The global marine battery market is anticipated to grow at a CAGR of 18.5% during the forecast period. According to a research study by Siemens, Denmark has 42 domestic routes along the Danish coast that are trafficked by 52 ferries. Several Danish companies have replaced traditional diesel propulsion with electric propulsion. As a result, 50,000 tonnes of Carbon-dioxide (CO2) is saved per year, which means electrification would save 19,000 tonnes of fuel a year while reducing the operating and maintenance costs. Due to these features the demand for electric and hybrid passenger vessels increases, which in turn increases the demand for the marine battery market. Furthermore, the key players operating in the market are also focusing on developing electric cargo ships to cater for the demand for electric ships. For instance, in March 2022, Fleetzero, an Orleans-based start-up is working to develop a fleet of electric cargo ships that run on a battery-swapping system to reduce the carbon emission from the shipping industry, which is responsible for about 3% of all carbon emissions across the globe. The company developed a 2 MWh lithium iron phosphate battery pack that can fit in a standard 20-foot cargo container and is aiming to launch the maiden voyage of its first electric vessel in mid-2023. Electric cargo ships can unload depleted lithium batteries and replenish themselves with a fully-charged complement of new ones at ports along their journey. Adding on it reduces the operational and maintenance cost.
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Moreover, in March 2022, production of AtoB@C started on the first of six ice-classed electric hybrid vessels at Chowgule Shipyard in Goa, India. The first vessel of the series is to be delivered to AtoB@C shipping in the third quarter of 2023. AtoB@C Shipping has ordered six highly energy-efficient 5,350 DWT general cargo vessels.
Market Coverage
- The market number available for – 2021-2028
- Base year- 2021
- Forecast period- 2022-2028
Segment Covered-
- By Battery Type
- By Ship Type
- By Battery Design
- By Nominal Capacity
Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
- Competitive Landscape- including Akasol AG, Corvus Energy, Echandia Marine AB, EnerSys, EverExceed Industrial Co, Leclanché SA, Lifeline Batteries Inc., and others.
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Marine Battery Market Report Segment
By Battery Type
- Lithium
- Nickel Cadmium
- Fuel Cell
- Lead-Acid
By Ship Type
- Commercial
- Defense
By Battery Design
- Solid-State Batteries
- Flow Batteries
By Nominal Capacity
- <100 AH
- 100–250 Ah
- >250 Ah
Marine Battery Market Report Segment by Region
North America
- United States
- Canada
Europe
- UK
- Germany
- Spain
- France
- Italy
- Rest of Europe
Asia-Pacific
- India
- China
- Japan
- South Korea
- Rest of APAC
Rest of the World
- Latin America
- Middle East and Africa
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
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- We cover more than 15 major industries, further segmented into more than 90 sectors.
- More than 120 countries are for analysis.
- Over 100+ paid data sources mined for investigation.
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