Press release
Marine Battery Market worth $1,506.0 Million by 2030, at a CAGR of 9.3%
Marine Battery Market
The report "Marine Battery Market [https://www.marketsandmarkets.com/Market-Reports/marine-battery-market-210222319.html?utm_source=abnewswire.com&utm_medium=PaidPR&utm_campaign=marinebatterymarket] by Type (Lithium, Sodium-ion, Nickel Cadmium, Lead-acid, Fuel-cell), Vessel Type (Commercial, Defense, Unmanned Maritime Vehicles) Function, Capacity, Propulsion, Power, Design, Form, Sales, Regions, Global Forecast to 2030" The Marine Battery Market is estimated to be USD 882.3 million in 2024 and is projected to reach USD 1,506.0 million by 2030 at a CAGR of 9.3% from 2024 to 2030. Marine battery manufacturers focus on developing efficient, durable, and safe energy solutions tailored to withstand harsh marine environments. High energy density, customization for various vessel types, and cost-effective battery designs are some of the factors that are providing growth for the marine battery market.
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Browse 254 market data Tables and 81 Figures spread through 292 Pages and in-depth TOC on "Marine Battery Market"
View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/marine-battery-market-210222319.html [https://www.marketsandmarkets.com/Market-Reports/marine-battery-market-210222319.html?utm_source=abnewswire.com&utm_medium=PaidPR&utm_campaign=marinebatterymarket]
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By capacity, marine battery market is projected to have highest market share during the forecast period.
The marine battery market,
Based on form, the prismatic segment will be dominating the market share acting as an ideal form for marine vessel applications.
The prismatic segment will be dominating the market share acting as an ideal form of battery for marine applications. These batteries offer various advantages like higher energy density and better thermal management making them ideal for various vessel types like recreational boats to commercial ships. Also, Prismatic form of batteries have robust casing which helps in enhancement of durability and resistance with reliable performance. These batteries are easier to stack and integrate into systems like propulsion and auxiliary systems driving their demand for adoption in hybrid and electric marine vessels.
Asia Pacific holds the second highest market share in the region considered for the marine battery market.
Asia Pacific marine battery market accounts for the second-highest share of the global market, primarily because of the emphasis to the sustainable maritime practices with focus in the region and the adoption of various advanced technologies. Factors like Large ports, inland waterways, and a strong recreational focus on growing the marine industry are factors driving the market. Also, the environmental regulations like the adoption of zero-emission operations in waterways further drive the usage of hybrid and electric propulsion systems in marine vessels. Asia Pacifc government also provides incentives for renewable energy projects focusing on reducing greenhouse gas emissions in maritime transport contributing to the market's growth in this region.
Key Players
Siemens Energy (Germany), Leclanche SA (Switzerland), Corvus Energy (Canada), Toshiba Corporation (Japan) and EnerSys (US) are the major key players in the marine battery market. These companies have strong distribution networks across regions like North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America.
Media Contact
Company Name: MarketsandMarkets Trademark Research Private Ltd.
Contact Person: Mr. Rohan Salgarkar
Email:Send Email [https://www.abnewswire.com/email_contact_us.php?pr=marine-battery-market-worth-15060-million-by-2030-at-a-cagr-of-93]
Phone: 18886006441
Address:1615 South Congress Ave. Suite 103, Delray Beach, FL 33445
City: Delray Beach
State: Florida
Country: United States
Website: https://www.marketsandmarkets.com/Market-Reports/marine-battery-market-210222319.html
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