The global submarine battery market size reached US$ 1.1 Billion in 2023. Looking forward, the market is projected to reach US$ 1.6 Billion by 2032, exhibiting a growth rate (CAGR) of 4.25% during 2023-2032. 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.
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.
2. What is the expected growth rate of the global submarine battery market during 2024-2032?
3. What are the key factors driving the global submarine battery market?
4. What has been the impact of COVID-19 on the global submarine battery market?
5. What is the breakup of the global submarine battery market based on the type?
6. What is the breakup of the global submarine battery market based on the application?
7. What are the key regions in the global submarine battery market?
8. Who are the key players/companies in the global submarine battery 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
This report 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 2024-2032. The report has categorized the market based on type and application.Type Insights:
- Valve-regulated Lead Acid Batteries
- Flooded Lead Acid Batteries
- Others
Application Insights:
- Civil
- Military
Regional Insights:
- North America
- United States
- Canada
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Competitive Landscape
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
1. How big is the global submarine battery market?2. What is the expected growth rate of the global submarine battery market during 2024-2032?
3. What are the key factors driving the global submarine battery market?
4. What has been the impact of COVID-19 on the global submarine battery market?
5. What is the breakup of the global submarine battery market based on the type?
6. What is the breakup of the global submarine battery market based on the application?
7. What are the key regions in the global submarine battery market?
8. Who are the key players/companies in the global submarine battery market?
Table of Contents
1 Preface3 Executive Summary10 Value Chain Analysis12 Price Analysis
2 Scope and Methodology
4 Introduction
5 Global Submarine Battery Market
6 Market Breakup by Type
7 Market Breakup by Application
8 Market Breakup by Region
9 Drivers, Restraints, and Opportunities
11 Porters Five Forces Analysis
13 Competitive Landscape
List of Figures
List of Tables
Companies Mentioned
- 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.
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 137 |
| Published | April 2024 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value ( USD | $ 1.1 Billion |
| Forecasted Market Value ( USD | $ 1.6 Billion |
| Compound Annual Growth Rate | 4.2% |
| Regions Covered | Global |
| No. of Companies Mentioned | 8 |
