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Industrial Battery Market Segmentation by Technology (Lithium-Ion Battery, Lead-Acid Battery, and Others); and by End User (Forklift, Telecom, UPS, and Others) – Global Demand Analysis & Opportunity Outlook 2030

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Extensive insights into the Growth of Industrial Battery Market amidst COVID-19

Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.

Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.

We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.

In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months.                                                         Request Insights

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IN THE NEWS

·   November 2018- Johnson Controls and Toshiba joined forces for delivering low-voltage lithium-ion solutions to meet automaker demands for lower costs, less complexity and improved efficiency. 

Global Industrial Battery Market Highlights 2022 – 2030

The global industrial battery market is estimated to garner a hefty amount of revenue and grow at a CAGR of ~8% over the forecast period, i.e., 2022 – 2030. The growth of the market can be attributed to the rising demand for industrial battery from data centers and telecom industry, increasing renewable energy integration around the world, and significant reduction in the prices of lithium-ion battery. As per the International Energy Agency, the demand for renewable energy use increased by 3 percent in 2020. In addition, there was a 7 percent increase in electricity generated from renewables that same year. Along with these, growing emphasis on technologically advanced batteries by manufacturers and end users is expected to create ample opportunities for battery companies to invest and redirect their resources to make a breakthrough battery technology. Furthermore, ongoing technological advancements in industrial battery industries and increase in the annual capacities for industrial batteries, are also projected to drive growth to the market in the forthcoming years. 

Industrial Battery Market

The market is segmented by technology into lithium-ion battery, lead-acid battery, and others, out of which, the lithium-ion battery segment is anticipated to hold the largest share in the global industrial battery market on account of the better performance, low price and higher energy density of these batteries as compared to other available alternatives. In addition, surge in the demand for lithium-ion batteries to fulfill the massive increase in the energy requirements is also assessed to boost the growth of the market segment in the future. Moreover, on the basis of end user, the telecom segment is projected to occupy the largest share during the forecast period, which can be credited to the rapid growth in the telecom industry since the last few years and rise in demand for high efficiency power backup. CLICK TO DOWNLOAD SAMPLE REPORT

Major Macro-Economic Indicators Impacting the Market Growth

Electricity Consumption

In 2018, the world’s total energy supply was 14282 Mtoe, wherein the highest share in terms of source was captured by oil, accounting for 31.6%, followed by coal (26.9%), natural gas (22.8%), biofuels and waste (9.3%), nuclear (4.9%), hydro (2.5%), and other (2.0%). Where there was an increase in energy demand in 2018, the year 2019 witnessed slow growth as the energy efficiency improved owing to decline in the demand for cooling and heating. However, in 2020, the electricity demand decreased by 2.5% in the first quarter of 2020 due to the outbreak of Coronavirus resulting in government imposed shutdowns in order to limit the spread of the virus, which was further followed by shutdown of numerous business operations impacting their growth. This also resulted in decline of 5.8% in the worldwide CO2 emissions which was recorded to be five times larger than the one recorded during the global financial crisis in 2009. However, in 2021, the demand for oil, gas and coal is estimated to witness growth, which is further projected to create opportunities for market growth. Moreover, rising environment degradation and awareness related to climate change is motivating many key players to employ sustainable energy strategies and invest significantly in environment-friendly power generation technologies with an aim to promote sustainable development among various nations around the world. Such factors are anticipated to promote the growth of the market in upcoming years.

Global Industrial Battery Market Regional Synopsis

On the basis of geographical analysis, the global industrial battery market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in the Asia Pacific is estimated to gather the most significant share over the forecast period on the back of the increase in civil infrastructure activities in China, India and Australia, and robust growth of industrial base in the region. Apart from these, rising number of government initiatives for industrial establishments is also expected to drive the region’s market growth in the years to come. Additionally, the market in North America is also predicted to grab a notable share, which can be ascribed to the robust growth of automobile industry in the United States, high manufacturing throughput and strong presence of major market players in the region.

The global industrial battery market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
  • Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis

Market Segmentation

Our in-depth analysis of the global industrial battery market includes the following segments:

By Technology

  • Lithium-Ion Battery
  • Lead-Acid Battery
  • Others

By End User

  • Forklift
  • Telecom
  • UPS
  • Others

Growth Drivers

  • Rising Demand for Industrial Battery from Data Centers and Telecom Industry
  • Increasing Renewable Energy Integration Around the World

Challenges

  • Fluctuation in the Prices of Raw Materials

Top Featured Companies Dominating the Market

  • GS Yuasa Corp.
    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis
  • Johnson Controls, Inc.
  • Exide Technologies, Inc.
  • Enersys, Inc.
  • Northstar Battery Company LLC
  • C&D Technologies, Inc.
  • Robert Bosch GmbH
  • Saft Groupe S.A.
  • East Penn Manufacturing Co.
  • Exide Industries Limited

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