Global Marine Battery Market

Marine Battery Market Size, Share, Growth Analysis, By Ship Type(Commercial, and Defense), By Function(Starting, Deep Cycle, and Dual Purpose), By Battery design(Solid state and liquid/gel based.), By Battery type(Lithium, lead-acid, fuel cell and others.), By Sales channel(OEM and aftermarket), By Region - Industry Forecast 2025-2032


Report ID: SQMIG10C2016 | Region: Global | Published Date: March, 2024
Pages: 178 | Tables: 139 | Figures: 78

Marine Battery Market Competitive Landscape

The marine battery industry is moderately fragmented, with a sizable number of medium-and large-sized companies. Key players mainly cater to maritime shipping, offshore oil and gas, marine tourism, and naval and defense industries. To maintain and expand their market share, key companies are adopting several organic and inorganic growth strategies, such as facility expansion, mergers and acquisitions, and joint ventures. The marine battery market is also growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth. 

Top Players in Marine Battery Market

  • XALT Energy (Freudenberg Sealing Technologies) (US)
  • Akasol AG (Germany)
  • GS Yuasa Corporation (Japan)
  • Leclanché SA (Switzerland)
  • PBES (Plan B Energy Storage) (Norway)
  • Rolls-Royce Power Systems AG (Germany)
  • Toshiba Corporation (Japan)
  • Exide Technologies (US)
  • NorthStar Group Services, Inc. (US)
  • ABB Group (Switzerland)
  • Kokam Co., Ltd. (South Korea)
  • Aquion Energy (US)
  • Discover Battery (Canada)
  • Echandia Marine AB (Sweden)
  • Lifeline Batteries (US)
  • Mastervolt (Mastervolt B.V.) (Netherlands)
  • Trojan Battery Company (US)

Marine Battery Market

$5,300
BUY NOW GET FREE SAMPLE
Want to customize this report?

Our industry expert will work with you to provide you with customized data in a short amount of time.

REQUEST FREE CUSTOMIZATION

FAQs

Marine Battery Market size was valued at USD 528.88 Million in 2023 and is poised to grow from USD 635.71 Million in 2024 to USD 2770.12 Million by 2032, growing at a CAGR of 20.2% during the forecast period (2025-2032).

The marine battery industry is moderately fragmented, with a sizable number of medium-and large-sized companies. Key players mainly cater to maritime shipping, offshore oil and gas, marine tourism, and naval and defense industries. To maintain and expand their market share, key companies are adopting several organic and inorganic growth strategies, such as facility expansion, mergers and acquisitions, and joint ventures. The marine battery market is also growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.  'Corvus Energy (Canada)', 'EnerSys (US)', 'Saft Groupe S.A. (France)', 'XALT Energy (Freudenberg Sealing Technologies) (US)', 'Akasol AG (Germany)', 'GS Yuasa Corporation (Japan)', 'Leclanché SA (Switzerland)', 'PBES (Plan B Energy Storage) (Norway)', 'Rolls-Royce Power Systems AG (Germany)', 'Toshiba Corporation (Japan)', 'Exide Technologies (US)', 'NorthStar Group Services, Inc. (US)', 'ABB Group (Switzerland)', 'Kokam Co., Ltd. (South Korea)', 'Aquion Energy (US)', 'Discover Battery (Canada)', 'Echandia Marine AB (Sweden)', 'Lifeline Batteries (US)', 'Mastervolt (Mastervolt B.V.) (Netherlands)', 'Trojan Battery Company (US)'

Increasing Research & Development to Drive Innovation: Governments are playing a pivotal role in advancing battery technology through research and development (R&D) grants and funding programs. Recognizing the importance of innovation in enhancing the efficiency, safety, and sustainability of marine batteries, governments worldwide are allocating resources to support R&D initiatives in the field. These grants aim to accelerate the development of next-generation battery technologies that can meet the specific requirements of the maritime industry.  

North America is dominating with the largest marine battery market share. In this region the marine battery market is influenced by several factors, including stringent environmental regulations, increasing investments in renewable energy, and a growing focus on electrification in maritime transport. Countries such as the United States and Canada are witnessing a rising demand for cleaner and more efficient propulsion systems, driving the adoption of advanced battery technologies in marine applications. Moreover, the presence of established players and robust research and development activities contribute to the region's prominence in the global marine battery market. 

Request Free Customization

Want to customize this report? This report can be personalized according to your needs. Our analysts and industry experts will work directly with you to understand your requirements and provide you with customized data in a short amount of time. We offer $1000 worth of FREE customization at the time of purchase.

logo-images

Feedback From Our Clients

Global Marine Battery Market

Report ID: SQMIG10C2016

$5,300
BUY NOW GET FREE SAMPLE