Submarine batteries are used to power the equipment and in-house systems in submarines when the submarine is submerged underwater. The batteries installed in a submarine are also deployed for propulsion whenever required. Also, the stringent laws with regards to marine emissions have also increased the demand for submarine batteries. The average shelf life of submarine batteries is approximately 30 to 40 years. Moreover, many major manufacturers design batteries with adequate submarine battery capacity.

Global Submarine Battery Market size is projected to reach USD 525 Million by 2025, with 5.4% CAGR between 2019 and 2025. 

The major factors driving the growth of the global submarine battery industry include increased spending by the government in the defense sector. Moreover, the investment by key players for developing advanced submarines is also expected to drive the use of submarine batteries. For instance, in September 2019, in May 2019, the US Navy planned to invest USD 2 billion for its next-generation nuclear submarine program. This is expected to increase the demand for submarine navy batteries, that are an integral component of submarines. Moreover, increasing investment in the Navy in developing countries is likely to be an opportunity for the submarine battery market players. However, high maintenance cost is expected to hinder the global market. 

Many major players such as Enersys, Exide Technologies, Everexceed, Gs Yuasa, Korea Special Battery Co. Ltd. (South Korea), Systems Sunlight Sa (Greece), and Zibo Torch Energy Co. Ltd. (China) are actively focusing on contracts & agreements for expanding their operations across the globe.  For instance, in June 2018, Exide Technologies signed a contract with the US Navy in order to supply lead battery systems for the US Navy’s fleet of submarines. The contract also includes components and features such as nuclear submarine batteries and upgraded submarine cell technology. This contract has helped the company to strengthen its operations in the US market. Similar contracts & agreements made by major market players are likely to boost the global submarine battery market during the forecast period.