Global Industrial batteries Market, By Type (Lead-Acid, Nickel-Based, Lithium-Based, Others), End-User Industry (Telecom and Data Communication, Uninterruptible Power Supply (UPS)/Backup, Grid-Level Energy Storage, Industrial Equipment, Others) – Industry Trends and Forecast to 2029
Market Analysis and Size
Traditional batteries were primarily used in consumer electronics in the 1990s and early 2000s, but industrial batteries are now powering a variety of end-use applications such as grid storage and uninterrupted power systems. Industrial batteries are used in remote, difficult-to-reach areas where equipment/devices must be self-powered and battery recharging and replacement is difficult or impossible.
Data Bridge Market Research analyses that the Industrial batteries market was valued at USD 10.56 billion in 2021 and is likely to reach USD by 18.28 by 2029, and is expected to grow at a CAGR of 7.10% during the forecast period of 2022 to 2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and climate chain scenario.
Market Definition
Industrial batteries are intended to provide energy to electric vehicles as well as lifting material and heavy equipment such as forklifts and trucks. These batteries also serve as a power source for various data centres, allowing for continuous internet access. They're used in a variety of applications, including power storage, electric grid storage, telecommunications, and industrial machinery.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2019 - 2014)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Type (Lead-Acid, Nickel-Based, Lithium-Based, Others), End-User Industry (Telecom and Data Communication, Uninterruptible Power Supply (UPS)/Backup, Grid-Level Energy Storage, Industrial Equipment, Others)
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Countries Covered
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U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa
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Market Players Covered
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Johnson Controls, Inc. (U.S), Exide Technologies, Inc. (India), Enersys, Inc. (France), Saft Groupe S.A. (Japan), GS Yuasa Corp. (Japan), Northstar Battery Company LLC (U.S), C&D Technologies, Inc. (India), Robert Bosch GmbH (Germany), East Penn Manufacturing Co. (China), Toshiba International Corporation (Japan)
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Market Opportunities
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Industrial batteries Market Dynamics
This section deals with understanding the market drivers, opportunities, restraints and challenges. All of this is discussed in detail as below:
- Increasing application from various end user industries
Increasing applications of lithium ion batteries, rising government initiatives for the adoption of clean energy resources, rising demand for electric vehicles, and the introduction of grid-connected solutions that will provide continuous power supply are some of the factors that will drive the growth of the industrial batteries market.
- Rise in data and telecom companies
Rising data centre and telecom industry growth will create new growth opportunities for the industrial batteries market during the forecast period.
Restraints
The requirement for large capital investments, as well as safety concerns associated with battery usage, will act as a market restraint for the growth of industrial batteries during the forecast period. Compresses energy storage, pumped hydro technology, and chemical energy storage will be the most difficult challenges to market growth.
Opportunities
- Increasing battery innovation initiatives by market players
There significant rise in the R&D initiatives by battery manufacturers for increasing different battery chemistries. Market players are focusing on modernizing batteries based on lithium-ion technology. Though lithium-ion batteries are precisely advanced and have longer life, then also not many manufacturers produce these batteries. Developing economies such as India imports these batteries and has no domestic manufacturer. However, many manufacturers are now financing on launching new products.
This Industrial batteries market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the Industrial batteries market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Industrial Batteries Market
The industrial battery market has been slightly depressed for some time as a result of the sudden outbreak of COVID-19 and trade and commerce restrictions. The majority of the industrial battery supply chain is linked with China, resulting in negative production and sales in the first two quarters of the pandemic situation. Furthermore, the purchasing power of people in the fastest-growing economies is having a negative impact on the market.
Recent Development
- In October 2021, Samsung SDI and Stellantis N.V. announced a memorandum of understanding (MOU) to form a joint venture (JV) to manufacture battery cells and modules in North America. It intends to begin construction in 2025. The plant is expected to have an initial annual production capacity of 23 gigatonne-hours, with the potential to expand to 40 gigatonne-hours in the future.
- The Chhattisgarh State Renewable Energy Development Agency (CREDA) invited bids in June 2021 for a tender to purchase 15,000 low-maintenance lead-acid batteries with a five-year on-site warranty for use in solar applications of various capacities. The contract was valued at approximately USD 1.37 million.
Global Industrial batteries Market Scope
The industrial batteries market is segmented on the basis of type and end user industry. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Type
- Lead Acid
- Nickel Based
- Lithium Based
- Others
End-User Industry
- Telecom and Data Communication
- Uninterruptible Power Supply (UPS)/Backup
- Grid-level Energy Storage
- Industrial Equipment
- Others
Industrial batteries Market Regional Analysis/Insights
The industrial batteries market is analysed and market size insights and trends are provided by country type and end user industry as referenced above.
The countries covered in the Industrial batteries market report are U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa.
North America dominates the industrial batteries market due to the United States' large market share and increasing production of electric grid storages.
On the other hand, the Asia-Pacific region is expected to have the highest growth rate during the forecast period of 2022 to 2029 due to the rising popularity of industrial batteries as well as the growth of the electrical industry.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Industrial batteries Market Share Analysis
The industrial batteries market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to Industrial batteries market.
Some of the major players operating in the industrial batteries market are:
- Johnson Controls, Inc. (U.S)
- Exide Technologies, Inc. (India)
- Enersys, Inc. (France)
- Saft Groupe S.A. (Japan)
- GS Yuasa Corp. (Japan)
- Northstar Battery Company LLC (U.S)
- C&D Technologies, Inc. (India)
- Robert Bosch GmbH (Germany)
- East Penn Manufacturing Co. (China)
- Toshiba International Corporation (Japan)
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