Submarine Batteries Market Size, Share and Global Trend By Type (Lead Acid, Lithium-Ion, Others) and Regional Forecast, 2024-2032

The submarine batteries are required to power the equipment and in house systems in submarines when the submarine is submerged underwater. When on the surface the diesel engines are used to run the submarine but when submerged batteries play an essential role.

The batteries installed in the submarine are also sometimes used in case of propulsion when it is the only option left. Therefore the batteries from a vital part of the submarines. The strict laws against the marine emissions imposed have increased the demand of the batteries in submarines. The submarine once manufactured is used for 30-40 years thereafter, and construction of a submarine requires many years.

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The rising investments in the defense sector from various countries have seen a rise in the number of submarines all around the world acting as a boost for the global submarine batteries market. Looking at the planned submarines to go on floor during the given forecast period the global submarine batteries market is set to grow at a healthy rate.

On the basis of the type of battery, the global submarine batteries market can be segmented into lithium-ion, lead-acid and other batteries. As the lithium-ion battery technology is a new concept in submarines battery and most of the submarines right now are running on lead-acid batteries the lead-acid battery segment dominates the global submarine batteries market.

The submarine batteries are only deployed in submarines and submarines are owned by the military forces of the respective country. Therefore, the military sector is the one and only application segment of the global submarine batteries market.

The major market driver for the global submarine batteries market is the rising investments in the marine sector. Various countries focused on bringing solidity to their defense forces have increased investments in submarine construction, which in turn will drive the growth of the global submarine batteries market. Also, the technological advancements have helped lithium-ion to be used for batteries reducing the weight to be carried and giving high energy to weight ratio.

Key market restraint for the global submarine batteries market is the threat of explosion carried due to the presence of the liquid electrolyte. The other factor which can hinder the growth of the global submarine batteries market is the rising concerns over recycling of the lead-acid batteries.

Key Players Covered

Some of the notable companies in the global submarine batteries market are Systems Sunlight S.A., Exide Technologies, EnerSys, Zibo Torch Energy Co., Ltd., Epsilor Electric Fuel, HBL Power Systems Ltd., Rolls Battery - Rolls UK & Europe, Standard Battery, Inc., Kokam, Universal Power Group, Inc., GS Yuasa and others.

SEGMENTATION

Regional Analysis

The global submarine batteries market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The Asia Pacific region holds the largest market share in the global submarine batteries market owing to the presence of a large number of submarines in the region. The major countries in the region include North Korea, China, India, and Japan. The other factor which has seen Asia pacific region dominate the market is the technological advancements brought in by countries making possible the use of lithium-ion batteries. Europe and North America are the other regions having a good take in the global submarine batteries market. The USA has a strong defense and commercial fleets are also more in number due to the exploration activities. 

Key Industry Developments

• In October 2018, Japan’s first submarine which is powered by lithium-ion batteries was launched. The launched submarine was named Oryu and it is the 11^th submarine based on the Soryu’s design. The first vessel of soryu’s class was launced in 2005 which is amongst the largest diesel-electric submarines in the world.
• In July 2019, France launched its new nuclear-powered submarine named suffren. The submarine is capable of staying underwater until the food runs out, unlike the earlier ones which were conventionally powered. The submarine is first in the class of the France Navy’s $10.3 Billion Barracuda program.