The global submarine battery market size reached US$ 1.04 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 1.40 Billion by 2028, exhibiting a growth rate (CAGR) of 5.01% during 2023-2028. The burgeoning military and defense industry, rising need for unmanned underwater vehicles (UUVs), and the escalating demand for reliable and robust submarine batteries are some of the key factors driving the market.
A submarine battery is used to operate a submarine when it is submerged underwater and returns to the surface. It is positioned in the flooded bottom of the submarine and relies on the onboard battery charger while the submarine reaches the sea. It is developed without the usage of cobalt, nickel, and other heavy metals to avoid harmful environmental impacts. It is maintenance-free and designed to avoid rusting while providing safety during extreme situations, such as fire and accidents. A submarine battery helps the submarine in staying underwater for extended periods and drive while needing shorter charging times. It also offers high energy density, improved charge and discharge dynamics, and enhanced operational life. It assists in operating the nuclear submarine and resolving problems with the nuclear reactor and generator.
Submarine Battery Market Trends:
- At present, the increasing demand for navy submarines to launch ballistic missiles, perform rescue operations, and serve as the base of nuclear weapons is contributing to the growth of the market. Moreover, there is a rise in the demand for unmanned underwater vehicles (UUVs) for intelligence gathering, mine-hunting, scientific exploration, and ship-hull inspection to provide an accurate picture under the surface. This, along with the thriving military and defense industry, is offering lucrative growth opportunities to industry investors. Besides this, governments of several countries are investing in the military sector to construct nuclear-powered attack submarines, which is strengthening the growth of the market. In addition, the rising demand for lithium-ion batteries to reduce the weight of submarines and provide a high energy-to-weight ratio is propelling the growth of the market. Apart from this, there is an increase in the demand for energy efficient systems and hybrid marine propulsion systems across the globe. This, coupled with the growing demand for reliable and robust batteries that can deliver high currents, is positively influencing the market. Additionally, the increasing utilization of valve-regulated lead acid (VRLA) batteries to provide high surge currents at low temperatures around the world is offering a positive market outlook. The rising employment of VRLA batteries as uninterruptible power supply (UPS), emergency power supply systems, and telecommunications base stations is also supporting the growth of the market.
Key Market Segmentation:
- IMARC Group provides an analysis of the key trends in each segment of the global submarine battery market, along with forecasts at the global, regional, and country level from 2023-2028. Our report has categorized the market based on type and application.
- Valve-regulated Lead Acid Batteries
- Flooded Lead Acid Batteries
- The report has provided a detailed breakup and analysis of the submarine battery market based on the type. This includes valve-regulated lead acid batteries, flooded lead acid batteries and others. According to the report, valve-regulated lead acid batteries represented the largest segment.
- A detailed breakup and analysis of the submarine battery market based on the application has also been provided in the report. This includes civil and military. According to the report, military accounted for the largest market share.
- North America
- United States
- Asia Pacific
- South Korea
- United Kingdom
- Latin America
- Middle East and Africa
- The report has also provided a comprehensive analysis of all the major regional markets that include North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and the Middle East and Africa. According to the report, Asia Pacific was the largest market for submarine battery. Some of factors driving the Asia Pacific submarine battery market are rising investments in the production of submarines by governments of various countries, increasing technological advancements, and thriving military and defense industry in the region.
- The report has also provided a comprehensive analysis of the competitive landscape in the global submarine battery market. Detailed profiles of all major companies have also been provided. Some of the companies include Champion Storage Battery Company Limited, EnerSys, EverExceed Industrial Co. Ltd, Exide Industries Ltd, GS Yuasa Corporation, Kokam Limited Company (Solaredge Technologies, Inc.), Korea Special Battery Co. Ltd., Zibo Torch Energy Co. Ltd., etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.
Key Questions Answered in This Report:
- How has the global submarine battery market performed so far and how will it perform in the coming years?
- What are the drivers, restraints, and opportunities in the global submarine battery market?
- What are the key regional markets?
- Which countries represent the most attractive submarine battery markets?
- What is the breakup of the market based on the type?
- What is the breakup of the market based on the application?
- What is the competitive structure of the global submarine battery market?
- Who are the key players/companies in the global submarine battery market?