Marine Lithium-ion Batteries Market Size and Outlook 2031

Report Description

Forecast Period	2027-2031
Market Size (2025)	USD 519.13 Million
CAGR (2026-2031)	15.54%
Fastest Growing Segment	Marine
Largest Market	Asia Pacific
Market Size (2031)	USD 1235.01 Million

Market Overview

The Global Marine Lithium-ion Batteries Market will grow from USD 519.13 Million in 2025 to USD 1235.01 Million by 2031 at a 15.54% CAGR. Marine lithium-ion batteries are high-capacity rechargeable energy storage systems that utilize lithium ions as the primary charge carrier to provide propulsion and auxiliary power for maritime vessels. The expansion of this market is fundamentally driven by stringent environmental regulations enforced by the International Maritime Organization to reduce greenhouse gas emissions, alongside the shipping industry's critical imperative to enhance fuel efficiency and lower operational costs through fleet electrification.

Reflecting the industry's accelerating adoption of this technology, According to the Maritime Battery Forum, in 2024, the global register of battery-powered ships totaled 1,228 vessels, comprising 879 units in operation and 349 under construction or on order. Despite this momentum, a significant challenge hindering broader market expansion is the high initial capital expenditure required for high-density battery systems and the associated port charging infrastructure, which restricts financial viability for operators in the long-haul shipping segment.

Key Market Drivers

The implementation of stringent international maritime emission regulations is the primary catalyst propelling the global marine lithium-ion batteries market, compelling shipowners to actively transition away from conventional fossil fuel dependencies. Regulatory frameworks, such as the EU's Emissions Trading System and the International Maritime Organization's decarbonization targets, are forcing the industry to integrate alternative fuel and energy storage technologies to avoid financial penalties and operational restrictions. This regulatory pressure has directly resulted in a surge of green tonnage orders; according to DNV, July 2025, in the 'Alternative Fuels Insight' platform update, new orders for alternative-fuelled vessels reached 19.8 million gross tonnes in the first half of 2025, representing a 78% increase compared to the same period in 2024. Consequently, operators are increasingly treating battery integration as a fundamental compliance requirement.

Technological advancements in battery energy density and safety are simultaneously expanding the operational feasibility of lithium-ion solutions beyond short-haul ferries to larger, more complex offshore vessels. Innovations in cell chemistry now allow for massive onboard energy storage capacities that support extended zero-emission operations, addressing previous range anxiety issues. Illustrating this enhanced capability, according to Corvus Energy, February 2025, in a company press announcement, the manufacturer was selected to supply a battery system with nearly 25 MWh capacity for a new Service Operation Vessel, representing the largest Lithium Iron Phosphate system ever delivered for a maritime project. This technical maturation is widening the addressable market, evidenced by the fact that, according to Baird Maritime, in 2025, Corvus Energy alone reported a cumulative track record of more than 1,300 projects deployed globally.

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Key Market Challenges

The high initial capital expenditure required for high-density battery systems and the development of associated port charging infrastructure constitutes a formidable barrier to the Global Marine Lithium-ion Batteries Market. Shipowners and operators face substantial financial risks when considering the transition to electric propulsion, as the upfront costs for battery-integrated vessels significantly exceed those of conventional diesel-powered fleets. This economic disparity is further exacerbated by the scarcity of high-power charging facilities at ports, which necessitates massive onshore investment to make electric vessel operations commercially viable. Consequently, this heavy financial burden delays fleet electrification decisions and restricts the technology's adoption primarily to short-sea and ferry segments where operational loops are predictable.

The magnitude of the funding required to overcome this infrastructure gap is staggering and directly impedes market scalability. According to the Global Maritime Forum, in 2024, the broader transition to zero-emission shipping technologies and the necessary supporting infrastructure is projected to require an estimated £3.2 trillion in capital investment by 2050. This colossal investment requirement creates deep market hesitancy, as the uncertainty regarding who bears the cost—ports, utility companies, or ship operators—stalls the development of the essential charging networks needed to support the widespread deployment of marine lithium-ion batteries.

Key Market Trends

The market is observing a distinct shift away from Nickel Manganese Cobalt (NMC) chemistries toward Lithium Iron Phosphate (LFP) and Lithium Manganese Iron Phosphate (LMFP) to address safety and cost challenges. This transition is primarily propelled by the enhanced thermal stability of LFP variants, which is paramount for complying with rigorous maritime safety standards, alongside their superior cycle life that supports the demanding charge-discharge profiles of commercial vessels. Furthermore, a dramatic reduction in manufacturing costs has accelerated this uptake; according to Saur Energy, March 2025, the price of China-made LFP cells plummeted to a record low of $50 per kWh in 2024 due to supply chain overcapacity, making them an increasingly economically viable option for large-scale marine energy storage projects despite their lower energy density.

Rather than full electrification, a dominant trend is the integration of lithium-ion batteries into hybrid propulsion systems. This approach pairs batteries with diesel generators or alternative fuel engines to optimize fuel efficiency through peak shaving and enable "silent cruising" modes for zero-emission port operations, effectively bridging the gap for long-haul shipping where full battery propulsion remains impractical. This strategic shift toward hybridization is evident in major industry order books; according to Wärtsilä, February 2025, the capacity of contracted vessels featuring alternative fuel and hybrid-ready propulsion systems reached 49% of the total order intake in 2024, reflecting a decisive move by operators to future-proof fleets against tightening environmental regulations while maintaining operational flexibility.

Segmental Insights

The Commercial segment is currently the fastest-growing category within the Global Marine Lithium-ion Batteries Market, driven by stringent environmental regulations enforced by the International Maritime Organization (IMO). Shipowners and operators are increasingly adopting hybrid and fully electric propulsion systems to comply with emission reduction mandates and achieve carbon neutrality goals. This shift is particularly evident in the retrofitting of ferries, tugboats, and offshore support vessels, where lithium-ion technology offers superior energy density and operational efficiency. Consequently, the commercial maritime sector's pursuit of sustainable power solutions is fueling rapid market expansion.

Regional Insights

Asia Pacific stands as the leading region in the Global Marine Lithium-ion Batteries Market, primarily due to its unparalleled dominance in the global shipbuilding industry and battery manufacturing sector. Major maritime nations such as China, South Korea, and Japan secure the vast majority of new vessel orders, facilitating the direct integration of electric propulsion systems during construction. The region benefits from a localized supply chain, hosting the world’s largest lithium-ion battery producers, which ensures cost-effective access to critical components. Furthermore, supportive decarbonization policies and green shipping initiatives from regional governments actively drive the adoption of hybrid and electric marine technologies, solidifying the region's market supremacy.

Recent Developments

In December 2025, Corvus Energy launched the Blue Whale NxtGen, a new marine battery system designed for vessels requiring high energy density and substantial power capability. The system utilizes cobalt-free lithium iron phosphate (LFP) chemistry and offers a 1C charge and discharge rate, making it suitable for various operational modes including energy-intensive applications. The company highlighted that this product incorporates a fourth-generation battery management system and enhanced cybersecurity standards to ensure operational trust. The first deliveries of this scalable solution are scheduled for the fourth quarter of 2026, aiming to support the industry's shift towards sustainable shipping.
In December 2025, Corvus Energy and BYD Energy Storage signed a Memorandum of Understanding to collaborate on the development of next-generation marine battery solutions. This strategic partnership combines BYD’s extensive manufacturing capabilities and expertise in lithium iron phosphate (LFP) cell technology with Corvus Energy’s established leadership in marine energy storage systems. The collaboration aims to accelerate the time-to-market for new products and expand global reach, delivering safer and more efficient energy storage options for shipowners. Both companies will coordinate market activities to support the shipping industry’s transition toward cleaner, sustainable operations.
In November 2025, Echandia secured a significant contract from ABB to supply a battery energy storage system for a new hybrid electric icebreaker being built for the Canadian Coast Guard. The agreement involves the delivery of a 3.7 MWh battery system, marking the company's first entry into the Canadian maritime market. The vessel, which will be constructed at Helsinki Shipyard, is designed to operate as a hybrid ship, utilizing the battery system to optimize fuel efficiency and reduce emissions during icebreaking operations. This order strengthens the company's global footprint in sustainable maritime propulsion technologies.
In November 2024, AYK Energy completed the installation of a 12 megawatt-hour (MWh) energy storage system on board a new hybrid LNG-electric ferry for Brittany Ferries. The company described this installation as the largest marine battery ever fitted to a ship at the time of the announcement. The battery system, known as the Orion+, was manufactured and installed within a four-month timeframe at a shipyard in China. The vessel is expected to operate on zero-emission battery power during port maneuvers, significantly improving air quality and reducing carbon emissions in port areas along its route between the United Kingdom and France.

Key Market Players

Panasonic Corporation
BYD Co. Ltd
GS Yuasa International Ltd.
TSECH Co.
LG Chem
ReLieVe
Hitachi Chemical Company Ltd.
Samsung SDI
Exide Technologies
Robert Bosch GmbH

By Type	By Voltage	By Rechargeable/Non-Rechargeable	By Application	By Region
LiFePO4 Lithium Cobalt Oxide Lithium Nickel Cobalt Aluminum Oxide	6V 12V 24V	Rechargeable Non-Rechargeable	Automotive Marine Industrial and Energy Storage Consumer Electronics	North America Europe Asia Pacific South America Middle East & Africa

Report Scope:

In this report, the Global Marine Lithium-ion Batteries Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

Marine Lithium-ion Batteries Market, By Type:

LiFePO4
Lithium Cobalt Oxide
Lithium Nickel Cobalt Aluminum Oxide

Marine Lithium-ion Batteries Market, By Voltage:

Marine Lithium-ion Batteries Market, By Rechargeable/Non-Rechargeable:

Rechargeable
Non-Rechargeable

Marine Lithium-ion Batteries Market, By Application:

Automotive
Marine
Industrial and Energy Storage
Consumer Electronics

Marine Lithium-ion Batteries Market, By Region:

North America

United States
Canada
Mexico

Europe

France
United Kingdom
Italy
Germany
Spain

Asia Pacific

China
India
Japan
Australia
South Korea

South America

Brazil
Argentina
Colombia

Middle East & Africa

South Africa
Saudi Arabia
UAE

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Marine Lithium-ion Batteries Market.

Available Customizations:

Global Marine Lithium-ion Batteries Market report with the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

Detailed analysis and profiling of additional market players (up to five).

Global Marine Lithium-ion Batteries Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]

Table of content

1. Product Overview

1.1. Market Definition

1.2. Scope of the Market

1.2.1. Markets Covered

1.2.2. Years Considered for Study

1.2.3. Key Market Segmentations

2. Research Methodology

2.1. Objective of the Study

2.2. Baseline Methodology

2.3. Key Industry Partners

2.4. Major Association and Secondary Sources

2.5. Forecasting Methodology

2.6. Data Triangulation & Validation

2.7. Assumptions and Limitations

3. Executive Summary

3.1. Overview of the Market

3.2. Overview of Key Market Segmentations

3.3. Overview of Key Market Players

3.4. Overview of Key Regions/Countries

3.5. Overview of Market Drivers, Challenges, Trends

4. Voice of Customer

5. Global Marine Lithium-ion Batteries Market Outlook

5.1. Market Size & Forecast

5.1.1. By Value

5.2. Market Share & Forecast

5.2.1. By Type (LiFePO4, Lithium Cobalt Oxide, Lithium Nickel Cobalt Aluminum Oxide)

5.2.2. By Voltage (6V, 12V, 24V)

5.2.3. By Rechargeable/Non-Rechargeable (Rechargeable, Non-Rechargeable)

5.2.4. By Application (Automotive, Marine, Industrial and Energy Storage, Consumer Electronics)

5.2.5. By Region

5.2.6. By Company (2025)

5.3. Market Map

6. North America Marine Lithium-ion Batteries Market Outlook

6.1. Market Size & Forecast

6.1.1. By Value

6.2. Market Share & Forecast

6.2.1. By Type

6.2.2. By Voltage

6.2.3. By Rechargeable/Non-Rechargeable

6.2.4. By Application

6.2.5. By Country

6.3. North America: Country Analysis

6.3.1. United States Marine Lithium-ion Batteries Market Outlook

6.3.1.1. Market Size & Forecast

6.3.1.1.1. By Value

6.3.1.2. Market Share & Forecast

6.3.1.2.1. By Type

6.3.1.2.2. By Voltage

6.3.1.2.3. By Rechargeable/Non-Rechargeable

6.3.1.2.4. By Application

6.3.2. Canada Marine Lithium-ion Batteries Market Outlook

6.3.2.1. Market Size & Forecast

6.3.2.1.1. By Value

6.3.2.2. Market Share & Forecast

6.3.2.2.1. By Type

6.3.2.2.2. By Voltage

6.3.2.2.3. By Rechargeable/Non-Rechargeable

6.3.2.2.4. By Application

6.3.3. Mexico Marine Lithium-ion Batteries Market Outlook

6.3.3.1. Market Size & Forecast

6.3.3.1.1. By Value

6.3.3.2. Market Share & Forecast

6.3.3.2.1. By Type

6.3.3.2.2. By Voltage

6.3.3.2.3. By Rechargeable/Non-Rechargeable

6.3.3.2.4. By Application

7. Europe Marine Lithium-ion Batteries Market Outlook

7.1. Market Size & Forecast

7.1.1. By Value

7.2. Market Share & Forecast

7.2.1. By Type

7.2.2. By Voltage

7.2.3. By Rechargeable/Non-Rechargeable

7.2.4. By Application

7.2.5. By Country

7.3. Europe: Country Analysis

7.3.1. Germany Marine Lithium-ion Batteries Market Outlook

7.3.1.1. Market Size & Forecast

7.3.1.1.1. By Value

7.3.1.2. Market Share & Forecast

7.3.1.2.1. By Type

7.3.1.2.2. By Voltage

7.3.1.2.3. By Rechargeable/Non-Rechargeable

7.3.1.2.4. By Application

7.3.2. France Marine Lithium-ion Batteries Market Outlook

7.3.2.1. Market Size & Forecast

7.3.2.1.1. By Value

7.3.2.2. Market Share & Forecast

7.3.2.2.1. By Type

7.3.2.2.2. By Voltage

7.3.2.2.3. By Rechargeable/Non-Rechargeable

7.3.2.2.4. By Application

7.3.3. United Kingdom Marine Lithium-ion Batteries Market Outlook

7.3.3.1. Market Size & Forecast

7.3.3.1.1. By Value

7.3.3.2. Market Share & Forecast

7.3.3.2.1. By Type

7.3.3.2.2. By Voltage

7.3.3.2.3. By Rechargeable/Non-Rechargeable

7.3.3.2.4. By Application

7.3.4. Italy Marine Lithium-ion Batteries Market Outlook

7.3.4.1. Market Size & Forecast

7.3.4.1.1. By Value

7.3.4.2. Market Share & Forecast

7.3.4.2.1. By Type

7.3.4.2.2. By Voltage

7.3.4.2.3. By Rechargeable/Non-Rechargeable

7.3.4.2.4. By Application

7.3.5. Spain Marine Lithium-ion Batteries Market Outlook

7.3.5.1. Market Size & Forecast

7.3.5.1.1. By Value

7.3.5.2. Market Share & Forecast

7.3.5.2.1. By Type

7.3.5.2.2. By Voltage

7.3.5.2.3. By Rechargeable/Non-Rechargeable

7.3.5.2.4. By Application

8. Asia Pacific Marine Lithium-ion Batteries Market Outlook

8.1. Market Size & Forecast

8.1.1. By Value

8.2. Market Share & Forecast

8.2.1. By Type

8.2.2. By Voltage

8.2.3. By Rechargeable/Non-Rechargeable

8.2.4. By Application

8.2.5. By Country

8.3. Asia Pacific: Country Analysis

8.3.1. China Marine Lithium-ion Batteries Market Outlook

8.3.1.1. Market Size & Forecast

8.3.1.1.1. By Value

8.3.1.2. Market Share & Forecast

8.3.1.2.1. By Type

8.3.1.2.2. By Voltage

8.3.1.2.3. By Rechargeable/Non-Rechargeable

8.3.1.2.4. By Application

8.3.2. India Marine Lithium-ion Batteries Market Outlook

8.3.2.1. Market Size & Forecast

8.3.2.1.1. By Value

8.3.2.2. Market Share & Forecast

8.3.2.2.1. By Type

8.3.2.2.2. By Voltage

8.3.2.2.3. By Rechargeable/Non-Rechargeable

8.3.2.2.4. By Application

8.3.3. Japan Marine Lithium-ion Batteries Market Outlook

8.3.3.1. Market Size & Forecast

8.3.3.1.1. By Value

8.3.3.2. Market Share & Forecast

8.3.3.2.1. By Type

8.3.3.2.2. By Voltage

8.3.3.2.3. By Rechargeable/Non-Rechargeable

8.3.3.2.4. By Application

8.3.4. South Korea Marine Lithium-ion Batteries Market Outlook

8.3.4.1. Market Size & Forecast

8.3.4.1.1. By Value

8.3.4.2. Market Share & Forecast

8.3.4.2.1. By Type

8.3.4.2.2. By Voltage

8.3.4.2.3. By Rechargeable/Non-Rechargeable

8.3.4.2.4. By Application

8.3.5. Australia Marine Lithium-ion Batteries Market Outlook

8.3.5.1. Market Size & Forecast

8.3.5.1.1. By Value

8.3.5.2. Market Share & Forecast

8.3.5.2.1. By Type

8.3.5.2.2. By Voltage

8.3.5.2.3. By Rechargeable/Non-Rechargeable

8.3.5.2.4. By Application

9. Middle East & Africa Marine Lithium-ion Batteries Market Outlook

9.1. Market Size & Forecast

9.1.1. By Value

9.2. Market Share & Forecast

9.2.1. By Type

9.2.2. By Voltage

9.2.3. By Rechargeable/Non-Rechargeable

9.2.4. By Application

9.2.5. By Country

9.3. Middle East & Africa: Country Analysis

9.3.1. Saudi Arabia Marine Lithium-ion Batteries Market Outlook

9.3.1.1. Market Size & Forecast

9.3.1.1.1. By Value

9.3.1.2. Market Share & Forecast

9.3.1.2.1. By Type

9.3.1.2.2. By Voltage

9.3.1.2.3. By Rechargeable/Non-Rechargeable

9.3.1.2.4. By Application

9.3.2. UAE Marine Lithium-ion Batteries Market Outlook

9.3.2.1. Market Size & Forecast

9.3.2.1.1. By Value

9.3.2.2. Market Share & Forecast

9.3.2.2.1. By Type

9.3.2.2.2. By Voltage

9.3.2.2.3. By Rechargeable/Non-Rechargeable

9.3.2.2.4. By Application

9.3.3. South Africa Marine Lithium-ion Batteries Market Outlook

9.3.3.1. Market Size & Forecast

9.3.3.1.1. By Value

9.3.3.2. Market Share & Forecast

9.3.3.2.1. By Type

9.3.3.2.2. By Voltage

9.3.3.2.3. By Rechargeable/Non-Rechargeable

9.3.3.2.4. By Application

10. South America Marine Lithium-ion Batteries Market Outlook

10.1. Market Size & Forecast

10.1.1. By Value

10.2. Market Share & Forecast

10.2.1. By Type

10.2.2. By Voltage

10.2.3. By Rechargeable/Non-Rechargeable

10.2.4. By Application

10.2.5. By Country

10.3. South America: Country Analysis

10.3.1. Brazil Marine Lithium-ion Batteries Market Outlook

10.3.1.1. Market Size & Forecast

10.3.1.1.1. By Value

10.3.1.2. Market Share & Forecast

10.3.1.2.1. By Type

10.3.1.2.2. By Voltage

10.3.1.2.3. By Rechargeable/Non-Rechargeable

10.3.1.2.4. By Application

10.3.2. Colombia Marine Lithium-ion Batteries Market Outlook

10.3.2.1. Market Size & Forecast

10.3.2.1.1. By Value

10.3.2.2. Market Share & Forecast

10.3.2.2.1. By Type

10.3.2.2.2. By Voltage

10.3.2.2.3. By Rechargeable/Non-Rechargeable

10.3.2.2.4. By Application

10.3.3. Argentina Marine Lithium-ion Batteries Market Outlook

10.3.3.1. Market Size & Forecast

10.3.3.1.1. By Value

10.3.3.2. Market Share & Forecast

10.3.3.2.1. By Type

10.3.3.2.2. By Voltage

10.3.3.2.3. By Rechargeable/Non-Rechargeable

10.3.3.2.4. By Application

11. Market Dynamics

11.1. Drivers

11.2. Challenges

12. Market Trends & Developments

12.1. Merger & Acquisition (If Any)

12.2. Product Launches (If Any)

12.3. Recent Developments

13. Global Marine Lithium-ion Batteries Market: SWOT Analysis

14. Porter's Five Forces Analysis

14.1. Competition in the Industry

14.2. Potential of New Entrants

14.3. Power of Suppliers

14.4. Power of Customers

14.5. Threat of Substitute Products

15. Competitive Landscape

15.1. Panasonic Corporation

15.1.1. Business Overview

15.1.2. Products & Services

15.1.3. Recent Developments

15.1.4. Key Personnel

15.1.5. SWOT Analysis

15.2. BYD Co. Ltd

15.3. GS Yuasa International Ltd.

15.4. TSECH Co.

15.5. LG Chem

15.6. ReLieVe

15.7. Hitachi Chemical Company Ltd.

15.8. Samsung SDI

15.9. Exide Technologies

15.10. Robert Bosch GmbH

16. Strategic Recommendations

17. About Us & Disclaimer

Report Description

Table of content

Figures and Tables

Frequently asked questions

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