According to the latest report by IMARC Group, titled “Industrial Batteries Market Report: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” the global industrial batteries market reached a value of US$ 19.33 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 28.68 Billion by 2027, exhibiting at a CAGR of 6.3% during 2022-2027.
Industrial batteries represent electrochemical devices that convert chemical energy into electrical power. They comprise of anodes, cathodes, and electrolyte solutions that aid in providing resistance to extreme temperatures and vibrations. Some of the commonly available product variants include nickel-based, lithium titanate, lithium magnesium oxide, lead-based batteries, etc. Industrial batteries supply voltage to various vehicle accessories, such as radio, music systems, charging plugs, etc.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Global Industrial Batteries Market Trends:
The rising need for continuous and reliable sources of energy is primarily driving the industrial batteries market. Additionally, the widespread product adoption as a power source in uninterruptible power source (UPS), medical equipment, safety alarms, tracking systems, automobile accessories, etc., is further catalyzing the market growth. Besides this, the growing utilization of lithium-ion (Li-ion) batteries in surveillance and alarm systems, industrial electronics, solar power backup storage systems, etc., is acting as another significant growth-inducing factor. Moreover, the shifting consumer preferences from traditionally used batteries towards the industrial variants, owing to their various characteristics, such as low internal impedance, high current delivery, tolerance to overcharging, etc., are also augmenting the global market. Apart from this, numerous product innovations, including the launch of green ultra-batteries in the energy storage segment that assist in reducing carbon footprints, are anticipated to fuel the industrial batteries market over the forecasted period.
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Global Industrial Batteries Market 2022-2027 Analysis and Segmentation:
Competitive Landscape with Key Players:
The competitive landscape of the industry has also been examined along with the profiles of the key players being:
- Accumulatorenwerke HOPPECKE Carl Zoellner & Sohn GmbH
- Amara Raja Group
- American Battery Solutions
- Bulldog Battery Corporation
- C&D Technologies Inc.
- EnerSys
- Exide Industries Limited
- GS Yuasa Corporation
- Industrial Battery & Services Inc.
- Johnson Controls International
- Panasonic Corporation and Saft (TotalEnergies SE)
Breakup by Drive Type:
- Electric
- Hydraulic
- Others
Breakup by Technology:
- Lithium-Ion Battery
- Lead-Acid Battery
- Others
Breakup by Application:
- Forklift
- Telecom
- UPS
- Others
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key Highlights of the Report:
- Market Performance
- Market Outlook
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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