from 2021 to 2030, as its widely used across all marine vessels owing to its cost effectiveness

𝐆𝐞𝐭 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐞𝐝 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐰𝐢𝐭𝐡 𝐲𝐨𝐮’𝐫𝐞 𝐑𝐞𝐪𝐮𝐢𝐫𝐞𝐦𝐞𝐧𝐭𝐬: https://www.alliedmarketresearch.com/request-for-customization/A10029

Europe dominates the market, in terms of revenue, followed by North America, Asia-Pacific, and LAMEA. Europe is expected to maintain its dominance in the global market, as the region is one of the largest markets for marine/shipping. Moreover, surge in demand for electric and hybrid ships is driving the growth of this market.

𝐈𝐧𝐭𝐞𝐫𝐞𝐬𝐭𝐞𝐝 𝐭𝐨 𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐭𝐡𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭? 𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠: https://www.alliedmarketresearch.com/purchase-enquiry/A10029

Based on region, Europe, followed by North America, held the highest market share in terms of revenue 2020, accounting for nearly half of the global marine battery market. Increase in use of automated technology in marine vessels is propelling the growth of marine battery market in the region. Moreover, the Asia-Pacific region is expected to witness the fastest CAGR of 22.1% during the forecast period, owing to increasing shipbuilding industry and increasing use of electric ships in the region.

𝐂𝐡𝐞𝐜𝐤 𝐨𝐮𝐭 𝐦𝐨𝐫𝐞 𝐫𝐞𝐥𝐚𝐭𝐞𝐝 𝐬𝐭𝐮𝐝𝐢𝐞𝐬 𝐩𝐮𝐛𝐥𝐢𝐬𝐡𝐞𝐝 𝐛𝐲 𝐀𝐌𝐑 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡:

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David Correa
Allied Market Research
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