Global Marine Battery Market Overview:
Marine batteries are used on ships or yacht. These batteries contain heavy plates and strong construction design which is able to handle vibration and hammering which happened regularly on any power board. Thatís why these batteries are more expensive than regular automotive batteries. Marine batteries used in three type of application namely one which used to start the engine, another one is used for long period of time and last one is used for both first and second application. There are four basic types of marine batteries which use for all these applications namely wet cell (flooded), gel cell, absorbed glass mat (AGM), lithium, etc. Owing to rise in demand for marine transportation and demand for advance marine batteries which are comes with high energy and low maintenance cost, the marine battery market is expected to grow at a significant rate during forecast period.
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Rise in International Tourism
Market Growth Drivers:
Increasing Demand for Lithium Marine Batteries, Increasing Demand for Ocean Tourism, Rise in International Tourism and Increasing Advanced Batteries Due To Stringent Restriction Related To Sulpur Contect
Difficult To Maintain, Increasing Incidence of Battery Explode and Insufficient Infrastructure for Charging
Lack of Raw Material
Technical Advancement in Marine Batteries Such As Sturdier and More Elevated Plates for Electricity
Marine Battery Market is a fragmented market due to the presence of various players. The players are focusing on increasing their manufacturing capacity and are offering competitive prices to gain high market share and establish their position in the market. Further, companies are focusing on developing innovative products and solutions to improve quality, enhances and promotes performance. The companies are coming up with partnerships or agreements along with planning strategic activities such as partnerships, product launch, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge.
Some of the key players profiled in the report are EnerSys (United States), East Penn Manufacturing Co (United States), EverExceed Industrial Co ltd (United Kingdom), Saft Group SA (France), Siemens Ag (Germany), Manbat Ltd (England), Zibo Torch Energy (China), Furukawa Battery Solutions (Japan), HBL Power Systems (India) and Systems Sunlight S.A (Greece). Additionally, following companies can also be profiled that are part of our coverage like EST Floattech (Netherland), Lifeline Batteries (United States) and Echandia AB (Sweden). Considering Market by Sale, the sub-segment i.e. OEM will boost the Marine Battery market. Considering Market by Ship Type, the sub-segment i.e. Commercial will boost the Marine Battery market.
Latest Market Insights:
In August 2019, East Penn acquired major share of Navitas System. This acquisition helps East Penn to expansion of its motive power battery offerings as well as its strategic integration into other market segment. Navitas System is global leader in larger-formate lithium battery technology and systems for heavy-duty commercial/industrial as well as government/defence market segments.
In Octobers 2022, EnerSys partnered with Industrial Battery Charger, Inc. this partnership will help EnerSys to expand charger production and distribution channel. This will improve EnerSys presence in marine battery market.
What Can be Explored with the Marine Battery Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Marine Battery Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Marine Battery
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Marine Battery market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Marine Battery market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Marine battery Manufacturers, Suppliers and Distributors, Venture Capitalists and Private Equity Firms, New Entrants/Investors, Strategic Business Planners, Government Regulatory, Research Organizations and End-Use Industries.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.