Marine Battery Market

Akasol AG (Germany) and Saft (France) are Leading Players in the Marine Battery Market

The size of the marine battery market is projected to grow from USD 250 million in 2020 to USD 812 million by 2025, at a CAGR of 48.1% from 2020 to 2025. The rise in the conversion of propulsion systems and the implementation of the sulfur 2020 rule are some of the major factors driving this market.

Major players in the marine battery market include Corvus Energy (Canada), Akasol AG (Germany), EST-Floattech (Netherlands), Siemens (Germany), Spear Power Systems (US), Echandia Marine (Sweden), Sterling PBES Energy Solutions (Canada), Furukawa Battery Solutions (Japan), Lithium Werks (Netherlands), Exide Technologies (US), Craftsman Marine (Netherlands), PowerTech Systems (France), Kokam Co. Ltd. (South Korea), Toshiba Corporation (Japan), XALT Energy (US), EverExceed Industrial Co. Ltd. (China), U.S. Battery (US), Lifeline Batteries (US), Saft (France), Forsee Power (France) and Leclanché (Switzerland). These players have adopted various strategies, such as new product launches, contracts, agreements, partnerships, and expansions, to increase their foothold in the marine battery market. Of these, new product launches, contracts, and agreements were majorly adopted by the market players between 2016 and 2020 to help them expand their battery offerings with innovative solutions and, consequently, enhance their customer base.

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Akasol AG is the leader in the marine battery market. The company is one of the leading manufacturers of lithium-ion battery systems for buses, commercial vehicles, rail vehicles, industrial vehicles, ships, boats, yachts, dredging vessels, fishing boats, motor yachts, and ferries. The company has a strong presence in Europe.

Siemens comes in second in the marine battery market. It is an electronics and electrical engineering company operating in the fields of electrification, automation, and digitalization. In the marine battery market, the company offers its Siemens Energy Storage. Siemens has a strong presence in North America, Europe, Asia, and Europe.

Saft comes in third in the marine battery market. The company supplies nickel-based and lithium-ion batteries to shipyards and OEMs globally. Battery systems for hybrid and electric ship propulsion are offered by the company in the transportation industry. Saft has 14 manufacturing facilities and 30 sales offices across 18 countries, including the US, India, France, China, the Czech Republic, and Sweden, among others.

Related Reports:

Marine Battery Market by Battery Type (Lithium, Fuel Cell, Lead-acid), Propulsion Type (Fully Electric, Hybrid, Conventional), Application, Sales Channel, Ship Range, Nominal Capacity, Battery Design, Battery Function, and Region - Global Forecast to 2025

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Report Code
AS 7669
RI Published ON
5/29/2020
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