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Marine Battery Market worth $1,506.0 million by 2030 - Exclusive Report by MarketsandMarkets™
The marine battery market, <100 Ah segment is projected to have the highest market share from 2024 to 2030. These batteries are lightweight and compact, less expensive and are highly suitable for recreational boats, fishing vessels, and nearshore operations which does not need high energy storage. Their affordability makes them an attractive option to price-sensitive operators while improved technology advances improve their reliability and lifespan. As demand for sustainable power solutions increases within the maritime industry, the <100Ah segment benefits from the large scope of applications and efficiency in satisfying specific operational needs.
The prismatic segment will be dominating the market share acting as an ideal form of battery for marine applications. These batteries offer various advantages like higher energy density and better thermal management making them ideal for various vessel types like recreational boats to commercial ships. Also, Prismatic form of batteries have robust casing which helps in enhancement of durability and resistance with reliable performance. These batteries are easier to stack and integrate into systems like propulsion and auxiliary systems driving their demand for adoption in hybrid and electric marine vessels.
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Asia Pacific marine battery industry accounts for the second-highest share of the global market, primarily because of the emphasis to the sustainable maritime practices with focus in the region and the adoption of various advanced technologies. Factors like Large ports, inland waterways, and a strong recreational focus on growing the marine industry are factors driving the market. Also, the environmental regulations like the adoption of zero-emission operations in waterways further drive the usage of hybrid and electric propulsion systems in marine vessels. Asia Pacific government also provides incentives for renewable energy projects focusing on reducing greenhouse gas emissions in maritime transport contributing to the market's growth in this region.
Siemens Energy ( Germany ), Leclanché SA ( Switzerland ), Corvus Energy ( Canada ), Toshiba Corporation ( Japan ) and EnerSys (US) are the major key players in the marine battery companies . These companies have strong distribution networks across regions like North America , Europe , Asia Pacific , the Middle East and Africa , and Latin America .
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