Marine Battery Market 2022 Driving Factors Forecast Research 2028

Marine battery market is anticipated to grow at a CAGR of 18.5% during the forecast period. The growing establishment of start-ups across the globe is the major factor driving the growth of the market. Start-up companies are increasingly inclined towards the development of marine battery in the market. For instance, in June 2022, Alsym Energy Inc, the US start-up company announced the development of energy storage solutions for electric vehicles (EVs), stationary storage, and marine applications. The battery will provide the performance of lithium-ion batteries at a low cost with reduced risk of fire, which is extremely high in lithium-ion batteries. The company uses low-cost materials in manufacturing batteries, which makes it less sensitive to raw material shortages. Furthermore, to accelerate the development of affordable battery systems, the company partnership with an India-based automaker in a joint effort to develop Alsym's batteries, in order to expand the business and its footprints across the globe.

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The global marine battery market is segmented based on battery type, ship type, battery design, and nominal capacity. Based on the battery type, the market is sub-segmented into lithium, nickel cadmium, fuel cell, and lead-acid. Based on the ship type, the market is divided into commercial and defense. Based on the battery design, the market is further sub-segmented into solid-state batteries, and flow batteries. Based on the nominal capacity, the market is sub-segmented into 250 Ah. Among these, the solid-state batteries sub-segment is expected to hold a considerable share in the market due to its higher energy density feature than other battery that uses liquid electrolyte solution.

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• Market Coverage
• Market number available for - 2022-2028
• Base year- 2021
• Forecast period- 2022-2028
• Segment Covered- By Source, By Product Type, By Applications
• Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
• Inc., and others

Market Segmentation
Global Marine Battery Market by Battery Type
o Lithium
o Nickel Cadmium
o Fuel Cell
o Lead-acid

Global Marine Battery Market by Ship Type
o Commercial
o Defense

Global Marine Battery Market by Battery Design
o Solid-State Batteries
o Flow Batteries

Global Marine Battery Market by Nominal Capacity
o 250 Ah

Regional Analysis
o North America
o United States
o Canada
o Europe
o UK
o Germany
o Italy
o Spain
o France
o Rest of Europe
o Asia-Pacific
o China
o India
o Japan
o South Korea
o Rest of Asia-Pacific
o Rest of the World

Company Profiles
o Akasol AG
o Corvus Energy
o Echandia Marine AB
o EnerSys
o EverExceed Industrial Co.
o Leclanché SA
o Lifeline Batteries Inc.
o Saft Groupe SAS
o Siemens AG
o Spear Power Systems.
o Toshiba Corp.
o Wärtsilä
o SUNLIGHT GROUP

The Report Covers
• Market value data analysis of 2021 and forecast to 2028.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global marine battery market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market-entry and market expansion strategies.
• Competitive strategies by identifying 'who-stands-where' in the market.

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