Market Share of Global Marine Battery Industry
The marine battery market is fragmented in nature, with the presence of several players holding significant shares in the market. Some of the prominent players in the market are BorgWarner Inc., Siemens AG, Wartsila Corporation, Exide Technologies, and Saft, among others.
An increase in focus on the development of lightweight, high-power, reduced size and operates for longer duration marine batteries from OEMs drives the growth of the market. For instance, in March 2022, RELiON Battery, a lithium batteries manufacturer, launched its InSight Series 12V battery which offers boat and vessel owners the ability to power more appliances for longer while off the grid. The company stated that one battery at 120 amp-hours provides 160 amps continuous current and can power multiple appliances in a marine vessel at the same time.
Marine Battery Market Leaders
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Siemens AG
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Exide Technologies
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Saft
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BorgWarner Inc.
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Wartsila Corporation
*Disclaimer: Major Players sorted in no particular order
