Marine Battery Market
Marine Battery Market Global Industry Assessment & Forecast
- By Battery Type Lithium, Nickel Cadmium, Fuel Cell, Lead-acid
- By Propulsion Type Fully Electric, Hybrid, Conventional
- By Application Commercial, Defense
- By Solid-State Batteries, Flow Batteries
|Forecast Years:||2021 - 2028|
|Historical Years:||2016 - 2020|
|Revenue 2021:||400 Million|
|Revenue 2028:||1.5 Billion|
|Revenue CAGR (2021 - 2028):||19.6%|
|Fastest Growing Region (2022 - 2028)||North America|
- Cross-segment Market Size and Analysis for Mentioned Segments
- Additional Company Profiles (Upto 5 With No Cost)
- Additional Countries (Apart From Mentioned Countries)
- Country/Region-specific Report
- Go To Market Strategy
- Region Specific Market Dynamics
- Region Level Market Share
- Import Export Analysis
- Production Analysis
- Others Request Customization Speak To Analyst
The global Marine Battery market was valued at USD 400 Million in 2020 and is projected to reach USD 1.5 Billion by 2028, growing at a CAGR of 19.6% from 2021 to 2028.
|Historical Data (Actual Data)||2016-2020|
|Base Year Data||2020|
|Current Year Date||2021|
|Projected year data||2021-2028|
|Annual Market Size (2028)||1.5 Billion|
|Annual Market Size (2021)|
|CAGR (2021 - 2028)||19.6%|
Overview and Description
Marine batteries, commonly known as boat batteries, are just as important to think about maintaining as your car battery. Proper care makes sure when you’re taking the boat out for the first time in the spring or summer, you’re not left with an unexpected dead battery.
This report provides an analysis of the Marine Battery market for the historic period of 2016–2019 and forecasts for 2021–2028 while 2020 is considered as a base year for estimations. The report includes exhaustive analysis of segments, regions and countries comprising of market size and estimations in terms of revenue for the years 2016–2028. There regional section of the report is bifurcated into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Moreover, the report also covers a thorough insights on various tools such as SWOT analysis, PEST analysis, value chain analysis, Porter’s five forces analysis, pricing analysis, and technology roadmap among others. These assessments aid the industry stakeholders to analyze the Marine Battery market on the basis of different parameters, such as forward/backward integration, economies of scale, the share of various distribution channels, various factors affecting consumer behavior such as brand loyalty, price, and product availability among others, capital investments, regulatory landscape, production rights and patents, promotional strategies, and other customer preferences. This data is likely to help the industry stakeholders and stimulate the decision-making process.
COVID-19 Impact Analysis
The COVID-19 outbreak has affected various industries worldwide. The Marine Battery market is no exception. Governments across the world took severe actions like border seals, lockdown, and implementing strict social distancing measures, in order to stop swift spread of COVID-19. These actions led to severe impact on the global economy. Industrialist across the globe were forced to halt their production, leading to supply chain disruptions and impairing of various industries. However, it is expected that reopening of trade activities, the market will witness steady growth in demand in the coming years. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends for all the regions and countries.
The report provides a completely separate chapter for COVID-19 Impact Analysis. This chapter includes:
- Impact Assessment of COVID-19 Pandemic
- Pre & Post COVID-19 Market Size
- Qualitative analysis on the short term & long-term impact of COVID-19 on the market
- The analysis provides foremost strategies adopted by competitors to minimize the impact of the pandemic on their business activities and scope for future developments.
The report covers exhaustive analysis on the global Marine Battery industry, which includes market trends, drivers, restraints, opportunities, segmental analysis, regional trends, and competitive landscape among others. It includes an extensive competitive landscape covering key players in the industry and their comparative study on the basis of different parameters such as company overview, product portfolio, market revenue, business, and marketing strategies. Moreover, the report covers a thorough analysis drivers, restraints, and opportunities considering regional growth factors, technological advancements, and availability of substitute, regulatory norms, and such other growth impacting factors.
Growing water sports activities and increase in marine transportation demand.
Expansion of electric propulsion technology in marine and alternative fuels like fuel cells will increase the market size.
Limited travel capacity and distance are key restraints for full-electric ships.
Global Marine Battery Market Report Scope
|Market Size Provided for Years||2016-2028|
|Market Size Provided In Terms Of||Revenue & Volume|
|Segments Covered||Battery Type, Propulsion Type, Application|
|Regions Covered||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa|
|Countries Covered||The U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, South East Asia, Brazil, Argentina, GCC Countries, and South Africa, among others|
|Companies Covered||Corvus Energy, Akasol AG, Siemens, Spear Power Systems, , Sterling PBES Energy Solutions, Furukawa Battery Solutions, Lithium Werks, Exide Technologies, Craftsman Marine, PowerTech Systems, Kokam Co. Ltd., Toshiba Corporation, XALT Energy, U.S. Battery, Lifeline Batteries, Leclanche.|
|Report Coverage||Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis|
The report delivers an acute breakdown of the market based on various segments such as Battery Type, Propulsion Type, Application and region. The report will cover market estimations and forecast for each segment by region for the years 20156–2028. Several growth factors and opportunities impacting various segments have been incorporated in the report.
On the basis of Battery Type, the market is divided into Lithium, Nickel Cadmium, Fuel Cell, Lead-acid. Lithium held the largest share in 2020 and is projected to witness substantial growth during the forecast period.
on Propulsion Type, the market is divided into Fully Electric, Hybrid, Conventional. Hybrid
attributed to the highest market share and is expected to grow at a significant
CAGR from 2021 to 2028.
Global Marine Battery Market: Battery Type Segment Analysis
- Nickel Cadmium
- Fuel Cell
Global Marine Battery Market: Propulsion Type Segment Analysis
- Fully Electric
Global Marine Battery Market: Application Segment Analysis
Regional Analysis: Preview
Based on the geography, the global Marine Battery market is segmented into North America, Latin America, Asia Pacific, Europe, and the Middle East & Africa. The regional analysis covers market estimations and forecast for each segment for each region for the years 2016–2028. The regional analysis section also provides qualitative analysis comprising of regional trends such as drivers, restraints, opportunities and regulatory norms. Moreover, the regional sections if further bifurcated into key country level markets for better understanding of the market.
Market Size, 2021 (USD Billion)
Global Marine Battery Market: Regional Analysis
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- GCC Countries
- South Africa
- Rest of MEA
The global Marine Battery market report provides an exhaustive competitive landscape to give a comprehensive synopsis of the global market. Major players in the Marine Battery market are Corvus Energy, Akasol AG, Siemens, Spear Power Systems, , Sterling PBES Energy Solutions, Furukawa Battery Solutions, Lithium Werks, Exide Technologies, Craftsman Marine, PowerTech Systems, Kokam Co. Ltd., Toshiba Corporation, XALT Energy, U.S. Battery, Lifeline Batteries, Leclanche.. This section of the report comprising of a thorough profiling of companies based on various parameters such as company/business overview, portfolio analysis, business strategies, financial performance, geographical presence, and recent developments among others. Moreover, the report also includes extensive information on key strategies such as new product development/launch, merger & acquisitions, partnerships, collaborations & joint ventures, research & development, and regional expansion.
Frequently Asked Question
What is the global demand for Marine Battery in terms of revenue?
The global Marine Battery valued at 400 Million in 2020 and is expected to reach 1.5 Billion in 2028 growing at a CAGR of 19.6%%.
Which are the prominent players in the market?
The prominent players in the market are Corvus Energy, Akasol AG, Siemens, Spear Power Systems, , Sterling PBES Energy Solutions, Furukawa Battery Solutions, Lithium Werks, Exide Technologies, Craftsman Marine, PowerTech Systems, Kokam Co. Ltd., Toshiba Corporation, XALT Energy, U.S. Battery, Lifeline Batteries, Leclanche..
At what CAGR is the market projected to grow within the forecast period?
The market is project to grow at a CAGR of 19.6%% between 2021 and 2028.
What are the driving factors fueling the growth of the market?
The driving factors of the Marine Battery include
- Growing water sports activities and increase in marine transportation demand.
- Expansion of electric propulsion technology in marine and alternative fuels like fuel cells will increase the market size.
Which region accounted for the largest share in the market?
North America was the leading regional segment of the Marine Battery in 2020.