Summary

The marine battery market is projected to grow from USD 882.3 million to USD 1,506.0 million, at a CAGR of 9.3% during the forecast period from 2024 to 2030. The marine battery market is experiencing growth due to factors such as technological advancements, and stringent environmental regulations. Siemens Energy (Germany), Leclanché SA (Switzerland), Corvus Energy (Canada), Toshiba Corporation (Japan) and EnerSys (US) are some of the leading players operating in the marine battery market.
“The Commercial segment to account for highest market share in the marine battery market during the forecast period.”
The marine battery market has been segmented into commercial, defense, Unmanned Underwater Vehicles and Unmanned Surface Vehicles based on ship type. The commercial segment is projected to grow at highest market share during the forecast period 2024 to 2030. The adoption of sustainable propulsion systems in cargo ships, tankers, and passenger vessels is rising fast. The growth here is due to strict environmental regulations such as IMO 2020, which sets up the requirement for lesser emissions and fuel consumption. Commercial ships frequently sails in the Emission Controlled Zones and seek hybrid or fully electric solutions to maintain compliance with these regulations. Additionally, increasing investments in electrifying ferries, cruise ships, and offshore support vessels to enhance operational efficiency and reduce operating costs further support the demand for marine batteries in this segment.
“The Dual-Purpose batteries segment to account for highest CAGR in the marine battery market during the forecast period.”
The marine battery has been segmented into Starting Batteries, Deep-cycle Batteries, and Dual-Purpose Batteries based on function . The dual-purpose segment is expected to hold the highest CAGR from 2024 to 2030 based on their versatility in providing both starting power and deep-cycle capabilities, making it suitable for a myriad of maritime applications. Due to strong demand for reliable engine starting and consistent power for onboard systems such as navigation, lighting, and auxiliary equipment, dual purpose batteries are best suited for such vessels. In addition, dual-purpose batteries reduce the requirement for separate battery systems, thereby optimizing space and cost for operators. With the increasing demand in hybrid propulsion systems and advanced marine technologies, the use of dual-purpose batteries is gaining popularity within the maritime industry due to their efficiency, durability, and flexibility to meet varied functional requirements.
“The European market is estimated to hold the highest market share.”
European market due to a series of severe environmental regulations, government incentives, and many more stringent sustainability initiatives in the maritime sector have driven the growth of marine battery market. Europe has been on the lead to enforce zero-emission transportation through initiatives like the European Green Deal and strict IMO 2020 laws enforcing a great deal of reduction in greenhouse gas emissions from ships. Countries such as Norway, the Netherlands, and Sweden, for instance, are embracing new technologies to make their fleet electrified, and more specifically in ferries and short-range vessels, as battery systems would be most efficient there. Strong infrastructure exists, including charging stations and a widespread network of ports with sustainable energy sources.
Breakdown of primaries
The study contains insights from various industry experts, ranging from component suppliers to Tier 1 companies and OEMs. The break-up of the primaries is as follows:
• By Company Type: Tier 1–35%; Tier 2–45%; and Tier 3–20%
• By Designation: C Level–35%; Directors–25%; and Others–40%
• By Region: North America–20%; Europe–40%; Asia Pacific–20%; Rest of the Worlds- 20%
Siemens Energy (Germany), Leclanché SA (Switzerland), Corvus Energy (Canada), Toshiba Corporation (Japan) and EnerSys (US) are some of the leading players operating in the marine battery market .
Research Coverage
The study covers the marine battery market across various segments and subsegments. It aims at estimating the size and growth potential of this market across different segments based on propulsion, capacity, operation and region. This study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to their solutions and business offerings, recent developments undertaken by them, and key market strategies adopted by them.
Key benefits of buying this report:
This report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall marine battery market and its subsegments. The report covers the entire ecosystem of the marine battery market . It will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies. The report will also help stakeholders understand the pulse of the market and provide them with information on key market drivers, restraints, challenges, and opportunities.

The report provides insights on the following pointers:
• Analysis of key drivers and factors, such as increasing consumer preference for high-quality marine battery services, rising global traffic need that could contribute to an increase in marine battery market.
• Market Development: Comprehensive information about lucrative markets – the report analyses the aircraft cabin interiors market across varied regions
• Market Diversification: Exhaustive information about new solutions, untapped geographies, recent developments, and investments in aircraft cabin interiors market
• Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players like Siemens Energy (Germany), Leclanché SA (Switzerland), Corvus Energy (Canada), Toshiba Corporation (Japan) and EnerSys (US) among others in the marine battery market.

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Table of Contents

1 INTRODUCTION 28
1.1 STUDY OBJECTIVES 28
1.2 MARKET DEFINITION 28
1.3 STUDY SCOPE 29
1.3.1 MARKET SEGMENTATION 29
1.3.2 INCLUSIONS AND EXCLUSIONS 30
1.4 YEARS CONSIDERED 30
1.5 CURRENCY & PRICING 31
1.6 STAKEHOLDERS 31
1.7 SUMMARY OF CHANGES 32
2 RESEARCH METHODOLOGY 33
2.1 RESEARCH DATA 33
2.1.1 SECONDARY DATA 35
2.1.1.1 Key data from secondary sources 35
2.1.2 PRIMARY DATA 36
2.1.2.1 Key data from primary sources 36
2.2 FACTOR ANALYSIS 37
2.2.1 INTRODUCTION 37
2.2.2 DEMAND-SIDE INDICATORS 38
2.2.3 SUPPLY-SIDE INDICATORS 38
2.3 MARKET SIZE ESTIMATION 38
2.3.1 BOTTOM-UP APPROACH 38
2.3.2 TOP-DOWN APPROACH 39
2.4 DATA TRIANGULATION 40
2.4.1 TRIANGULATION THROUGH PRIMARY AND SECONDARY RESEARCH 40
2.5 RESEARCH ASSUMPTIONS 41
2.6 RISK ASSESSMENT 41
2.7 RESEARCH LIMITATIONS 42
3 EXECUTIVE SUMMARY 43
4 PREMIUM INSIGHTS 47
4.1 ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN MARINE BATTERY MARKET 47
4.2 MARINE BATTERY MARKET, BY VESSEL TYPE 47
4.3 MARINE BATTERY MARKET, BY TYPE 48
4.4 MARINE BATTERY MARKET, BY FUNCTION 48
4.5 MARINE BATTERY MARKET, BY SALES 49
4.6 MARINE BATTERY MARKET, BY PROPULSION 49
4.7 MARINE BATTERY MARKET, BY CAPACITY 50
4.8 MARINE BATTERY MARKET, BY FORM 50
4.9 MARINE BATTERY MARKET, BY DESIGN 51
4.10 MARINE BATTERY MARKET, BY POWER 51
4.11 MARINE BATTERY MARKET, BY COUNTRY 52
5 MARKET OVERVIEW 53
5.1 INTRODUCTION 53
5.2 MARKET DYNAMICS 53
5.2.1 DRIVERS 54
5.2.1.1 Rising fuel costs and need for operational efficiency 54
5.2.1.2 Growth in demand for electric and hybrid marine vessels 54
5.2.1.3 Advances in battery technology 55
5.2.1.4 Stringent environmental regulations 56
5.2.1.5 Increasing trend toward decarbonization and renewable energy integration 57
5.2.2 RESTRAINTS 59
5.2.2.1 High initial capital requirements 59
5.2.2.2 Inadequate charging infrastructure 60
5.2.2.3 Limited recycling and disposal solutions 61
5.2.3 OPPORTUNITIES 61
5.2.3.1 Hybrid propulsion systems 61
5.2.3.2 Electrification of short-range vessels 62
5.2.3.3 Rapid innovations and technological advancements 62
5.2.4 CHALLENGES 63
5.2.4.1 Energy density limitations 63
5.2.4.2 Supply chain constraints and raw material shortage 63
5.3 TRENDS AND DISRUPTIONS IMPACTING CUSTOMER BUSINESS 64
5.4 VALUE CHAIN ANALYSIS 65
5.5 ECOSYSTEM ANALYSIS 66
5.5.1 PROMINENT COMPANIES 66
5.5.2 PRIVATE AND SMALL ENTERPRISES 66
5.5.3 END USERS 66
5.6 PRICING ANALYSIS 68
5.6.1 AVERAGE SELLING PRICE TREND OF KEY PLAYERS, BY BATTERY TYPE, 2024 68
5.6.2 AVERAGE SELLING PRICE TREND, BY REGION, 2024 68
5.6.2.1 Factors affecting pricing, by region 69
5.6.2.1.1 North America 69
5.6.2.1.2 Europe 69
5.6.2.1.3 Asia Pacific 69
5.6.3 AVERAGE GLOBAL BATTERY PRICING AND AVERAGE BATTERY PRICING FOR MARINE APPLICATIONS 69
5.7 INVESTMENT AND FUNDING SCENARIO 72
5.8 VOLUME DATA 73
5.9 OPERATIONAL DATA 73
5.10 REGULATORY LANDSCAPE 74
5.11 TRADE ANALYSIS 76
5.11.1 IMPORT SCENARIO 76
5.11.2 EXPORT SCENARIO 78
5.12 TECHNOLOGY ANALYSIS 79
5.12.1 KEY TECHNOLOGIES 79
5.12.1.1 Lithium-ion batteries 79
5.12.1.2 Solid-state batteries 79
5.12.2 ADJACENT TECHNOLOGIES 80
5.12.2.1 Power-to-X (P2X) technology 80
5.12.2.2 Battery thermal management systems 80
5.12.3 COMPLEMENTARY TECHNOLOGIES 80
5.12.3.1 Battery management system 80
5.12.3.2 Energy management system 81
5.13 KEY STAKEHOLDERS AND BUYING CRITERIA 81
5.13.1 KEY STAKEHOLDERS IN BUYING PROCESS 81
5.13.2 BUYING CRITERIA 82
5.14 USE CASE ANALYSIS 83
5.14.1 NISHISHIBA ELECTRIC DEVELOPED JAPAN’S FIRST HYBRID FREIGHT COASTER, UTASHIMA, UTILIZING LITHIUM-ION BATTERIES FOR PROPULSION 83
5.14.2 LECLANCHÉ PROVIDED HYBRID ENERGY STORAGE SYSTEM FEATURING LITHIUM-ION BATTERIES FOR PROPULSION 84
5.14.3 DAMEN SHIPYARDS GROUP INTEGRATED SCIB AS POWER SOURCE FOR ITS ELECTRIC FERRY, DAMEN FERRY 2306E3 84
5.15 KEY CONFERENCES AND EVENTS, 2025 85
5.16 MACROECONOMIC OUTLOOK 85
5.16.1 INTRODUCTION 85
5.16.2 NORTH AMERICA 86
5.16.3 EUROPE 86
5.16.4 ASIA PACIFIC 86
5.16.5 MIDDLE EAST & AFRICA 87
5.16.6 LATIN AMERICA 87
5.17 IMPACT OF AI ON MARINE INDUSTRY: USE CASES 87
5.17.1 IMPACT OF AI ON MARINE BATTERY MARKET 89
5.18 TOTAL COST OF OWNERSHIP (TCO) 90
5.18.1 INTRODUCTION 90
5.18.2 PURPOSE OF BATTERY USAGE 92
5.18.2.1 Electric vessels 92
5.18.2.2 Conventional vessels 92
 
5.18.3 COST DRIVERS 92
5.18.3.1 Electric vessels 92
5.18.3.2 Conventional vessels 92
5.18.4 TECHNOLOGY AND BATTERY TYPE 92
5.18.4.1 Electric vessels 92
5.18.4.2 Conventional vessels 93
5.18.5 MAINTENANCE AND AFTERMARKET COSTS 93
5.18.5.1 Electric vessels 93
5.18.5.2 Conventional vessels 93
5.19 BUSINESS MODELS 93
5.19.1 CAPITAL EXPENDITURE (CAPEX) MODEL 94
5.19.2 POWER-AS-A-SERVICE (PAAS) MODEL 94
5.19.3 BATTERY SWAPPING MODEL 94
5.20 BILL OF MATERIALS ANALYSIS 95
5.20.1 BILL OF MATERIALS ANALYSIS FOR MARINE BATTERY COMPONENTS 95
5.21 MATERIALS USED IN MARINE BATTERIES 96
5.21.1 LITHIUM-ION BATTERIES (ELECTRIC AND HYBRID VESSELS) 96
5.21.2 LEAD-ACID BATTERIES (CONVENTIONAL VESSELS) 97
5.21.3 STRUCTURAL AND SUPPORT MATERIALS 97
5.21.4 SAFETY AND PROTECTIVE MATERIALS 97
5.22 TECHNOLOGY ROADMAP 98
5.23 EVOLUTION OF BATTERY PACKING FORM 100
5.23.1 EXISTING BATTERY PACKING FORM 100
5.23.2 FUTURE OF BATTERY PACKING FORM 101
5.23.3 INSIGHTS ON BATTERY PACKING FORM 102
6 INDUSTRY TRENDS 103
6.1 INTRODUCTION 103
6.2 TECHNOLOGY TRENDS 103
6.2.1 NEXT-GENERATION SOLID-STATE BATTERY TECHNOLOGY 103
6.2.2 HYBRID AND INTEGRATED ENERGY SYSTEMS 104
6.2.3 ADVANCED BATTERY MANAGEMENT SYSTEMS 104
6.2.4 RECYCLABLE AND ECO-FRIENDLY BATTERIES 105
6.3 IMPACT OF MEGA TRENDS 105
6.3.1 ADVANCED MATERIALS AND MANUFACTURING 105
6.3.2 BIG DATA ANALYTICS 106
6.3.3 SUSTAINABILITY INITIATIVES 106
6.3.4 ARTIFICIAL INTELLIGENCE 107
6.4 SUPPLY CHAIN ANALYSIS 107
6.5 PATENT ANALYSIS 108
6.6 INSIGHTS ON MARINE BATTERY ECOSYSTEM 112
6.6.1 INTRODUCTION 112
6.6.2 END USER PREFERENCES ON BATTERY TECHNOLOGIES 113
6.6.2.1 Dual-purpose innovations to enhance market penetration 113
6.6.2.2 Transitioning from lithium to next-generation batteries 113
6.6.2.3 Collaboration as a catalyst for growth 113
6.6.2.4 Lifecycle integration to maximize ROI 114
6.6.2.5 Region-wise adoption strategies 114
6.6.3 POWER CONSUMPTION SPECIFICATIONS FOR DIFFERENT VESSEL TYPES 114
6.6.4 CAPACITY VS. BATTERY POWER ADOPTION TRENDS 115
6.6.4.1 Positive correlation in sustained energy delivery 116
6.6.4.2 Inverse correlation in high-power systems 116
6.6.4.3 Capacity supporting power efficiency 116
6.6.4.4 Trade-off correlation in hybrid systems 116
6.6.4.5 Application-dependent correlation 117
6.6.5 PROS AND CONS OF BATTERY DESIGNS 117
6.6.6 KEY BATTERY FUNCTION REQUIREMENTS FOR VESSEL TYPES 118
6.6.7 DEMAND FOR BATTERY TYPES BASED ON PROPULSION NEEDS 119
7 MARINE BATTERY MARKET, BY FUNCTION 120
7.1 INTRODUCTION 121
7.2 STARTING BATTERIES 122
7.2.1 STARTING BATTERIES DELIVER QUICK BURSTS OF HIGH POWER 122
7.3 DEEP-CYCLE BATTERIES 122
7.3.1 NEED FOR STEADY AMOUNT OF POWER OVER EXTENDED PERIOD TO BOOST GROWTH 122
7.4 DUAL-PURPOSE BATTERIES 122
7.4.1 MULTIPURPOSE ENERGY NEEDS IN SMALL VESSELS TO DRIVE DEMAND FOR DUAL-PURPOSE BATTERIES 122
8 MARINE BATTERY MARKET, BY POWER 123
8.1 INTRODUCTION 124
8.2 < 75 KW 125
8.2.1 ADOPTION OF < 75 KW BATTERIES IN SMALL AND MEDIUM-SIZED VESSELS TO DRIVE MARKET 125
8.3 75–150 KW 125
8.3.1 INCREASING ADOPTION OF HYBRID PROPULSION SYSTEMS TO DRIVE MARKET FOR 75–150 KW BATTERIES 125
8.4 151–745 KW 126
8.4.1 DEMAND FOR BATTERIES WITH HIGH POWER OUTPUT TO DRIVE MARKET 126
8.5 746–7,560 KW 126
8.5.1 HIGH ENERGY DENSITY, SCALABILITY, AND ABILITY OF 746–7,560 KW BATTERIES TO HANDLE HEAVY LOADS TO DRIVE DEMAND 126
8.6 > 7,560 KW 126
8.6.1 MARINE BATTERIES WITH POWER RATINGS ABOVE 7,560 KW USED FOR LONG-HAUL OPERATIONS 126
9 MARINE BATTERY MARKET, BY CAPACITY 127
9.1 INTRODUCTION 128
9.2 < 100 AH 129
9.2.1 MARINE BATTERIES WITH LESS THAN 100 AH USED FOR SMALL VESSELS WITH MODERN POWER REQUIREMENTS 129
9.3 100–250 AH 129
9.3.1 USE OF 100–250 AH MARINE BATTERIES IN RECREATIONAL AND COMMERCIAL VESSELS TO DRIVE MARKET 129
9.4 > 250 AH 129
9.4.1 NEED FOR LARGE VESSELS REQUIRING POWER FOR EXTENDED PERIOD TO DRIVE MARKET 129
10 MARINE BATTERY MARKET, BY DESIGN 130
10.1 INTRODUCTION 131
10.2 SOLID-STATE 132
10.2.1 INCREASING NEED FOR HIGH ENERGY DENSITY TO DRIVE MARKET 132
10.3 LIQUID/GEL-BASED 132
10.3.1 COST-EFFECTIVENESS, RELIABILITY, AND SUITABILITY OF LIQUID/GEL-BASED BATTERIES TO DRIVE THEIR DEMAND 132
11 MARINE BATTERY MARKET, BY FORM 133
11.1 INTRODUCTION 134
11.2 PRISMATIC 135
11.2.1 NEED FOR BATTERIES WITH COMPACT DESIGN AND DURABILITY TO DRIVE GROWTH 135
11.3 CYLINDRICAL 135
11.3.1 HIGH DEMAND FOR THERMALLY STABLE BATTERIES TO PROPEL DEMAND 135
11.4 POUCH 135
11.4.1 NEED FOR BATTERIES WITH LIGHT WEIGHT AND COMPACT DESIGN TO DRIVE MARKET 135
12 MARINE BATTERY MARKET, BY PROPULSION 136
12.1 INTRODUCTION 137
12.2 FULLY ELECTRIC 138
12.2.1 INCREASING FOCUS ON DECARBONIZATION TO DRIVE MARKET 138
12.3 HYBRID 139
12.3.1 REDUCES FUEL USAGE AND VESSEL’S CARBON FOOTPRINT 139
12.4 CONVENTIONAL 139
12.4.1 NEED TO SUPPLEMENT TRADITIONAL PROPULSION SYSTEMS TO DRIVE MARKET 139
 
13 MARINE BATTERY MARKET, BY SALES 140
13.1 INTRODUCTION 141
13.2 OEMS 142
13.2.1 INCREASING EMPHASIS ON SUSTAINABILITY TO DRIVE MARKET 142
13.3 AFTERMARKET 142
13.3.1 ADVANCEMENTS IN BATTERY TECHNOLOGIES TO DRIVE MARKET 142
14 MARINE BATTERY MARKET, BY TYPE 143
14.1 INTRODUCTION 144
14.2 LITHIUM 145
14.2.1 NEED FOR HIGH-PERFORMANCE BATTERIES TO DRIVE MARKET 145
14.3 SODIUM-ION 145
14.3.1 NEED FOR SUSTAINABLE, COST-EFFECTIVE, AND ABUNDANT SOLUTIONS FOR ENERGY STORAGE TO DRIVE MARKET 145
14.4 NICKEL CADMIUM 146
14.4.1 HARSH MARITIME ENVIRONMENTS TO DRIVE DEMAND FOR NICKEL-CADMIUM BATTERIES 146
14.5 LEAD-ACID 146
14.5.1 LOW MANUFACTURING AND REPLACEMENT COSTS TO DRIVE MARKET 146
14.6 FUEL CELL 146
14.6.1 NEED FOR VESSEL ELECTRIFICATION TO DRIVE GROWTH 146
15 MARINE BATTERY MARKET, BY VESSEL TYPE 147
15.1 INTRODUCTION 148
15.2 COMMERCIAL 149
15.2.1 PASSENGER VESSELS 150
15.2.1.1 Yachts 150
15.2.1.1.1 Increasing adoption of green technologies to drive market 150
15.2.1.2 Ferries 151
15.2.1.2.1 Increasing use of electric ferries to drive demand 151
15.2.1.3 Cruise ships 151
15.2.1.3.1 Demand for operational efficiency of vessels to drive market 151
15.2.2 CARGO VESSELS 151
15.2.2.1 Container vessels 152
15.2.2.1.1 Shift toward hybrid, zero-emission port operations to drive demand 152
15.2.2.2 Bulk carriers 153
15.2.2.2.1 Increasing adoption of hybrid-electric propulsion systems to drive market 153
15.2.2.3 Tankers 153
15.2.2.3.1 Increasing need for enhanced energy storage for emergency systems to drive market 153
 
15.2.2.4 Gas tankers 154
15.2.2.4.1 Conversion of traditional gas tankers to sustainable mode of propulsion 154
15.2.2.5 Dry cargo ships 154
15.2.2.5.1 Increasing cargo volume to boost growth 154
15.2.2.6 Barges 154
15.2.2.6.1 Increase in small inland waterways to drive market 154
15.2.3 OTHER VESSELS 155
15.2.3.1 Fishing vessels 155
15.2.3.1.1 Low fuel consumption of fully electric fishing vessels to drive demand 155
15.2.3.2 Tugs and workboats 156
15.2.3.2.1 Increasing support of ports for electrification of vessels to drive market 156
15.2.3.3 Research vessels 156
15.2.3.3.1 Technological advancements in battery technology to propel growth 156
15.2.3.4 Dredgers 156
15.2.3.4.1 Adoption of hybrid systems to boost demand 156
15.3 DEFENSE 157
15.3.1 DESTROYERS 157
15.3.1.1 Increasing use of electric propulsive destroyers to boost growth 157
15.3.2 FRIGATES 158
15.3.2.1 Plans by naval forces to install hybrid propulsion systems for frigates to boost market 158
15.3.3 CORVETTES 158
15.3.3.1 Enhanced operational flexibility requirements by corvettes to drive growth 158
15.3.4 AMPHIBIOUS SHIPS 158
15.3.4.1 Increasing use of amphibious ships with hybrid propulsion by naval forces to drive market 158
15.3.5 AIRCRAFT CARRIERS 159
15.3.5.1 Adoption of hybrid and electric propulsion systems to boost growth 159
15.3.6 PATROL VESSELS 159
15.3.6.1 Increasing need for surveillance and protection missions to drive growth 159
15.4 UNMANNED MARITIME VEHICLES 159
15.4.1 UNMANNED UNDERWATER VEHICLES 160
15.4.1.1 Growth in underwater defense operations to drive market 160
15.4.2 UNMANNED SURFACE VEHICLES 160
15.4.2.1 Need for increasing surveillance and reconnaissance to drive demand 160
 
16 MARINE BATTERY MARKET, BY REGION 161
16.1 INTRODUCTION 162
16.2 NORTH AMERICA 163
16.2.1 PESTLE ANALYSIS 164
16.2.2 US 167
16.2.2.1 Increasing adoption of electric boats to drive market 167
16.2.3 CANADA 169
16.2.3.1 Increasing emphasis on cleaner boating to drive market 169
16.3 EUROPE 170
16.3.1 PESTLE ANALYSIS 170
16.3.2 UK 174
16.3.2.1 Increasing investment in electric marine ecosystems for passenger vessels to drive market 174
16.3.3 SWEDEN 176
16.3.3.1 Government incentives and subsidy plans to drive market 176
16.3.4 NETHERLANDS 177
16.3.4.1 Increasing adoption of zero-emission ships to drive market 177
16.3.5 NORWAY 178
16.3.5.1 Replacement of traditional vessels with electric vessels to drive market 178
16.3.6 DENMARK 179
16.3.6.1 Favorable environmental regulations to drive market 179
16.3.7 REST OF EUROPE 181
16.4 ASIA PACIFIC 182
16.4.1 PESTLE ANALYSIS 182
16.4.2 CHINA 186
16.4.2.1 Strategic development of marine transportation and presence of shipbuilding companies to drive market 186
16.4.3 INDIA 188
16.4.3.1 Growth of maritime industry with focus on carbon emission reduction to drive market 188
16.4.4 JAPAN 189
16.4.4.1 Increasing electric shipbuilding industry to drive market 189
16.4.5 SOUTH KOREA 190
16.4.5.1 Advancements in battery technology to drive market 190
16.4.6 REST OF ASIA PACIFIC 191
16.5 MIDDLE EAST & AFRICA 193
16.5.1 PESTLE ANALYSIS 193
16.5.2 GCC COUNTRIES 197
16.5.2.1 UAE 197
16.5.2.1.1 Government initiatives to build electric and hybrid vessels to drive market 197
 
16.5.2.2 Saudi Arabia 198
16.5.2.2.1 Increase in cruise ships, ferries, and tourist yachts to drive market 198
16.5.3 TURKEY 200
16.5.3.1 Government incentives for sustainable shipping solutions to drive market 200
16.5.4 REST OF MIDDLE EAST 201
16.5.4.1 AFRICA 202
16.5.4.1.1 Increasing investments in research & development to drive market 202
16.6 LATIN AMERICA 203
16.6.1 PESTLE ANALYSIS 203
16.6.2 BRAZIL 207
16.6.2.1 Adoption of hybrid propulsion in large vessels to drive market 207
16.6.3 MEXICO 209
16.6.3.1 Growth in demand for marine travel to drive market 209
17 COMPETITIVE LANDSCAPE 211
17.1 INTRODUCTION 211
17.2 KEY PLAYER STRATEGIES/RIGHT TO WIN, 2020–2024 211
17.3 REVENUE ANALYSIS 213
17.4 MARKET SHARE ANALYSIS 214
17.5 COMPANY EVALUATION MATRIX: KEY PLAYERS, 2023 216
17.5.1 STARS 216
17.5.2 EMERGING LEADERS 216
17.5.3 PERVASIVE PLAYERS 216
17.5.4 PARTICIPANTS 216
17.5.5 COMPANY FOOTPRINT: KEY PLAYERS 218
17.5.5.1 Company footprint 218
17.5.5.2 Company propulsion footprint 219
17.5.5.3 Company vessel type footprint 220
17.5.5.4 Company form footprint 221
17.5.5.5 Company region footprint 222
17.6 COMPANY EVALUATION MATRIX: STARTUPS/SMES, 2023 223
17.6.1 PROGRESSIVE COMPANIES 223
17.6.2 RESPONSIVE COMPANIES 223
17.6.3 DYNAMIC COMPANIES 223
17.6.4 STARTING BLOCKS 223
17.6.5 COMPETITIVE BENCHMARKING 225
17.7 COMPANY VALUATION AND FINANCIAL METRICS 227
17.8 BRAND/PRODUCT COMPARISON 228
 
17.9 COMPETITIVE SCENARIO 229
17.9.1 PRODUCT LAUNCHES/DEVELOPMENTS 229
17.9.2 DEALS 231
17.9.3 OTHER DEVELOPMENTS 236
18 COMPANY PROFILES 240
18.1 KEY PLAYERS 240
18.1.1 SIEMENS ENERGY 240
18.1.1.1 Business overview 240
18.1.1.2 Products offered 241
18.1.1.3 Recent developments 242
18.1.1.3.1 Deals 242
18.1.1.3.2 Other developments 242
18.1.1.4 MnM view 243
18.1.1.4.1 Key strengths 243
18.1.1.4.2 Strategic choices 243
18.1.1.4.3 Weaknesses and competitive threats 243
18.1.2 LECLANCHÉ SA 244
18.1.2.1 Business overview 244
18.1.2.2 Products offered 245
18.1.2.3 Recent developments 246
18.1.2.3.1 Product launches 246
18.1.2.3.2 Deals 247
18.1.2.3.3 Other developments 247
18.1.2.4 MnM view 248
18.1.2.4.1 Key strengths 248
18.1.2.4.2 Strategic choices 248
18.1.2.4.3 Weaknesses and competitive threats 248
18.1.3 CORVUS ENERGY 249
18.1.3.1 Business overview 249
18.1.3.2 Products offered 249
18.1.3.3 Recent developments 250
18.1.3.3.1 Deals 250
18.1.3.3.2 Other developments 251
18.1.3.4 MnM view 253
18.1.3.4.1 Key strengths 253
18.1.3.4.2 Strategic choices 253
18.1.3.4.3 Weaknesses and competitive threats 253
18.1.4 TOSHIBA CORPORATION 254
18.1.4.1 Business overview 254
18.1.4.2 Products offered 255
18.1.4.3 Recent developments 255
18.1.4.3.1 Deals 255
18.1.4.4 MnM view 255
18.1.4.4.1 Key strengths 255
18.1.4.4.2 Strategic choices 256
18.1.4.4.3 Weaknesses and competitive threats 256
18.1.5 ENERSYS 257
18.1.5.1 Business overview 257
18.1.5.2 Products offered 258
18.1.5.3 Recent developments 259
18.1.5.3.1 Deals 259
18.1.5.3.2 Other developments 259
18.1.5.4 MnM view 260
18.1.5.4.1 Key strengths 260
18.1.5.4.2 Strategic choices 260
18.1.5.4.3 Weaknesses and competitive threats 260
18.1.6 SHIFT 261
18.1.6.1 Business overview 261
18.1.6.2 Products offered 261
18.1.6.3 Recent developments 262
18.1.6.3.1 Deals 262
18.1.7 SAFT 264
18.1.7.1 Business overview 264
18.1.7.2 Products offered 264
18.1.7.3 Recent developments 265
18.1.7.3.1 Product launches 265
18.1.8 SENSATA TECHNOLOGIES, INC. 266
18.1.8.1 Business overview 266
18.1.8.2 Products offered 266
18.1.8.3 Recent developments 267
18.1.8.3.1 Deals 267
18.1.9 POWERTECH SYSTEMS 268
18.1.9.1 Business overview 268
18.1.9.2 Products offered 268
18.1.10 THE FURUKAWA BATTERY CO., LTD. 269
18.1.10.1 Business overview 269
18.1.10.2 Products offered 270
18.1.10.3 Recent developments 270
18.1.10.3.1 Deals 270
18.1.11 EAST PENN MANUFACTURING COMPANY 271
18.1.11.1 Business overview 271
18.1.11.2 Products offered 271
18.1.11.3 Recent developments 272
18.1.11.3.1 Product launches 272
18.1.11.3.2 Deals 272
18.1.12 KOREA SPECIAL BATTERY CO., LTD. (KSB) 273
18.1.12.1 Business overview 273
18.1.12.2 Products offered 273
18.1.13 CLARIOS 275
18.1.13.1 Business overview 275
18.1.13.2 Products offered 275
18.1.13.3 Recent developments 276
18.1.13.3.1 Product launches 276
18.1.14 EXIDE TECHNOLOGIES 277
18.1.14.1 Business overview 277
18.1.14.2 Products offered 277
18.1.14.3 Recent developments 278
18.1.14.3.1 Product launches 278
18.1.15 SHENZHEN MANLY BATTERY CO., LTD. 279
18.1.15.1 Business overview 279
18.1.15.2 Products offered 279
18.2 OTHER PLAYERS 280
18.2.1 ECHANDIA AB 280
18.2.2 FORSEE POWER 280
18.2.3 EST-FLOATTECH 281
18.2.4 LITHIUMWERKS 281
18.2.5 LIFELINE 282
18.2.6 EVEREXCEED INDUSTRIAL CO., LTD. 282
18.2.7 US BATTERY 283
18.2.8 SOLAREDGE 283
18.2.9 FREUDENBERG E-POWER SYSTEMS 284
18.2.10 SONNENSCHEIN 284
19 APPENDIX 285
19.1 DISCUSSION GUIDE 285
19.2 ANNEXURE 287
19.3 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 289
19.4 CUSTOMIZATION OPTIONS 291
19.5 RELATED REPORTS 291
19.6 AUTHOR DETAILS 292