New York, Nov. 24, 2022 (GLOBE NEWSWIRE) -- According to our new research study on "Industrial Battery Market Solutions, Size, Share and Growth Forecasts to 2027 - Global Analysis and Forecasts by Type (Lead-acid Batteries, Lithium-based Batteries, Nickel-based Batteries, Others); Application (Telecom & Data Communication, Industrial Equipment, Uninterruptible Power Supply (Ups)/Backup, Mining, Marine, Others)," The industrial battery market size was valued at USD 12.50 Bn in 2019 to reach USD 21.89 Bn by 2027; it is expected to grow at a CAGR of 7.3% from 2020 to 2027.
Get Exclusive Sample Pages of Industrial Battery Market - COVID-19 Impact and Global Analysis with Strategic Insights at https://www.theinsightpartners.com/sample/TIPRE00009682
Global Industrial Battery Market - Report Scope:
| Market Size Value in | USD 12.50 Billion in 2019 |
| Market Size Value by | USD 21.89 Billion by 2027 |
| Growth rate | CAGR of 7.3% from 2020-2027 |
| Forecast Period | 2020-2027 |
| Base Year | 2020 |
| No. of Pages | 164 |
| No. of Tables | 60 |
| No. of Charts & Figures | 73 |
| Historical data available | Yes |
| Segments covered | Type ; Application /Backup |
| Regional scope | North America, Europe, Asia Pacific, Middle East & Africa, South & Central America |
| Country scope | US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
Global Industrial Battery Market: Competitive Landscape and Key Developments
Exide Technologies Inc., Enersys Inc., Saft Groupe S.A., GS Yuasa Corporation, LG Chem, Panasonic Corporation, Robert Bosch GmbH, East Penn Manufacturing Company, Saft Groupe SA, C&D Technologies, Inc., and General Electric Company are among the leading players profiled in the industrial battery market report. Several other essential market players were analyzed for a holistic view of the market and its ecosystem. The report provides detailed market insights, which help the key players strategize their growth. A few developments under industrial battery market are mentioned below:
In 2019: GE secured a contract to supply and integrate a grid-scale battery technology at the Solar River solar farm in South Australia.
In 2018: Robert Bosch announced the inauguration of its new R&D center in Suzhou, China. This new R&D center employs around 1,500 associates and focus majorly on manufacturing of mobility as well as connected solutions.
Inquiry Before Purchase: https://www.theinsightpartners.com/inquiry/TIPRE00009682
Growing Adoption of Electric Vehicles on Industrial Sector and Increasing Battery Innovation Initiatives by Key Players to Provide Lucrative Opportunities for Industrial Battery Market Growth During (2020-2027):
Industrial batteries are specially designed batteries that can operate under harsh industrial temperatures such as extreme temperatures, more vibrations, and heavy use. Industrial batteries perform batter and are designed to be more powerful. In the present market scenario, the companies are rigorously working towards the development of highly efficient batteries that caters to the varying industrial battery needs. The demand for energy storage systems in the market is also growing. The energy storage systems store energy during the off-peak time and use energy during peak times. Some of the major companies offering energy storage systems include GE Company, Samsung SDI, Exide, LG Chem, and Saft Batteries, among others. The demand for UPS is also growing across the industrial sector owing to the growing focus towards the safe down of the process during a power failure.
The industrial battery market growth is dominated by North America during the forecast period. Technological advancements have led to a highly competitive market in the region as the populations attract several technological developments due to high spending powers. Moreover, companies are continuously enhancing the overall business processes to meet the customer demand for high-quality products and services. The presence of various industry players such as Ametek Inc. and Crown Battery Manufacturing in North America is supporting regional growth. Adding to this, governments of countries such as the US and Canada are supporting the ongoing developments in the renewable energy sector. For instance, Canada adopted the Quebec Energy policy 2030 with a goal to build a sustainable economy with low carbon and energy-efficient solutions. Significant factors contributing to the market growth include declining lithium-ion battery prices, growing renewable sector, rapid adoption of electric vehicles, and increased sales of consumer electronics.
Speak to Research Expert - https://www.theinsightpartners.com/speak-to-analyst/TIPRE00009682
Global Industrial battery Market: Industry Overview
The industrial battery market has been segmented on the basis of type, application, and geography. Based on type, the industrial battery market is segmented into lead-acid batteries, lithium-based batteries, nickel-based batteries, and others. In terms of application, the industrial battery market is segmented into telecom and data communication, industrial equipment, uninterruptible power supply (Ups)/backup, grid-level energy storage, mining, marine, and others. Based on geography, the industrial battery market is segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM).
The industrial battery market in Asia Pacific is projected to witness impressive growth during 2018 – 2025. The factors such as the growing industrial equipment, mining, and marine industries, among others, in this region, stringent environmental regulations, and reduced labor costs associated with battery recycling are the factors boosting the APAC industrial battery market growth. Japan Portable Rechargeable Battery Recycle Centre (JBRC), a nonprofit organization, provides used battery collection boxes across the country for recycling. The increased production of Lithium-ion batteries is further driving the APAC industrial battery market. The manufacturing of lithium-ion industrial battery increased in the region mainly due to their capability to deliver superior performance relative to other rechargeable batteries, and less self-discharging rate. Asian battery manufacturers dominate the market due to the strong manufacturing base established in Asia, which later enabled quick scaling up of the production volume and further development and optimization of the technology.
Order a Copy of Industrial Battery Market Growth Report (2020-2027) at: https://www.theinsightpartners.com/buy/TIPRE00009682
Browse Adjoining Reports:
Battery Testing Equipment Market - The battery testing equipment market was valued at US$ 494.33 million in 2021 and is projected to reach US$ 682.98 million by 2028; it is estimated to grow at a CAGR of 4.7% from 2021 to 2028.
Battery Metals Market - The battery metals market is projected to reach US$ 32,251.1 million by 2028 from US$ 13,770.9 million in 2021; it is expected to grow at a CAGR of 12.9% from 2021 to 2028.
Battery Cyclers Market - The battery cyclers market size is valued US$ 208.14 million in 2022, it is expected to grow at a CAGR of 6.2% from 2022 to 2028
Battery Separators Market - The battery separators market is expected to grow from US$ 5.6 billion in 2022 and it is estimated to grow at a CAGR of 9.0% between 2022 and 2028.
Forklift Battery Market - The forklift battery market is expected to grow from US$ 4,816.54 million in 2021 and is projected to reach US$ 7,759.94 million by 2028; it is estimated to grow at a CAGR of 7.1% from 2021 to 2028.
Battery Recycling Market - The battery recycling market was valued at US$ 15,690.07 million in 2020 and is projected to reach US$ 36,002.73 million by 2028; it is expected to grow at a CAGR of 13.4% from 2020 to 2028.
Unmanned Traffic Management Market - The unmanned traffic management market is expected to grow from US$ 867.99 million in 2022; it is estimated to grow at a CAGR of 17.8% from 2022 to 2030.
Fire Pump Controllers Market - The fire pump controllers market is expected to grow from US$ 201.60 million in 2022; it is expected to grow at a CAGR of 6.2% from 2022 to 2028.
Factory Automation Market - The factory automation market is expected to grow from US$ 154.99 billion in 2022; it is estimated to grow at a CAGR of 8.2% from 2022 to 2028.
Collision Avoidance and Object Detection Maritime Market - The collision avoidance and object detection maritime market is projected to reach US$ 450.61 million in 2022; it is expected to grow at a CAGR of 8.2% during 2022-2028.
About Us:
The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.
Contact Us:
If you have any queries about this report or if you would like further information, please contact us:
Contact Person: Sameer Joshi
E-mail: sales@theinsightpartners.com
Phone: +1-646-491-9876
Press Release: https://www.theinsightpartners.com/pr/industrial-battery-market
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
