Global Marine Battery Market

Global Marine Battery Market Size, Trends & Analysis - Forecasts to 2026 By Battery Type (Lithium-ion, AGM, Lead-Acid), By Propulsion Type (Fully Electric, Hybrid, Conventional), By Application (Marine Starting Service, Deep Cycle Service, Dual Purpose Service), By Region (North America, Europe, Asia Pacific, and Rest of the World); Vendor Landscape, End-User Landscape, and Company Market Share Analysis & Competitor Analysis.

Category Energy & Power

Format

This report was recently updated on April 12 2024 with the latest and most recent market numbers

Marine Battery Market Insights

The global marine battery market is projected to grow at a higher CAGR% during the forecast period. The growing use of watercraft for commerce, military, transportation of cargo and passengers, and recreation or leisure activities are the major factors driving the growth of the market. The marine battery is used in providing backup power to the safety equipment & powering trolling motor and various other electronic components and systems. Additionally, rise in water transport activities, and increase in environmental concerns leading to the technological innovations in marine batteries are driving the market growth. Also, growing trade activities through marine transport, and increasing investments in these activities are some factors propelling the growth of the market. However, high investments and stringent government rules & regulations hamper the growth of the marine battery market.

Marine Battery Market Size: By Battery Type

On the basis of battery type, the marine battery market is classified into lithium-ion batteries, AGM batteries, and lead-acid batteries. Absorbent Glass Mat (AGM) batteries are estimated to hold the largest market share during the forecast period. AGM battery is an advanced lead-acid battery that provides high power to support the higher electrical demands of vehicles and start-stop applications. They are maintenance-free, light in weight, and provide good electrical reliability which boosts the growth of the AGM batteries in the marine battery market. Lead-acid batteries are also expected to witness significant growth during the forecast period as they are cheaper than lithium-ion batteries.

Marine Battery Market Size: By Propulsion Type

On the basis of propulsion type, the marine battery market is segmented into a fully electric, hybrid, and conventional segment. The fully electric segment is expected to grow at the highest CAGR during the forecast period owing to the rise in demand for fully electric small and medium passenger and cargo ships. Fully electric driven ships have a positive effect on the environment as it reduces fuel consumption due to the insertion of high storage in battery optimized power control.

Marine Battery Market Size: By Application

On the basis of application, the marine battery market is segmented into marine starting service, deep cycle service, and dual-purpose service. The Dual-purpose service segment is anticipated to hold the largest market share as it combines the performance of starting batteries and deep cycle batteries. Dual-purpose batteries deliver powerful cranking amperage for easy starting and low amperage draw service for reliable auxiliary power which drives the growth of this segment in the marine battery market.

Marine Battery Market Size: By Region

Europe region is projected to hold the largest market share of the overall marine battery market during the forecast period. The growth of the shipbuilding industry in the region is the key factor propelling the growth of the marine battery market. Additionally, increasing demand for powerboats for leisure activities and rising investment in the electrification of ships are some of the other factors driving the growth of the market in the region. Asia Pacific region is expected to witness considerable growth due to the increasing trade of goods through marine transport and technological advancements in the marine battery industry.

Marine Battery Market Share & Competitor Analysis

The key players operating in the global marine battery market are Corvus Energy (Canada), Akasol AG (Germany), PowerTech Systems (France), Lithium Werks (Netherlands), U.S. Battery (US), Saft (France), XALT Energy (US), Lifeline Batteries (US), Siemens (Germany), and Craftsman Marine (Netherlands) among others.

Please note: This is not an exhaustive list of companies profiled in the report.

Check the Press Release on Global Marine Battery Market Report

Marine Battery Market: By Battery Type

Introduction
1. Marine Battery Market, By Battery Type, 2018-2026 (USD Million)
Lithium-ion
1. Lithium-ion: Marine Battery Market, 2018-2026 (USD Million)
AGM
1. AGM: Marine Battery Market, 2018-2026 (USD Million)
Lead Acid
1. Lead Acid: Marine Battery Market, 2018-2026 (USD Million)

Marine Battery Market: By Propulsion Type

Introduction
1. Marine Battery Market, By Propulsion Type, 2018-2026 (USD Million)
Fully Electric
1. Fully Electric: Marine Battery Market, 2018-2026 (USD Million)
Hybrid
1. Hybrid: Marine Battery Market, 2018-2026 (USD Million)
Conventional
1. Conventional: Marine Battery Market, 2018-2026 (USD Million)

Marine Battery Market: By Application

Introduction
1. Marine Battery Market, By Application, 2018-2026 (USD Million)
Marine Starting Service
1. Marine Starting Service: Marine Battery Market, 2018-2026 (USD Million)
Deep Cycle Service
1. Deep Cycle Service: Marine Battery Market, 2018-2026 (USD Million)
Dual Purpose Service
1. Dual Purpose Service: Marine Battery Market, 2018-2026 (USD Million)

Marine Battery Market: By Region

Introduction
1. Global Marine Battery Market, Regional Analysis, 2018-2026 (USD Million)
North America
1. North America Marine Battery Market, Regional Analysis, 2018-2026 (USD Million)
  1. By Battery Type
    1. North America Marine Battery Market, By Battery Type, 2018-2026 (USD Million)
  2. By Application
    1. North America Marine Battery Market, By Application, 2018-2026 (USD Million)
  3. By Propulsion Type
    1. North America Marine Battery Market, By Propulsion Type, 2018-2026 (USD Million)
  4. By Country
    1. U.S.
      1. By Battery Type
        
        U.S Marine Battery Market, By Battery Type, 2018-2026 (USD Million)
      2. By Application
        
        U.S Marine Battery Market, By Application, 2018-2026 (USD Million)
      3. By Propulsion Type
        
        U.S Marine Battery Market, By Propulsion Type, 2018-2026 (USD Million)
    2. Canada.
      1. By Battery Type
        
        Canada Marine Battery Market, By Battery Type, 2018-2026 (USD Million)
      2. By Application
        
        Canada Marine Battery Market, By Application, 2018-2026 (USD Million)
      3. By Propulsion Type
        
        Canada Marine Battery Market, By Propulsion Type, 2018-2026 (USD Million)
    3. Mexico
      1. By Battery Type
        
        Mexico Marine Battery Market, By Battery Type, 2018-2026 (USD Million)
      2. By Application
        
        Mexico Marine Battery Market, By Application, 2018-2026 (USD Million)
      3. By Propulsion Type
        
        Mexico Marine Battery Market, By Propulsion Type, 2018-2026 (USD Million)
Europe
1. Europe Marine Battery Market, Regional Analysis, 2018-2026 (USD Million)
  1. By Battery Type
    1. Europe Marine Battery Market, By Battery Type, 2018-2026 (USD Million)
  2. By Application
    1. Europe Marine Battery Market, By Application, 2018-2026 (USD Million)
  3. By Propulsion Type
    1. Europe Marine Battery Market, By Propulsion Type, 2018-2026 (USD Million)
  4. By Country
    1. Germany
      1. By Battery Type
        
        Germany Marine Battery Market, By Battery Type, 2018-2026 (USD Million)
      2. By Application
        
        Germany Marine Battery Market, By Application, 2018-2026 (USD Million)
      3. By Propulsion Type
        
        Germany Marine Battery Market, By Vertical, 2018-2026 (USD Million)
    2. UK
      1. By Battery Type
        
        UK Marine Battery Market, By Battery Type, 2018-2026 (USD Million)
      2. By Application
        
        UK Marine Battery Market, By Application, 2018-2026 (USD Million)
      3. By Propulsion Type
        
        UK Marine Battery Market, By Propulsion Type, 2018-2026 (USD Million)
    3. France
      1. By Battery Type
        
        France Marine Battery Market, By Battery Type, 2018-2026 (USD Million)
      2. By Application
        
        France Marine Battery Market, By Application, 2018-2026 (USD Million)
      3. By Propulsion Type
        
        France Marine Battery Market, By Propulsion Type, 2018-2026 (USD Million)
    4. Italy
      1. By Battery Type
        
        Italy Marine Battery Market, By Battery Type, 2018-2026 (USD Million)
      2. By Application
        
        Italy Marine Battery Market, By Application, 2018-2026 (USD Million)
      3. By Propulsion Type
        
        Italy Marine Battery Market, By Propulsion Type, 2018-2026 (USD Million)
    5. Spain
      1. By Battery Type
        
        Spain Marine Battery Market, By Battery Type, 2018-2026 (USD Million)
      2. By Application
        
        Spain Marine Battery Market, By Application, 2018-2026 (USD Million)
      3. By Propulsion Type
        
        Spain Marine Battery Market, By Propulsion Type, 2018-2026 (USD Million)
    6. Rest Of Europe
      1. By Battery Type
        
        Rest Of Europe Marine Battery Market, By Battery Type, 2018-2026 (USD Million)
      2. By Application
        
        Rest Of Europe Marine Battery Market, By Application, 2018-2026 (USD Million)
      3. By Propulsion Type
        
        Rest Of Europe Marine Battery Market, By Propulsion Type, 2018-2026 (USD Million)
Asia Pacific
1. Asia Pacific Marine Battery Market, Regional Analysis, 2018-2026 (USD Million)
  1. By Battery Type
    1. Asia Pacific Marine Battery Market, By Battery Type, 2018-2026 (USD Million)
  2. By Application
    1. Asia Pacific Marine Battery Market, By Application, 2018-2026 (USD Million)
  3. By Propulsion Type
    1. Asia Pacific Marine Battery Market, By Propulsion Type, 2018-2026 (USD Million)
  4. By Country
    1. China
      1. By Battery Type
        
        China Marine Battery Market, By Battery Type, 2018-2026 (USD Million)
      2. By Application
        
        China Marine Battery Market, By Application, 2018-2026 (USD Million)
      3. By Propulsion Type
        
        China Marine Battery Market, By Propulsion Type, 2018-2026 (USD Million)
    2. Japan
      1. By Battery Type
        
        Japan Marine Battery Market, By Battery Type, 2018-2026 (USD Million)
      2. By Application
        
        Japan Marine Battery Market, By Application, 2018-2026 (USD Million)
      3. By Propulsion Type
        
        Japan Marine Battery Market, By Propulsion Type, 2018-2026 (USD Million)
    3. India
      1. By Battery Type
        
        India Marine Battery Market, By Battery Type, 2018-2026 (USD Million)
      2. By Application
        
        India Marine Battery Market, By Application, 2018-2026 (USD Million)
      3. By Propulsion Type
        
        India Marine Battery Market, By Propulsion Type, 2018-2026 (USD Million)
    4. South Korea
      1. By Battery Type
        
        South Korea Marine Battery Market, By Battery Type, 2018-2026 (USD Million)
      2. By Application
        
        South Korea Marine Battery Market, By Application, 2018-2026 (USD Million)
      3. By Propulsion Type
        
        South Korea Marine Battery Market, By Propulsion Type, 2018-2026 (USD Million)
    5. Rest Of APAC
      1. By Battery Type
        
        Rest Of APAC Marine Battery Market, By Battery Type, 2018-2026 (USD Million)
      2. By Application
        
        Rest Of APAC Marine Battery Market, By Application, 2018-2026 (USD Million)
      3. By Propulsion Type
        
        Rest Of APAC Marine Battery Market, By Propulsion Type, 2018-2026 (USD Million)
Central & South America
1. Central & South America Marine Battery Market, Regional Analysis, 2018-2026 (USD Million)
  1. By Battery Type
    1. Central & South America Marine Battery Market, By Battery Type, 2018-2026 (USD Million)
  2. By Application
    1. Central & South America Marine Battery Market, By Application, 2018-2026 (USD Million)
  3. By Propulsion Type
    1. Central & South America Marine Battery Market, By Propulsion Type, 2018-2026 (USD Million)
  4. By Country
    1. Brazil
      1. By Battery Type
        
        Brazil Marine Battery Market, By Battery Type, 2018-2026 (USD Million)
      2. By Application
        
        Brazil Marine Battery Market, By Application, 2018-2026 (USD Million)
      3. By Propulsion Type
        
        Brazil Marine Battery Market, By Propulsion Type, 2018-2026 (USD Million)
Middle East & Africa
1. Middle East & Africa Marine Battery Market, Regional Analysis, 2018-2026 (USD Million)
  1. By Battery Type
    1. Middle East & Africa Marine Battery Market, By Battery Type, 2018-2026 (USD Million)
  2. By Application
    1. Middle East & Africa Marine Battery Market, By Application, 2018-2026 (USD Million)
  3. By Propulsion Type
    1. Middle East & Africa Marine Battery Market, By Propulsion Type, 2018-2026 (USD Million)
  4. By Country
    1. Saudi Arabia
      1. By Battery Type
        
        Saudi Arabia Marine Battery Market, By Battery Type, 2018-2026 (USD Million)
      2. By Application
        
        Saudi Arabia Marine Battery Market, By Application, 2018-2026 (USD Million)
      3. By Propulsion Type
        
        Saudi Arabia Marine Battery Market, By Propulsion Type, 2018-2026 (USD Million)
    2. UAE
      1. By Battery Type
        
        UAE Marine Battery Market, By Battery Type, 2018-2026 (USD Million)
      2. By Application
        
        UAE Marine Battery Market, By Application, 2018-2026 (USD Million)
      3. By Propulsion Type
        
        UAE Marine Battery Market, By Propulsion Type, 2018-2026 (USD Million)

The global Marine Battery Market has been studied from the year 2017 till 2026. However, the CAGR provided in the report is from the year 2018 to 2026. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.

The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply side analysis for the Marine Battery Market.

Marine Battery Market

The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.

Marine Battery Market

Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the companies and customer analytics.

Marine Battery Market