WASHINGTON, Jan. 11, 2022 (GLOBE NEWSWIRE) -- The Global Marine Battery Market size is expected to reach over USD 1.5 billion by 2028, exhibiting a CAGR of 19.6% during the forecast period.
Market Synopsis
The factors affecting the growth of the market for marine battery significantly are rising water sports activities and increase in marine transportation demand. However, safety from being cheated on price and proper maintenance of the current hinders the growth of market for marine battery. On the other hand, renewable energy use and hybrid propulsion technology advancement is facilitating the marine battery market growth, states Vantage Market Research, in a report, titled “Marine Battery Market by Propulsion Type (Fully Electric, Hybrid, Conventional), By Application (Commercial, Defence, Unmanned), by Battery Function (Starting Batteries, Deep-Cycle Batteries, Dual-Purpose Batteries), by Battery Design (Solid-State Batteries, Flow Batteries), by Nominal Capacity (<100AH, 100-250AH, >250AH), by Battery Type (Lead-Acid Battery, Lithium-Ion, Nickel Cadmium, Sodium Type, Flooded, Gel, Fuel cell), by Sales Channel (OEM, Aftermarket), and by Region (North America, Europe, Asia Pacific, Latin America and Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)”.
Click Here To Access The Free Sample Report @ https://www.vantagemarketresearch.com/marine-battery-market-1113/request-sample
(The Free Sample Of This Report Is Readily Available On Request).
Our Free Sample Reports Includes:
- In-depth Industry Analysis, Introduction, Overview, and COVID-19 Pandemic Outbreak.
- Impact Analysis 170+ Pages Research Report (Including latest research)
- Provide chapter-wise guidance on request 2020 Updated Regional Analysis with Graphical Representation of Trends, Size, & Share, Includes Updated List of figures and tables.
- Updated Report Includes Major Market Players with their Sales Volume, Business Strategy and Revenue Analysis by using VMR research methodology.
(Please note that the sample of this report has been updated to include the COVID-19 impact study prior to delivery.)
List Of Prominent Players in the Marine Battery Market:
| Sr. No. | Companies | Headquarters |
| 1. | Saft Total | France, Europe |
| 2. | Corvus Energy | Canada, North America |
| 3. | Wartsila | Finland, Europe |
| 4. | Siemens | Germany, Europe |
| 5. | Enchandia AB | Sweden, Europe |
| 6. | Akasol AG | Germany, Europe |
| 7. | Toshiba | Japan, Asia Pacific |
| 8. | Leclanché SA | Switzerland, Europe |
Market Dynamics:
Restraint: Limited Range and Capacity of Fully Electric Ships
Limited travel capacity and distance are key restraints for full-electric ships. On average these ships, can cover 80 km distance on a single charge. A major limitation associated with electric ships is the range they can cover before the batteries need recharging. Hybrid ships can relieve this restraint to an extent by the installation of diesel generators as they can charge these batteries and fuels the ship in times for the extra requirement of the power or when the batteries are exhausted. Nonetheless, this cannot solve the difficulty of having a shipping with “zero-emission” and transport industry concept.
The quantity that fully electric ships can transport with respect to deadweight tonnage is also restricted. China’s first cargo ship which is fully electric can travel 80 km and can take 2,200 tons of cargo. A ship which has large container can carry 2 Lakh container loads of cargo approximately. The engine weighs 2,300 tons itself approximately. There is a huge gap between the capacity of the engine of an electric ship and a diesel ship in terms of the amount of it can haul.
Directly Purchase a copy of the report with TOC @ https://www.vantagemarketresearch.com/buy-now/marine-battery-market-1113/1
Opportunity: Hybrid Propulsion for Large Ships
Currently, a technology referred as hybrid propulsion is most appropriate for small vessels like, cruise ships and ferries. However, with the expansion of electric propulsion technology in marine and alternative fuels like fuel cells is a huge opportunity to work on electric propulsion systems is available for manufacturers of larger ships.
In the UK, Ferguson Marine, a shipbuilder, has built a ferry which is diesel-electric hybrid, the Catriona, which is worth USD 14 million to use on its Hebridean and Clyde routes for CalMac. It works by combining electric battery power with diesel power. According to A Smarter Journey, a report published by Bellona and Siemens in 2018 June, out of180-strong Norwegian ferry fleet 70% could be converted to a hybrid or battery propulsion, 43 to some form of hybrid technology, and 84 to all-electric.
Important questions answered in this report:
- What is the estimated market size and growth rate of the Marine Battery Market?
- Which segments are included in the Marine Battery Market?
- Which top companies are active in the Marine Battery Market?
- What are the major driving factors for the growth of the Marine Battery Market?
- How can I get free sample reports or study of Marine Battery Market?
Regional Trends
Europe is anticipated to witness largest market share in the market for marine battery in the forecast period globally owing to an increasing shipbuilding sector in Europe which is contributing to the ships demand with hybrid propulsion batteries. Furthermore, the efforts undertaken by manufacturing companies of ship and increasing investment in the ships electrification are additional factors fuelling the marine battery market growth in Europe.
The marine battery market in Asia Pacific and North America are likely to grow at a significant rate during in the coming years. The market in South America and Middle East & Africa is likely to develop at a moderate pace in the coming years.
Read Full Research Report @ https://www.vantagemarketresearch.com/industry-report/marine-battery-market-1113
Recent Developments
- Feb, 2021: Wärtsilä signed a strategic partnership agreement with SAACKE, a Germany based global supplier of marine firing plants for seagoing vessels, offshore plants and LNG tankers.
- Nov, 2020: Wärtsilä won the contract to supply the engines and a range of its electric solutions for two new ferries under construction at the China Merchants Jinling Shipyard (Weihai) in China.
- Sep, 2019: Corvus Energy received a contract from AIDA Cruises (Germany) to supply a battery package for its cruise vessels. Under this contract, Corvus Energy will supply a 10MWh energy storage system for the AIDAperla ship by 2020.
The COVID-19 outbreak has affected various industries worldwide. Governments across the world implemented strict lockdown measures and social distancing norms in order to restrict the swift spread of the pandemic. Manufacturing facilities around the world were shut down during the initial stages of the pandemic. Moreover, the economic crisis after the pandemic might lead to a significant delay in the commercial roll-out of the Marine Battery Market. Hence, market players faced numerous challenges as disruptions in the supply chain were observed. However, things will improve in the second half of 2022 as more supplies will come online. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends of the market for all the regions and countries based on the following data points:
- Impact Assessment of COVID-19 Pandemic
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- Quarterly Market Revenue Forecast by Asia Pacific 2020 & 2021
- Key Strategies Undertaken by Companies to Tackle COVID-19
- Long Term Dynamics
- Short Term Dynamics
Browse market data Tables and Figures spread through Pages and in-depth TOC on "Marine Battery Market by Battery Type (Lithium, Nickel Cadmium, Fuel Cell, Lead-acid), by Propulsion Type (Fully Electric, Hybrid, Conventional), by Application (Commercial, Defense), by Region (North America, Europe, Asia Pacific, Latin America and Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)" View detailed Table of Content here – https://www.vantagemarketresearch.com/press-release/marine-battery-market-307182
The report on Marine Battery Market highlights:
- Assessment of the market
- Premium Insights
- Competitive Landscape
- COVID Impact Analysis
- Historic Data, Estimates and Forecast
- Company Profiles
- Global and Regional Dynamics
This market titled “Marine Battery Market” will cover exclusive information in terms of Geographic Segmentation, Regional Analysis, Forecast, and Quantitative Date – Units, Key Market Trends, and various others as mentioned below:
| Report Attribute | Details |
| Market Size in 2020 | USD 400 Million |
| Projected Market Size in 2028 | USD 1.5 Billion |
| CAGR Growth Rate | CAGR of 19.6% from 2021 to 2028 |
| Base Year | 2020 |
| Historic Years | 2016 – 2019 |
| Forecast Years | 2021 – 2028 |
| Segments Covered | Propulsion Type, Application, Battery Function, Battery Design, Nominal Capacity, Battery Type, Sales Channel, and Geography |
| Quantitative Data - Units | Revenue in USD Million/Billion and CAGR from 2021 to 2028 |
| Regions Covered | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World |
| Countries Covered | U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others |
| Report Coverage | Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis. |
| Purchase Options | Request customized purchase options to meet your research needs. Explore purchase options |
Advantages of this Research:
- Evaluate market share for commercial Marine Battery market opportunities, track market size, competitive drug sales, synthesis insights for commercial development and licensing.
- Develop tactics and strategies to take advantage of opportunities in the Marine Battery market.
- Latest Trends and Market Events and analyze essential events in Marine Battery market.
- Develop an in-depth knowledge of competition and analyze sales data to update your brand planning trackers.
- Answer vital business questions; supports decision making in R&D to long term marketing strategies
- Develop economic models, forecast models, and healthcare frameworks.
Customization of the Report:
The report can be customized as per client needs or requirements. For any queries, you can contact us on sales@vantagemarketresearch.com or +1 (202) 380-9727. Our sales executives will be happy to understand your needs and provide you with the most suitable reports.
Browse More Related Report:
- Plant Growth Chambers Market:- https://www.vantagemarketresearch.com/industry-report/plant-growth-chambers-market-1120
- Pneumatic Tube System Market:- https://www.vantagemarketresearch.com/industry-report/pneumatic-tube-system-market-1137
- Bottled Water Testing Equipment Market:- https://www.vantagemarketresearch.com/industry-report/bottled-water-testing-equipment-market-1084
- Farm Equipment Market:- https://www.vantagemarketresearch.com/industry-report/farm-equipment-market-1059
About Vantage Market Research:
We, at Vantage Market Research, provide quantified B2B high quality research on more than 20,000 emerging markets, in turn, helping our clients map out constellation of opportunities for their businesses. We, as a competitive intelligence market research and consulting firm provide end to end solutions to our client enterprises to meet their crucial business objectives. Our clientele base spans across 70% of Global Fortune 500 companies. The company provides high quality data and market research services. The company serves various enterprises and clients in a wide variety of industries. The company offers detailed reports on multiple industries including Chemical Materials and Energy, Food and Beverages, Healthcare Technology, etc. The company’s experienced team of Analysts, Researchers, and Consultants use proprietary data sources and numerous statistical tools and techniques to gather and analyse information.
Follow Us on LinkedIn: https://www.linkedin.com/company/vantage-market-research/
Contact us
Eric Kunz
6218 Georgia Avenue NW Ste 1 - 564
Washington DC 20011-5125
United States Tel: +1 202 380 9727
Email: sales@vantagemarketresearch.com
Website: https://www.vantagemarketresearch.com/
Latest Vantage Market Research Press Releases @ https://www.vantagemarketresearch.com/insight/press-releases
Latest Vantage Market Research Blog @ https://www.vantagemarketresearch.com/insight/blogs
