A recent report published by
Infinium Global Research on the industrial batteries market provides in-depth
analysis of segments and sub-segments in the global as well as regional
industrial batteries market. The study also highlights the impact of drivers,
restraints, and macro indicators on the global and regional industrial
batteries market over the short term as well as long term. The report is a
comprehensive presentation of trends, forecast and dollar values of the global
industrial batteries market. According to the report, the global industrial
batteries market is projected to grow at a CAGR of 6.6% over the forecast
period of 2021-2027. The market grew from around USD 19 billion in 2021 to
nearly USD 29 billion in 2027.
batteries are designed in such a way that should last a far longer period of
time as compared to consumer batteries and are been used in more difficult
environments. They are been built to withstand a number of conditions that
consumer batteries would not be able to withstand. Industrial batteries are
made of average alkaline AAA, AA, C, D, 9-volt, or button-cell battery is made
of steel and a mix of zinc/manganese/potassium/graphite, with the remaining
balance made up of paper and plastic. Being non-toxic materials, all of these
battery ingredients can be recycled again. Compared with ordinary batteries, the
industrial batteries’ performance is far better or be designed to be more
powerful, but they will also sacrifice some of the performance. The battery is
designed to withstand heavy use and more vibration and possible temperature
outbreak had a significant impact on the energy materials and renewable
generation and conversion market which also includes battery-powered electric
vehicles, grid storage, and personal also electronic devices. Many countries
imposed travel restrictions on material flow in and out across the globe, which
significantly reduced the customer base for a large number of industrial
electric-powered tools. Due to lockdowns imposed by the government in various
countries trade and commerce got disrupted and the industrial batteries market
faced a slight decline for a particular time. As people were also being
restricted from moving out of their houses it affected the production activities
as the maximum supply chain of the industrial battery is connected with China
leading to negative production and sales.
growing telecommunication sector and the increasing demand for high storage
capacity backup batteries drive the market growth in the upcoming years.
Moreover, Industrial batteries are the primary source of power for a few
applications like automated machinery, robots, and light vehicles which boost
the growth of the market. The cost of lithium-ion or lithium-ion batteries is
very high which is hindering the market growth. Furthermore, few countries are imposing strict regulations related to toxic chemical usage
restricting the growth of the market. The advanced technologies that are been
used in industrial batteries by end-users and manufacturers are creating an
opportunity to rise the growth of the global market.
regions, Asia-Pacific accounted for the largest share in the global Industrial
Batteries market. Due to the rapidly growing industrialization in countries
like China and India and also coupled with the presence of manufacturing facilities.
Moreover, Lithium-ion batteries installed in electric vehicles tend to increase
the mobility of the vehicle and are anticipated to pose great prospects for the
Asia Pacific industrial batteries market to seek growth in the coming years.
However, the North American region is anticipated to grow at the highest rate
in the global Industrial Batteries market over the forecast period. Due to the
expansion in renewable power infrastructure and industrial production in this
region. Furthermore, the rising deployment of solar and wind
power infrastructure, which needs to be supported by energy storage systems is
being witnessed in this region.
The report on the global industrial
batteries market covers segments such as type, and end-user industry. On the
basis of type, the sub-markets include lead-acid, nickel-based, and
lithium-based. On the basis of end-user industry, the sub-markets include
telecom & data communication, uninterruptible power supply (UPS)/backup,
industrial equipment, and grid-level energy storage.
The report provides profiles of
the companies in the market such as Exide Technologies, Inc, Johnson Controls,
Inc, Enersys, Inc, Saft Groupe S.A, GS Yuasa Corp, Northstar Battery Company
LLC, C&D Technologies, Inc, Robert Bosch GmbH, East Penn Manufacturing Co,
and LG Chem.
The report provides deep insights
into the demand forecasts, market trends, and micro and macro indicators. In
addition, this report provides insights into the factors that are driving and
restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis
given in the report brings an insight into the investment areas that existing
or new market players can consider. The report provides insights into the
market using analytical tools such as Porter's five forces analysis and DRO
analysis of the industrial batteries market. Moreover, the study highlights current
market trends and provides forecast from 2021-2027. We also have highlighted
future trends in the market that will affect the demand during the forecast
period. Moreover, the competitive analysis given in each regional market brings
an insight into the market share of the leading players.