ID: MRFR/A&D/8052-HCR | February 2021 | Region: Global | 174 pages
Global Marine Battery Market is projected to register a CAGR of 7.8% from 2020 to 2026. Batteries are the crucial component of the ships. It is used to provide starting service and deep cycle service. Absorbed glass mat (AGM) batteries, gelled-electrolyte batteries, and flooded lead-acid batteries are commonly used for marine applications.
The Global Marine Battery Market has witnessed high growth in recent years owing to an increase in seaborne trade and implementation of the IMO Sulfur 2020 Regulation. Moreover, the growing maritime tourism industry is driving the growth of the market. Furthermore, factors such as the use of renewable sources of energy for battery charging and advancements in hybrid propulsion technology are expected to offer lucrative opportunities for market growth.
An increase in the electrification of ships requires advanced batteries.
By Ship Type
Frequently Asked Questions (FAQ) :
The uptick in seaborne trade is foreseen to promote the market in the impending period.
Exide Industries Limited (India), East Penn Manufacturing Co. (US), EnerSys (US), EverExceed Industrial Co., Ltd (China), Exide Technologies (US), and GS Yuasa (Japan) are the global leaders in the forecast period.
The APAC region is estimated to power the overall market development in the forecast period.
A CAGR of 7.8% is estimated to play a vital role in market development through the forecast period.
A constructive revenue level is estimated to stimulate the market in the forecast period.