World Submarine Battery Market Growth to 2020 led by China

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Sep 26, 2016, 06:00 ET

PUNE, India, September 26, 2016 /PRNewswire/ --

The global submarine battery market report says increased demand from China will be a key trend for market growth. China's demand for submarines has been growing owing to the country's Taiwan dilemma. Resolving this issue has been the prime concern of the People's Liberation Army (PLA). Due to this, PLA Navy's (PLAN) prioritized heavily on the construction of Type-39A Yuan class conventional submarines (SSK). Between 2010 and 2011, PLAN launched 8 Yuan-class submarines and in 2012, they laid down five new Yuan-class. Currently, there are 13 Yuan-class in service, and seven more are in the construction phase. Within the next 5-8 years, APAC will have approximately 82 submarines.

Complete report on submarine battery market spread across 64 pages, analyzing 5 major companies and providing 41 data exhibits now available at http://www.sandlerresearch.org/global-submarine-battery-market-2016-2020.html.

The analysts forecast global submarine battery market to grow at a CAGR of 5.28% during the period 2016-2020. According to the submarine battery market report, rising investments in submarines will be a key driver for market growth. Many countries are modernizing their naval defense units by manufacturing submarines; surface-mine countermeasure unmanned underwater vehicles (SMCMUUVs), and other combat and tactical unmanned underwater vehicles (UUVs). The growth of these resources will simultaneously boost the global development of submarine battery market.

Recent advancements in lead-acid battery technology will be a key factor spurring submarine battery market growth prospects during the forecast period. The increasing demand for lead-acid batteries in defense applications will compel manufacturers to invest in research and development to achieve higher operational efficiency. One such development is the use of carbon materials as an active electrode, which increases the service life and enhances the charge and discharge performances of lead batteries. Furthermore, since these batteries are cost-effective and have the ability to operate at subfreezing temperatures, their demand among the end users will increase substantially.

The Americas dominated the submarine battery market by accounting for approximately 41% of the total market share. Some of the factors contributing to the growth of this region will be the replacement of the aging fleet of Ohio SSBNs, increased spending on Virginia-class submarine program, and increasing the defense budget under the NDAA (National Defence Authorization Act).

The following companies are the key players in the global submarine battery market: EnerSys, EverExceed, Exide Technologies, HBL Power Systems, and Sunlight Systems. Other prominent vendors in the market are: Exide Industries, GS Yuasa, and Saft. Order a copy of Global Submarine Battery Market 2016-2020 report @ http://www.sandlerresearch.org/purchase?rname=59496.

Global Submarine Battery Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. To calculate the submarine battery market size, the report considers the total number of submarines, segmentation by submarine type and average unit price.

Another related report is Global Marine Electric Vehicles Market 2016-2020, a key growth driver is the growing demand from commercial users. The demand for landing craft is growing steadily as these vessels are cost efficient, faster, reliable, easy to maintain, and eco-friendly. In commercial operations, the crafts provide logistic support for a broad range of equipment such as survey equipment, drilling rigs, cranes, and light vehicles. The crafts' main cabin can also be designed to carry passengers and crew. Browse complete report at http://www.sandlerresearch.org/global-marine-electric-vehicles-market-2016-2020.html.

Explore other new reports on Energy & Power Market @ http://www.sandlerresearch.org/market-research/energy-power.

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