Global Industrial Batteries Market is valued approximately USD 9 billion in 2018 and is anticipated to grow with a healthy growth rate of more than 6.50 % over the forecast period 2019-2026. Industrial batteries are electrochemical devices that change high level active materials into an alternative state during expulsion or discharge. They are heavier, large in size, and more powerful as compared to consumer batteries. The global industrial batteries market is categorized based on end-user as an uninterruptible power supply or backup in end use industries. The growth of the market can be mainly attributed to the rising Demand for Grid-Connected Solutions for Uninterruptable Power Supply, High Requirement of Lithium-Ion Batteries in Various Applications and Government Incentives for Clean Energy Sources and Adoption of Electric Vehicles. These batteries are widely used in electric vehicles, growing sales of electric vehicles is contributing towards market growth. Lithium ion (Li-ion) batteries are considered to be the standard for modern battery electric vehicles. It has been estimated that global electric vehicles sales totaled about 312,000 in Q1 2018, an increase of 58% compared to Q1 2017, as per the Edison Electric Institute. Also, it is estimated that number of electric on the road in the United States, is about 8,90,000 in 2018, up from number of electric vehicles of approximately 6,00,000 in 2017. Furthermore, High Demand from Datacenters and Telecom Companies is expected to create significant growth opportunity in the market over the forecast period. However, safety related issues coupled with stringent government regulations on use of toxic chemicals is expected to hamper the growth of the market over the forecast period of 2019-2026.
The regional analysis of global Industrial Batteries market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the growing production of electric grid storage coupled with increasing expenditure on research activities. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2019-2026. Factors such as rapid urbanization, increasing disposable income, increasing industrial activities and demand for high capacity power backup would create lucrative growth prospects for the Industrial Batteries market across Asia-Pacific region.
Major market player included in this report are:
- Johnson Controls Inc.
- Exide Technologies Inc.
- Enersys Inc.
- Saft Groupe S.A.
- GS Yuasa Corporation
- Northstar Battery Company LLC
- C&D Technologies, Inc.
- Robert Bosch GmbH
- East Penn Manufacturing Company
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By End-User Industry:
- Telecom & Data Communication
- Uninterruptible Power Supply (UPS)/Backup
- Grid-Level Energy Storage
- Industrial Equipment
- North America
- Asia Pacific
- Latin America
- Rest of the World
Furthermore, years considered for the study are as follows:
- Historical year – 2016, 2017
- Base year – 2018
- Forecast period – 2019 to 2026
Target Audience of the Global Industrial Batteries Market in Market Study:
- Key Consulting Companies & Advisors
- Large, medium-sized, and small enterprises
- Venture capitalists
- Value-Added Resellers (VARs)
- Third-party knowledge providers
- Investment bankers