Marine Battery Market Booming Worldwide with Latest Trend and Future Scope by 2028

Marine battery market is anticipated to grow at a CAGR of 18.5% during the forecast period. The growing establishment of start-ups across the globe is the major factor driving the growth of the market. Start-up companies are increasingly inclined towards the development of marine battery in the market. For instance, in June 2022, Alsym Energy Inc, the US start-up company announced the development of energy storage solutions for electric vehicles (EVs), stationary storage, and marine applications. The battery will provide the performance of lithium-ion batteries at a low cost with reduced risk of fire, which is extremely high in lithium-ion batteries. The company uses low-cost materials in manufacturing batteries, which makes it less sensitive to raw material shortages. Furthermore, to accelerate the development of affordable battery systems, the company partnership with an India-based automaker in a joint effort to develop Alsym’s batteries, in order to expand the business and its footprints across the globe.

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The global marine battery market is segmented based on battery type, ship type, battery design, and nominal capacity. Based on the battery type, the market is sub-segmented into lithium, nickel cadmium, fuel cell, and lead-acid. Based on the ship type, the market is divided into commercial and defense. Based on the battery design, the market is further sub-segmented into solid-state batteries, and flow batteries. Based on the nominal capacity, the market is sub-segmented into <100 Ah, 100–250 Ah, and>250 Ah. Among these, the solid-state batteries sub-segment is expected to hold a considerable share in the market due to its higher energy density feature than other battery that uses liquid electrolyte solution.

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  • Market Coverage
  • Market number available for – 2022-2028
  • Base year- 2021
  • Forecast period- 2022-2028
  • Segment Covered- By Source, By Product Type, By Applications
  • Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
  • , and others

Market Segmentation

Global Marine Battery Market by Battery Type

  • Lithium
  • Nickel Cadmium
  • Fuel Cell
  • Lead-acid

Global Marine Battery Market by Ship Type

  • Commercial
  • Defense

Global Marine Battery Market by Battery Design

  • Solid-State Batteries
  • Flow Batteries

Global Marine Battery Market by Nominal Capacity

  • <100 AH
  • 100–250 Ah
  • >250 Ah

Regional Analysis

  • North America
  • United States
  • Canada
  • Europe
  • UK
  • Germany
  • Italy
  • Spain
  • France
  • Rest of Europe
  • Asia-Pacific
  • China
  • India
  • Japan
  • South Korea
  • Rest of Asia-Pacific
  • Rest of the World

Company Profiles 

  • Akasol AG
  • Corvus Energy
  • Echandia Marine AB
  • EnerSys
  • EverExceed Industrial Co.
  • Leclanché SA
  • Lifeline Batteries Inc.
  • Saft Groupe SAS
  • Siemens AG
  • Spear Power Systems.
  • Toshiba Corp.
  • Wärtsilä
  • SUNLIGHT GROUP

The Report Covers

  • Market value data analysis of 2021 and forecast to 2028.
  • Annualized market revenues ($ million) for each market segment.
  • Country-wise analysis of major geographical regions.
  • Key companies operating in the global marine battery market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
  • Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
  • Analysis of market-entry and market expansion strategies.
  • Competitive strategies by identifying ‘who-stands-where’ in the market.

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