Research on Global Submarine Battery Market 2016-2020 adds on RnRMarketResearch.com. Submarines are crucial in a naval fleet due to their multi-operational capabilities and ability to complement other strategic resources. The global submarine market declined drastically in 1991 toward the end of the Cold War period. Since then, Brazil, Russia, India, and China (BRIC) and other developing countries of APAC are investing in the submarine market to strengthen their naval capabilities.
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The analysts forecast global submarine battery market to grow at a CAGR of 5.28% during the period 2016-2020. This report covers the present scenario and the growth prospects of the global submarine battery market for 2016-2020. To calculate the market size, the report considers the total number of submarines, segmentation by submarine type and average unit price.
The report, Global Submarine Battery Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. This report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
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The following companies are the key players in the global submarine battery market: EnerSys, EverExceed, Exide Technologies, HBL Power Systems, and Sunlight Systems. Other Prominent Vendors in the market are: Exide Industries, GS Yuasa, and Saft.
Increased demand from China will be a key trend for market growth. China’s demand for submarines has been growing owing to the country’s Taiwan dilemma. Resolving this issue has been the prime concern of the People’s Liberation Army (PLA). Due to this, PLA Navy’s (PLAN) prioritized heavily on the construction of Type-39A Yuan class conventional submarines (SSK). Between 2010 and 2011, PLAN launched 8 Yuan-class submarines and in 2012, they laid down five new Yuan-class. Currently, there are 13 Yuan-class in service, and seven more are in the construction phase. Within the next 5-8 years, APAC will have approximately 82 submarines.
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Further, the report states that recycling concerns over growing use of LAB will be a major challenge for the market. Lead is an extremely toxic metal, and as soon as the battery becomes inoperative, it is essential to ensure its appropriate collection and eco-friendly recycling. A single LAB disposed of erroneously into a municipal solid waste (MSW) collection system, and not removed before entering a resource recovery facility for mixed MSW, could foul 25 tons of MSW, hindering the recovery of the organic resources within this waste because of the high lead level.