Marine Segment is Expected to Dominate the Global Marine Lithium-ion Batteries Market
Growing
demand for energy-efficient and environmentally friendly marine vessels &
Increasing government support for green shipping are the factors driving the
market growth.
According
to TechSci Research report, “Global Marine Lithium-ion Batteries Market - Industry
Size, Share, Trends, Competition Forecast & Opportunities, 2028”. The Global Marine Lithium-ion Batteries is anticipated
to project robust growth in the forecast period with a CAGR of 19.03% through 2028, Environmental Regulations
and Emissions Reduction: Stricter environmental regulations, especially in
ecologically sensitive areas like ports and coastal regions, are pushing vessel
operators to seek cleaner and more sustainable power sources. Marine lithium-ion
batteries enable compliance with emissions standards, reduce air and water
pollution, and contribute to a cleaner maritime environment. The trend toward electrification
is transforming the maritime industry. Electric and hybrid vessels powered by
lithium-ion batteries are becoming increasingly popular for passenger ferries,
cruise ships, and even cargo ships. Electrification helps reduce carbon
emissions and operational costs while enhancing vessel performance. Continuous
innovations in lithium-ion battery technology are leading to improved energy
density, safety, and overall performance. Advanced lithium-ion chemistries,
such as nickel manganese cobalt oxide (NMC) and lithium iron phosphate
(LiFePO4), are enhancing the capabilities of marine lithium-ion batteries,
making them more reliable and efficient. Lithium-ion batteries offer high
energy efficiency and can deliver consistent power, which is essential for
vessel propulsion. Electric and hybrid vessels equipped with marine lithium-ion
batteries can achieve better acceleration, improved maneuverability, and
enhanced overall energy efficiency.
Noise
Reduction and Passenger Comfort: Lithium-ion battery-powered vessels operate
quietly, reducing noise and vibration levels on board. This noise reduction
contributes to a more comfortable and enjoyable experience for passengers,
making electric and hybrid vessels an attractive choice for passenger ferries
and cruise ships.
Government
Incentives: Many governments are offering incentives, subsidies, and tax breaks
to promote the adoption of cleaner and more sustainable transportation
technologies, including marine lithium-ion batteries. These incentives reduce
the financial barriers for shipowners and operators and accelerate the
transition to eco-friendly propulsion systems.
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Cost
Reduction: Reducing the upfront cost of marine lithium-ion battery systems
remains a critical challenge. Continued efforts to lower the cost of batteries
through economies of scale, technological innovations, and enhanced
manufacturing processes are essential for broader adoption. Extending the range
of electric vessels is a priority. Innovations in battery technology, energy
management systems, and charging infrastructure are crucial for increasing the
operational range of electric and hybrid vessels. Ensuring the sustainability
of lithium-ion batteries involves responsible sourcing of materials, efficient
recycling processes, and reducing the environmental footprint of battery
production. Marine lithium-ion batteries can play a pivotal role in integrating
renewable energy sources into maritime operations. Vessels can harness surplus
energy from wind, solar, or tidal sources for charging batteries, reducing
reliance on fossil fuels. The industry will continue to be influenced by
government regulations and policies aimed at reducing emissions and promoting
eco-friendly transportation solutions. Ongoing government support in the form
of incentives and subsidies will drive market growth.
In
conclusion, the global marine lithium-ion batteries market is on a growth
trajectory due to environmental concerns, technological advancements, and the
electrification of maritime transport. Key drivers, such as regulatory
compliance, energy efficiency, and noise reduction, are pushing the industry
forward. To fully realize the potential of marine lithium-ion batteries,
addressing challenges related to cost, range, sustainability, and recycling is
essential. As the maritime industry evolves toward cleaner and more sustainable
practices, marine lithium-ion batteries are poised to play a central role in
shaping its future.
Key
market players in the Global Marine Lithium-ion Batteries Market are following:-
- Panasonic
Corporation
- BYD
Co. Ltd
- GS
Yuasa International Ltd.
- TSECH
Co.
- LG
Chem
- ReLieVe
- Hitachi
Chemical Company Ltd.
- Samsung SDI
- Exide Technologies
- Robert Bosch GmbH
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“The
marine lithium-ion battery market is expected to take a significant amount of
time before recovering from the COVID-19 pandemic due to the reduction of
cross-border trade and a general reduction in the marine industry.According to
the United Nations Conference for Trade and Development (UNCTAD), global
maritime trade plunged by 4.1% in 2020 due to the various nationwide lockdowns
and stopping cross-border trades.Although the maritime industry is slowly
gaining momentum due to the easing of COVID-19 restrictions, marine lithium-ion
battery demand is anticipated to rise slower. With the need for further
technological developments, coupled with slow growth in the electric maritime
sector, marine lithium-ion batteries will slowly gain traction..” said Mr.
Karan Chechi, Research Director with TechSci Research, a research-based global management
consulting firm.
Marine Lithium-ion Batteries Market – Global Industry
Size, Share, Trends, Opportunity, and Forecast Segmented By Type (LiFePO4, Lithium Cobalt Oxide, Lithium Nickel Cobalt
Aluminum Oxide), By Voltage (6V, 12V, 24V), By Rechargeable/Non-Rechargeable
(Rechargeable, Non-Rechargeable), By Application (Automotive, Marine,
Industrial and Energy Storage, Consumer Electronics), By Region, By Competition
2018-2028 has evaluated
the future growth potential of Global Marine
Lithium-ion Batteries Market and provides statistics and information on market
structure, size, share, and future growth. The report is intended to provide
cutting-edge market intelligence and help decision makers take sound investment
decisions. Besides, the report also identifies and analyzes the emerging trends
along with essential drivers, challenges, and opportunities present in the Global Marine Lithium-ion Batteries Market.
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