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Submarine Battery Market Top Companies to Watch Out: EnerSys, EverExceed Corporation, Exide Industries, Exide Technologies, GS Yuasa Corporation, HBL Power Systems Limited, Korea Special Battery Co.

03-06-2019 03:33 PM CET | IT, New Media & Software

Press release from: Coherent Market Insights

Submarine Battery

Submarine Battery

A submarine is a watercraft, which is used for various commercial and military applications. In submarines, a battery plays a major role in smooth running of the submarine. For power supply, the submarines are equipped with diesel engine that burns fuel or nuclear reactors that use nuclear fusion, which helps to charge the batteries of submarines. Global submarine battery market generated revenue of US$ 866.8 million in 2017 and is expected to reach US$ 1,307 million by 2025 with a CAGR of 5.5% in the forecast period. Rising demand for unmanned underwater vehicles is one of the major driving factors for the market growth. Rising application of submarines such as commercial use, research, air crash investigation, naval use (intelligence, surveillance, and reconnaissance, mine countermeasures, anti-submarine warfare, inspection/identification etc.) have accelerated growth of the submarine battery market, globally.

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Lead acid battery segment held the dominant position in the global submarine battery market in 2017

On the basis of battery type segment, lead acid battery segment held the dominant position in the market in 2017 and is expected to retain its dominance throughout the forecast period. This is due to various advantages of lead batteries such as reliable, robust, and with capability to deliver high current. Lead acid battery provides standby and propulsion power in various submarines. Continues technical improvement in lead acid battery technology have accelerated growth of the segment in the market.
North America held the dominant position in the global submarine battery market in 2017

North America held the dominant position in the submarine battery market in 2017 and is expected to retain its dominance throughout the forecast period. The U.S. and Canada are the major countries, which drive growth of the submarine battery market in this region. Increasing spending on submarines and increasing defense budget under National Defense Authorization Act have accelerated growth of the market in this region. For instance, in 2017, the U.S. navy announced that they awarded a contract of US$ 5.1 billion to General Dynamics Electric Boat for Integrated Product and Process Development (IPPD) of the Columbia-Class submarine.

Moreover, Asia pacific region is expected to exhibit the highest CAGR in the forecast period. China, India, and Japan are some of the major countries, which drive growth of the submarine battery market in this region. Increasing government investment on submarines production is one of the major diving factors aiding in growth of the market in this region. For instance, in 2017, the Indian government announced start of a project to build six nuclear powered attack submarines. Hence, such projects for the development of submarines have accelerated growth of the submarine batteries market in this region.

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Key Players- Global Submarine Battery Market.

Major players operating in the global submarine battery market include EnerSys, EverExceed Corporation, Exide Industries, Exide Technologies, GS Yuasa Corporation, HBL Power Systems Limited, Korea Special Battery Co., Ltd., Sunlight Systems S.A, and Zibo Torch Energy Co., Ltd.

Detailed Segmentation:

• Global Submarine Battery Market, By Battery Type:

o Lithium-ion Battery
o Lead Acid Battery
o Others

• Global Submarine Battery Market, By Application:

o Military
o Civilian

About Coherent Market Insights:
Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

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Coherent Market Insights
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Seattle, WA 98154
Tel: +1-206-701-6702
Email: sales@coherentmarketinsights.com

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