Industrial Batteries Market Trend, Share, Growth, Size, Analysis and Forecast 2030

Industrial Batteries Market

Industrial Batteries Market End-User (Uninterruptible Power Supply or Backup, Telecom & Data Communication, Industrial Equipment, Grid-Level Energy Storage, and Others), and Types (Nickel-Based Batteries, Lead-Acid Batteries, Lithium-Based Batteries, and Others): Global Industry Perspective, Comprehensive Analysis and Forecast, 2020 – 2026

Category: Heavy Industry Report Format : PDF Pages: 110 Report Code: ZMR-824 Published Date: Dec-2020 Status : Published

Global demand for Industrial Batteries market was $18.03 Billion in 2019 and is predicted to reach $26.84 Billion by 2026, increasing at a CAGR of 5.9%.

Global Industrial Batteries Market: Overview

According to the report published by Zion Market Research, global demand for the Industrial Batteries market was valued at approximately USD 18.03 Billion in 2019 and is expected to generate revenue of around USD 26.84 Billion by end of 2026, growing at a CAGR of around 5.9% between 2020 and 2026.

An industrial battery is any battery that is designed exclusively only for industrial uses. These batteries are used in electric vehicles to transport, lift, or move materials to warehouses. The main function of industrial batteries is to supply energy to end-users. These batteries are used in industries for lifting heavy equipment such as trucks, forklift batteries, and others. Industrial batteries act as an energy source for massive data centers and ensure the running of the internet continuously. They are heavier, large in size, and more powerful as compared to consumer batteries. Industrial batteries offer applications such as backup power, energy regulation, and operating power.

Global Industrial Batteries Market: Growth Factors

Consumer inclination towards green and clean energy and government support for strict regulations for environment conservation are major growth factors of the global industrial batteries market. In addition, the recyclability of the batteries may also influence the global market in the coming years. Grid-connected solutions are increasingly adopted for uninterruptable power supply showing significant growth in the future. Moreover, lithium-ion batteries are broadly used in many applications, which are further anticipated to witness growth in the next few years. However, safety issues related to battery usage and the huge initial capital investment required are major restraining factors of the global industrial batteries market growth.

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Global Industrial Batteries Market: Segmentation

The global industrial batteries market is categorized based on end-user as an uninterruptible power supply or backup, telecom & data communication, industrial equipment, grid-level energy storage, and others. Of these, telecom & data communication is the leading segment in the global market. This segment is attributed to higher growth due to escalating demand for high-efficiency power backups. Based on types, the global industrial batteries market is segmented as nickel-based batteries, lead-acid batteries, lithium-based batteries, and others. Of these, the lead-acid battery is the largest segment across the globe and is projected to be the fastest-growing segment in the near future. They are globally accepted owing to low emission, increased life, and recyclability.

Region-wise, the global market is segregated into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

Global Industrial Batteries Market: Regional Analysis

Geographical segments include North America, Europe, Asia-Pacific, Latin America, and the Middle East. Asia-Pacific is expected to witness growth in the industrial batteries market in the near future due to the increasing adoption of batteries in this region. However, emerging markets such as South Korea, China, and Japan are major markets for industrial batteries, which are expected to boost the global market growth. Rising government support for renewable energy devices and increasing demand for industrial batteries are anticipated to boost the global industrial batteries market in the near future in the Asia Pacific region.

Global Industrial Batteries Market: Competitive Players

Some main participants in the Industrial Batteries market are GS Yuasa Corporation, East Penn Manufacturing Company, Robert Bosch GmbH, Enersys Inc., and Northstar Battery Company LLC. Other players influencing the global market are Saft Groupe S.A., C&D Technologies, Inc., Johnson Controls Inc., and Exide Technologies Inc., among others.

Industrial Batteries Market: Regional Segment Analysis

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of The Middle East & Africa

Table Of Content

Methodology

FrequentlyAsked Questions

Consumer inclination towards green and clean energy and government support for strict regulations for environment conservation are major growth factors of the global industrial batteries market.

According to Zion Market Research, global demand for Industrial Batteries market is expected to generate revenue of around USD 26.84 Billion by end of 2026, growing at a CAGR of around 5.9% between 2020 and 2026.

Asia-Pacific is expected to witness growth in the industrial batteries market in the near future due to increasing adoption of batteries in this region.

Some main participants of the Industrial Batteries market are GS Yuasa Corporation, East Penn Manufacturing Company, Robert Bosch GmbH, Enersys Inc., and Northstar Battery Company LLC. Other players influencing the global market are Saft Groupe S.A., C&D Technologies, Inc., Johnson Controls Inc., and Exide Technologies Inc., among others.

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