The demand for submarine batteries is primarily driven by the growing need for reliable and efficient power sources in the submarine industry. With the increasing deployment of electric and hybrid-electric submarines, the demand for advanced batteries has surged significantly in recent years.
In addition, military modernization programs across the world, particularly in developed countries, have also contributed to the growth of the submarine battery market. The need for improved defense capabilities, advanced surveillance systems, and enhanced communication technologies has led to the development of sophisticated submarines that require high-performance batteries.
Furthermore, the growing focus on environmental sustainability and the adoption of green technologies in the defense sector have spurred the development of eco-friendly submarine batteries. These batteries are designed to minimize the environmental impact of submarine operations, while also improving their performance and efficiency.
Submarine Battery Market Overview:
From the recent research reports, the Submarine Battery Market is foreseen to grow in terms of value up to USD 1.33 billion by 2027 with an attractive compound annual growth rate (CAGR) of 5.45%.
Global Submarine Battery Market – Segmentation
The submarine battery market analysis is segmented into type, application, and region. The type segment is sub-segmented into valve-regulated lead-acid batteries, flooded lead-acid batteries, and others. Among these, the valve-regulated lead-acid batteries segment grows at a higher CAGR as these batteries are rechargeable.
The application segment is sub-segmented into civil and military. Among these, the military segment holds the largest market share owing to increasing spending by naval sectors of different countries, including China, the US, and India.
Industry/ Innovation/ Related News
March 24, 2021 ---- The Japan Maritime Self-Defense Force (JMSDF) announced commissioning its 12th and final Soryu-class diesel-electric attack submarine (SSK) in Kobe, Hyogo Prefecture. The JMSDF held the Ship Commissioning ceremony of the submarine TORYU at Kawasaki Heavy Industries, Ltd. The project of the first submarine in the class, Soryu (SS-501), was laid down in March 2005. The design features improved underwater endurance thanks to lithium-ion batteries from the eleventh submarine in the class.
Major Players
Players operating in the global submarine battery market include Exide Technologies (US), Enersys (US), Everexceed (China), Korea Special Battery Co. Ltd. (South Korea), Gs Yuasa (Japan), Systems Sunlight Sa (Greece), HBL (India), Zibo Torch Energy Co. Ltd. (China), Epsilor (Israel), Kokam (South Korea), and Champion Storage Battery Company Limited (China), among others.
