Industrial Batteries Market (Type - Lead-acid, Nickel-based, and Lithium-based; End-user Industry - Telecom & Data Communication, Uninterruptible Power Supply (UPS)/Backup, Industrial Equipment, and Grid-level Energy Storage): Global Industry Analysis, Trends, Size, Share and Forecasts to 2027

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.

Market Insight

Industrial 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 extremes.

The COVID-19 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.

The rapidly 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.

Among the 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.

Segment Covered

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.

Companies Profiled:

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.

Report Highlights:

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.