Marine Battery Market

Wartsila (Finland), Corvus Energy (Canada) and Siemens (Germany) are leading players in Marine Battery Market

The global 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. Two forecast periods, i.e., 2017 to 2025 and 2025 to 2030, are considered in this market report, as the adoption of electric propulsion systems is estimated to grow at a higher rate post-2025. The growth of the market can be attributed to the increase in seaborne trade across the globe, the development of lithium-ion batteries, and hybrid and electric propulsion technology catering to the retrofit market, among others.

Wartsila (Finland), Akasol AG (Germany), Corvus Energy (Canada), Enchandia AB (Sweden), Saft Total (France), Siemens (Germany), and Leclanché SA (Switzerland), among others are some of the leading players operating in the Marine Battery market. These players have adopted growth strategies such as new product developments, contracts, partnerships, joint ventures agreements, collaborations, and acquisitions to expand their presence in the market further.

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Wartsila (Finland) secures the third position in the Marine Battery market. Wartsila is one of the leading providers of advanced marine solutions across the globe. The company operates through various subsidiaries in over 70 countries and 200 locations across the world. Through its high-quality and fuel-efficient electrical propulsion, energy storage systems, and DC grid systems, Wartsila has become a significant player in energy solutions, services, and marine solutions.

Corvus Energy (Canada) is another major organization when it comes to vessels and its electrical battery and solution. The company is a very well known energy storage system solution provider in the Europe and North American region. It majorly provides electrical solutions and services specifically for commercial vessels. They have a very strong R&D due to which they are able to deliver new products along with innovations. The company has also been working with ABB, Corvus Energy announced that it has been selected by ABB Marine & Ports to supply the energy storage system for the all-electric tug eWolf by Crowley Maritime Corporation. The vessel will be installed with 6.2 MWh of Corvus Orca Energy battery, which will become an essential part of the complete integrated electrical propulsion system delivered by ABB.

Siemens (Germany) is the leading player in the Marine Battery market. The company has a global presence and is currently focusing on increasing and gaining clients worldwide, and because of this they have made an partnership with Powercell Sweden AG (Sweden) by which they are working together in producing fuel cell with advanced and cutting edge technology. With this partnership they are targeting towards producing most efficient fuel cells for Marine Batterysuch as ferries, yachts, and cruise ships, which is the currently in demand worldwide.

Related Reports:

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 - Global Forecast to 2030

Mr. Aashish Mehra
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Marine Battery Market Size,  Share & Growth Report
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