PUBLISHER: Market Xcel - Markets and Data | PRODUCT CODE: 1714196
PUBLISHER: Market Xcel - Markets and Data | PRODUCT CODE: 1714196
Marine Battery Market Assessment, By Type, By Function, By Capacity, By Application, By Region, Opportunities and Forecast, 2018-2032F
Marine battery market is projected to witness a CAGR of 12.64% during the forecast period 2025-2032, growing from USD 1.46 billion in 2024 to USD 3.77 billion in 2032F owing to the increased electrification of these marine vessels. As these vessels become more high-tech, power sourcing has also diversified. The industry focuses on safety, energy density, and the overall lifespan of the battery. This growing trend toward environmental sustainability has adversely affected the ship propulsion sector since shipowners have to comply with increasingly stringent requirements for control of sulfur emissions set by organizations such as the International Maritime Organization. While lithium-ion and solid-state batteries lead the way, the new innovations in Absorbed Glass Mat (AGM) and Gel technologies within lead-acid batteries are also improving charging speed and durability.
For instance, in July 2023, GS Yuasa Battery Sales UK Ltd. launched marine dual AGM battery range. The range includes the M24-AGM and M28-AGM, specifically designed to provide stable starting power while ensuring smooth operation of critical onboard equipment, including engine start, navigation, radio, GPS, and lighting. These advanced batteries address both starting and auxiliary power needs, providing the maximum number of cycles, quicker charging times, and reduced self-discharge for prolonged shelf life.
Fleet Electrification Due to Decarbonization Drives the Marine Battery Market
The rising fuel prices have led governments, private vessel operators, and logistics companies to switch to hybrid propulsion or electric ships. This trend is also followed by the global decarbonization process that comprises adoption of alternative energy such as electrical or hydrogen fuel cells. With more stringent environmental regulations, such as the IMO's sulfur emission limits, shipowners are being forced to adopt cleaner propulsion systems.
The transition for cleaner propulsion systems has triggered a demand for marine batteries in hybrid and fully electric vessels. Furthermore, the technological advancements comprising constant development in lithium-ion and solid-state batteries along with faster charging and higher energy density also shape the market dynamics. Hence, the companies working for green energy and decarbonization are expanding their presence in marine, aircraft, or vehicle battery market.
For instance, in October 2024, Fortescue Metal Group unveiled a marine battery manufacturing plant in United States. The company commenced operations at its 38,000-square-meter Advanced Manufacturing Centre located in Michigan, United States, by manufacturing marine battery packs that utilize its scalable battery module (SBM) technology.
Expansion of Electric Vessels due to Supportive Regulatory Framework to Shape the Global Market
The rising adoption of hybrid and electric vessels propels market growth along with higher investments in the commercial and defense sectors. The trend upscales through these sectors focusing on lower reliance on fossil fuel. The companies producing marine batteries are focusing on the environmental conditions, usage patterns, technological advancements, and the major operational factors.
These trends across sectors are supported by governments around the globe. The overall development and adoption of marine batteries is being greatly encouraged by the energizing policies and incentives of governments. These all include subsidies, grants, and friendly regulations that encourage investment in battery technologies by shipbuilders and operators. The government funds usually are for the overall digitization of ports which includes switching to green fuels as well.
For instance, in February 2024, the Indian government announced a 30% subsidy for hydrogen, and green fuels along with port digitization. This initiative represents a comprehensive strategy for advancing Indian shipping, as revealed by the Indian Ministry of Ports, Shipping & Waterways (MoPSW). In addition, the government has unveiled a plan to modernize the tug fleet, with the goal of beginning the integration of hybrid tugs by 2025. Officials have indicated that by 2030, it is anticipated that at least 50% of all tugs will be transitioned to environmentally friendly operations.
Lithium Segment Leads with Higher Density and Advanced Design
Based on battery type, lithium batteries lead in the marine battery market due to higher energy density and lightweight design. These batteries usually deliver higher energy density, enabling more energy storage than other batteries. Additionally, the lightweight design only adds up to efficiency and performance, reducing overall vessel weight. Lithium-ion batteries are reliable when it comes to the extreme marine requirements as they help the ship in limiting the downtime. These batteries have the capability to achieve this goal through faster charging and minimum energy loss. They can also be integrated with renewable energy sources such as solar panels or wind turbines, which further enhances their sustainability.
For instance, in January 2025, L3Harris Technologies, Inc. provided the initial batch of autonomous undersea vehicles that utilize lithium-ion batteries designed to resist passive propagation, which have been approved for use on submarines in the United States. These rechargeable lithium-ion (Li-ion) batteries allow the Iver4 900 autonomous undersea vehicle (AUV), which can be launched and retrieved via torpedo tubes, to conduct several missions while occupying a minimal amount of space in the torpedo room.
North America leads the Market with a Strong Presence in Marine Industry
North America holds a leading position in the marine battery market, driven by stringent environmental regulations and a strong focus on sustainable maritime practices. The region's commitment to reducing emissions has led to increased adoption of electric and hybrid vessels, particularly in the United States and Canada. Significant investments in research and development, coupled with government incentives, are fostering innovation in battery technologies. North America's advanced marine infrastructure and proactive policies are positioning it as a key player in the global shift towards electrified maritime transportation.
For instance, in February 2025, United State's Solid State Marine announced its series of state-of-the-art batteries that are manufactured in the United States. These come in all standard battery sizes to customers across the region. The patented technology uses a completely solid electrolyte, reducing fire risk and weight while increasing run time and allowing operation in cold temperatures. These batteries are designed to be interchangeable with existing systems, and the company offers a range of products for various marine applications.
Future Market Scenario (2025 - 2032F)
Urban areas are likely to implement electric ferries to reduce pollution and improve public transportation.
Marine batteries are expected to be combined with solar and wind energy systems for sustainable power generation on ships.
Technological advancements comprising faster charging and integration with battery management system are anticipated to lead batteries capable of powering large cargo ships over long distances.
Developing countries invest in marine battery technology to modernize their fleets and comply with
environmental standards.
Key Players Landscape and Outlook
The marine battery market's competitive strategy revolves around innovation, regulatory compliance, and cost-efficiency. Manufacturers focus on developing advanced battery technologies, such as lithium-ion and solid-state batteries, to meet the increasing demand for efficient, lightweight, and high-energy-density solutions. Compliance with stringent environmental regulations drives the adoption of hybrid and fully electric propulsion systems, particularly in emission-controlled zones. Companies invest heavily in R&D to enhance battery performance, lifespan, and safety while integrating smart technologies like Battery Management Systems (BMS) for improved operational efficiency. Market players also target specific segments like commercial vessels and short-range ferries to capitalize on electrification trends.
For instance, in June 2022, Leclanche SA announced its third-generation marine battery system that is going to electrify a broad range of vessels. The Navius MRS-3TM is an advanced version of Leclanche's acclaimed and award-winning MRS-2, which is currently utilized in various ferries, container ships, and specialized vessels. This liquid-cooled system enhances longevity, facilitates a more compact structure, and enables energy density that is up to 50% greater than that of air-cooled systems.
Table of Contents
1. Project Scope and Definitions
2. Research Methodology
3. Impact of U.S. Tariffs
4. Executive Summary
5. Voice of Customers
- 5.1. Product and Market Intelligence
- 5.2. Brand Awareness
- 5.3. Factors Considered in Purchase Decisions
- 5.3.1. Application and Power Requirements
- 5.3.2. Battery Type and Technology
- 5.3.3. Maintenance Requirements
- 5.4. Consideration of Regulations
6. Global Marine Battery Market Outlook, 2018-2032F
- 6.1. Market Size Analysis & Forecast
- 6.1.1. By Value
- 6.2. Market Share Analysis & Forecast
- 6.2.1. By Type
- 6.2.1.1. Lithium
- 6.2.1.2. Sodium-Ion
- 6.2.1.3. Nickel Cadmium
- 6.2.1.4. Lead-Acid
- 6.2.1.5. Fuel Cell
- 6.2.2. By Function
- 6.2.2.1. Starting
- 6.2.2.2. Deep Cycle
- 6.2.2.3. Dual Purpose
- 6.2.3. By Capacity
- 6.2.3.1. <100Ah
- 6.2.3.2. 100-250Ah
- 6.2.3.3. >250Ah
- 6.2.4. By Application
- 6.2.4.1. Commercial Vessels
- 6.2.4.2. Military Vessels
- 6.2.4.3. Unmanned Maritime Vessels
- 6.2.5. By Region
- 6.2.5.1. North America
- 6.2.5.2. Europe
- 6.2.5.3. Asia-Pacific
- 6.2.5.4. Rest of the World
- 6.2.6. By Company Market Share Analysis (Top 5 Companies and Others - By Value, 2024)
- 6.2.1. By Type
- 6.3. Market Map Analysis, 2024
- 6.3.1. By Type
- 6.3.2. By Function
- 6.3.3. By Capacity
- 6.3.4. By Application
- 6.3.5. By Region
7. North America Marine Battery Market Outlook, 2018-2032F
- 7.1. Market Size Analysis & Forecast
- 7.1.1. By Type
- 7.1.1.1. Lithium
- 7.1.1.2. Sodium-Ion
- 7.1.1.3. Nickel Cadmium
- 7.1.1.4. Lead-Acid
- 7.1.1.5. Fuel Cell
- 7.1.2. By Function
- 7.1.2.1. Starting
- 7.1.2.2. Deep Cycle
- 7.1.2.3. Dual Purpose
- 7.1.3. By Capacity
- 7.1.3.1. <100Ah
- 7.1.3.2. 100-250Ah
- 7.1.3.3. >250Ah
- 7.1.4. By Application
- 7.1.4.1. Commercial Vessels
- 7.1.4.2. Military Vessels
- 7.1.4.3. Unmanned Maritime Vessels
- 7.1.5. By Country Share
- 7.1.5.1. United States
- 7.1.5.2. Canada
- 7.1.1. By Type
- 7.2. Country Market Assessment
- 7.2.1. United States Marine Battery Market Outlook, 2018-2032F*
- 7.2.1.1. Market Size Analysis & Forecast
- 7.2.1.1.1. By Value
- 7.2.1.2. Market Share Analysis & Forecast
- 7.2.1.2.1. By Type
- 7.2.1.2.1.1. Lithium
- 7.2.1.2.1.2. Sodium-Ion
- 7.2.1.2.1.3. Nickel Cadmium
- 7.2.1.2.1.4. Lead-Acid
- 7.2.1.2.1.5. Fuel Cell
- 7.2.1.2.2. By Function
- 7.2.1.2.2.1. Starting
- 7.2.1.2.2.2. Deep Cycle
- 7.2.1.2.2.3. Dual Purpose
- 7.2.1.2.3. By Capacity
- 7.2.1.2.3.1. <100Ah
- 7.2.1.2.3.2. 100-250Ah
- 7.2.1.2.3.3. >250Ah
- 7.2.1.2.4. By Application
- 7.2.1.2.4.1. Commercial Vessels
- 7.2.1.2.4.2. Military Vessels
- 7.2.1.2.4.3. Unmanned Maritime Vessels
- 7.2.1.2.1. By Type
- 7.2.1.1. Market Size Analysis & Forecast
- 7.2.2. Canada
- 7.2.1. United States Marine Battery Market Outlook, 2018-2032F*
All segments will be provided for all regions and countries covered
8. Europe Marine Battery Market Outlook, 2018-2032F
- 8.1. Germany
- 8.2. France
- 8.3. Italy
- 8.4. United Kingdom
- 8.5. Russia
- 8.6. Rest of Europe
9. Asia-Pacific Marine Battery Market Outlook, 2018-2032F
- 9.1. India
- 9.2. China
- 9.3. Japan
- 9.4. Australia
- 9.5. Rest of Asia-Pacific
10. Rest of the World Marine Battery Market Outlook, 2018-2032F
- 10.1. South America
- 10.2. Middle East and Africa
11. Demand Supply Analysis
12. Value Chain Analysis
13. Porter's Five Forces Analysis
14. PESTLE Analysis
15. Market Dynamics
- 15.1. Market Drivers
- 15.2. Market Challenges
16. Market Trends and Developments
17. Policy and Regulatory Landscape
18. Case Studies
19. Competitive Landscape
- 19.1. Competition Matrix of Top 5 Market Leaders
- 19.2. SWOT Analysis for Top 5 Players
- 19.3. Key Players Landscape for Top 10 Market Players
- 19.3.1. EnerSys
- 19.3.1.1. Company Details
- 19.3.1.2. Key Management Personnel
- 19.3.1.3. Products and Services
- 19.3.1.4. Financials (As Reported)
- 19.3.1.5. Key Market Focus and Geographical Presence
- 19.3.1.6. Recent Developments/Collaborations/Partnerships/Mergers and Acquisition
- 19.3.2. Toshiba Corporation
- 19.3.3. Siemens Energy AG
- 19.3.4. Leclanche SA
- 19.3.5. Saft Groupe SAS
- 19.3.6. Echandia Marine AB
- 19.3.7. EverExceed Corporation
- 19.3.8. Lifeline Batteries Inc.
- 19.3.9. Sensata Technologies, Inc.
- 19.3.10. OPTIMA Batteries (CLARIOS, LLC)
- 19.3.1. EnerSys
Companies mentioned above DO NOT hold any order as per market share and can be changed as per information available during research work.
20. Strategic Recommendations
21. About Us and Disclaimer
List of Tables
- Table 1. Competition Matrix of Top 5 Market Leaders
- Table 2. Mergers & Acquisitions/ Joint Ventures (If Applicable)
- Table 3. About Us - Regions and Countries Where We Have Executed Client Projects
List of Figures
- Figure 1. Global Marine Battery Market, By Value, In USD Billion, 2018-2032F
- Figure 2. Global Marine Battery Market Share (%), By Type, 2018-2032F
- Figure 3. Global Marine Battery Market Share (%), By Function, 2018-2032F
- Figure 4. Global Marine Battery Market Share (%), By Capacity, 2018-2032F
- Figure 5. Global Marine Battery Market Share (%), By Application, 2018-2032F
- Figure 6. Global Marine Battery Market Share (%), By Region, 2018-2032F
- Figure 7. North America Marine Battery Market, By Value, In USD Billion, 2018-2032F
- Figure 8. North America Marine Battery Market Share (%), By Type, 2018-2032F
- Figure 9. North America Marine Battery Market Share (%), By Function, 2018-2032F
- Figure 10. North America Marine Battery Market Share (%), By Capacity, 2018-2032F
- Figure 11. North America Marine Battery Market Share (%), By Application, 2018-2032F
- Figure 12. North America Marine Battery Market Share (%), By Country, 2018-2032F
- Figure 13. United States Marine Battery Market, By Value, In USD Billion, 2018-2032F
- Figure 14. United States Marine Battery Market Share (%), By Type, 2018-2032F
- Figure 15. United States Marine Battery Market Share (%), By Function, 2018-2032F
- Figure 16. United States Marine Battery Market Share (%), By Capacity, 2018-2032F
- Figure 17. United States Marine Battery Market Share (%), By Application, 2018-2032F
- Figure 18. Canada Marine Battery Market, By Value, In USD Billion, 2018-2032F
- Figure 19. Canada Marine Battery Market Share (%), By Type, 2018-2032F
- Figure 20. Canada Marine Battery Market Share (%), By Function, 2018-2032F
- Figure 21. Canada Marine Battery Market Share (%), By Capacity, 2018-2032F
- Figure 22. Canada Marine Battery Market Share (%), By Application, 2018-2032F
- Figure 23. Europe Marine Battery Market, By Value, In USD Billion, 2018-2032F
- Figure 24. Europe Marine Battery Market Share (%), By Type, 2018-2032F
- Figure 25. Europe Marine Battery Market Share (%), By Function, 2018-2032F
- Figure 26. Europe Marine Battery Market Share (%), By Capacity, 2018-2032F
- Figure 27. Europe Marine Battery Market Share (%), By Application, 2018-2032F
- Figure 28. Europe Marine Battery Market Share (%), By Country, 2018-2032F
- Figure 29. Germany Marine Battery Market, By Value, In USD Billion, 2018-2032F
- Figure 30. Germany Marine Battery Market Share (%), By Type, 2018-2032F
- Figure 31. Germany Marine Battery Market Share (%), By Function, 2018-2032F
- Figure 32. Germany Marine Battery Market Share (%), By Capacity, 2018-2032F
- Figure 33. Germany Marine Battery Market Share (%), By Application, 2018-2032F
- Figure 34. France Marine Battery Market, By Value, In USD Billion, 2018-2032F
- Figure 35. France Marine Battery Market Share (%), By Type, 2018-2032F
- Figure 36. France Marine Battery Market Share (%), By Function, 2018-2032F
- Figure 37. France Marine Battery Market Share (%), By Capacity, 2018-2032F
- Figure 38. France Marine Battery Market Share (%), By Application, 2018-2032F
- Figure 39. Italy Marine Battery Market, By Value, In USD Billion, 2018-2032F
- Figure 40. Italy Marine Battery Market Share (%), By Type, 2018-2032F
- Figure 41. Italy Marine Battery Market Share (%), By Function, 2018-2032F
- Figure 42. Italy Marine Battery Market Share (%), By Capacity, 2018-2032F
- Figure 43. Italy Marine Battery Market Share (%), By Application, 2018-2032F
- Figure 44. United Kingdom Marine Battery Market, By Value, In USD Billion, 2018-2032F
- Figure 45. United Kingdom Marine Battery Market Share (%), By Type, 2018-2032F
- Figure 46. United Kingdom Marine Battery Market Share (%), By Function, 2018-2032F
- Figure 47. United Kingdom Marine Battery Market Share (%), By Capacity, 2018-2032F
- Figure 48. United Kingdom Marine Battery Market Share (%), By Application, 2018-2032F
- Figure 49. Russia Marine Battery Market, By Value, In USD Billion, 2018-2032F
- Figure 50. Russia Marine Battery Market Share (%), By Type, 2018-2032F
- Figure 51. Russia Marine Battery Market Share (%), By Function, 2018-2032F
- Figure 52. Russia Marine Battery Market Share (%), By Capacity, 2018-2032F
- Figure 53. Russia Marine Battery Market Share (%), By Application, 2018-2032F
- Figure 54. Rest of Europe Marine Battery Market, By Value, In USD Billion, 2018-2032F
- Figure 55. Rest of Europe Marine Battery Market Share (%), By Type, 2018-2032F
- Figure 56. Rest of Europe Marine Battery Market Share (%), By Function, 2018-2032F
- Figure 57. Rest of Europe Marine Battery Market Share (%), By Capacity, 2018-2032F
- Figure 58. Rest of Europe Marine Battery Market Share (%), By Application, 2018-2032F
- Figure 59. Asia-Pacific Marine Battery Market, By Value, In USD Billion, 2018-2032F
- Figure 60. Asia-Pacific Marine Battery Market Share (%), By Type, 2018-2032F
- Figure 61. Asia-Pacific Marine Battery Market Share (%), By Function, 2018-2032F
- Figure 62. Asia-Pacific Marine Battery Market Share (%), By Capacity, 2018-2032F
- Figure 63. Asia-Pacific Marine Battery Market Share (%), By Application, 2018-2032F
- Figure 64. Asia-Pacific Marine Battery Market Share (%), By Country, 2018-2032F
- Figure 65. India Marine Battery Market, By Value, In USD Billion, 2018-2032F
- Figure 66. India Marine Battery Market Share (%), By Type, 2018-2032F
- Figure 67. India Marine Battery Market Share (%), By Function, 2018-2032F
- Figure 68. India Marine Battery Market Share (%), By Capacity, 2018-2032F
- Figure 69. India Marine Battery Market Share (%), By Application, 2018-2032F
- Figure 70. China Marine Battery Market, By Value, In USD Billion, 2018-2032F
- Figure 71. China Marine Battery Market Share (%), By Type, 2018-2032F
- Figure 72. China Marine Battery Market Share (%), By Function, 2018-2032F
- Figure 73. China Marine Battery Market Share (%), By Capacity, 2018-2032F
- Figure 74. China Marine Battery Market Share (%), By Application, 2018-2032F
- Figure 75. Japan Marine Battery Market, By Value, In USD Billion, 2018-2032F
- Figure 76. Japan Marine Battery Market Share (%), By Type, 2018-2032F
- Figure 77. Japan Marine Battery Market Share (%), By Function, 2018-2032F
- Figure 78. Japan Marine Battery Market Share (%), By Capacity, 2018-2032F
- Figure 79. Japan Marine Battery Market Share (%), By Application, 2018-2032F
- Figure 80. Australia Marine Battery Market, By Value, In USD Billion, 2018-2032F
- Figure 81. Australia Marine Battery Market Share (%), By Type, 2018-2032F
- Figure 82. Australia Marine Battery Market Share (%), By Function, 2018-2032F
- Figure 83. Australia Marine Battery Market Share (%), By Capacity, 2018-2032F
- Figure 84. Australia Marine Battery Market Share (%), By Application, 2018-2032F
- Figure 85. Rest of Asia-Pacific Marine Battery Market, By Value, In USD Billion, 2018-2032F
- Figure 86. Rest of Asia-Pacific Marine Battery Market Share (%), By Type, 2018-2032F
- Figure 87. Rest of Asia-Pacific Marine Battery Market Share (%), By Function, 2018-2032F
- Figure 88. Rest of Asia-Pacific Marine Battery Market Share (%), By Capacity, 2018-2032F
- Figure 89. Rest of Asia-Pacific Marine Battery Market Share (%), By Application, 2018-2032F
- Figure 90. South America Marine Battery Market, By Value, In USD Billion, 2018-2032F
- Figure 91. South America Marine Battery Market Share (%), By Type, 2018-2032F
- Figure 92. South America Marine Battery Market Share (%), By Function, 2018-2032F
- Figure 93. South America Marine Battery Market Share (%), By Capacity, 2018-2032F
- Figure 94. South America Marine Battery Market Share (%), By Application, 2018-2032F
- Figure 95. South America Marine Battery Market Share (%), By Country, 2018-2032F
- Figure 96. Middle East & Africa Marine Battery Market, By Value, In USD Billion, 2018-2032F
- Figure 97. Middle East & Africa Marine Battery Market Share (%), By Type, 2018-2032F
- Figure 98. Middle East & Africa Marine Battery Market Share (%), By Function, 2018-2032F
- Figure 99. Middle East & Africa Marine Battery Market Share (%), By Capacity, 2018-2032F
- Figure 100. Middle East & Africa Marine Battery Market Share (%), By Application, 2018-2032F
- Figure 101. Middle East & Africa Marine Battery Market Share (%), By Country, 2018-2032F
- Figure 102. By Type Map-Market Size (USD Billion) & Growth Rate (%), 2024
- Figure 103. By Function Map-Market Size (USD Billion) & Growth Rate (%), 2024
- Figure 104. By Capacity Map-Market Size (USD Billion) & Growth Rate (%), 2024
- Figure 105. By Application Map-Market Size (USD Billion) & Growth Rate (%), 2024
- Figure 106. By Region Map-Market Size (USD Billion) & Growth Rate (%), 2024
