Marine Battery Market Research Report - Global Forecast till 2027

Global Marine Battery Market Report, by Type (Valve-regulated Lead Acid (VRLA) Batteries, Flooded Lead Acid Batteries and others), Application (Marine Starting Service, Deep Cycle Service and Dual-Purpose Service), Ship Type (Commercial and Defense) and Region - Forecast till 2027

ID: MRFR/A&D/8052-HCR | February, 2021 | Region : Global

Market Scenario


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.


Market Synopsis


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.


Market USP


An increase in the electrification of ships requires advanced batteries.


Market Drivers



  • Increase in Seaborne Trade: Maritime transport is considered the backbone of global trade and economy; shipping carried more than 85% of the world’s goods, by volume, in 2018. Seaborne trade continues to expand, bringing benefits to consumers across the world through competitive freight costs. This is also expected to drive the growth of the global marine battery market during the forecast period.



  • Growing Maritime Tourism Industry



  • Implementation of the IMO Sulfur 2020 Regulation


Market Opportunities



  • Use of Renewable Energy for Battery Charging

  • Advancements in Hybrid Propulsion Technology


Segmentation


By Application



  • Marine Starting Service: The marine starting service segment is expected to grow at the higher CAGR during the forecast period. These batteries are used to deliver several hundred amps of power to the starting motor within a few seconds.



  • Deep Cycle Service: The segment accounted for the largest market share in 2019. A deep cycle battery is used to deliver an extended, slow discharge of fewer amps for several minutes or hours. The demand for these batteries has been increased with the electrification of ships.



  • Dual Purpose Service: The segment is expected to grow at the highest CAGR during the forecast period. Dual-purpose batteries are used for both applications for starting and deep cycle service. It delivers powerful cranking amperage for easy starting and low amp draw service for consistent auxiliary power.


By Ship Type



  • Commercial: The segment dominated the marine battery market in 2019. The commercial segment includes cargo vessels such as container vessels, bulk carriers, tankers, and general cargo ships; passenger vessels such as yachts, cruise ships, and ferries; and other vessels such as fishing vessels, tugs and workboats, dredgers, research vessels, and submarines. Moreover, due to factors such as an increase in seaborne trade, rising maritime tourism industry, and implementation of the IMO Sulfur 2020 Regulation, the demand for advanced marine batteries for commercial applications is expected to increase during the forecast period.



  • Defense: The segment is expected to register a higher growth rate during the forecast period. The defense segment includes destroyers, corvettes, frigates, offshore support vessels, aircraft carriers, and submarines. Increasing military spending on the development of new and advanced combat vessels is expected to increase the demand for high-performance marine batteries.


By Region



  • North America: The increasing adoption of electric propulsion naval vessels by the US Navy for tactical missions is expected to drive the growth of the market during the review period. Moreover, the presence of major marine battery manufacturers such as EnerSys, East Penn Manufacturing Co., and Exide Technologies is fueling the growth of the market in North America.



  • Europe: Europe is the second-largest market for marine batteries. This trend is projected to continue during the forecast period due to investments by prominent players such as Saft Groupe SA and Systems Sunlight SA in the development of marine battery.



  • Asia-Pacific: Asia-Pacific accounted for the largest market share in 2019. The market in the region is also projected to register the highest CAGR during the forecast period. Increasing defense expenditure in India and China and the rising demand for new and advanced naval vessels are driving the regional market growth.



  • Middle East & Africa: The increase in defense expenditure in Saudi Arabia, the UAE, and Israel is driving market growth in the Middle East & Africa.



  • Latin America: In Latin America, the increase in naval expenditure in Brazil for the procurement of advanced naval vessels is driving the growth of the market.


Key Players



  • East Penn Manufacturing Co. (US)

  • EnerSys (US)

  • EverExceed Industrial Co., Ltd (China)

  • Exide Industries Limited (India)

  • Exide Technologies (US)

  • GS Yuasa (Japan)

  • HBL Power Systems Limited (India)

  • Korea Special Battery (South Korea)

  • Manbat Ltd (UK)

  • Saft Groupe SA (France)

  • Systems Sunlight SA (Greece)

  • Zibo Torch Energy (China)

Table of Contents

1. Executive Summary

1.1. Market Attractiveness Analysis

1.1.1. Global Marine Battery Market, by Battery Type

1.1.2. Global Marine Battery Market, by Application

1.1.3. Global Marine Battery Market, by Ship Type

1.1.4. Global Marine Battery Market, by Region

2. Market Introduction

2.1. Market Definition

2.2. Scope of the Study

2.3. Market Structure

2.4. Key Buying Criteria

2.5. Market Factor Indicator Analysis

3. Research Methodology

3.1. Research Process

3.2. Primary Research

3.3. Secondary Research

3.4. Market Size Estimation

3.5. Forecast Model

3.6. List of Assumptions

4. Market Insights

5. Market Dynamics

5.1. Introduction

5.2. Drivers

5.2.1. Increase in Seaborne Trade Globally

5.2.2. Growing Maritime Tourism Industry

5.2.3. Implementation of Sulfur 2020 Rule

5.2.4. Drivers Impact Analysis

5.3. Opportunities

5.3.1. Use of Renewable Sources of Energy for Battery Charging

5.3.2. Advancements in Hybrid Propulsion Technology

5.4. Market/Technological Trends

5.5. Patent Trends

5.6. Regulatory Landscape/Standards

6. Market Factor Analysis

6.1. Value Chain/Supply Chain Analysis

6.1.1. R&D

6.1.2. Manufacturing

6.1.3. Distribution & Sales

6.1.4. Post-Sales Monitoring

6.2. Porter’s Five Forces Analysis

6.2.1. Threat of New Entrants

6.2.2. Bargaining Power of Buyers

6.2.3. Threat of Substitutes

6.2.4. Segment Rivalry

6.2.5. Bargaining Power of Supplies

7. Global Marine Battery Market, by Battery Type

7.1. Introduction

7.2. Valve-regulated Lead Acid (VRLA) Batteries

7.2.1. Absorbed Glass Mat (AGM) Batteries

7.2.2. Gel Batteries

7.3. Flooded Lead Acid Batteries

7.4. Others

8. Global Marine Battery Market, by Application

8.1. Introduction

8.2. Marine Starting Service

8.3. Deep Cycle Service

8.4. Dual Purpose Service

9. Global Marine Battery Market, by Ship Type

9.1. Introduction

9.2. Commercial

9.2.1. Cargo vessels

9.2.1.1. Container Vessels

9.2.1.2. Tankers

9.2.1.3. Bulk Carriers

9.2.1.4. General Cargo Ships

9.2.2. Passenger Vessels

9.2.2.1. Cruise Ships

9.2.2.2. Yachts

9.2.2.3. Ferries

9.2.3. Others

9.2.3.1. Fishing Vessels

9.2.3.2. Dredgers

9.2.3.3. Tugs & Workboats

9.2.3.4. Research Vessels

9.2.3.5. Submarines

9.3. Defense

9.3.1. Destroyers

9.3.2. Destroyers

9.3.3. Frigates

9.3.4. Corvettes

9.3.5. Offshore Support Vessels (OSV)

9.3.6. Aircraft Carriers

9.3.7. Submarines

10. Global Marine Battery Market, by Region

10.1. Introduction

10.2. North America

10.2.1. US

10.2.2. Canada

10.3. Europe

10.3.1. UK

10.3.2. Germany

10.3.3. France

10.3.4. Italy

10.3.5. Rest of Europe

10.4. Asia-Pacific

10.4.1. China

10.4.2. Japan

10.4.3. India

10.4.4. Australia

10.4.5. Rest of Asia-Pacific

10.5. Middle East & Africa

10.5.1. Saudi Arabia

10.5.2. UAE

10.5.3. Rest of Middle East & Africa

10.6. Latin America

10.6.1. Brazil

10.6.2. Rest of Latin America

11. Competitive Landscape

11.1. Competitive Overview

11.2. Competitor Dashboard

11.3. Major Growth Key Strategies in the Global Marine Battery Market

11.4. Competitive Benchmarking

11.5. Market Share Analysis

11.6. Leading Player in terms of the Number of Developments in the Global Marine Battery Market

11.7. Key Developments & Growth Strategies

11.7.1. New Product Launch/Service Application

11.7.2. Merger & Acquisition

11.7.3. Joint Ventures

12. Company Profiles

12.1. Key Market Players

(Company overview, financial updates, products & service offered, key developments, SWOT analysis, and key strategies to be provided for all the listed companies)

12.1.1. East Penn Manufacturing

12.1.2. EnerSys

12.1.3. EverExceed

12.1.4. Exide Industries

12.1.5. Exide Technologies

12.1.6. GS Yuasa

12.1.7. HBL

12.1.8. Korea Special Battery

12.1.9. Manbat Ltd

12.1.10. Saft Groupe SA

12.1.11. Systems Sunlight SA

12.1.12. Zibo Torch Energy

13. Appendix

13.1. References

13.2. Related Reports

13.3. List of Abbreviation 

List of Tables

TABLE 1 LIST OF ASSUMPTIONS

TABLE 2 MAJOR PATENTS GRANTED FOR MARINE BATTERY (2015–2020)

TABLE 3 BATTERY TYPE: GLOBAL MARINE BATTERY MARKET, 2020–2027 (USD MILLION)

TABLE 4 APPLICATION: GLOBAL MARINE BATTERY MARKET, 2020–2027 (USD MILLION)

TABLE 5 SHIP TYPE: GLOBAL MARINE BATTERY MARKET, 2020–2027 (USD MILLION)

TABLE 6 GLOBAL MARINE BATTERY MARKET, BY REGION, 2020–2027 (USD MILLION)

TABLE 7 NORTH AMERICA: MARINE BATTERY MARKET, BY COUNTRY, 2020–2027 (USD MILLION)

TABLE 8 NORTH AMERICA: MARINE BATTERY MARKET, BY BATTERY TYPE, 2020–2027 (USD MILLION)

TABLE 9 NORTH AMERICA: MARINE BATTERY MARKET, BY APPLICATION, 2020–2027 (USD MILLION)

TABLE 10 NORTH AMERICA: MARINE BATTERY MARKET, BY SHIP TYPE, 2020–2027 (USD MILLION)

TABLE 11 US: MARINE BATTERY MARKET, BY BATTERY TYPE, 2020–2027 (USD MILLION)

TABLE 12 US: MARINE BATTERY MARKET, BY APPLICATION, 2020–2027 (USD MILLION)

TABLE 13 US: MARINE BATTERY MARKET, BY SHIP TYPE, 2020–2027 (USD MILLION)

TABLE 14 CANADA: MARINE BATTERY MARKET, BY BATTERY TYPE, 2020–2027 (USD MILLION)

TABLE 15 CANADA: MARINE BATTERY MARKET, BY APPLICATION, 2020–2027 (USD MILLION)

TABLE 16 CANADA: MARINE BATTERY MARKET, BY SHIP TYPE, 2020–2027 (USD MILLION)

TABLE 17 EUROPE: MARINE BATTERY MARKET, BY COUNTRY, 2020–2027 (USD MILLION)

TABLE 18 EUROPE: MARINE BATTERY MARKET, BY BATTERY TYPE, 2020–2027 (USD MILLION)

TABLE 19 EUROPE: MARINE BATTERY MARKET, BY APPLICATION, 2020–2027 (USD MILLION)

TABLE 20 EUROPE: MARINE BATTERY MARKET, BY SHIP TYPE, 2020–2027 (USD MILLION)

TABLE 21 UK: MARINE BATTERY MARKET, BY BATTERY TYPE, 2020–2027 (USD MILLION)

TABLE 22 UK: MARINE BATTERY MARKET, BY APPLICATION, 2020–2027 (USD MILLION)

TABLE 23 UK: MARINE BATTERY MARKET, BY SHIP TYPE, 2020–2027 (USD MILLION)

TABLE 24 GERMANY: MARINE BATTERY MARKET, BY BATTERY TYPE, 2020–2027 (USD MILLION)

TABLE 25 GERMANY: MARINE BATTERY MARKET, BY APPLICATION, 2020–2027 (USD MILLION)

TABLE 26 GERMANY: MARINE BATTERY MARKET, BY SHIP TYPE, 2020–2027 (USD MILLION)

TABLE 27 FRANCE: MARINE BATTERY MARKET, BY BATTERY TYPE, 2020–2027 (USD MILLION)

TABLE 28 FRANCE: MARINE BATTERY MARKET, BY APPLICATION, 2020–2027 (USD MILLION)

TABLE 29 FRANCE: MARINE BATTERY MARKET, BY SHIP TYPE, 2020–2027 (USD MILLION)

TABLE 30 ITALY: MARINE BATTERY MARKET, BY BATTERY TYPE, 2020–2027 (USD MILLION)

TABLE 31 ITALY: MARINE BATTERY MARKET, BY APPLICATION, 2020–2027 (USD MILLION)

TABLE 32 ITALY: MARINE BATTERY MARKET, BY SHIP TYPE, 2020–2027 (USD MILLION)

TABLE 33 REST OF EUROPE: MARINE BATTERY MARKET, BY BATTERY TYPE, 2020–2027 (USD MILLION)

TABLE 34 REST OF EUROPE: MARINE BATTERY MARKET, BY APPLICATION, 2020–2027 (USD MILLION)

TABLE 35 REST OF EUROPE: MARINE BATTERY MARKET, BY SHIP TYPE, 2020–2027 (USD MILLION)

TABLE 36 ASIA-PACIFIC: MARINE BATTERY MARKET, BY COUNTRY, 2020–2027 (USD MILLION)

TABLE 37 ASIA-PACIFIC: MARINE BATTERY MARKET, BY BATTERY TYPE, 2020–2027 (USD MILLION)

TABLE 38 ASIA-PACIFIC: MARINE BATTERY MARKET, BY APPLICATION, 2020–2027 (USD MILLION)

TABLE 39 ASIA-PACIFIC: MARINE BATTERY MARKET, BY SHIP TYPE, 2020–2027 (USD MILLION)

TABLE 40 CHINA: MARINE BATTERY MARKET, BY BATTERY TYPE, 2020–2027 (USD MILLION)

TABLE 41 CHINA: MARINE BATTERY MARKET, BY APPLICATION, 2020–2027 (USD MILLION)

TABLE 42 CHINA: MARINE BATTERY MARKET, BY SHIP TYPE, 2020–2027 (USD MILLION)

TABLE 43 INDIA: MARINE BATTERY MARKET, BY BATTERY TYPE, 2020–2027 (USD MILLION)

TABLE 44 INDIA: MARINE BATTERY MARKET, BY APPLICATION, 2020–2027 (USD MILLION)

TABLE 45 INDIA: MARINE BATTERY MARKET, BY SHIP TYPE, 2020–2027 (USD MILLION)

TABLE 46 JAPAN: MARINE BATTERY MARKET, BY BATTERY TYPE, 2020–2027 (USD MILLION)

TABLE 47 JAPAN: MARINE BATTERY MARKET, BY APPLICATION, 2020–2027 (USD MILLION)

TABLE 48 JAPAN: MARINE BATTERY MARKET, BY SHIP TYPE, 2020–2027 (USD MILLION)

TABLE 49 AUSTRALIA: MARINE BATTERY MARKET, BY BATTERY TYPE, 2020–2027 (USD MILLION)

TABLE 50 AUSTRALIA: MARINE BATTERY MARKET, BY APPLICATION, 2020–2027 (USD MILLION)

TABLE 51 AUSTRALIA: MARINE BATTERY MARKET, BY SHIP TYPE, 2020–2027 (USD MILLION)

TABLE 52 REST OF ASIA-PACIFIC: MARINE BATTERY MARKET, BY BATTERY TYPE, 2020–2027 (USD MILLION)

TABLE 53 REST OF ASIA-PACIFIC: MARINE BATTERY MARKET, BY APPLICATION, 2020–2027 (USD MILLION)

TABLE 54 REST OF ASIA-PACIFIC: MARINE BATTERY MARKET, BY SHIP TYPE, 2020–2027 (USD MILLION)

TABLE 55 MIDDLE EAST & AFRICA: MARINE BATTERY MARKET, BY COUNTRY, 2020–2027 (USD MILLION)

TABLE 56 MIDDLE EAST & AFRICA: MARINE BATTERY MARKET, BY BATTERY TYPE, 2020–2027 (USD MILLION)

TABLE 57 MIDDLE EAST & AFRICA: MARINE BATTERY MARKET, BY APPLICATION, 2020–2027 (USD MILLION)

TABLE 58 MIDDLE EAST & AFRICA: MARINE BATTERY MARKET, BY SHIP TYPE, 2020–2027 (USD MILLION)

TABLE 59 SAUDI ARABIA: MARINE BATTERY MARKET, BY BATTERY TYPE, 2020–2027 (USD MILLION)

TABLE 60 SAUDI ARABIA: MARINE BATTERY MARKET, BY APPLICATION, 2020–2027 (USD MILLION)

TABLE 61 SAUDI ARABIA: MARINE BATTERY MARKET, BY SHIP TYPE, 2020–2027 (USD MILLION)

TABLE 62 UAE: MARINE BATTERY MARKET, BY BATTERY TYPE, 2020–2027 (USD MILLION)

TABLE 63 UAE: MARINE BATTERY MARKET, BY APPLICATION, 2020–2027 (USD MILLION)

TABLE 64 UAE: MARINE BATTERY MARKET, BY SHIP TYPE, 2020–2027 (USD MILLION)

TABLE 65 REST OF THE MIDDLE EAST & AFRICA: MARINE BATTERY MARKET, BY BATTERY TYPE, 2020–2027 (USD MILLION)

TABLE 66 REST OF THE MIDDLE EAST & AFRICA: MARINE BATTERY MARKET, BY APPLICATION, 2020–2027 (USD MILLION)

TABLE 67 REST OF THE MIDDLE EAST & AFRICA: MARINE BATTERY MARKET, BY SHIP TYPE, 2020–2027 (USD MILLION)

TABLE 68 LATIN AMERICA: MARINE BATTERY MARKET, BY COUNTRY, 2020–2027 (USD MILLION)

TABLE 69 LATIN AMERICA: MARINE BATTERY MARKET, BY BATTERY TYPE, 2020–2027 (USD MILLION)

TABLE 70 LATIN AMERICA: MARINE BATTERY MARKET, BY APPLICATION, 2020–2027 (USD MILLION)

TABLE 71 LATIN AMERICA: MARINE BATTERY MARKET, BY SHIP TYPE, 2020–2027 (USD MILLION)

TABLE 72 BRAZIL: MARINE BATTERY MARKET, BY BATTERY TYPE, 2020–2027 (USD MILLION)

TABLE 73 BRAZIL: MARINE BATTERY MARKET, BY APPLICATION, 2020–2027 (USD MILLION)

TABLE 74 BRAZIL: MARINE BATTERY MARKET, BY SHIP TYPE, 2020–2027 (USD MILLION)

TABLE 75 REST OF LATIN AMERICA: MARINE BATTERY MARKET, BY BATTERY TYPE, 2020–2027 (USD MILLION)

TABLE 76 REST OF LATIN AMERICA: MARINE BATTERY MARKET, BY APPLICATION, 2020–2027 (USD MILLION)

TABLE 77 REST OF LATIN AMERICA: MARINE BATTERY MARKET, BY FREQUENCY- BAND, 2020–2027 (USD MILLION)

TABLE 78 THE MOST ACTIVE PLAYERS IN THE GLOBAL MARINE BATTERY MARKET

TABLE 79 CONTRACTS AND AGREEMENTS

TABLE 80 MERGERS AND ACQUISITIONS

TABLE 81 PRODUCT DEVELOPMENTS

TABLE 82 EXPANSIONS AND INVESTMENTS

TABLE 83 JOINT VENTURES AND PARTNERSHIPS


List of Figures

FIGURE 1 MARKET SYNOPSIS

FIGURE 2 GLOBAL MARINE BATTERY MARKET: MARKET ATTRACTIVENESS ANALYSIS

FIGURE 3 GLOBAL MARINE BATTERY MARKET ANALYSIS, BY BATTERY TYPE

FIGURE 4 GLOBAL MARINE BATTERY MARKET ANALYSIS, BY APPLICATION

FIGURE 5 GLOBAL MARINE BATTERY MARKET ANALYSIS, BY SHIP TYPE

FIGURE 6 GLOBAL MARINE BATTERY MARKET ANALYSIS, BY REGION

FIGURE 7 GLOBAL MARINE BATTERY MARKET: MARKET STRUCTURE

FIGURE 8 KEY BUYING CRITERIA FOR MARINE BATTERY TYPES

FIGURE 9 RESEARCH PROCESS OF MRFR

FIGURE 10 NORTH AMERICA: MARKET SIZE & MARKET SHARE, BY COUNTRY, 2020 VS 2027

FIGURE 11 EUROPE: MARKET SIZE & MARKET SHARE, BY COUNTRY, 2020 VS 2027

FIGURE 12 ASIA-PACIFIC: MARKET SIZE & MARKET SHARE, BY COUNTRY, 2020 VS 2027

FIGURE 13 MIDDLE EAST & AFRICA: MARKET SIZE & MARKET SHARE, BY COUNTRY, 2020 VS 2027

FIGURE 14 LATIN AMERICA: MARKET SIZE & MARKET SHARE, BY REGION, 2020 VS 2027

FIGURE 15 MARKET DYNAMICS OVERVIEW

FIGURE 16 DRIVERS IMPACT ANALYSIS: GLOBAL MARINE BATTERY MARKET

FIGURE 17 CHALLENGES IMPACT ANALYSIS: GLOBAL MARINE BATTERY MARKET

FIGURE 18 PORTER’S FIVE FORCES ANALYSIS OF THE GLOBAL MARINE BATTERY MARKET

FIGURE 19 SUPPLY CHAIN: GLOBAL MARINE BATTERY MARKET

FIGURE 20 GLOBAL MARINE BATTERY MARKET SHARE, BY BATTERY TYPE, 2020 (% SHARE)

FIGURE 21 GLOBAL MARINE BATTERY MARKET SHARE, BY SHIP TYPE, 2020 (% SHARE)

FIGURE 22 GLOBAL MARINE BATTERY MARKET SHARE, BY REGION, 2020 (% SHARE)

FIGURE 23 NORTH AMERICA: MARINE BATTERY MARKET SHARE, BY COUNTRY, 2020 (% SHARE)

FIGURE 24 EUROPE: MARINE BATTERY MARKET SHARE, BY COUNTRY, 2020 (% SHARE)

FIGURE 25 ASIA-PACIFIC: MARINE BATTERY MARKET SHARE, BY COUNTRY, 2020 (% SHARE)

FIGURE 26 MIDDLE EAST & AFRICA: MARINE BATTERY MARKET SHARE, BY COUNTRY, 2020 (% SHARE)

FIGURE 27 LATIN AMERICA: MARINE BATTERY MARKET SHARE, BY COUNTRY, 2020 (% SHARE)

FIGURE 28 COMPETITOR DASHBOARD: GLOBAL MARINE BATTERY MARKET

FIGURE 29 CAPITAL MARKET RATIO AND FINANCIAL MATRIX

FIGURE 30 CONTRACTS & AGREEMENTS: THE MAJOR STRATEGY ADOPTED BY KEY PLAYERS IN THE GLOBAL MARINE BATTERY MARKET

FIGURE 31 BENCHMARKING OF MAJOR COMPETITORS

FIGURE 32 MAJOR MANUFACTURERS MARKET SHARE ANALYSIS, 2020