Industrial Battery Market Size & Share and Forecast 2028F

Summary

Report Description

Global Industrial Battery market is expected to grow at a robust pace in the forecast period 2024-2028, owing to continuous technological developments in the industrial battery sector, rising annual industrial battery deployment capabilities, and strict government restrictions put in place to curb rising pollution. Additionally, the market for industrial batteries is expected to rise as a result of the growing use of industrial batteries in applications like forklift power or backup power for data centers and telecom base stations and availability of raw materials like lead, lithium, and cobalt.

Industrial batteries are different kind of batteries that are made with a specific use in mind. Industrial batteries are built to resist a greater amount of vibration, heavy use, and a wide range of temperatures. Heavy machinery like forklifts, electric drills, and other industrial devices are often powered by industrial batteries. They can operate in conditions where a typical battery would fail since they are stronger than the usual battery. Industrial batteries have a wide range of applications, including monitoring the structural strains on bridges and taking seismic readings underwater.

Rise in Electricity Demand Propelling the Growth of Global Industrial Battery Market

The market is expanding as more industrial, commercial, and domestic tasks are becoming electrified. The demand for backup batteries with large storage capacities is increasing as a result of the telecommunications industry's quick expansion. For a few applications, including automated machinery, robotics, and light vehicles, industrial batteries serve as the principal source of power, which drives the market's expansion. The market for industrial batteries is expected to grow in demand as a result of the implementation of government regulations aimed at reducing carbon emissions. As people become more dependent on electrical appliances, the need for uninterrupted electrical power increases. Additionally, electrification is greatly preferred in emerging economies, and growing urbanization has a significant impact on global demand.

Expandable Use of Lithium-ion battery in the Renewable Energy Sector

Lead-acid, nickel-cadmium, and nickel-metal hydride batteries cannot compete with the electrochemical performance of lithium-ion batteries. In addition to higher power, excellent efficiency, and low self-discharge, these batteries have a long lifespan. They are mostly employed in energy storage systems that stored power produced by clean energy sources like solar and wind. The performance of lithium-ion batteries is being worked on by a number of market participants, which has made them a desirable option for stationary energy storage applications. Increased energy storage is made possible by lithium-ion energy storage systems, facilitating the integration of cheap wind and solar energy into networks. In turn, this decreases overall energy expenditures and cuts carbon dioxide emissions. The use of lithium-ion technology in utilities allows for 90% battery efficiency whereas in public utility applications, the use of advanced lead-acid batteries and flow batteries yield efficiencies of 80% and 70%, respectively.

As lithium-ion batteries are increasingly used in the renewable energy industry, there is an increase in the need for industrial batteries. All of these elements encourage the use of industrial batteries, which fuels the market's expansion.

Using Sterilization Pouches Would Result in Greater Healthcare Cost Reductions Thereby Driving the Growth of Global Industrial Battery Market

Market expansion is being fueled by the electrification of more and more domestic, commercial, and industrial tasks. The demand for backup batteries with substantial storage capacity is rising as a result of the telecommunications industry's quick expansion. Industrial batteries are the main power source for some applications, including automated machinery, robotics, and light vehicles, which is driving market expansion. Moreover, government carbon emission limits are anticipated to boost demand for lithium-ion batteries. As people's reliance on electronic gadgets develops, there is a rising demand for continuous electrical energy. Thus, these factors are expected to drive the demand for Global Industrial Battery Market.

Increasing the Usage of AI in Battery Manufacturing's R&D Phase is Expected to Boost the Global Industrial Battery Market

As the number of cycles, contemporary batteries can withstand has grown, the extension of battery life is seen as one of the most significant advancements in batteries in recent years. Manufacturers of batteries invest a lot of money in research and development to extend battery life. In March 2019, scientists from the Massachusetts Institute of Technology, Stanford University, and Toyota Research Institute announced the creation of a machine learning model that can accurately predict the battery's service life using artificial intelligence and extensive experimental data collection. Such applications of AI in battery R&D offer market participants numerous chances for expansion, which is projected to promote market growth in the near future.

Availability of Low-Cost Substitutes and Supply Disruptions are Expected to Hinder the Growth of Global Industrial Battery Market

Industrial batteries, like lead-acid batteries, have traditionally been the most economical technology. Lead-acid batteries are, however, losing ground to alternative battery technologies in terms of cost-effectiveness. Rechargeable batteries are being replaced by emerging alternative battery storage technologies such as supercapacitors, fuel cells, and flywheels powered by UPS. Flywheels and fuel cells are now being used for stationary and moving applications' power needs. Supercapacitors have also advanced to the point where they are appropriate for energy storage applications in the automobile industry, which are anticipated to grow.

Moreover, due to the regional concentration of raw materials for industrial batteries, metal deposits in nations like China and the Democratic Republic of Congo (DRC) raise the possibility of supply shortages in the event of any export restrictions. Thus, the above factors cause hindrance to the growth of Global Industrial Battery market.

Recent Developments

· The Chhattisgarh State Renewable Energy Development Agency (CREDA) issued a request for proposals in 2021 for the purchase of 15,000 low-maintenance lead-acid batteries with a five-year on-site warranty for solar applications of various capacities in the state. The buy-back option for used batteries is also included in the contract. The investment is expected to be around USD1.37 million.

· Nexcharge, a joint venture between Exide Industries of India and Leclanche SA of Switzerland, said in May 2022 that it would scale up output at its lithium-ion battery plant to 100% within four years. The battery manufacturing facility, which began mass production in May, is now functioning at 30% to 40% of its 1.5-Gigawatt hours (GWh) installed capacity. The plant, which also contains a cell testing lab, was built and set up with USD33 million in investment from Nexcharge.

· Alpine Power Systems, a provider of cutting-edge solutions for critical power, telecom, and motive power, announced in October 2022 that they had purchased Evergreen industrial batteries. The purchase was undertaken to bolster Alpine's already top-ranked programme for certified used and rental forklift batteries and chargers. Under the present ownership, this is Alpine's 24th acquisition. To expand on their national model, Alpine intends on bringing the entire talented Evergreen Team on board. The purchase of Evergreen's assets includes their sizable inventory of batteries and chargers, a 29,000 SF corporate location, as well as their cars, tooling, equipment, and other things.

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Market Segmentation

The Global Industrial Battery Market is segmented based on type, application, and region. Based on type, the market is bifurcated into lead-acid, lithium-based, and others. Based on application, the market is divided into telecommunication, power storages, industrial equipment, electric grid storage, and others. Based on region, the market is further divided into North America, Asia-Pacific, Europe, South America, Middle East & Africa.

Market players

The main market players in the Global Industrial Battery Market are C&D Technologies Pvt. Ltd, East Penn Manufacturing Company Inc., Enersys, Inc., Exide Industries Ltd, GS Yuasa Corporation, Amara Raja Batteries Ltd, Panasonic Corporation, Saft Groupe SA, East Penn Manufacturing Co., Robert Bosch GmbH

Attribute	Details
Base Year	2022
Historic Data	2018– 2022
Estimated Year	2023
Forecast Period	2024 – 2028
Quantitative Units	Revenue in USD Million and CAGR for 2018-2022 and 2023-2028
Report coverage	Revenue forecast, company share, growth factors, and trends
Segments Covered	Type Application Region
Regional scope	North America, Asia-Pacific, Europe, South America, Middle East & Africa
Country scope	United States, Canada, Mexico, China, India, Japan, South Korea, Australia, Germany, United Kingdom, France, Italy, Spain, Brazil, Argentina, Colombia, Saudi Arabia, South Africa, UAE
Key companies profiled	C&D Technologies Pvt. Ltd, East Penn Manufacturing Company Inc., Enersys, Inc., Exide Industries Ltd, GS Yuasa Corporation, Amara Raja Batteries Ltd, Panasonic Corporation, Saft Groupe SA, East Penn Manufacturing Co., Robert Bosch GmbH
Customization scope	10% free report customization with purchase. Addition or alteration to country, regional & segment scope.
Pricing and purchase options	Avail customized purchase options to meet your exact research needs. Explore purchase options
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

Report Scope:

In this report, Global Industrial Battery Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

o Industrial Battery Market, By type:

o Lead-Acid

o Lithium-Based

o Others

o Industrial Battery Market, By Application:

o Telecommunication

o Power Storages

o Industrial Equipment

o Electric Grid Storage

o Others

o Industrial Battery Market, By Region:

o North America

§ United States

§ Canada

§ Mexico

o Asia-Pacific

§ India

§ Japan

§ South Korea

§ Australia

§ China

o Europe

§ Germany

§ United Kingdom

§ France

§ Italy

§ Spain

o South America

§ Brazil

§ Argentina

§ Colombia

o Middle East

§ Saudi Arabia

§ South Africa

§ UAE

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Industrial Battery Market.

Available Customizations:

Global Industrial Battery Market report with the given market data, Tech Sci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

Detailed analysis and profiling of additional market players (up to ten).

The Global Industrial Battery Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]

Table of content

1. Product Overview

1.1. Market Definition

1.2. Scope of the Market

1.2.1. Markets Covered

1.2.2. Years Considered for Study

1.2.3. Key Market Segmentations

2. Research Methodology

2.1. Baseline Methodology

2.2. Key Industry Partners

2.3. Major Association and Secondary Sources

2.4. Forecasting Methodology

2.5. Data Triangulation & Validation

2.6. Assumptions and Limitations

3. Executive Summary

4. Voice of Customers

5. Global Industrial Battery Market

5.1. Market Size & Forecast

5.1.1. By Value

5.2. Market Share & Forecast

5.2.1. By Type (Lead-Acid, Lithium-Based and Others)

5.2.2. By Application (Telecommunication, Power Storages, Industrial Equipment, Electric Grid Storage and Others)

5.2.3. By Region

5.3. By Company (2022)

5.4. Market Map

6. North America Industrial Battery Market Outlook

6.1. Market Size & Forecast

6.1.1. By Value

6.2. Market Share & Forecast

6.2.1. By Type

6.2.2. By Application

6.2.3. By Country

6.3. North America: Country Analysis

6.3.1. United States Industrial Battery Market Outlook

6.3.1.1. Market Size & Forecast

6.3.1.1.1. By Value

6.3.1.2. Market Share & Forecast

6.3.1.2.1. By Type

6.3.1.2.2. By Application

6.3.2. Canada Industrial Battery Market Outlook

6.3.2.1. Market Size & Forecast

6.3.2.1.1. By Value

6.3.2.2. Market Share & Forecast

6.3.2.2.1. By Type

6.3.2.2.2. By Application

6.3.3. Mexico Industrial Battery Market Outlook

6.3.3.1. Market Size & Forecast

6.3.3.1.1. By Value

6.3.3.2. Market Share & Forecast

6.3.3.2.1. By Type

6.3.3.2.2. By Application

7. Asia-Pacific Industrial Battery Market Outlook

7.1. Market Size & Forecast

7.1.1. By Value

7.2. Market Share & Forecast

7.2.1. By Type

7.2.2. By Application

7.2.3. By Country

7.3. Asia-Pacific: Country Analysis

7.3.1. China Industrial Battery Market Outlook

7.3.1.1. Market Size & Forecast

7.3.1.1.1. By Value

7.3.1.2. Market Share & Forecast

7.3.1.2.1. By Type

7.3.1.2.2. By Application

7.3.2. India Industrial Battery Market Outlook

7.3.2.1. Market Size & Forecast

7.3.2.1.1. By Value

7.3.2.2. Market Share & Forecast

7.3.2.2.1. By Type

7.3.2.2.2. By Application

7.3.3. Japan Industrial Battery Market Outlook

7.3.3.1. Market Size & Forecast

7.3.3.1.1. By Value

7.3.3.2. Market Share & Forecast

7.3.3.2.1. By Type

7.3.3.2.2. By Application

7.3.4. South Korea Industrial Battery Market Outlook

7.3.4.1. Market Size & Forecast

7.3.4.1.1. By Value

7.3.4.2. Market Share & Forecast

7.3.4.2.1. By Type

7.3.4.2.2. By Application

7.3.5. Australia Industrial Battery Market Outlook

7.3.5.1. Market Size & Forecast

7.3.5.1.1. By Value

7.3.5.2. Market Share & Forecast

7.3.5.2.1. By Type

7.3.5.2.2. By Application

8. Europe Industrial Battery Market Outlook

8.1. Market Size & Forecast

8.1.1. By Value

8.2. Market Share & Forecast

8.2.1. By Type

8.2.2. By Application

8.2.3. By Country

8.3. Europe: Country Analysis

8.3.1. Germany Industrial Battery Market Outlook

8.3.1.1. Market Size & Forecast

8.3.1.1.1. By Value

8.3.1.2. Market Share & Forecast

8.3.1.2.1. By Type

8.3.1.2.2. By Application

8.3.2. United Kingdom Industrial Battery Market Outlook

8.3.2.1. Market Size & Forecast

8.3.2.1.1. By Value

8.3.2.2. Market Share & Forecast

8.3.2.2.1. By Type

8.3.2.2.2. By Application

8.3.3. France Industrial Battery Market Outlook

8.3.3.1. Market Size & Forecast

8.3.3.1.1. By Value

8.3.3.2. Market Share & Forecast

8.3.3.2.1. By Type

8.3.3.2.2. By Application

8.3.4. Spain Industrial Battery Market Outlook

8.3.4.1. Market Size & Forecast

8.3.4.1.1. By Value

8.3.4.2. Market Share & Forecast

8.3.4.2.1. By Type

8.3.4.2.2. By Application

8.3.5. Italy Industrial Battery Market Outlook

8.3.5.1. Market Size & Forecast

8.3.5.1.1. By Value

8.3.5.2. Market Share & Forecast

8.3.5.2.1. By Type

8.3.5.2.2. By Application

9. South America Industrial Battery Market Outlook

9.1. Market Size & Forecast

9.1.1. By Value

9.2. Market Share & Forecast

9.2.1. By Type

9.2.2. By Application

9.2.3. By Country

9.3. South America: Country Analysis

9.3.1. Brazil Industrial Battery Market Outlook

9.3.1.1. Market Size & Forecast

9.3.1.1.1. By Value

9.3.1.2. Market Share & Forecast

9.3.1.2.1. By Type

9.3.1.2.2. By Application

9.3.2. Argentina Industrial Battery Market Outlook

9.3.2.1. Market Size & Forecast

9.3.2.1.1. By Value

9.3.2.2. Market Share & Forecast

9.3.2.2.1. By Type

9.3.2.2.2. By Application

9.3.3. Colombia Industrial Battery Market Outlook

9.3.3.1. Market Size & Forecast

9.3.3.1.1. By Value

9.3.3.2. Market Share & Forecast

9.3.3.2.1. By Type

9.3.3.2.2. By Application

10. Middle East & Africa Industrial Battery Market Outlook

10.1. Market Size & Forecast

10.1.1. By Value

10.2. Market Share & Forecast

10.2.1. By Type

10.2.2. By Application

10.2.3. By Country

10.3. Middle East & Africa: Country Analysis

10.

10.1.

10.2.

10.3.

10.3.1. Saudi Arabia Industrial Battery Market Outlook

10.3.1.1. Market Size & Forecast

10.3.1.1.1. By Value

10.3.1.2. Market Share & Forecast

10.3.1.2.1. By Type

10.3.1.2.2. By Application

10.3.2. South Africa Industrial Battery Market Outlook

10.3.2.1. Market Size & Forecast

10.3.2.1.1. By Value

10.3.2.2. Market Share & Forecast

10.3.2.2.1. By Type

10.3.2.2.2. By Application

10.3.3. UAE Industrial Battery Market Outlook

10.3.3.1. Market Size & Forecast

10.3.3.1.1. By Value

10.3.3.2. Market Share & Forecast

10.3.3.2.1. By Type

10.3.3.2.2. By Application

11. Market Dynamics

11.1. Drivers

11.2. Challenges

12. Market Trends & Developments

13. Company Profiles

13.1. C&D Technologies Pvt. Ltd

13.1.1. Business Overview

13.1.2. Key Revenue and Financials

13.1.3. Recent Developments

13.1.4. Key Personnel

13.1.5. Key Product/Services Offered

13.2. East Penn Manufacturing Company Inc.

13.2.1. Business Overview

13.2.2. Key Revenue and Financials

13.2.3. Recent Developments

13.2.4. Key Personnel

13.2.5. Key Product/Services Offered

13.3. Enersys, Inc.

13.3.1. Business Overview

13.3.2. Key Revenue and Financials

13.3.3. Recent Developments

13.3.4. Key Personnel

13.3.5. Key Product/Services Offered

13.4. Enersys, Inc.

13.4.1. Business Overview

13.4.2. Key Revenue and Financials

13.4.3. Recent Developments

13.4.4. Key Personnel

13.4.5. Key Product/Services Offered

13.5. Exide Industries Ltd

13.5.1. Business Overview

13.5.2. Key Revenue and Financials

13.5.3. Recent Developments

13.5.4. Key Personnel

13.5.5. Key Product/Services Offered

13.6. GS Yuasa Corporation

13.6.1. Business Overview

13.6.2. Key Revenue and Financials

13.6.3. Recent Developments

13.6.4. Key Personnel

13.6.5. Key Product/Services Offered

13.7. Amara Raja Batteries Ltd

13.7.1. Business Overview

13.7.2. Key Revenue and Financials

13.7.3. Recent Developments

13.7.4. Key Personnel

13.7.5. Key Product/Services Offered

13.8. Panasonic Corporation

13.8.1. Business Overview

13.8.2. Key Revenue and Financials

13.8.3. Recent Developments

13.8.4. Key Personnel

13.8.5. Key Product/Services Offered

13.9. Panasonic Corporation

13.9.1. Business Overview

13.9.2. Key Revenue and Financials

13.9.3. Recent Developments

13.9.4. Key Personnel

13.9.5. Key Product/Services Offered

13.10. Saft Groupe SA

13.10.1. Business Overview

13.10.2. Key Revenue and Financials

13.10.3. Recent Developments

13.10.4. Key Personnel

13.10.5. Key Product/Services Offered

14. Strategic Recommendations

15. About Us & Disclaimer

Figures and Tables

Frequently asked questions

What is an Industrial Battery?

Industrial batteries are electrochemical systems that, during discharge, change higher-level active materials into a different state. They typically transform chemical energy into electricity.

What are the challenges in Global Industrial Battery Market?

Industrial batteries are created using toxic organic compounds. The majority of nations have stringent laws in place surrounding these chemicals, which is what keeps the market for industrial batteries from expanding. This element is making the market for industrial batteries more difficult.

Who are the major market players in the Global Industrial Battery Market?

Major market players are C&D Technologies Pvt. Ltd, East Penn Manufacturing Company Inc., Enersys, Inc., Exide Industries Ltd, GS Yuasa Corporation, Amara Raja Batteries Ltd, Panasonic Corporation, Saft Groupe SA, East Penn Manufacturing Co., Robert Bosch GmbH.

Which is expected to be the dominating region in the Global Industrial Battery Market?

Asia-Pacific is expected to be the dominant region during the forecast period, owing to demand in this field as a result of rapid industrialization and the growth of the IT industry. Additionally, a number of factors, including rising demand for energy storage solutions, rising adoption of renewable energy sources, and expansion of the region's manufacturing industry, are expected to contribute to the significant growth of the industrial batteries market in the Asia-Pacific region.

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Account Manager BD

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Press Release

Industrial Battery Market is Expected to Grow at a Robust CAGR

Aug, 2023

Global Industrial Battery Market is expected to grow owing to increasing demand from data centers & telecom sector and rising renewable energy integration, globally, throughout the forecast period.

Industrial Battery Market – Global Industry Size, Share, Trends, Opportunity, and Forecast. Segmented By Type (Lead-Acid, Lithium-Based and Others), By Application (Telecommunication, Power Storages, Industrial Equipment, Electric Grid Storage and Others), By Region, Competition. 2018-2028F

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