Li-ion batteries compared to lead-acid offer improved discharge and charge efficiency, longer life(10X), light-weight(50% savings), non-hazardous, easy to maintain  and  offer deep cycle ability while maintaining power. Lithium Iron Phosphate batteries are undoubtedly more expensive than lead-acid batteries but their cost can be easily recovered in the long run.

Lithium batteries  being lightweight,are also incredibly powerful. They can hold their charge for much longer duration without a drop in voltage, allowing boat owners to take longer trips without recharging.

But, there is also inherent danger associated with Lithium batteries. Unlike flights, restrictions on devices that use lithium-ion batteries or Lithium-ion batteries as an energy storage device have not extended to passenger boats. It was only in Dec 2019 that three California members of Congress introduced federal legislation that requires small passenger boats to have at least two escape exits, strong fire alarm systems and create mandatory safety rules for the handling and storage of phones, cameras etc powered by lithium-ion batteries.



infographic: Marine Lithium battery market size and Forecast detailed with marine lithium battery market trends



Marine Lithium batteries will get a boost after more electric and hybrid boats hit the market. Volvo Penta is already working on electric drive systems for land-based vehicles,which could be improvised and passed on for marine applications. In 2018, it set itself a target of introducing hybrid or fully electric drivetrain options to all its marine products by 2021.

Since, hybrid and electric boats are at-least 5 years away from becoming mainstream,the biggest addressable market segment for marine lithium battery suppliers is the boat refurbishing market.

In case of ferries, which have a closed loop operation and quick turn around time, an all-electric system could payback for additional cost in as little as six years.


In Nov 2019, South Korea’s HMM joined Getting to Zero Coalition which includes Maersk, MAN and Euronav to develop the first CO2-free vessel before 2030. 

As of May 2020, there are more than 300 cruise ships worldwide, many of them run on cheap and polluting HFO. therefore, they are looking at various ways to cut down emissions. Hurtigruten is currently building three hybrid  expedition cruise ships at Norway’s Kleven Yard.

The marine lithium battery market is estimated at XX units per annum, growing at ~X% CAGR till 2025.US accounts for almost ~35% of global marine lithium battery market




  1. The Lithium Battery Co.
  2. Super B.B.V.
  3. Corvus Energy
  4. PMB Defence
  5. GS Yuasa
  6. NORIS Group GmbH
  7. MG Energy Systems B.V.
  8. Mastervolt
  9. Aquawatt
  10. Dometic
  12. Victron Energy
  13. RELiON Batteries
  14. Optimum Battery




  1.   Market Size and Forecast of marine Lithium battery market, by region, by price and by sales channel(Volume and Value)
  2.   Market Trends,risks, drivers and opportunities in  global marine lithium battery market
  3.   Growth in boat re-furbishing industry, by region
  4.   Market share of suppliers, and their painpoints
  5.   Growth strategy of marine lithium battery manufacturers and opportunity in charter market
  6.   Important distributors of marine lithium batteries in US , Europe and Asia
Sl noTopic
1Market Segmentation
2Scope of the report
4Research Methodology
5Executive Summary
7Insights from Industry stakeholders
8Cost breakdown of Product by sub-components and average profit margin
9Disruptive innovation in the Industry
10Technology trends in the Industry
11Consumer trends in the industry
12Recent Production Milestones
13Component Manufacturing in US, EU and China
14COVID-19 impact on overall market
15COVID-19 impact on Production of components
16COVID-19 impact on Point of sale
17Market Segmentation, Dynamics and Forecast by Geography, 2020-2025
18Market Segmentation, Dynamics and Forecast by Product Type, 2020-2025
19Market Segmentation, Dynamics and Forecast by Application, 2020-2025
20Market Segmentation, Dynamics and Forecast by End use, 2020-2025
21Product installation rate by OEM, 2020
22Incline/Decline in Average B-2-B selling price in past 5 years
23Competition from substitute products
24Gross margin and average profitability of suppliers
25New product development in past 12 months
26M&A in past 12 months
27Growth strategy of leading players
28Market share of vendors, 2020
29Company Profiles
30Unmet needs and opportunity for new suppliers


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