Sandy, Utah, USA, Oct. 31, 2022 (GLOBE NEWSWIRE) — Custom Market Insights has published a new research report titled “Marine Battery Market Size, Trends and Insights By Battery Type (Lithium-ion, Fuel Cell, Lead-acid, Others), By Power Output (7,560 kW, 745–7,560 KW, 150-745 kW, 75-150 kW, <75 kW), By Application (Commercial, Defense), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2022–2030” in its research database.
“According to the latest research study, the demand for global Marine Battery Market size & share was valued at approximately USD 370 Million in 2021 and is expected to reach USD 456 Million in 2022 and is expected to reach a value of around USD 1890 Million by 2030, at a compound annual growth rate (CAGR) of about 20%during the forecast period 2022 to 2030.”
The report examines the Marine Battery market’s drivers and restraints and their impact analysis. Also, the report mentions global opportunities prevailing in the Marine Battery market.
Click Here to Access a Free Sample Report of the Global Marine Battery Market @ https://www.custommarketinsights.com/request-for-free-sample/?reportid=18963
Marine Battery Market: Overview
Marine batteries are carefully developed to function under the most adverse circumstances since they must resist tremendous vibrations and loads. In contrast to a standard starter battery, a marine battery is made to store energy and release it gradually over a much longer duration.
Trolling motors, many other electronic systems, and safety equipment are all powered by marine batteries. The producers are concentrating on acquiring new technologies to lower emissions while boosting the efficiency of the marine batteries in response to the expanding environmental laws on air and water pollution-related NOx, SOx, and CO2 emissions.
(A free sample of the Marine Battery report is available upon request; please contact us for more information.)
Our Free Sample Report Consists of the following:
- Introduction, Overview, and in-depth industry analysis are all included in the 2022 updated report.
- The COVID-19 Pandemic Outbreak Impact Analysis is included in the package
- About 220+ Pages Research Report (Including Recent Research)
- Provide detailed chapter-by-chapter guidance on the Request
- Updated Regional Analysis with a Graphical Representation of Size, Share, and Trends for the Year 2022
- Includes Tables and figures have been updated
- The most recent version of the report includes the Top Market Players, their Business Strategies, Sales Volume, and Revenue Analysis
- Custom Market Insights (CMI) research methodology
(Please note that the sample of the Marine Battery report has been modified to include the COVID-19 impact study prior to delivery.)
Request Customized Copy of Global Marine Battery Market Report @ https://www.custommarketinsights.com/request-for-customization/?reportid=18963
Growth Factors
The market is expanding due to the growing demand for hybrid and passenger ships. Additionally, compared to diesel-powered vessels, operating costs for electric vessels are lower. The demand for electric ships is expected to increase, increasing the demand for marine batteries needed to power these electric ships.
The market’s expansion is hampered by fully electric ships’ constrained capacity and range. Only 80 kilometers may be covered by electric vessels on a single charge. This hinders the market from expanding. Hybrid propulsion technology powers small vessels like ferries and cruise ships.
However, manufacturers now have a huge chance to work on electric propulsion systems for larger ships because of the development of alternative fuels like fuel cells and marine electric propulsion technologies. This offers a chance for the market to expand throughout the projection period.
Segmental Overview
The global Marine Battery market is categorized into battery type, power output, and application. Based on the application, the commercial segment led the world market in terms of revenue contribution in 2021 and is anticipated to continue to lead over the anticipated period. Marine batteries are used in barges, ro-ro boats, and low-cost shipping vessels for carrying passengers. Additionally, recreational boats are starting to feature them.
Operations of commercial vessels must be as varied as the vessels themselves. Depending on their use, commercial vessels include passengers, cargo, and other types. Yachts, cruise ships, ferries, and other passenger ships are further split into this category. Due to their short range and low electrical requirements, passenger and cargo ships will experience the fastest growth in this category.
Key questions answered in this report:
- What is the size of the Marine Battery market and what is its expected growth rate?
- What are the primary driving factors that push the Marine Battery market forward?
- What are the Marine Battery Industry’s top companies?
- What are the different categories that the Marine Battery Market caters to?
- What will be the fastest-growing segment or region?
- In the value chain, what role do essential players play?
- What is the procedure for getting a free copy of the Marine Battery market sample report and company profiles?
Click Here to Access a Free Sample Report of the Global Marine Battery Market @ https://www.custommarketinsights.com/report/marine-battery-market/
Regional Overview
In 2021, Europe had the highest share geographically. The manufacturing environment in Europe and the producers of marine batteries significantly impact the region’s development. The presence of several of the industry’s leading businesses, including Wartsila, Akasol AG, Enchandia AB, Saft Total, and Leclanché SA, and the expanding demand for electric boats. These businesses are building electric ships with technologically advanced systems, subsystems, and other components as they do R&D to diversify their product offerings.
Over the past few years, developing nations like China, India, Brazil, Indonesia, and Singapore have increased travel, particularly sea-related tourism. This can be attributed to efforts made by governments to draw tourists. To encourage tourism, the governments of these nations are building cities close to the ocean. The demand for powerboats, including jet skis, small cruise ships, yachts, and other small boats, has increased due to increased tourist activity. In the anticipated future, it is projected that this tendency will persist. It is anticipated that rising powerboat demand in developing nations will propel the marine powerboat battery market during the projected period.
Report Scope
Feature of the Report | Details |
Market Size in 2021 | USD 370 Million |
Projected Market Size in 2030 | USD 1890 Million |
CAGR Growth Rate | 20% CAGR |
Base Year | 2021 |
Forecast Period | 2022-2030 |
Prominent Players | Wartsila, Corvus Energy, Akashi AG, Enchandia AB, Siemens, Saft Total, Leclanche SA, Echandia AB, EnerSys, Spear Power Systems, and Others |
Key Segment | By Battery Type, Power Output, Application, and Region |
Report Coverage | Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends |
Regional Scope | North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America |
Buying Options | Request tailored purchasing options to fulfil your requirements for research. Buy Now |
Key Players Insights
Our market analysis includes a section specifically devoted to key players operating in the Marine Battery market. Our analysts overview each player’s financial statements, product benchmarking and SWOT analysis. The competitive landscape section includes key development strategies, market share analysis, and market positioning analysis of globally mentioned competitors.
Key Offerings:
- Market Share, Size & Forecast by Revenue | 2022−2030
- Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Leading Trends
- Market Segmentation – A detailed analysis by Types of Services, by End-User Services, and by Regions
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
Directly Purchase a copy of the Marine Battery report [220+ Pages] @ https://www.custommarketinsights.com/report/marine-battery-market/
Key Players
- Wartsila
- Corvus Energy
- Akashi AG
- Enchandia AB
- Siemens
- Saft Total
- Leclanche SA
- Echandia AB
- EnerSys
- Spear Power Systems
(We customized your report to meet your specific research requirements. Inquire with our sales team about customizing your report.)
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Browse the full “Marine Battery Market Size, Trends and Insights By Battery Type (Lithium-ion, Fuel Cell, Lead-acid, Others), By Power Output (7,560 kW, 745–7,560 KW, 150-745 kW, 75-150 kW, <75 kW), By Application (Commercial, Defense), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2022–2030” Report at https://www.custommarketinsights.com/report/marine-battery-market/
The global Marine Battery market is segmented as follows:
By Battery Type
- Lithium-ion
- Fuel Cell
- Lead-acid
- Others
By Power Output
- 7,560 kW
- 745–7,560 KW
- 150-745 kW
- 75-150 kW
- <75 kW
By Application
On the basis of Geography
North America
Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia Pacific
The Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of the Middle East & Africa
Latin America
- Brazil
- Argentina
- Rest of Latin America
Key Insights:
- As per the analysis shared by our research analyst, the Marine Battery market is estimated to grow annually at a CAGR of around 20% over the forecast period (2022-2030).
- In terms of revenue, the Marine Battery market was valued at around USD 370 million in 2021 and is projected to reach USD 1890 million by 2030. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
- The Marine Battery market research offers a comprehensive analysis of the present…
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