Marine Battery Market by Battery Type (Lithium, Nickel Cadmium, Fuel Cell, Lead-acid), Propulsion Type (Fully Electric, Hybrid, Conventional), Ship Type, Sales Channel, Nominal Capacity, Battery Design, Battery Function, & Region (2021-2030)
[271 Pages Report] The Marine Battery Market size is projected to grow from USD 374 million in 2021 to USD 1,897 million by 2030, at a CAGR of 19.8% from 2021 to 2030.
The market is driven by various factors, such as rise in conversion of propulsion system in passenger vessel, Increasing sea borne trade across globe and growing maritime tourism industry.
The Marine Battery Market includes major players such Wartsila (Finland), Akasol AG (Germany), Corvus Energy (Canada), Enchandia AB (Sweden), Saft Total (France), Siemens (Germany), and Leclanché SA (Switzerland). These players have spread their business across various countries includes North America, Europe, Asia Pacific, and Rest of the World. COVID-19 has impacted their businesses as well. Industry experts believe that COVID-19 has affected electric ship production and services globally in 2020.
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COVID-19 Impact on the Marine Battery Market
As with other industries, the Coronavirus Pandemic has affected the shipping industry as well. The shipping industry has become a major part of any country’s supply chain, which was significantly affected by the global pandemic. The shipping industry is dependent upon production which was brought to a halt to prevent people from being affected by the virus, resulting in significant stress for the shipping industry.
Market Dynamics of Marine Battery Market
Drivers: Rising demand for electric and hybrid passenger vessels
The marine battery market potential for passenger vessels is extremely high in comparison to other vessels. According to a research study by Siemens, a global provider of hybrid & fully electric ship propulsion and energy storage systems, Denmark has 52 operational ferries, of which 39 ferries have the potential to be more profitable after conversion to battery-driven/electric propulsion. Electrification of these 39 electric ferries can provide the following returns to operators:
- Operating and maintenance costs are reduced by USD 12 million (DKK 81 million) per year
- Fuel consumption is reduced from 19,000 tons a year to 0.
The additional investment cost of an electric ferry is approximately USD 1.4 million, which is more than the cost of a conventional ferry. The additional investment takes into account the price of new batteries, the cost of expanding the existing electricity grid locally to the port mooring, and transformer costs for building charging stations at the port. According to Siemens, of the 180 ferries operating in Norway, 43 ferries have the potential to be converted into hybrid solutions and turn a profit. Hybrid solutions would use a combination of battery power and either diesel- or gas-driven propulsion systems. North American and European countries, such as the US and Norway, have already been implementing these changes to their inland transport, as there is a high demand for hybrid and fully electric passenger vessels in these countries. The governments of these countries are also pushing for a cleaner mode of waterway transportation. Furthermore, the cost of operation of an electric vessel is substantially lower than that of a diesel-run vessel. This is anticipated to increase the demand for electric ships, thereby leading to a rise in demand for marine batteries to operate these electric ships. In May 2021, Echandia secured a contract from Damen Shipyards to supply LTO batteries for three fully electric ferries to run between the cities of Rotterdam and Drecht. This is the fourth contract Damen awarded to Echandia and the second part of a project to supply batteries for a total of nine waterbuses.
Restraints: Limited range and capacity of fully electric ships
Limited travel distance and capacity are major restraints of full-electric ships. These ships, on average, can travel 80 km on a single charge. The largest fully electric passenger vessel, the Ellen ferry operating in Denmark, can undergo a round trip of 22 nautical miles. A huge limitation regarding electric ships is the range they can travel before the batteries require recharging. Hybrid ships can alleviate this constraint to an extent by installing diesel generators that can charge the batteries and propel the ship in times of extra power requirement or when the batteries are depleted. However, this does not solve the problem of having a “zero-emission” shipping and transport industry concept.
The capacity in terms of deadweight tonnage that fully electric ships can carry is also limited. China’s first fully electric cargo ship can travel 80 km and carry 2,200 tons of cargo. A large container ship can carry approximately 200,000 container loads of cargo. The engine itself weighs approximately 2,300 tons. There is a vast gap between the engine capacity of a diesel ship and an electric ship in the amount of cargo it can haul. It is also challenging to bridge the gap with the current battery technology.
Challenges: Impact of COVID-19
As with other industries, the coronavirus pandemic has affected the shipping industry as well. The shipping industry has become a major part of any country’s supply chain, which was significantly affected by the global pandemic. The shipping industry is dependent upon production, which was brought to a halt to prevent people from being affected by the virus, resulting in significant stress for the shipping industry.
One of the major challenges faced by the shipping industry is the failure to maintain vessels, which leads to operational failure. This results in delays and hindrances in the shipping industry due to irregular breakdowns. Travel restrictions due to the pandemic also were one of the major challenges for engineers in undertaking regular repairs. During the pandemic, key players such as ABB (Switzerland), Wartsila (Finland), and General Electric (US) faced a decline in revenue as compared to the previous fiscal year.
These challenges are being resolved to improve the current scenario in the industry. The cost of shipping is high due to low demand as well as low availability of vessels. This trend is expected to continue till the end of the pandemic. The shipping industry is expected to make efforts to overcome the challenges caused due to COVID-19 as countries are now focusing on maintaining supply chains to enable running businesses.
Opportunities: Hybrid propulsion technology for large ships
Currently, hybrid propulsion technology is most suitable for small vessels such as ferries and cruise ships. However, with the development of marine electric propulsion technology and alternative fuels such as fuel cells, there is a huge opportunity for manufacturers to work on electric propulsion systems for larger ships.
In the UK, a shipbuilder, Ferguson Marine, has built a diesel-electric hybrid ferry, the Catriona, worth USD 14 million for CalMac to use on its Clyde and Hebridean routes. Catriona’s hybrid system works by combining diesel power with electric battery power. According to a report named A Smarter Journey, published by Siemens and Bellona in June 2018, 70% of the 180-strong Norwegian ferry fleet could be converted to a battery or hybrid propulsion, 84 to all-electric, and 43 to some form of hybrid technology.
Marine Battery Market in Europe is projected to grow the highest amount from 2021 to 2030.
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Based on region, the Marine Battery Market in Europe is projected to grow the highest CAGR during the forecast period, from USD 180.8 Million in 2021 to USD 959.1 Million in 2030 due to the increase in demand for electric ships for fully electric passenger vessels, tugs, yachts, and cruise vessels, among others. Countries such as Norway, Finland, and Denmark have actively started replacing conventional passenger ferries with fully electric passenger ferries. Major developments in autonomous electric vessels that use fuel cells and remotely controlled electric vessels are also driving the market in Europe to grow.
Key Market Players
The Marine Battery Market includes major players such Wartsila (Finland), Akasol AG (Germany), Corvus Energy (Canada), Enchandia AB (Sweden), Saft Total (France), Siemens (Germany), and Leclanché SA (Switzerland). These players have spread their business across various countries includes North America, Europe, Asia Pacific, and Rest of the World. COVID-19 has impacted their businesses as well. Industry experts believe that COVID-19 has affected electric ship production and services globally in 2020.
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|
Report Metric |
Details |
|
Market size available for years |
2017–2030 |
|
Base year considered |
2020 |
|
Forecast period |
2021-2030 |
|
Forecast units |
Value (USD Billion) |
|
Segments covered |
By Application, By Battery Design, By Battery Function, By Battery Type, By Nominal Capacity, Sales Channel, Ship Power, Energy Density, Regional. |
|
Geographies covered |
North America, Europe, Asia Pacific, and Rest of the World |
|
Companies covered |
Wartsila (Finland), Akasol AG (Germany), Corvus Energy (Canada), Enchandia AB (Sweden), Saft Total (France), Siemens (Germany), and Leclanché SA (Switzerland) |
The study categorizes the Marine Battery Market based on type, system, mode of operation, ship type, power, range, tonnage, end use, and region
By Application
- Commercial
- Defense
- Unmanned
By Battery Design
- Solid-State Batteries
- Flow Batteries
By Battery Function
- Starting Batteries
- Deep-Cycle Batteries
- Dual-Purpose Batteries
Marine Battery Market, By Battery Type
- Lithium-Ion
- Nickel Cadmium
- Sodium Type
- Lead-Acid Battery
- Flooded
- Gel
- Fuel Cell
By Nominal Capacity
- <100 Ah
- 100–250 Ah
- >250 Ah
By Propulsion Type
- Introduction
- Fully Electric
- Hybrid
- Conventional
By Sales Channel
- Introduction
- Oem
- Aftermarket
Marine Battery Market, By Ship Power
- <75 Kw
- 76–745 Kw
- 746–7,560 Kw
- >7,560 Kw
Marine Battery Market, By Energy Density
- <1000 Kwh
- 1001 - 10000 Kwh
- >10000 Kwh
Regional Analysis
- 19.1 North America
- 19.2 Europe
- 19.3 Asia Pacific
- 19.4 Rest Of The World
Recent Developments
- In September 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.
- In February 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.
- In November 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.
- In February 2019, Corvus Energy received a contract from Norwegian Electric Systems (Norway) for the marine world’s largest battery package for the hybrid-powered vessel.
- In December 2018, Siemens received a contract from AKOFS OFFSHORE (Norway) to upgrade its AKOFS Seafarer vessel with a Siemens BlueVault Energy Storage Solution.
Frequently Asked Questions (FAQ):
What are your views on the growth perspective of the Marine Battery Market? What are key dynamics such as drivers and opportunities, and trends that govern the market?
The MB market is expected to grow substantially owing to the technological development in propulsion technology and the Sulfur 2020.
What are the key sustainability strategies adopted by leading players operating in the Marine Battery Market?
Key players have adopted various organic and inorganic strategies to strengthen their position in the MB market. Players such as Wartsila, GE, Corvus and Siemens have adopted various growth strategies such as contracts, acquisitions, expansions, new product launches, and partnerships & agreements to expand their presence in the Marine Battery Market further.
What are the new emerging technologies and use cases disrupting the Marine Battery Market?
Technologies such hybrid propulsion, high energy density batteries, fuel cells and fully electric propulsion are some of the emerging technologies involved in the MB Market
What are the applications, wherein marine batteries for commercial use play a significant role?
Marine Batteries play an important role in low-cost shipping, passenger transportation, ferries, ro-ro boats and barges. They are also making their presence seen in recreational vessels.
What are the key trends and opportunities in marine battery market across different regions and their respective countries?
Several major players are developing new methods of hybrid and fully electric propulsion as well as high energy density power storage and supply systems. Several regulatory bodies and governments are also passing regulations which support the growth of the eco-systems.
Who are the key players and innovators in the ecosystem of the marine batteries?
Wartsila (Finland), Akasol AG (Germany), Corvus Energy (Canada), Enchandia AB (Sweden), Saft Total (France), Siemens (Germany), and Leclanché SA (Switzerland).
Which supplier of marine batteries had a maximum share in the market in 2021?
The following suppliers have the majority share in the Marine Battery market Siemens (11%), Corvus (30% for ESS), ABB (7%). .
To speak to our analyst for a discussion on the above findings, click Speak to Analyst
TABLE OF CONTENTS
1 INTRODUCTION (Page No. - 38)
1.1 OBJECTIVES OF THE STUDY
1.2 MARKET DEFINITION
1.2.1 MARINE BATTERY MARKET: INCLUSIONS AND EXCLUSIONS
1.3 STUDY SCOPE
1.3.1 MARKETS COVERED
FIGURE 1 MARINE BATTERY MARKET SEGMENTATION
1.3.2 REGIONAL SCOPE
1.3.3 YEARS CONSIDERED FOR THE STUDY
1.4 CURRENCY & PRICING
1.5 USD EXCHANGE RATES
1.6 LIMITATIONS
1.7 MARKET STAKEHOLDERS
1.8 SUMMARY OF CHANGES
2 RESEARCH METHODOLOGY (Page No. - 44)
2.1 RESEARCH DATA
FIGURE 2 REPORT PROCESS FLOW
FIGURE 3 MARINE BATTERY MARKET: RESEARCH DESIGN
2.1.1 SECONDARY DATA
2.1.1.1 Key data from secondary sources
2.1.2 PRIMARY DATA
2.1.2.1 Breakdown of primaries
FIGURE 4 BREAKDOWN OF PRIMARY INTERVIEWS: BY COMPANY TYPE, DESIGNATION, & REGION
2.2 FACTOR ANALYSIS
2.2.1 INTRODUCTION
2.2.2 DEMAND-SIDE INDICATORS
2.2.2.1 Growing maritime tourism industry
2.2.3 SUPPLY-SIDE ANALYSIS
2.2.3.1 Advanced batteries for electric & hybrid ships
2.3 MARKET DEFINITION & SCOPE
2.3.1 SEGMENT DEFINITIONS
2.3.1.1 Marine battery market, by sales channel
2.3.1.2 Marine battery market, by battery type
2.3.1.3 Marine battery market, by propulsion type
2.3.1.4 Marine battery market, by nominal capacity
2.3.1.5 Marine battery market, by energy density
2.3.1.6 Marine battery market, by ship type
2.3.1.7 Marine battery market, by battery function
2.3.1.8 Marine battery market, by battery design
2.3.1.9 Marine battery market, by ship power
2.3.2 EXCLUSIONS
2.3.3 KEY INDUSTRY INSIGHTS
2.3.4 PRIMARIES INTERVIEWEES DETAILS
2.4 MARKET SIZE ESTIMATION & METHODOLOGY
2.4.1 BOTTOM-UP APPROACH
FIGURE 5 MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH
2.4.2 TOP-DOWN APPROACH
FIGURE 6 MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH
2.5 DATA TRIANGULATION
FIGURE 7 DATA TRIANGULATION: MARINE BATTERY MARKET
2.6 MARKET SIZING & FORECASTING
FIGURE 8 RESEARCH ASSUMPTIONS
2.7 LIMITATIONS
2.8 GROWTH FORECAST
3 EXECUTIVE SUMMARY (Page No. - 56)
FIGURE 9 BY PROPULSION TYPE, CONVENTIONAL SEGMENT PROJECTED TO LEAD MARINE BATTERY MARKET DURING FORECAST PERIOD
FIGURE 10 BY BATTERY TYPE, LITHIUM SEGMENT PROJECTED TO LEAD MARINE BATTERY MARKET FROM 2020 TO 2030
FIGURE 11 BY SALES CHANNEL, AFTERMARKET SEGMENT PROJECTED TO LEAD MARINE BATTERY MARKET DURING FORECAST PERIOD
FIGURE 12 BY REGION, EUROPE ESTIMATED TO LEAD MARINE BATTERY MARKET FROM 2021 TO 2030
4 PREMIUM INSIGHTS (Page No. - 59)
4.1 ATTRACTIVE GROWTH OPPORTUNITIES IN MARINE BATTERY MARKET
FIGURE 13 IMPLEMENTATION OF SULFUR 2020 RULE AND DEVELOPMENT OF LITHIUM-ION BATTERIES DRIVE MARINE BATTERY MARKET
4.2 MARINE BATTERY MARKET, BY SALES CHANNEL
FIGURE 14 AFTERMARKET SEGMENT TO LEAD MARINE BATTERY MARKET FROM 2021 TO 2030
4.3 MARINE BATTERY MARKET, BY SHIP TYPE
FIGURE 15 COMMERCIAL SEGMENT PROJECTED TO DOMINATE MARINE BATTERY MARKET DURING FORECAST PERIOD
4.4 MARINE BATTERY MARKET, BY SHIP POWER
FIGURE 16 150–745 KW SEGMENT TO LEAD MARINE BATTERY MARKET FROM 2021 TO 2030
4.5 MARINE BATTERY MARKET, BY REGION
FIGURE 17 EUROPE ACCOUNTED FOR LARGEST SHARE OF MARINE BATTERY MARKET IN 2020
5 MARKET OVERVIEW (Page No. - 62)
5.1 INTRODUCTION
5.1.1 ROADMAP OF MARINE ELECTRIFICATION
TABLE 1 MILESTONES OF IMPLEMENTATION PLAN FOR ELECTRIFICATION IN MARINE TRANSPORT (2025-2035-2050)
5.2 MARKET DYNAMICS
FIGURE 18 MARINE BATTERY MARKET DYNAMICS: DRIVERS, RESTRAINTS, OPPORTUNITIES, & CHALLENGES
5.2.1 DRIVERS
5.2.1.1 Implementation of sulfur 2020 rule
TABLE 2 SULFUR CONTENT REGULATIONS IN BUNKER FUEL
5.2.1.2 Rising demand for electric and hybrid passenger vessels
5.2.1.3 Increase in seaborne trade globally
FIGURE 19 GLOBAL SEABORNE TRADE, BY QUANTITY TRADED, 2006–2017 (PRE-COVID-19)
5.2.1.4 Growing maritime tourism industry
FIGURE 20 INCREASE IN NUMBER OF CRUISE PASSENGERS IN EUROPE, 2015–2020
FIGURE 21 GLOBAL CRUISE INDUSTRY SHARE, BY REGION, 2020
5.2.1.5 Development of lithium batteries
FIGURE 22 MOST COMMON LITHIUM-ION BATTERIES WITH KEY FEATURES
TABLE 3 CURRENT BATTERY CAPACITY AND REQUIREMENTS OF SOME SHIPS
5.2.2 RESTRAINTS
5.2.2.1 Long downtime during retrofitting of ships resulting in revenue loss
5.2.2.2 Limited range and capacity of fully electric ships
5.2.3 OPPORTUNITIES
5.2.3.1 Potential for marine battery manufacturers to develop high powered batteries
FIGURE 23 RELATIVE FEASIBILITY OF DIFFERENT ENERGY STORAGE TECHNOLOGIES
5.2.3.2 Potential for battery charging via renewable energy sources
5.2.3.3 Hybrid propulsion technology for large ships
FIGURE 24 AVERAGE SHIP SIZE BY DEADWEIGHT TONNAGE (DWT)
5.2.4 CHALLENGES
5.2.4.1 Inadequate charging infrastructure
5.2.4.2 High initial capital expenditure
TABLE 4 CAPITAL EXPENDITURE AND ANNUAL SAVINGS
TABLE 5 CAPITAL EXPENDITURE AND PAYBACK
TABLE 6 CAPITAL EXPENDITURE, SAVINGS, AND PAYBACK
5.3 COVID-19 IMPACT ON MARINE BATTERY MARKET
5.4 RANGE/SCENARIOS
FIGURE 25 PESSIMISTIC, REALISTIC, AND OPTIMISTIC SCENARIOS OF MARINE BATTERY MARKET WITH REGARDS TO COVID-19 PANDEMIC
5.5 TRENDS/DISRUPTIONS IMPACTING CUSTOMERS’ BUSINESS
5.5.1 REVENUE SHIFT AND NEW REVENUE POCKETS FOR MARINE BATTERY MARKET
5.6 SUPPLY CHAIN ANALYSIS
FIGURE 26 VALUE CHAIN ANALYSIS: MARINE BATTERY MARKET
5.7 AVERAGE SELLING PRICE
5.8 MARKET ECOSYSTEM MAP
5.8.1 PROMINENT COMPANIES
5.8.2 PRIVATE AND SMALL ENTERPRISES
5.8.3 END USERS
FIGURE 27 MARKET ECOSYSTEM MAP: MARINE BATTERY MARKET
TABLE 7 MARINE BATTERY MARKET ECOSYSTEM
5.9 PORTER’S FIVE FORCES MODEL
TABLE 8 PORTER’S FIVE FORCES ANALYSIS
FIGURE 28 PORTER’S FIVE FORCES ANALYSIS OF MARINE BATTERY MARKET
5.10 CASE STUDY ANALYSIS
5.10.1 ROLLS-ROYCE MARINE – 2020
5.10.2 KONGSBERG AND YARA – 2020
5.10.3 JAPANESE CONSORTIUM – 2025
5.11 TARIFF AND REGULATORY LANDSCAPE
6 INDUSTRY TRENDS (Page No. - 85)
6.1 INTRODUCTION
6.2 ROADMAP TOWARD EMISSION-FREE SHIPPING INDUSTRY
FIGURE 29 ROADMAP TOWARD EMISSION-FREE SHIPPING INDUSTRY
6.3 PHASING OF MARINE PROPULSION TECHNOLOGIES
FIGURE 30 POTENTIAL PHASING OF DIFFERENT PROPULSION TECHNOLOGIES IN MARINE INDUSTRY
6.4 EMERGING TRENDS
FIGURE 31 EMERGING TRENDS
6.4.1 ELECTRIFICATION OF LEISURE BOATS
6.4.2 POTENTIAL OF HYBRID TECHNOLOGY
6.4.3 FULLY ELECTRIC FERRIES FOR PASSENGER TRANSPORT
6.4.4 SOLAR SAILS
6.4.5 ADVANCED BATTERIES FOR ELECTRIC SHIPS
6.4.6 POTENTIAL OF HYDROGEN AS ZERO-EMISSION FUEL FOR SHIPPING INDUSTRY
6.4.7 BATTERY POWERED NAVAL VESSELS
6.4.8 NEXT-GENERATION SOLID STATE BATTERY TECHNOLOGY
6.4.8.1 Table: Summary of Commercial Batteries
6.5 SUPPLY CHAIN ANALYSIS
FIGURE 32 SUPPLY CHAIN ANALYSIS
6.6 INNOVATIONS & PATENT REGISTRATIONS
7 MARINE BATTERY MARKET, BY SHIP TYPE (Page No. - 94)
7.1 INTRODUCTION
FIGURE 33 BY SHIP TYPE, COMMERCIAL SEGMENT TO LEAD MARINE BATTERY MARKET DURING FORECAST PERIOD
TABLE 9 MARINE BATTERY MARKET SIZE, BY SHIP TYPE, 2017–2020 (USD MILLION)
TABLE 10 MARINE BATTERY MARKET SIZE, BY SHIP TYPE, 2021–2030 (USD MILLION)
TABLE 11 MARINE BATTERY MARKET SIZE, BY SHIP TYPE, 2017–2020 (UNITS)
TABLE 12 MARINE BATTERY MARKET SIZE, BY SHIP TYPE, 2021–2030 (UNITS)
7.2 COMMERCIAL
TABLE 13 MARINE BATTERY MARKET SIZE, BY COMMERCIAL SHIP, 2017–2020 (UNITS)
TABLE 14 COMMERCIAL MARINE BATTERY MARKET SIZE, BY COMMERCIAL SHIP, 2021–2030 (UNITS)
7.2.1 INLAND VESSELS
TABLE 15 INLAND VESSELS: MARKET SIZE, BY TYPE, 2017–2020 (UNITS)
TABLE 16 INLAND VESSELS: MARKET SIZE, BY TYPE, 2021–2030 (UNITS)
7.2.1.1 Passenger vessels
TABLE 17 INLAND PASSENGER VESSELS: MARKET SIZE, BY TYPE, 2017–2020 (UNITS)
TABLE 18 INLAND PASSENGER VESSELS: MARKET SIZE, BY TYPE, 2021–2030 (UNITS)
7.2.1.1.1 Yachts
7.2.1.1.1.1 Fully electric yachts can use solar power to charge their batteries
7.2.1.1.2 Ferries
7.2.1.1.2.1 High adoption of electric ferries in North America and Europe due to changing environmental regulations
7.2.1.1.3 Cruise ships
7.2.1.1.3.1 Adoption of hybrid-electric propulsion technologies for cruise ships to increase in coming years
7.2.1.2 Cargo vessels
7.2.1.2.1 Inland cargo ships
7.2.1.2.1.1 High market potential for inland cargo ships
7.2.1.2.2 Inland tankers
7.2.1.2.2.1 Lithium-ion battery-based fully electric shipping tanker designed by Japanese companies
7.2.1.2.3 Dry cargo carriers
7.2.1.2.3.1 Rise in demand for new dry cargo carriers to handle increasing cargo volume will increase demand for battery propulsion
7.2.1.2.4 Barges
7.2.1.2.4.1 More manufacturers looking forward to developing battery-driven barges for emission-free sailing
7.2.1.3 Fishing vessels
7.2.1.3.1 Fuel consumption of fully electric fishing vessels reduced by 80% compared to other conventional fishing vessels
7.2.1.4 Tugs & workboats
7.2.1.4.1 Electrification of tugs & workboats will help significantly reduce emissions at ports
7.2.1.5 Research vessels
7.2.1.5.1 Market for retrofitting research vessels larger than that of newbuilds at present
7.2.2 SEAFARING VESSELS
7.2.2.1 Passenger vessels
7.2.2.1.1 Adoption of hybrid-electric propulsion technologies for cruise ships to increase in coming years
7.2.2.2 Cargo vessels
7.2.2.2.1 Container vessels
7.2.2.2.1.1 Electrification of container ships will happen first, gradually followed by larger container ships
7.2.2.2.2 Bulk carriers
7.2.2.2.2.1 Bulk carriers can only be fitted with hybrid-electric propulsion systems due to constraints faced by pure battery systems
7.2.2.2.3 Tankers
7.2.2.2.3.1 Japanese companies designed a domestic fully electric shipping tanker that uses lithium-ion batteries
7.2.2.2.4 General cargo vessels
7.2.2.2.4.1 Batteries installed on cargo vessels can sustain them to sail in and out of harbors for approximately 30 minutes, after which the vessels will switch to diesel engine
7.2.2.3 Fishing vessels
7.2.2.3.1 Fuel consumption on electric fishing vessels can be reduced by 80% compared to other fishing vessels by using battery-driven propulsion system
7.2.2.4 Research vessels
7.2.2.4.1 Market for retrofitting research vessels is larger than that of newbuilds at present
7.2.2.5 Submarines
7.2.2.5.1 Remotely operated vehicle (ROV)
7.2.2.5.1.1 Multiple advantages of ROVs to drive market growth
7.2.2.5.2 Autonomous underwater vehicle (AUV)
7.2.2.5.2.1 Provide more accurate data due to better payload capacity
7.3 DEFENSE
TABLE 19 MARKET SIZE, BY DEFENSE SHIP, 2017–2020 (UNITS)
TABLE 20 MARKET SIZE, BY DEFENSE SHIP, 2021–2030 (UNITS)
7.3.1 DESTROYERS
7.3.1.1 Defense forces of countries like US, UK, and India focus on integrating electric propulsive destroyers into their fleet to gain high operational efficiency
7.3.2 FRIGATES
7.3.2.1 Naval forces of countries like US and India plan to install hybrid propulsion systems for frigates
7.3.3 CORVETTES
7.3.3.1 Defense forces of several countries ordering all-electric propulsion corvettes
7.3.4 AMPHIBIOUS SHIPS
7.3.4.1 Naval forces worldwide considering the possibility of using amphibious ships with hybrid propulsion
7.3.5 OFFSHORE SUPPORT VESSELS (OSVS)
7.3.5.1 OSVs available in hybrid and electric propulsion setups
7.3.6 SUBMARINES
7.3.6.1 Countries like US, France, and India currently use or develop electric propulsion systems for their fleet of submarines
7.4 UNMANNED UNDERWATER VEHICLES
8 MARINE BATTERY MARKET, BY BATTERY FUNCTION (Page No. - 108)
8.1 INTRODUCTION
FIGURE 34 DUAL-PURPOSE BATTERIES SEGMENT TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD
TABLE 21 MARKET SIZE, BY BATTERY FUNCTION, 2017–2020 (UNITS)
TABLE 22 MARKET SIZE, BY BATTERY FUNCTION, 2021–2030 (UNITS)
TABLE 23 MARKET SIZE, BY BATTERY FUNCTION, 2017–2020 (USD MILLION)
TABLE 24 MARKET SIZE, BY BATTERY FUNCTION, 2021–2030 (USD MILLION)
8.2 STARTING BATTERIES
8.2.1 DEMAND FOR QUICK AND POWERFUL SPURT OF ENERGY TO START SHIP ENGINES TO DRIVE MARKET FOR STARTING BATTERIES
8.3 DEEP-CYCLE BATTERIES
8.3.1 DEMAND FOR RECOVERING FULLY AFTER HEAVY DISCHARGE WILL FUEL MARKET FOR DEEP-CYCLE BATTERIES
8.4 DUAL-PURPOSE BATTERIES
8.4.1 RISE IN SMALL-SIZED VESSELS GLOBALLY WILL LEAD TO INCREASED DEMAND FOR DUAL-PURPOSE BATTERIES
9 MARINE BATTERY MARKET, BY NOMINAL CAPACITY (Page No. - 112)
9.1 INTRODUCTION
FIGURE 35 > 250 AH SEGMENT TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD
TABLE 25 MARKET SIZE, BY NOMINAL CAPACITY, 2017–2020 (UNITS)
TABLE 26 MARKET SIZE, BY NOMINAL CAPACITY, 2021–2030 (UNITS)
TABLE 27 MARKET SIZE, BY NOMINAL CAPACITY, 2017–2020 (USD MILLION)
TABLE 28 MARKET SIZE, BY NOMINAL CAPACITY, 2021–2030 (USD MILLION)
9.2 <100 AH
9.2.1 INLAND FERRIES ADOPT BATTERIES WITH NOMINAL CAPACITY OF LESS THAN 100 AH
9.3 100–250 AH
9.3.1 DEMAND FOR BATTERIES WITH NOMINAL CAPACITY OF 100–250 AH FROM DRY CARGO VESSELS AND BARGES
9.4 >250 AH
9.4.1 RISE IN SEAFARING VESSELS GLOBALLY WILL LEAD TO INCREASED DEMAND FOR BATTERIES WITH >250 AH NOMINAL CAPACITY
10 MARINE BATTERY MARKET, BY PROPULSION TYPE (Page No. - 115)
10.1 INTRODUCTION
FIGURE 36 FULLY ELECTRIC SEGMENT TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD
TABLE 29 MARKET SIZE, BY PROPULSION TYPE, 2017–2020 (UNITS)
TABLE 30 MARKET SIZE, BY PROPULSION TYPE, 2021–2030 (UNITS)
TABLE 31 MARKET SIZE, BY PROPULSION TYPE, 2017–2020 (USD MILLION)
TABLE 32 MARKET SIZE, BY PROPULSION TYPE, 2021–2030 (USD MILLION)
10.2 FULLY ELECTRIC
10.2.1 FULLY ELECTRIC-DRIVEN SHIPS HAVE POSITIVE EFFECT ON ENVIRONMENT AS INCLUSION OF HIGH ENERGY STORAGE IN BATTERIES AND OPTIMIZED POWER CONTROL CAN REDUCE FUEL CONSUMPTION, MAINTENANCE, AND EMISSIONS
TABLE 33 GLOBAL ALL ELECTRIC SHIPS PROJECTS
10.3 HYBRID
10.3.1 DEVELOPMENT OF ADVANCED BATTERY TECHNOLOGY AND HYBRID BATTERY POWER SYSTEMS HAS BECOME A NECESSITY FOR SHIPS FOR POWER GENERATION
10.4 CONVENTIONAL
10.4.1 MAJOR SHIPOWNERS WITH CONVENTIONAL PROPULSION ARE RETROFITTING THEIR SYSTEMS WITH HYBRID-ELECTRIC PROPULSION TO REDUCE GREENHOUSE EMISSIONS
11 MARINE BATTERY MARKET, BY SHIP POWER (Page No. - 121)
11.1 INTRODUCTION
FIGURE 37 BY SHIP POWER, 150–745 SEGMENT TO LEAD MARKET DURING FORECAST PERIOD
TABLE 34 MARKET SIZE, BY SHIP POWER, 2017–2020 (UNITS)
TABLE 35 MARKET SIZE, BY SHIP POWER, 2021–2030 (UNITS)
TABLE 36 MARKET SIZE, BY SHIP POWER, 2017–2020 (USD MILLION)
TABLE 37 MARKET SIZE, BY SHIP POWER, 2021–2030 (USD MILLIONS)
11.2 <75 KW
11.2.1 DEMAND FOR FULLY ELECTRIC YACHTS IN EUROPE TO DRIVE MARKET
11.3 75–150 KW
11.3.1 USE OF FULLY ELECTRIC FERRIES FOR TRANSPORT WILL DRIVE MARKET
11.4 150–745 KW
11.4.1 LARGE RETROFIT POTENTIAL FOR CARGO VESSELS IN 150–745 KW RANGE
11.5 740–7,560 KW
11.5.1 INCREASED INVESTMENT IN HYBRID-ELECTRIC PROPULSION SYSTEMS DRIVE MARKET FOR ELECTRIC SHIPS
11.6 >7,560 KW
11.6.1 ADOPTION OF HYBRID-ELECTRIC PROPULSION SYSTEMS CHALLENGING IN SHIPS WITH HIGH POWER CAPACITY
12 MARINE BATTERY MARKET, BY BATTERY DESIGN (Page No. - 126)
12.1 INTRODUCTION
FIGURE 38 LIQUID/GEL-BASED SEGMENT TO REGISTER HIGHER CAGR THAN SOLID-STATE SEGMENT DURING FORECAST PERIOD
TABLE 38 MARKET SIZE, BY BATTERY DESIGN, 2017–2020 (UNITS)
TABLE 39 MARKET SIZE, BY BATTERY DESIGN, 2021–2030 (UNITS)
TABLE 40 MARKET SIZE, BY BATTERY DESIGN, 2017–2020 (USD MILLION)
TABLE 41 MARKET SIZE, BY BATTERY DESIGN, 2021–2030 (USD MILLION)
12.2 SOLID STATE
12.2.1 DEMAND FOR GREATER ENERGY DENSITY ANTICIPATED TO DRIVE MARKET FOR SOLID STATE BATTERIES
12.3 LIQUID/GEL-BASED
12.3.1 DEMAND FOR SAFER BATTERY SERVICE ANTICIPATED TO DRIVE MARKET FOR LIQUID/GEL-BASED
13 MARINE BATTERY MARKET, BY BATTERY TYPE (Page No. - 130)
13.1 INTRODUCTION
FIGURE 39 LITHIUM SEGMENT TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD
TABLE 42 MARKET SIZE, BY BATTERY TYPE, 2017–2020 (UNITS)
TABLE 43 MARKET SIZE, BY BATTERY TYPE, 2021–2030 (UNITS)
TABLE 44 MARKET SIZE, BY BATTERY TYPE, 2017–2020 (USD MILLION)
TABLE 45 MARKET SIZE, BY BATTERY TYPE, 2021–2030 (USD MILLION)
13.2 LITHIUM
13.2.1 CURRENTLY, HYBRID AND FULLY ELECTRIC VESSELS RELY ON LITHIUM BATTERIES FOR PRIME POWER SOURCE
13.3 LEAD-ACID
13.3.1 LEAD-ACID BATTERIES PREFERRED IN MARINE VESSELS AS THEY ARE DURABLE, EASILY RECYCLABLE, COST-EFFECTIVE, AND ENABLE SIMPLE CHARGING
13.3.2 FLOODED
13.3.3 GEL
13.3.4 AGM
13.4 NICKEL CADMIUM BATTERY
13.4.1 SPECIALTY NICAD BATTERIES ARE USED IN EMERGENCY LIGHTING, BACKUP SYSTEMS, SECONDARY POWER, AND OTHER SIMILAR APPLICATIONS
13.5 SODIUM-ION
13.5.1 SODIUM-ION BATTERIES HAVE HIGH ENERGY DENSITY AND LOW CHARGING TIME AND CAN BE USED AS SUBSTITUTE FOR LITHIUM-ION BATTERIES DUE TO ABUNDANCE OF SODIUM
13.6 FUEL CELL
13.6.1 FUEL CELL IS ALTERNATIVE TECHNOLOGY OF LITHIUM-ION AND LEAD-ACID BATTERIES THAT CAN HELP CUT DOWN CARBON EMISSIONS, ESPECIALLY COMPARED TO TRADITIONAL DIESEL-DRIVEN PROPULSION SYSTEMS
TABLE 46 ONGOING FUEL CELL PROJECTS IN SHIPPING INDUSTRY
13.6.2 HYDROGEN-BASED
13.6.3 AMMONIA-BASED
13.6.4 OXIDE-BASED
13.6.5 CARBON-BASED
14 MARINE BATTERY MARKET, BY SALES CHANNEL (Page No. - 137)
14.1 INTRODUCTION
FIGURE 40 AFTERMARKET SEGMENT TO REGISTER HIGHER CAGR THAN OEM SEGMENT DURING FORECAST PERIOD
TABLE 47 MARKET SIZE, BY SALES CHANNEL, 2017–2020 (USD MILLION)
TABLE 48 MARKET SIZE, BY SALES CHANNEL, 2021–2030 (USD MILLION)
TABLE 49 MARKET SIZE, BY SALES CHANNEL, 2017–2020 (UNITS)
TABLE 50 MARKET SIZE, BY SALES CHANNEL, 2021–2030 (UNITS)
14.2 0EM
14.2.1 HIGH DEMAND FOR FULLY ELECTRIC FERRIES IN EUROPE TO DRIVE THE MARKET FOR BATTERIES
14.3 AFTERMARKET
14.3.1 SHIPOWNERS UPDATE OR RETROFIT EQUIPMENT INSTALLED ON EXISTING VESSELS TO INCREASE EFFICIENCY AND EXTEND DURABILITY
15 MARINE BATTERY MARKET, BY ENERGY DENSITY (Page No. - 141)
15.1 INTRODUCTION
TABLE 51 ENERGY DENSITY AND SYSTEM ENERGY OF VARIOUS BATTERY TYPES
15.2 <100 WH/KG
15.2.1 <100 WH/KG BATTERIES USED FOR SECONDARY/EMERGENCY POWER APPLICATIONS
15.3 100–500 WH/KG
15.3.1 100–500 WH/KG BATTERIES USED FOR PRIMARY POWER STORAGE AND PROPULSION
15.4 >500 WH/KG
15.4.1 BATTERIES ABOVE 500 WH/KG ARE GENERALLY USED FOR APPLICATIONS LIKE PROPULSION
16 REGIONAL ANALYSIS (Page No. - 143)
16.1 INTRODUCTION
16.2 NORTH AMERICA
FIGURE 41 NORTH AMERICA MARINE BATTERY MARKET SNAPSHOT
TABLE 52 NORTH AMERICA: MARKET SIZE, BY COUNTRY, 2017–2020 (USD MILLION)
TABLE 53 NORTH AMERICA: MARKET SIZE, BY COUNTRY, 2021–2030 (USD MILLION)
TABLE 54 NORTH AMERICA: MARKET SIZE, BY SALES CHANNEL, 2017–2020 (USD MILLION)
TABLE 55 NORTH AMERICA: MARKET SIZE, BY SALES CHANNEL, 2021–2030 (USD MILLION)
TABLE 56 NORTH AMERICA: MARKET SIZE, BY PROPULSION TYPE, 2017–2020 (USD MILLION)
TABLE 57 NORTH AMERICA: MARKET SIZE, BY PROPULSION TYPE, 2021–2030 (USD MILLION)
TABLE 58 NORTH AMERICA: MARKET SIZE, BY SHIP TYPE, 2017–2020 (USD MILLION)
TABLE 59 NORTH AMERICA: MARKET SIZE, BY SHIP TYPE, 2021–2030 (USD MILLION)
TABLE 60 NORTH AMERICA: MARKET SIZE, BY BATTERY TYPE, 2017–2020 (USD MILLION)
TABLE 61 NORTH AMERICA: MARKET SIZE, BY BATTERY TYPE, 2021–2030 (USD MILLION)
16.2.1 US
16.2.1.1 Growing demand for luxury sailing to increase adoption of electric boats
TABLE 62 US: MARKET SIZE, BY SALES CHANNEL, 2017–2020 (USD MILLION)
TABLE 63 US: MARKET SIZE, BY SALES CHANNEL, 2021–2030 (USD MILLION)
TABLE 64 US: MARKET SIZE, BY PROPULSION TYPE, 2017–2020 (USD MILLION)
TABLE 65 US: MARKET SIZE, BY PROPULSION TYPE, 2021–2030 (USD MILLION)
TABLE 66 US: MARKET SIZE, BY SHIP TYPE, 2017–2020 (USD MILLION)
TABLE 67 US: MARKET SIZE, BY SHIP TYPE, 2021–2030 (USD MILLION)
TABLE 68 US: MARKET SIZE, BY BATTERY TYPE, 2017–2020 (USD MILLION)
TABLE 69 US: MARKET SIZE, BY BATTERY TYPE, 2021–2030 (USD MILLION)
16.2.2 CANADA
16.2.2.1 Canadian government’s strategic decision to develop its indigenous marine industry to grow market
TABLE 70 CANADA: MARKET SIZE, BY SALES CHANNEL, 2017–2020 (USD MILLION)
TABLE 71 CANADA: MARKET SIZE, BY SALES CHANNEL, 2021–2030 (USD MILLION)
TABLE 72 CANADA: MARKET SIZE, BY PROPULSION TYPE, 2017–2020 (USD MILLION)
TABLE 73 CANADA: MARKET SIZE, BY PROPULSION TYPE, 2021–2030 (USD MILLION)
TABLE 74 CANADA: MARKET SIZE, BY SHIP TYPE, 2017–2020 (USD MILLION)
TABLE 75 CANADA: MARKET SIZE, BY SHIP TYPE, 2021–2030 (USD MILLION)
TABLE 76 CANADA: MARKET SIZE, BY BATTERY TYPE, 2017–2020 (USD MILLION)
TABLE 77 CANADA: MARKET SIZE, BY BATTERY TYPE, 2021–2030 (USD MILLION)
16.3 EUROPE
FIGURE 42 EUROPE MARKET SNAPSHOT
TABLE 78 EUROPE: MARKET SIZE, BY COUNTRY, 2017–2020 (USD MILLION)
TABLE 79 EUROPE: MARKET SIZE, BY COUNTRY, 2021–2030 (USD MILLION)
TABLE 80 EUROPE: MARKET SIZE, BY SALES CHANNEL, 2017–2020 (USD MILLION)
TABLE 81 EUROPE: MARKET SIZE, BY SALES CHANNEL, 2021–2030 (USD MILLION)
TABLE 82 EUROPE: MARKET SIZE, BY PROPULSION TYPE, 2017–2020 (USD MILLION)
TABLE 83 EUROPE: MARKET SIZE, BY PROPULSION TYPE, 2021–2030 (USD MILLION)
TABLE 84 EUROPE: MARKET SIZE, BY SHIP TYPE, 2017–2020 (USD MILLION)
TABLE 85 EUROPE: MARKET SIZE, BY SHIP TYPE, 2021–2030 (USD MILLION)
TABLE 86 EUROPE: MARKET SIZE, BY BATTERY TYPE, 2017–2020 (USD MILLION)
TABLE 87 EUROPE: MARKET SIZE, BY BATTERY TYPE, 2021–2030 (USD MILLION)
16.3.1 NORWAY
16.3.1.1 Implementation of IMO rule driving adoption of battery propulsion in shipping industry in Norway
FIGURE 43 CO2 EMISSIONS FROM DOMESTIC SHIPPING IN NORWAY
TABLE 88 NORWAY: MARKET SIZE, BY SALES CHANNEL, 2017–2020 (USD MILLION)
TABLE 89 NORWAY: MARKET SIZE, BY SALES CHANNEL, 2021–2030 (USD MILLION)
TABLE 90 NORWAY: MARKET SIZE, BY PROPULSION TYPE, 2017–2020 (USD MILLION)
TABLE 91 NORWAY: MARKET SIZE, BY PROPULSION TYPE, 2021–2030 (USD MILLION)
TABLE 92 NORWAY: MARKET SIZE, BY SHIP TYPE, 2017–2020 (USD MILLION)
TABLE 93 NORWAY: MARKET SIZE, BY SHIP TYPE, 2021–2030 (USD MILLION)
16.3.2 SWEDEN
16.3.2.1 Stringent IMO 2020 rule driving demand for marine batteries in Sweden
TABLE 94 SWEDEN: MARKET SIZE, BY SALES CHANNEL, 2017–2020 (USD MILLION)
TABLE 95 SWEDEN: MARKET SIZE, BY SALES CHANNEL, 2021–2030 (USD MILLION)
TABLE 96 SWEDEN: MARKET SIZE, BY PROPULSION TYPE, 2017–2020 (USD MILLION)
TABLE 97 SWEDEN: MARKET SIZE, BY PROPULSION TYPE, 2021–2030 (USD MILLION)
TABLE 98 SWEDEN: MARKET SIZE, BY SHIP TYPE, 2017–2020 (USD MILLION)
TABLE 99 SWEDEN: MARKET SIZE, BY SHIP TYPE, 2021–2030 (USD MILLION)
16.3.3 NETHERLANDS
16.3.3.1 Push toward zero-emission ships driving marine battery market in Netherlands
TABLE 100 NETHERLANDS: MARKET SIZE, BY SALES CHANNEL, 2017–2020 (USD MILLION)
TABLE 101 NETHERLANDS: MARKET SIZE, BY SALES CHANNEL, 2021–2030 (USD MILLION)
TABLE 102 NETHERLANDS: MARKET SIZE, BY PROPULSION TYPE, 2017–2020 (USD MILLION)
TABLE 103 NETHERLANDS: MARKET SIZE, BY PROPULSION TYPE, 2021–2030 (USD MILLION)
TABLE 104 NETHERLANDS: MARKET SIZE, BY SHIP TYPE, 2017–2020 (USD MILLION)
TABLE 105 NETHERLANDS: MARKET SIZE, BY SHIP TYPE, 2021–2030 (USD MILLION)
16.3.4 FRANCE
16.3.4.1 Presence of stringent regulations drive demand for marine batteries in France
TABLE 106 FRANCE: MARKET SIZE, BY SALES CHANNEL, 2017–2020 (USD MILLION)
TABLE 107 FRANCE: MARKET SIZE, BY SALES CHANNEL, 2021–2030 (USD MILLION)
TABLE 108 FRANCE: MARKET SIZE, BY PROPULSION TYPE, 2017–2020 (USD MILLION)
TABLE 109 FRANCE: MARKET SIZE, BY PROPULSION TYPE, 2021–2030 (USD MILLION)
TABLE 110 FRANCE: MARKET SIZE, BY SHIP TYPE, 2017–2020 (USD MILLION)
TABLE 111 FRANCE: MARKET SIZE, BY SHIP TYPE, 2021–2030 (USD MILLION)
16.3.5 DENMARK
16.3.5.1 Stringent environmental regulations drive demand for marine batteries in Denmark
TABLE 112 DENMARK: MARKET SIZE, BY SALES CHANNEL, 2017–2020 (USD MILLION)
TABLE 113 DENMARK: MARKET SIZE, BY SALES CHANNEL, 2021–2030 (USD MILLION)
TABLE 114 DENMARK: MARKET SIZE, BY PROPULSION TYPE, 2017–2020 (USD MILLION)
TABLE 115 DENMARK: MARKET SIZE, BY PROPULSION TYPE, 2021–2030 (USD MILLION)
TABLE 116 DENMARK: MARKET SIZE, BY SHIP TYPE, 2017–2020 (USD MILLION)
TABLE 117 DENMARK: MARKET SIZE, BY SHIP TYPE, 2021–2030 (USD MILLION)
16.3.6 UK
16.3.6.1 Rising focus on adoption of batteries by shipbuilders in UK
TABLE 118 UK: MARKET SIZE, BY SALES CHANNEL, 2017–2020 (USD MILLION)
TABLE 119 UK: MARKET SIZE, BY SALES CHANNEL, 2021–2030 (USD MILLION)
TABLE 120 UK: MARKET SIZE, BY PROPULSION TYPE, 2017–2020 (USD MILLION)
TABLE 121 UK: MARKET SIZE, BY PROPULSION TYPE, 2021–2030 (USD MILLION)
TABLE 122 UK: MARKET SIZE, BY SHIP TYPE, 2017–2020 (USD MILLION)
TABLE 123 UK: MARKET SIZE, BY SHIP TYPE, 2021–2030 (USD MILLION)
16.3.7 FINLAND
16.3.7.1 Major focus on green marine technologies anticipated to drive market growth in Finland
TABLE 124 FINLAND: MARKET SIZE, BY SALES CHANNEL, 2017–2020 (USD MILLION)
TABLE 125 FINLAND: MARKET SIZE, BY SALES CHANNEL, 2021–2030 (USD MILLION)
TABLE 126 FINLAND: MARKET SIZE, BY PROPULSION TYPE, 2017–2020 (USD MILLION)
TABLE 127 FINLAND: MARKET SIZE, BY PROPULSION TYPE, 2021–2030 (USD MILLION)
TABLE 128 FINLAND: MARKET SIZE, BY SHIP TYPE, 2017–2020 (USD MILLION)
TABLE 129 FINLAND: MARKET SIZE, BY SHIP TYPE, 2021–2030 (USD MILLION)
16.3.8 REST OF EUROPE
TABLE 130 REST OF EUROPE: MARKET SIZE, BY SALES CHANNEL, 2017–2020 (USD MILLION)
TABLE 131 REST OF EUROPE: MARKET SIZE, BY SALES CHANNEL, 2021–2030 (USD MILLION)
TABLE 132 REST OF EUROPE: MARKET SIZE, BY PROPULSION TYPE, 2017–2020 (USD MILLION)
TABLE 133 REST OF EUROPE: MARKET SIZE, BY PROPULSION TYPE, 2021–2030 (USD MILLION)
TABLE 134 REST OF EUROPE: MARKET SIZE, BY SHIP TYPE, 2017–2020 (USD MILLION)
TABLE 135 REST OF EUROPE: MARKET SIZE, BY SHIP TYPE, 2021–2030 (USD MILLION)
16.4 ASIA PACIFIC
FIGURE 44 ASIA PACIFIC MARKET SNAPSHOT
TABLE 136 ASIA PACIFIC: MARKET SIZE, BY SALES CHANNEL, 2017–2020 (USD MILLION)
TABLE 137 ASIA PACIFIC: MARKET SIZE, BY SALES CHANNEL, 2021–2030 (USD MILLION)
TABLE 138 ASIA PACIFIC: MARKET SIZE, BY PROPULSION TYPE, 2017–2020 (USD MILLION)
TABLE 139 ASIA PACIFIC: MARKET SIZE, BY PROPULSION TYPE, 2021–2030 (USD MILLION)
TABLE 140 ASIA PACIFIC: MARKET SIZE, BY SHIP TYPE, 2017–2020 (USD MILLION)
TABLE 141 ASIA PACIFIC: MARKET SIZE, BY SHIP TYPE, 2021–2030 (USD MILLION)
TABLE 142 ASIA PACIFIC: MARKET SIZE, BY BATTERY TYPE, 2017–2020 (USD MILLION)
TABLE 143 ASIA PACIFIC: MARKET SIZE, BY BATTERY TYPE, 2021–2030 (USD MILLION)
TABLE 144 ASIA PACIFIC: MARKET VOLUME, BY COUNTRY, 2018–2030 (USD MILLION)
TABLE 145 ASIA PACIFIC: MARKET SIZE, BY COUNTRY, 2018–2030 (USD MILLION)
16.4.1 CHINA
16.4.1.1 Presence of several shipbuilding companies boost market growth in China
TABLE 146 CHINA: MARKET SIZE, BY SALES CHANNEL, 2017–2020 (USD MILLION)
TABLE 147 CHINA: MARKET SIZE, BY SALES CHANNEL, 2021–2030 (USD MILLION)
TABLE 148 CHINA: MARKET SIZE, BY PROPULSION TYPE, 2017–2020 (USD MILLION)
TABLE 149 CHINA: MARKET SIZE, BY PROPULSION TYPE, 2021–2030 (USD MILLION)
TABLE 150 CHINA: MARKET SIZE, BY SHIP TYPE, 2017–2020 (USD MILLION)
TABLE 151 CHINA: MARKET SIZE, BY SHIP TYPE, 2021–2030 (USD MILLION)
TABLE 152 CHINA: MARKET SIZE, BY BATTERY TYPE, 2017–2020 (USD MILLION)
TABLE 153 CHINA: MARKET SIZE, BY BATTERY TYPE, 2021–2030 (USD MILLION)
16.4.2 SOUTH KOREA
16.4.2.1 Development of fuel cells for ships’ propulsion systems expected to fuel market in South Korea
TABLE 154 SOUTH KOREA: MARKET SIZE, BY SALES CHANNEL, 2017–2020 (USD MILLION)
TABLE 155 SOUTH KOREA: MARKET SIZE, BY SALES CHANNEL, 2021–2030 (USD MILLION)
TABLE 156 SOUTH KOREA: MARKET SIZE, BY PROPULSION TYPE, 2017–2020 (USD MILLION)
TABLE 157 SOUTH KOREA: MARKET SIZE, BY PROPULSION TYPE, 2021–2030 (USD MILLION)
TABLE 158 SOUTH KOREA: MARKET SIZE, BY SHIP TYPE, 2017–2020 (USD MILLION)
TABLE 159 SOUTH KOREA: MARKET SIZE, BY SHIP TYPE, 2021–2030 (USD MILLION)
TABLE 160 SOUTH KOREA: MARKET SIZE, BY BATTERY TYPE, 2017–2020 (USD MILLION)
TABLE 161 SOUTH KOREA: MARKET SIZE, BY BATTERY TYPE, 2021–2030 (USD MILLION)
16.4.3 JAPAN
16.4.3.1 Increasing focus on reducing greenhouse gas emissions from international shipping
TABLE 162 JAPAN: MARKET SIZE, BY SALES CHANNEL, 2017–2020 (USD MILLION)
TABLE 163 JAPAN: MARKET SIZE, BY SALES CHANNEL, 2021–2030 (USD MILLION)
TABLE 164 JAPAN: MARKET SIZE, BY PROPULSION TYPE, 2017–2020 (USD MILLION)
TABLE 165 JAPAN: MARKET SIZE, BY PROPULSION TYPE, 2021–2030 (USD MILLION)
TABLE 166 JAPAN: MARKET SIZE, BY SHIP TYPE, 2017–2020 (USD MILLION)
TABLE 167 JAPAN: MARKET SIZE, BY SHIP TYPE, 2021–2030 (USD MILLION)
TABLE 168 JAPAN: MARKET SIZE, BY BATTERY TYPE, 2017–2020 (USD MILLION)
TABLE 169 JAPAN: MARKET SIZE, BY BATTERY TYPE, 2021–2030 (USD MILLION)
16.4.4 AUSTRALIA
16.4.4.1 Switch from diesel-driven ships to battery propelled ships in Australia to reduce operational costs
TABLE 170 AUSTRALIA: MARKET SIZE, BY SALES CHANNEL, 2017–2020 (USD MILLION)
TABLE 171 AUSTRALIA: MARKET SIZE, BY SALES CHANNEL, 2021–2030 (USD MILLION)
TABLE 172 AUSTRALIA: MARKET SIZE, BY PROPULSION TYPE, 2017–2020 (USD MILLION)
TABLE 173 AUSTRALIA: MARKET SIZE, BY PROPULSION TYPE, 2021–2030 (USD MILLION)
TABLE 174 AUSTRALIA: MARKET SIZE, BY SHIP TYPE, 2017–2020 (USD MILLION)
TABLE 175 AUSTRALIA: MARKET SIZE, BY SHIP TYPE, 2021–2030 (USD MILLION)
TABLE 176 AUSTRALIA: MARKET SIZE, BY BATTERY TYPE, 2017–2020 (USD MILLION)
TABLE 177 AUSTRALIA: MARKET SIZE, BY BATTERY TYPE, 2021–2030 (USD MILLION)
16.4.5 INDIA
16.4.5.1 Demand to reduce carbon emissions
TABLE 178 INDIA: MARKET SIZE, BY SALES CHANNEL, 2017–2020 (USD MILLION)
TABLE 179 INDIA: MARKET SIZE, BY SALES CHANNEL, 2021–2030 (USD MILLION)
TABLE 180 INDIA: MARKET SIZE, BY PROPULSION TYPE, 2017–2020 (USD MILLION)
TABLE 181 INDIA: MARKET SIZE, BY PROPULSION TYPE, 2021–2030 (USD MILLION)
TABLE 182 INDIA: MARKET SIZE, BY SHIP TYPE, 2017–2020 (USD MILLION)
TABLE 183 INDIA: MARKET SIZE, BY SHIP TYPE, 2021–2030 (USD MILLION)
TABLE 184 INDIA: MARKET SIZE, BY BATTERY TYPE, 2017–2020 (USD MILLION)
TABLE 185 INDIA: MARKET SIZE, BY BATTERY TYPE, 2021–2030 (USD MILLION)
16.4.6 REST OF ASIA PACIFIC
16.4.6.1 Development of electric passenger ferries expected to fuel demand for marine batteries in Rest of Asia Pacific
TABLE 186 REST OF ASIA PACIFIC: MARKET SIZE, BY SALES CHANNEL, 2017–2020 (USD MILLION)
TABLE 187 REST OF ASIA PACIFIC: MARKET SIZE, BY SALES CHANNEL, 2021–2030 (USD MILLION)
TABLE 188 REST OF ASIA PACIFIC: MARKET SIZE, BY PROPULSION TYPE, 2017–2020 (USD MILLION)
TABLE 189 REST OF ASIA PACIFIC: MARKET SIZE, BY PROPULSION TYPE, 2021–2030 (USD MILLION)
TABLE 190 REST OF ASIA PACIFIC: MARKET SIZE, BY SHIP TYPE, 2017–2020 (USD MILLION)
TABLE 191 REST OF ASIA PACIFIC: MARKET SIZE, BY SHIP TYPE, 2021–2030 (USD MILLION)
TABLE 192 REST OF ASIA PACIFIC: MARKET SIZE, BY BATTERY TYPE, 2017–2020 (USD MILLION)
TABLE 193 REST OF ASIA PACIFIC: MARKET SIZE, BY BATTERY TYPE, 2021–2030 (USD MILLION)
16.5 REST OF THE WORLD
TABLE 194 ROW: MARKET SIZE, BY REGION, 2017–2020 (USD MILLION)
TABLE 195 ROW: MARKET SIZE, BY REGION, 2021–2030 (USD MILLION)
TABLE 196 ROW: MARKET SIZE, BY SALES CHANNEL, 2017–2020 (USD MILLION)
TABLE 197 ROW: MARKET SIZE, BY SALES CHANNEL, 2021–2030 (USD MILLION)
TABLE 198 ROW: MARKET SIZE, BY PROPULSION TYPE, 2017–2020 (USD MILLION)
TABLE 199 ROW: MARKET SIZE, BY PROPULSION TYPE, 2021–2030 (USD MILLION)
TABLE 200 ROW: MARKET SIZE, BY SHIP TYPE, 2017–2020 (USD MILLION)
TABLE 201 ROW: MARKET SIZE, BY SHIP TYPE, 2021–2030 (USD MILLION)
TABLE 202 ROW: MARKET SIZE, BY BATTERY TYPE, 2017–2020 (USD MILLION)
TABLE 203 ROW: MARKET SIZE, BY BATTERY TYPE, 2021–2030 (USD MILLION)
16.5.1 LATIN AMERICA
16.5.1.1 Large fleet size of ships in Latin America encourages adoption of hybrid propulsion
TABLE 204 LATIN AMERICA: MARKET SIZE, BY SALES CHANNEL, 2017–2020 (USD MILLION)
TABLE 205 LATIN AMERICA: MARKET SIZE, BY SALES CHANNEL, 2021–2030 (USD MILLION)
TABLE 206 LATIN AMERICA: MARKET SIZE, BY PROPULSION TYPE, 2017–2020 (USD MILLION)
TABLE 207 LATIN AMERICA: MARKET SIZE, BY PROPULSION TYPE, 2021–2030 (USD MILLION)
TABLE 208 LATIN AMERICA: MARKET SIZE, BY SHIP TYPE, 2017–2020 (USD MILLION)
TABLE 209 LATIN AMERICA: MARKET SIZE, BY SHIP TYPE, 2021–2030 (USD MILLION)
TABLE 210 LATIN AMERICA: MARKET SIZE, BY BATTERY TYPE, 2017–2020 (USD MILLION)
TABLE 211 LATIN AMERICA: MARKET SIZE, BY BATTERY TYPE, 2021–2030 (USD MILLION)
16.5.2 MIDDLE EAST & AFRICA
16.5.2.1 Retrofitting of existing ship fleet driving demand for marine batteries in Middle East & Africa
TABLE 212 MIDDLE EAST & AFRICA: MARKET SIZE, BY SALES CHANNEL, 2017–2020 (USD MILLION)
TABLE 213 MIDDLE EAST & AFRICA: MARKET SIZE, BY SALES CHANNEL, 2021–2030 (USD MILLION)
TABLE 214 MIDDLE EAST & AFRICA: MARKET SIZE, BY PROPULSION TYPE, 2017–2020 (USD MILLION)
TABLE 215 MIDDLE EAST & AFRICA: MARKET SIZE, BY PROPULSION TYPE, 2021–2030 (USD MILLION)
TABLE 216 MIDDLE EAST & AFRICA: MARKET SIZE, BY SHIP TYPE, 2017–2020 (USD MILLION)
TABLE 217 MIDDLE EAST & AFRICA: MARKET SIZE, BY SHIP TYPE, 2021–2030 (USD MILLION)
TABLE 218 MIDDLE EAST & AFRICA: MARKET SIZE, BY BATTERY TYPE, 2017–2020 (USD MILLION)
TABLE 219 MIDDLE EAST & AFRICA: MARKET SIZE, BY BATTERY TYPE, 2021–2030 (USD MILLION)
17 COMPETITIVE LANDSCAPE (Page No. - 199)
17.1 INTRODUCTION
17.2 RANKING OF LEADING PLAYERS, 2020
FIGURE 45 MARKET RANKING OF LEADING PLAYERS IN MARKET, 2020
17.3 MARKET SHARE ANALYSIS OF LEADING PLAYERS, 2020
FIGURE 46 MARKET SHARE ANALYSIS OF LEADING PLAYERS IN MARKET (BATTERY SUPPLIER), 2020
FIGURE 47 MARKET SHARE ANALYSIS OF LEADING PLAYERS IN MARKET (SYSTEM INTEGRATORS), 2020
17.4 REVENUE ANALYSIS OF TOP 5 MARKET PLAYERS, 2020
FIGURE 48 REVENUE ANALYSIS OF LEADING PLAYERS IN MARKET, 2020
17.5 COMPETITIVE OVERVIEW
TABLE 220 KEY DEVELOPMENTS BY LEADING PLAYERS IN MARKET BETWEEN 2017 AND 2021
17.6 COMPANY PRODUCT FOOTPRINT ANALYSIS
TABLE 221 COMPANY PRODUCT FOOTPRINT
TABLE 222 COMPANY TECHNOLOGY FOOTPRINT
TABLE 223 COMPANY INDUSTRY FOOTPRINT
TABLE 224 COMPANY REGION FOOTPRINT
17.7 COMPANY EVALUATION QUADRANT
17.7.1 STAR
17.7.2 EMERGING LEADER
17.7.3 PERVASIVE
17.7.4 PARTICIPANT
FIGURE 49 MARKET COMPETITIVE LEADERSHIP MAPPING, 2020
17.8 COMPETITIVE SCENARIO
17.8.1 DEALS
TABLE 225 DEALS, 2019-2021
17.8.2 CONTRACTS
TABLE 226 CONTRACTS BY SHIP MANUFACTURERS/COMPONENT SUPPLIERS
17.8.3 PARTNERSHIPS, AGREEMENTS, JOINT VENTURES, AND COLLABORATIONS
17.8.4 PRODUCT LAUNCHES
TABLE 227 PRODUCT LAUNCHES, 2019-2021
18 COMPANY PROFILE (Page No. - 218)
(Business Overview, Products Offered, Recent Developments, MnM View Right to win, Strategic choices made, Weaknesses and competitive threats) *
18.1 SIEMENS
TABLE 228 SIEMENS: BUSINESS OVERVIEW
FIGURE 50 SIEMENS AG: COMPANY SNAPSHOT
18.2 LECLANCHÉ SA
TABLE 229 LECLANCHÉ SA: BUSINESS OVERVIEW
FIGURE 51 LECLANCHÉ SA: COMPANY SNAPSHOT
18.3 SAFT (TOTAL)
TABLE 230 SAFT: BUSINESS OVERVIEW
FIGURE 52 SAFT (TOTAL): COMPANY SNAPSHOT
18.4 CORVUS ENERGY
TABLE 231 CORVUS ENERGY: BUSINESS OVERVIEW
18.5 ECHANDIA MARINE AB
TABLE 232 ECHANDIA MARINE AB: BUSINESS OVERVIEW
18.6 AKASOL AG
TABLE 233 AKASOL AG BUSINESS OVERVIEW
18.7 EST-FLOATTECH
TABLE 234 EST-FLOATTECH: BUSINESS OVERVIEW
18.8 STERLING PLANB ENERGY SOLUTIONS
TABLE 235 STERLING PLANB ENERGY SOLUTIONS: BUSINESS OVERVIEW
18.9 SPEAR POWER SYSTEMS
TABLE 236 SPEAR POWER SYSTEMS: BUSINESS OVERVIEW
18.10 POWERTECH SYSTEMS
TABLE 237 POWERTECH SYSTEMS: BUSINESS OVERVIEW
18.11 LIFELINE BATTERIES
TABLE 238 LIFELINE BATTERIES: BUSINESS OVERVIEW
18.12 FURUKAWA BATTERY CO., LTD.
TABLE 239 FURUKAWA BATTERY CO., LTD.: BUSINESS OVERVIEW
FIGURE 53 FURUKAWA BATTERY CO., LTD.: COMPANY SNAPSHOT
18.13 LITHIUM WERKS
TABLE 240 LITHIUM WERKS: BUSINESS OVERVIEW
18.14 EXIDE TECHNOLOGIES
TABLE 241 EXIDE TECHNOLOGIES: BUSINESS OVERVIEW
18.15 EVEREXCEED INDUSTRIAL CO., LTD.
TABLE 242 EVEREXCEED INDUSTRIAL CO., LTD.: BUSINESS OVERVIEW
18.16 U.S. BATTERY MFG. CO.
TABLE 243 U.S. BATTERY MFG. CO.: BUSINESS OVERVIEW
18.17 CRAFTSMAN MARINE
TABLE 244 CRAFTSMAN MARINE: BUSINESS OVERVIEW
18.18 KOKAM CO., LTD.
TABLE 245 KOKAM CO., LTD.: BUSINESS OVERVIEW
18.19 TOSHIBA CORPORATION
TABLE 246 TOSHIBA CORPORATION: BUSINESS OVERVIEW
FIGURE 54 TOSHIBA CORPORATION: COMPANY SNAPSHOT
18.20 XALT ENERGY
TABLE 247 XALT ENERGY: BUSINESS OVERVIEW
18.21 FORSEE POWER
TABLE 248 FORSEE POWER: BUSINESS OVERVIEW
18.22 EAST PENN MANUFACTURING
TABLE 249 EAST PENN MANUFACTURING: BUSINESS OVERVIEW
18.23 ENERSYS
TABLE 250 ENERSYS: BUSINESS OVERVIEW
FIGURE 55 ENERSYS: COMPANY SNAPSHOT
18.24 KOREA SPECIAL BATTERY CO., LTD.
TABLE 251 KOREA SPECIAL BATTERY CO., LTD.: BUSINESS OVERVIEW
18.25 ECOBAT BATTERY TECHNOLOGIES
TABLE 252 ECOBAT BATTERY TECHNOLOGIES: BUSINESS OVERVIEW
*Details on Business Overview, Products Offered, Recent Developments, MnM View, Right to win, Strategic choices made, Weaknesses and competitive threats might not be captured in case of unlisted companies.
19 APPENDIX (Page No. - 266)
19.1 DISCUSSION GUIDE
19.2 KNOWLEDGE STORE: MARKETSANDMARKETS™ SUBSCRIPTION PORTAL
19.3 AVAILABLE CUSTOMIZATIONS
19.4 RELATED REPORTS
19.5 AUTHOR DETAILS
The study involved four major activities in estimating the current size of the Marine Battery Market. Exhaustive secondary research was done to collect information on the market, peer market, and parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. After that, market breakdown and data triangulation were used to estimate the market size of segments and subsegments.
Secondary Research
In the secondary research process, various secondary sources such as Clarkson’s Research, International Maritime Organization (IMO), United Nations Conference on Trade and Development (UNCTAD), Statista, World Bank, Global Firepower, Defense IQ, Factiva, Bloomberg, BusinessWeek, SEC filings, annual reports, press releases & investor presentations of companies, certified publications, and articles by recognized authors were referred to for identifying and collecting information on the Marine Battery Market.
Primary Research
In the primary research process, various primary sources from both supply and demand sides were interviewed to obtain qualitative and quantitative information on the market. The primary sources from the supply side included various industry experts, such as Chief X Officers (CXOs), Vice Presidents (VPs), Directors, from business development, marketing, product development/innovation teams, and related key executives from electric ship vendors; system integrators; component providers; distributors; and key opinion leaders.
Primary interviews were conducted to gather insights such as market statistics, data of revenue collected from the products and services, market breakdowns, market size estimations, market forecasting, and data triangulation. Primary research also helped in understanding the various trends related to technology, application, vertical, and region. Stakeholders from the demand side, such as CIOs, CTOs, and CSOs, and installation teams of the customer/end users who are using electric ship were interviewed to understand the buyer’s perspective on the suppliers, products, component providers, and their current usage of electric ship and future outlook of their business which will affect the overall market.
The breakup of Primary Research :
To know about the assumptions considered for the study, download the pdf brochure
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Marine Battery OEMs |
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Siemens AG |
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Akasol AG |
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Corvus Energy |
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Wartsila |
Market Size Estimation
Both top-down and bottom-up approaches were used to estimate and validate the total size of the Marine Battery Market. These methods were also used extensively to estimate the size of various segments and subsegments of the market. The research methodology used to estimate the market size included the following:
- Key players in the industry and market were identified through extensive secondary research of their product matrix and geographical presence and developments undertaken by them.
- All percentage shares, splits, and breakdowns were determined using secondary sources and verified through primary sources.
Marine Battery Market Size: Bottom-Up Approach
To know about the assumptions considered for the study, Request for Free Sample Report
Data Triangulation
After arriving at the overall size of the Marine Battery Market using the market size estimation processes explained above, the market was split into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment, data triangulation, and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from demand as well as supply sides of the Marine Battery Market.
Report Objectives
- To define, describe, segment, and forecast the size of the Marine Battery Market based on battery type, battery design, ship type, power, sales channel, end use region, etc.
- To forecast the market size of segments with respect to various regions, including North America, Europe, Asia Pacific, and Rest of the World, along with major countries in each region
- To identify and analyze key drivers, restraints, opportunities, and challenges influencing the growth of the Marine Battery Market
- To analyze technological advancements and product launches in the market
- To strategically analyze micromarkets1, with respect to their growth trends, prospects, and their contribution to the market
- To identify financial positions, key products, and key developments of leading companies in the market
- To provide a detailed competitive landscape of the market, along with market share analysis
- To provide a comprehensive analysis of business and corporate strategies adopted by the key players in the market
- To strategically profile key players in the market and comprehensively analyze their core competencies
Available Customizations
MarketsandMarkets offers the following customizations for this market report:
Additional country-level analysis of the Marine Battery Market
Profiling of additional market players (up to 5)
Product Analysis
- Product matrix, which provides a detailed comparison of the product portfolio of each company in the Marine Battery Market
Growth opportunities and latent adjacency in Marine Battery Market
Writing my bachelors degree within valuation. The company I am valuing is Corvus Energy, this report would to huge help.