NEW YORK, Nov. 15, 2022 /PRNewswire/ -- The marine battery market size is expected to grow by USD 604.14 million from 2021 to 2026. In addition, the growth momentum of the market will accelerate at a CAGR of 18.19% during the forecast period, according to Technavio's latest report. The market analysis is curated by covering all market trends, regional outlook, competitive landscape, and comprehensive analysis for business needs and growth strategies. All major aspects such as a detailed analysis of the market overview, market drivers, opportunities, and potential applications are covered. Both qualitative and quantitative analysis are emphasized to help organizations create effective decision-making strategies. Get a comprehensive report summary that describes the market size and forecast along with research methodology. Download a FREE Sample Report
Top Key players and their Offerings
- BorgWarner Inc. - The company offers marine batteries under the subsidiary Akasol AG.
- Echandia Marine AB - The company offers marine batteries such as Echandia LTO, which are lithium-ion based.
- EnerSys - The company offers marine batteries such as Odyssey extreme series.
- EverExceed Industrial Co. Ltd. - The company offers marine batteries such as lifepo4 battery Marine series.
- Leclanche SA - The company offers marine batteries such as eMarine energy storage systems.
- Corvus Energy
- EST Floattech BV
- Exide Industries Ltd.
- Forsee Power
- Freudenberg FST GmbH
- HBL Power Systems Ltd.
- Kokam Co. Ltd.
- Lifeline Batteries Inc.
- Saft Groupe SAS
- Siemens AG
- Spear Power Systems
- Sterling PlanB Energy Systems
- The Furukawa Battery Co. Ltd.
- Toshiba Corp.
- U.S. Battery Manufacturing Co.
Market Segmentation
- Marine Battery Market Split by Application
- Commercial: The commercial segment will be a significant contributor to ma during the forecast period. Lithium batteries are becoming more affordable due to improvements in manufacturing techniques, which is leading to an increase in their use in commercial vessels. The rise in maritime tourism, modifications in government policies to enhance the seaborne economy, and the replacement of the existing fleet's propulsion system with electric propulsion drive the segment's growth.
- Defense
- Marine Battery Market Split by Geography
- Europe
- North America
- APAC
- Middle East and Africa
- South America
Market Dynamics
One of the key trends in the marine battery market is the growing demand for fully electric ships. Apart from this, other market trends include rising maritime tourism and an increase in demand for marine freight transportation vessels. In addition, the rising demand for lithium batteries will aid in market growth. The need for better marine infrastructure and connectivity and technological advancements in marine batteries will also augment market growth over the forecast period.
Technavio has identified key trends, drivers, and challenges in the market, which will help vendors improve their strategies to stay ahead of their competitors. View our FREE PDF Sample Report
Imperative Insights on the following aspects:
- What was the size of the global marine battery industry by value in 2021?
- What will be the size of the global marine battery industry in 2026?
- What factors are affecting the strength of competition in the global marine battery industry?
- How has the industry performed over the last five years?
- What are the main segments that make up the global marine battery market?
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The marine battery market research report gives an overview of the marine battery industry by analyzing various key segments of this market based on the application and geography industries. The regional distribution of the marine battery market is across the globe and considered for this marine battery industry analysis, the result of which is utilized to estimate the performance of the marine battery market over the period from 2022 to the forecasted year.
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Marine Battery Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 18.19% |
Market growth 2022-2026 |
USD 604.14 million |
Market structure |
Fragmented |
YoY growth (%) |
12.78 |
Regional analysis |
Europe, North America, APAC, Middle East and Africa, and South America |
Performing market contribution |
Europe at 52% |
Key consumer countries |
US, China, Japan, Norway, and Germany |
Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
Companies profiled |
BorgWarner Inc., Corvus Energy, Echandia Marine AB, EnerSys, EST Floattech BV, EverExceed Industrial Co. Ltd., Exide Industries Ltd., Forsee Power, Freudenberg FST GmbH, HBL Power Systems Ltd., Kokam Co. Ltd., Leclanche SA, Lifeline Batteries Inc., Saft Groupe SAS, Siemens AG, Spear Power Systems, Sterling PlanB Energy Systems, The Furukawa Battery Co. Ltd., Toshiba Corp., and U.S. Battery Manufacturing Co. |
Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, and market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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Table of Content
1 Executive Summary
- 1.1 Market overview
- Exhibit 01: Executive Summary – Chart on Market Overview
- Exhibit 02: Executive Summary – Data Table on Market Overview
- Exhibit 03: Executive Summary – Chart on Global Market Characteristics
- Exhibit 04: Executive Summary – Chart on Market by Geography
- Exhibit 05: Executive Summary – Chart on Market Segmentation by Application
- Exhibit 06: Executive Summary – Chart on Incremental Growth
- Exhibit 07: Executive Summary – Data Table on Incremental Growth
- Exhibit 08: Executive Summary – Chart on Vendor Market Positioning
2 Market Landscape
- 2.1 Market ecosystem
- Exhibit 09: Parent market
- Exhibit 10: Market Characteristics
3 Market Sizing
- 3.1 Market definition
- Exhibit 11: Offerings of vendors included in the market definition
- 3.2 Market segment analysis
- Exhibit 12: Market segments
- 3.3 Market size 2021
- 3.4 Market outlook: Forecast for 2021-2026
- Exhibit 13: Chart on Global - Market size and forecast 2021-2026 ($ million)
- Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 ($ million)
- Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
- Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)
4 Five Forces Analysis
- 4.1 Five forces summary
- Exhibit 17: Five forces analysis - Comparison between 2021 and 2026
- 4.2 Bargaining power of buyers
- Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026
- 4.3 Bargaining power of suppliers
- Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026
- 4.4 Threat of new entrants
- Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026
- 4.5 Threat of substitutes
- Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026
- 4.6 Threat of rivalry
- Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026
- 4.7 Market condition
- Exhibit 23: Chart on Market condition - Five forces 2021 and 2026
5 Market Segmentation by Application
- 5.1 Market segments
- Exhibit 24: Chart on Application - Market share 2021-2026 (%)
- Exhibit 25: Data Table on Application - Market share 2021-2026 (%)
- 5.2 Comparison by Application
- Exhibit 26: Chart on Comparison by Application
- Exhibit 27: Data Table on Comparison by Application
- 5.3 Commercial - Market size and forecast 2021-2026
- Exhibit 28: Chart on Commercial - Market size and forecast 2021-2026 ($ million)
- Exhibit 29: Data Table on Commercial - Market size and forecast 2021-2026 ($ million)
- Exhibit 30: Chart on Commercial - Year-over-year growth 2021-2026 (%)
- Exhibit 31: Data Table on Commercial - Year-over-year growth 2021-2026 (%)
- 5.4 Defense - Market size and forecast 2021-2026
- Exhibit 32: Chart on Defense - Market size and forecast 2021-2026 ($ million)
- Exhibit 33: Data Table on Defense - Market size and forecast 2021-2026 ($ million)
- Exhibit 34: Chart on Defense - Year-over-year growth 2021-2026 (%)
- Exhibit 35: Data Table on Defense - Year-over-year growth 2021-2026 (%)
- 5.5 Market opportunity by Application
- Exhibit 36: Market opportunity by Application ($ million)
6 Customer Landscape
- 6.1 Customer landscape overview
- Exhibit 37: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
7 Geographic Landscape
- 7.1 Geographic segmentation
- Exhibit 38: Chart on Market share by geography 2021-2026 (%)
- Exhibit 39: Data Table on Market share by geography 2021-2026 (%)
- 7.2 Geographic comparison
- Exhibit 40: Chart on Geographic comparison
- Exhibit 41: Data Table on Geographic comparison
- 7.3 Europe - Market size and forecast 2021-2026
- Exhibit 42: Chart on Europe - Market size and forecast 2021-2026 ($ million)
- Exhibit 43: Data Table on Europe - Market size and forecast 2021-2026 ($ million)
- Exhibit 44: Chart on Europe - Year-over-year growth 2021-2026 (%)
- Exhibit 45: Data Table on Europe - Year-over-year growth 2021-2026 (%)
- 7.4 North America - Market size and forecast 2021-2026
- Exhibit 46: Chart on North America - Market size and forecast 2021-2026 ($ million)
- Exhibit 47: Data Table on North America - Market size and forecast 2021-2026 ($ million)
- Exhibit 48: Chart on North America - Year-over-year growth 2021-2026 (%)
- Exhibit 49: Data Table on North America - Year-over-year growth 2021-2026 (%)
- 7.5 APAC - Market size and forecast 2021-2026
- Exhibit 50: Chart on APAC - Market size and forecast 2021-2026 ($ million)
- Exhibit 51: Data Table on APAC - Market size and forecast 2021-2026 ($ million)
- Exhibit 52: Chart on APAC - Year-over-year growth 2021-2026 (%)
- Exhibit 53: Data Table on APAC - Year-over-year growth 2021-2026 (%)
- 7.6 Middle East and Africa - Market size and forecast 2021-2026
- Exhibit 54: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
- Exhibit 55: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
- Exhibit 56: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
- Exhibit 57: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)
- 7.7 South America - Market size and forecast 2021-2026
- Exhibit 58: Chart on South America - Market size and forecast 2021-2026 ($ million)
- Exhibit 59: Data Table on South America - Market size and forecast 2021-2026 ($ million)
- Exhibit 60: Chart on South America - Year-over-year growth 2021-2026 (%)
- Exhibit 61: Data Table on South America - Year-over-year growth 2021-2026 (%)
- 7.8 Norway - Market size and forecast 2021-2026
- Exhibit 62: Chart on Norway - Market size and forecast 2021-2026 ($ million)
- Exhibit 63: Data Table on Norway - Market size and forecast 2021-2026 ($ million)
- Exhibit 64: Chart on Norway - Year-over-year growth 2021-2026 (%)
- Exhibit 65: Data Table on Norway - Year-over-year growth 2021-2026 (%)
- 7.9 US - Market size and forecast 2021-2026
- Exhibit 66: Chart on US - Market size and forecast 2021-2026 ($ million)
- Exhibit 67: Data Table on US - Market size and forecast 2021-2026 ($ million)
- Exhibit 68: Chart on US - Year-over-year growth 2021-2026 (%)
- Exhibit 69: Data Table on US - Year-over-year growth 2021-2026 (%)
- 7.10 China - Market size and forecast 2021-2026
- Exhibit 70: Chart on China - Market size and forecast 2021-2026 ($ million)
- Exhibit 71: Data Table on China - Market size and forecast 2021-2026 ($ million)
- Exhibit 72: Chart on China - Year-over-year growth 2021-2026 (%)
- Exhibit 73: Data Table on China - Year-over-year growth 2021-2026 (%)
- 7.11 Germany - Market size and forecast 2021-2026
- Exhibit 74: Chart on Germany - Market size and forecast 2021-2026 ($ million)
- Exhibit 75: Data Table on Germany - Market size and forecast 2021-2026 ($ million)
- Exhibit 76: Chart on Germany - Year-over-year growth 2021-2026 (%)
- Exhibit 77: Data Table on Germany - Year-over-year growth 2021-2026 (%)
- 7.12 Japan - Market size and forecast 2021-2026
- Exhibit 78: Chart on Japan - Market size and forecast 2021-2026 ($ million)
- Exhibit 79: Data Table on Japan - Market size and forecast 2021-2026 ($ million)
- Exhibit 80: Chart on Japan - Year-over-year growth 2021-2026 (%)
- Exhibit 81: Data Table on Japan - Year-over-year growth 2021-2026 (%)
- 7.13 Market opportunity by geography
- Exhibit 82: Market opportunity by geography ($ million)
8 Drivers, Challenges, and Trends
- 8.1 Market drivers
- 8.2 Market challenges
- 8.3 Impact of drivers and challenges
- Exhibit 83: Impact of drivers and challenges in 2021 and 2026
- 8.4 Market trends
9 Vendor Landscape
- 9.1 Overview
- 9.2 Vendor landscape
- Exhibit 84: Overview on Criticality of inputs and Factors of differentiation
- 9.3 Landscape disruption
- Exhibit 85: Overview on factors of disruption
- 9.4 Industry risks
- Exhibit 86: Impact of key risks on business
10 Vendor Analysis
- 10.1 Vendors covered
- Exhibit 87: Vendors covered
- 10.2 Market positioning of vendors
- Exhibit 88: Matrix on vendor position and classification
- 10.3 BorgWarner Inc.
- Exhibit 89: BorgWarner Inc. - Overview
- Exhibit 90: BorgWarner Inc. - Business segments
- Exhibit 91: BorgWarner Inc. - Key news
- Exhibit 92: BorgWarner Inc. - Key offerings
- Exhibit 93: BorgWarner Inc. - Segment focus
- 10.4 Echandia Marine AB
- Exhibit 94: Echandia Marine AB - Overview
- Exhibit 95: Echandia Marine AB - Product / Service
- Exhibit 96: Echandia Marine AB - Key offerings
- 10.5 EnerSys
- Exhibit 97: EnerSys - Overview
- Exhibit 98: EnerSys - Business segments
- Exhibit 99: EnerSys - Key news
- Exhibit 100: EnerSys - Key offerings
- Exhibit 101: EnerSys - Segment focus
- 10.6 EverExceed Industrial Co. Ltd.
- Exhibit 102: EverExceed Industrial Co. Ltd. - Overview
- Exhibit 103: EverExceed Industrial Co. Ltd. - Product / Service
- Exhibit 104: EverExceed Industrial Co. Ltd. - Key offerings
- 10.7 Leclanche SA
- Exhibit 105: Leclanche SA - Overview
- Exhibit 106: Leclanche SA - Business segments
- Exhibit 107: Leclanche SA - Key offerings
- Exhibit 108: Leclanche SA - Segment focus
- 10.8 Lifeline Batteries Inc.
- Exhibit 109: Lifeline Batteries Inc. - Overview
- Exhibit 110: Lifeline Batteries Inc. - Product / Service
- Exhibit 111: Lifeline Batteries Inc. - Key offerings
- 10.9 Saft Groupe SAS
- Exhibit 112: Saft Groupe SAS - Overview
- Exhibit 113: Saft Groupe SAS - Product / Service
- Exhibit 114: Saft Groupe SAS - Key offerings
- 10.10 Siemens AG
- Exhibit 115: Siemens AG - Overview
- Exhibit 116: Siemens AG - Business segments
- Exhibit 117: Siemens AG - Key news
- Exhibit 118: Siemens AG - Key offerings
- Exhibit 119: Siemens AG - Segment focus
- 10.11 Spear Power Systems
- Exhibit 120: Spear Power Systems - Overview
- Exhibit 121: Spear Power Systems - Product / Service
- Exhibit 122: Spear Power Systems - Key offerings
- 10.12 Toshiba Corp.
- Exhibit 123: Toshiba Corp. - Overview
- Exhibit 124: Toshiba Corp. - Business segments
- Exhibit 125: Toshiba Corp. - Key news
- Exhibit 126: Toshiba Corp. - Key offerings
- Exhibit 127: Toshiba Corp. - Segment focus
11 Appendix
- 11.1 Scope of the report
- 11.2 Inclusions and exclusions checklist
- Exhibit 128: Inclusions checklist
- Exhibit 129: Exclusions checklist
- 11.3 Currency conversion rates for US$
- Exhibit 130: Currency conversion rates for US$
- 11.4 Research methodology
- Exhibit 131: Research methodology
- Exhibit 132: Validation techniques employed for market sizing
- Exhibit 133: Information sources
- 11.5 List of abbreviations
- Exhibit 134: List of abbreviations
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