The Marine Battery Market is projected to expand from USD 527 Million in 2022 to a remarkable USD 2,056 Million by 2030, registering a CAGR of 18.6%. This rapid growth is being fueled by the increasing adoption of hybrid and fully-electric vessels as the industry strives to reduce carbon emissions and meet future sustainability standards. ????
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- Commercial Ships will lead the market, driven by the demand for hybrid and electric propulsion systems to reduce emissions. The push for greener marine solutions is set to reduce CO? emissions from new ships by 40% by 2040.
- Lithium Batteries are projected to dominate the market due to their high energy density, long lifecycle, and low maintenance needs—making them the go-to power source for electric and hybrid vessels. ???
- The OEM Segment will drive growth in the marine battery market, as fleet modernization and sustainability laws push manufacturers to develop cleaner, more efficient vessels.
- Fully Electric Propulsion systems are anticipated to see the highest growth rate, with electric systems offering improved efficiency, weight reduction, and lower emissions. ??
- Europe is expected to lead the market in 2022, driven by increasing investment in R&D, fleet modernization efforts, and a push towards sustainable energy solutions for the maritime industry.
Head of Sales & Marketing Energy Industries Asia, Vice President at ABB
1 个月Very informative o and sz,-￡
Managing Partner at ATD Homes
1 个月Cleaner water cleaner air