According to a recent report published by Allied Market Research, titled, “Marine Battery Market by Battery Type, Ship Type, Function, Nominal Capacity, Sales Channel, and Battery Density: Global Opportunity Analysis and Industry Forecast, 2021–2030,” the global marine battery market was valued at $0.37 billion in 2021, and is projected to reach $1.99 billion in 2030, registering a CAGR of 20.5%.
Get Sample Report with Industry Insights @
https://www.alliedmarketresearch.com/request-sample/10394
Europe dominates the market, in terms of revenue, followed by North America, Asia-Pacific, and LAMEA. Europe is expected to maintain its dominance in the global market, as the region is one of the largest markets for marine/shipping. Moreover, surge in demand for electric and hybrid ships is driving the growth of this market.
U.S. dominated the global marine battery market share in 2020. The marine industry is the most important sector in the U.S. It is responsible for more than 6,00,000 jobs and generates an annual output of over $150 billion. This huge maritime industry creates demand for the marine battery market across the U.S. Moreover, increase in adoption of innovative technologies for marine vessels is fueling the growth of marine battery market.
The prominent factors that drive the growth of the marine battery market include rise in the global trade and increase in adoption of lithium ion battery. Moreover, increase in water sports and leisure activities propels the growth of the marine battery market. The countries such as China, India, and Brazil are growing economies. Thus, the shipbuilding and marine component manufacturing sector is witnessing prominent growth in these countries, which is expected to provide lucrative opportunities for the growth of the marine battery market in the region.
To Get Discount, Make Purchase Inquiry @
https://www.alliedmarketresearch.com/purchase-enquiry/10394
The sale of the marine battery is directly associated with manufacturing adoption of marine vessels across the globe. The COVID-19 crisis is causing uncertainty in the marine battery market by delaying supply chains, hampering business growth and generating uncertain demand scenarios.
By battery type, the marine battery market is segregated into lithium, lead acid, and others. The lead acid segment accounted for the highest revenue in 2020, as lead acid batteries is widely adopted across various marine vessels due to their cost-effectiveness.
COVID-19 Impact Analysis
The COVID-19 impact on the marine batteries market is unpredictable, and is expected to remain in force for a few years.
The COVID-19 outbreak forced governments across the globe to implement stringent lockdown and ban import–export of essential raw materials items for most of 2020 & few months in 2021. This led to sudden fall in the availability of important raw materials for marine batteries.
Boat and engine manufacturers suffered massive losses in the first and second quarters of 2020 as a result of disrupted supply chains and production schedules.
Moreover, nationwide lockdown forced parts manufacturing facilities to partially or completely shut their operations.
Request for Customization of this Report @
https://www.alliedmarketresearch.com/request-for-customization/10394
Key Findings Of The Study
By battery type, the lithium segment is expected to register a significant growth during the forecast period.
On the basis of ship type, the defense segment is anticipated to exhibit significant growth in future.
Depending on function, the dual-purpose segment is projected to lead the global marine battery market.
As per nominal capacity, more than 150 Ah is anticipated to register the highest CAGR during the forecast period.
By sales channel, the OEM segment is projected to lead the global marine battery market.
By battery density, more than 100 WH/KG segment is projected to lead the global marine battery market
Region wise, Asia-Pacific is anticipated to register the highest CAGR during the forecast period.
Buy now @
https://www.alliedmarketresearch.com/checkout-final/abb17f7504ff42957519cae0df7ac359
The key players operating in the global marine battery market include Akasol AG, EnerSys, Toshiba Corporation, Siemens, Leclanché SA , Saft , Echandia AB , EverExceed Industrial Co, Lifeline Batteries Inc., and Spear Power Systems
About Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
Contact:
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
USA/Canada (Toll Free):
+1-800-792-5285, +1-503-894-6022
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975
help@alliedmarketresearch.com