Marine Battery Market Will Reach USD 1.99 Billion In 2030 Registering A CAGR of 20.5% - Valuates Reports
BANGALORE, India, April 4, 2022 /PRNewswire/ -- Marine Battery Market is segmented by Battery Type (Lithium, Lead acid, and Others), Ship Type (Commercial and Defense), Function (Starting, Deep Cycle, and Dual Purpose), Nominal Capacity (Less than 150 Ah, and More than 150 Ah), Sales Channel (OEM and Aftermarket), and Battery Density (<100 WH/KG and More than 100 WH/KG). Global Opportunity Analysis and Industry Forecast 2022 - 2028. It is published in Valuates Reports under the Energy & Utilities Category.
The global Marine Battery Market was valued at USD 0.37 billion in 2021 and is projected to reach USD 1.99 billion in 2030, registering a CAGR of 20.5%.
Major Factors Driving The Growth Of The Marine Battery Market Are
The marine battery market is expected to grow due to factors such as an increase in demand for marine freight transportation vessels, the advantages of lithium-ion batteries over lead-acid batteries, and an increase in water sports and leisure activities.
On the other hand, the rise in adoption of hybrid and fully electric vessels, as well as increased automation in marine transportation, are expected to provide lucrative growth opportunities for market players.
Browse The Table Of Contents And List Of Figures At https://reports.valuates.com/reports/ALLI-Manu-1N63/marine-battery
TRENDS INFLUENCING THE MARINE BATTERY MARKET GROWTH
An increase in demand for marine freight transportation vessels is expected to drive the marine battery market. Because of its cost-effectiveness, marine transportation is one of the most popular modes of transportation, particularly for freight transportation. Seaborne trade has seen significant growth in recent years.
Due to their cost-effectiveness, lead-acid batteries are currently the most widely used in marine vessels for various applications such as engine start-stop and lighting. Furthermore, these batteries are widely available in a variety of off-the-shelf pack sizes, so there's no need to worry about running out. Lithium-ion batteries have become increasingly popular for marine applications in recent years because they have the highest electrochemical potential, which means they can generate higher battery voltage than other batteries. Lithium-ion batteries have a very low resistance, which allows for much faster charging with very little loss. This factor is expected to drive the growth of the marine battery market.
To comply with the International Maritime Organization 2020 (IMO 2020) mandate, which mandates a maximum sulfur content of 0.5 percent in marine fuels, shipbuilding companies and operators are moving toward emission-free transportation. As a result, the marine industry is seeing an increase in the use of hybrid and electric propulsion in both existing and newbuild ships. This in turn is expected to drive the growth of the marine battery market.
Furthermore, Hybrid propulsion technology is currently best suited to small vessels like ferries and cruise ships. However, as marine electric propulsion technology and alternative fuels such as fuel cells advance, manufacturers will have a huge opportunity in the marine battery market.
Get Your Sample Today: https://reports.valuates.com/request/sample/ALLI-Manu-1N63/Marine_Battery_Market
MARINE BATTERY MARKET SHARE ANALYSIS
Based on battery type, The lithium segment of the battery market is expected to grow significantly over the forecast period.
Based on ship type, The defense sector is expected to grow significantly in the future.
Based on function, The global marine battery market is expected to be led by the dual-purpose segment.
Based on sales channels, The global marine battery market is expected to be led by the OEM segment.
Based on battery density, The segment with more than 100 WH/KG is expected to lead the global marine battery market.
During the forecast period, Asia-Pacific is expected to have the highest CAGR. China, India, and Brazil are all developing their economies. As a result, these countries are seeing significant growth in the shipbuilding and marine component manufacturing sectors, which is expected to provide lucrative opportunities for the marine battery market in the region.
Inquire For Customization: https://reports.valuates.com/request/customisation/ALLI-Manu-1N63/Marine_Battery_Market
Market By Region
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East & Africa
- Inquire For Regional
Report: https://reports.valuates.com/request/regional/ALLI-Manu-1N63/Marine_Battery_Market
Market By Company
- Akasol AG
- EnerSys
- Toshiba Corporation
- Siemens
- Leclanché SA
- Saft
- Echandia AB
- EverExceed Industrial Co,
- Lifeline Batteries Inc
- Spear Power Systems
Inquire For Chapter Cost: https://reports.valuates.com/request/chaptercost/ALLI-Manu-1N63/Marine_Battery_Market
Buy Now for Single User + Covid-19 Impact : https://reports.valuates.com/api/directpaytoken?rcode=ALLI-Manu-1N63&lic=single-user
SUBSCRIPTION
We have introduced a tailor-made subscription for our customers. Please leave a note in the Comment Section to know about our subscription plans.
SIMILAR REPORTS
- The global Electric Ships market size is projected to reach USD 9361.4 million by 2027, from USD 5114.6 million in 2020, at a Compound Annual Growth Rate (CAGR) of 10.6% during 2021-2027.
- The global Outboard Engine market size is estimated to be worth USD 4621.5 million in 2022 and is forecast to be a readjusted size of USD 5518.3 million by 2028 with a CAGR of 3.0% during the review period.
- The global lead–acid battery market size was valued at USD 39.7 billion in 2018, and is projected to reach USD 59.7 billion by 2026, growing at a CAGR of 5.24% from 2019 to 2026.
- The global lithium-ion battery market was valued at USD 36.7 billion in 2019 and is projected to hit USD 129.3 billion by 2027 at a CAGR of 18.0% from 2020 to 2027.
- The global Lithium-Ion Battery Separator market size is estimated to be worth USD 3808.9 million in 2022 and is forecast to be a readjusted size of USD 6565.8 million by 2028 with a CAGR of 9.5% during the review period.
- The global graphene battery market size was valued at USD 48.8 million in 2019 and is projected to reach USD 398.6 million by 2027, to register a CAGR of 31.2% during the forecast period.
- The global freight forwarding market size is projected to reach USD 207 billion by 2026, from USD 170 billion in 2019 at a CAGR of 2.8% during 2020-2026.
- The global logistics market size is valued at USD 7641.20 billion in 2017 and is projected to reach USD 12975.64 billion by 2027 registering a CAGR of 6.5% from 2020 to 2027.
- Global Marine Powerboats Battery Sales Market Report 2021
- Global Electric Marine Battery Module Sales Market Report 2021
Click Here To See Related Reports on Marine Battery market
About Us:
Valuates offers in-depth market insights into various industries. Our extensive report repository is constantly updated to meet your changing industry analysis needs.
Our team of market analysts can help you select the best report covering your industry. We understand your niche region-specific requirements and that's why we offer customization of reports. With our customization in place, you can request for any particular information from a report that meets your market analysis needs.
To achieve a consistent view of the market, data is gathered from various primary and secondary sources, at each step, data triangulation methodologies are applied to reduce deviance and find a consistent view of the market. Each sample we share contains a detailed research methodology employed to generate the report. Please also reach our sales team to get the complete list of our data sources.
Contact Us:
Valuates Reports
Email: [email protected]
For U.S. Toll-Free Call 1-(315)-215-3225
For IST Call +91-8040957137
WhatsApp: +91-9945648335
Website: https://reports.valuates.com
Twitter - https://twitter.com/valuatesreports
LinkedIn - https://in.linkedin.com/company/valuatesreports
Logo: https://mma.prnewswire.com/media/1082232/Valuates_Reports_Logo.jpg
Share this article