Marine battery markets are experiencing significant growth due to increasing demand for electric propulsion systems, renewable energy integration, and government regulations promoting emission reductions. The global lithium-ion battery market is forecasted to expand at a CAGR of 17.1% and reach US$856.6 Mn by 2030, driven by electrification and the shift towards cleaner energy solutions. The marine battery market is projected to reach USD 1.9 billion by 2030, with key companies including Corvus Energy, AYK Energy, Torqeedo GmbH, and Exide Technologies.

Marine Battery Markets' Rising Demand