The Global Market for Submarine Battery is projected to be valued at USD 525 Million by 2025, with 5.4% CAGR during the forecast period, 2019–2025. Submarine batteries are installed in submarines to operate without disturbance, as they require a huge amount of electricity to operate safely underwater.
The market is segmented by region as Asia-Pacific, Europe, North America, the Middle East & Africa, and South America. The Asia-Pacific market holds the largest market share in the submarine battery owing to the increasing naval expansion in the region. China accounted for the largest share in 2018 as South China Sea land grab is the foundation of maritime tensions in the Asia Pacific. Hence, this will boost the market for submarine battery in China.
In Europe, Germany is expected to be the largest and the fastest-growing country in the submarine battery market as it is the leader in submarine construction in the region. Also, many new construction submarine programs in Germany are expected to come in next few years. As a result, the submarine battery market in Germany is estimated to have a significant CAGR during the forecast period.
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In North America, the US is projected to be the largest market as the US has launched most advanced fast attack submarine. Also, the US will grow the fastest rate. Such factors are likely to boost the submarine battery market in North America during the forecast period.
In the Middle East & Africa, Iran is projected to be the largest and the fastest growing country in the submarine battery market owing to increasing investment in military submarine in the country. Such factors are poised to boost the demand for submarine batteries.
In South America, Brazil is expected to be the largest and the fastest growing country in the submarine battery market owing to lucrative business incentive program in the country, thereby boosting demand for submarine battery in the country.
The global market for submarine battery is segmented on type and application. By type, the global market is segmented into valve-regulated lead acid batteries, flooded lead acid batteries, and others. The valve-regulated lead acid batteries segment is projected to be the largest market share in the global submarine battery market. By application, the global market is segmented as civil and military. The military segment is expected to hold the largest market share in the global submarine battery market.
The Global Submarine Battery Market is expected to grow at 5.4% CAGR during the forecast period.
The players operating in the Global Submarine Battery Market are Enersys (US), Exide Technologies (US), Champion Storage Battery Company Limited (China), Everexceed (China), Korea Special Battery Co. Ltd. (South Korea), Systems Sunlight Sa (Greece), Zibo Torch Energy Co. Ltd. (China), Gs Yuasa (Japan), HBL (India), Epsilor (Israel), and Kokam (South Korea).
Scope of the Report
This report provides an in-depth analysis of the global submarine battery market, tracking four market segments across five geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights the market size and share for South America, North America, the Middle East & Africa, Europe, and Asia-Pacific. The report also presents a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global submarine battery market by type, application, and region.
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- Valve-regulated Lead Acid Batteries
- Flooded Lead Acid Batteries
- North America
- Middle East & Africa
- South America