New York, Jan. 11, 2024 (GLOBE NEWSWIRE) — Marine Lithium-ion Batteries are advanced energy storage systems designed for marine applications. These batteries provide a lightweight and high-energy-density solution for electric propulsion, onboard electronics, and auxiliary power systems in various marine vessels. The global Marine Lithium-ion Battery market is currently valued at US$283.7 Million. With a compound annual growth rate (CAGR) of 17.1%, the market is expected to reach US$856.6 Million by 2023–2030. The increasing focus on reducing greenhouse gas emissions, government initiatives promoting electric marine propulsion, and advancements in battery technology are driving market expansion.
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(GlobeNewsWire)