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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Leading Companies in Marine Battery Market
The market players are focusing on providing products at competitive prices and high quality, with improved customer service, product support, and performance features.
Toshiba Corporation
Headquartered in Japan and founded in 1875, Toshiba Corporation delivers products and services through its business domains, namely, Energy Systems & Solutions, Infrastructure Systems & Solutions, Building Solutions, Retail & Printing Solutions, Electronic Devices & Storage Solutions, Digital Solutions, and Battery Business. The company offers solutions for the marine battery industry under the SCiB™ lithium-ion battery brand.
Siemens Energy AG
Headquartered in Germany and founded in 1847, Siemens Energy, a subsidiary of Siemens AG is a leading entity in the global energy technology sector. The company’s comprehensive portfolio includes conventional and renewable technologies, such as gas turbines, steam turbines and power transformers. Its marine battery solution, BlueVault™ energy storage solutions is an advanced lithium-ion battery-based solution, suited for both all-electric and hybrid energy-storage applications.
Corvus Energy Holding
Headquartered in Norway and founded in 2009, Corvus Energy specialises in the deployment of large-scale energy storage systems (ESS), employing cutting-edge lithium-ion battery technology that is reliable across a diverse array of demanding maritime and transportation applications. Corvus Energy serves as the premier supplier of battery systems for hybrid and electric commercial marine vessels, including ferries, cruise ships, offshore supply vessels, and tugboats.
Leclanché SA
Headquartered in Switzerland and founded in 1909, Leclanché stands as a globally renowned provider of top-tier energy storage solutions. The company encompasses the development of proprietary lithium cells, battery modules, racks, and packs, alongside rafting sophisticated Battery Management Systems and Energy Management Software. The company’s marine battery solution includes Navius MRS-3 Marine Rack System.
Other notable players in the marine battery market report are PowerTech Systems, Saft Groupe SAS, Contemporary Amperex Technology Co. Ltd., GS Yuasa Corporation, AYK Energy Ltd., Echandia Group AB, and EVE Energy Co., Ltd., among others.
Marine Battery Market Report Snapshots
Marine Battery Market Regional Analysis
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The market attained a value of USD 742.9 million in 2023.
The marine battery market is estimated to grow at a CAGR of 16.2% during 2024-2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach a value of USD 2,869.4 million by 2032.
The factors driving the market growth are governmental targets to reduce the emissions of the shipping sector, a rising ageing fleet of marine vessels, and rising maritime trade.
The major trends in the market growth include advancement in battery technology, reducing costs of batteries, and a growing charging infrastructure at ports.
The key regional markets marine battery are North America, Europe, Asia Pacific, and Latin America, Middle East and Africa.
The applications include commercial and defence.
The battery types include lithium, lead-acid battery, fuel cell, and others.
The key players in the market include Toshiba Corporation, Siemens Energy AG, Corvus Energy Holding, Leclanché SA, Powertech Systems, Saft Groupe SAS, Contemporary Amperex Technology Co. Ltd., GS Yuasa Corporation, AYK Energy Ltd., Echandia Group AB, and EVE Energy Co., Ltd., among others.
Limited charging infrastructure in many regions and heavy weight and size of current battery technologies are hindering the market growth.
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