Home Technology & Telecommunication Semiconductor Industrial Battery Market to 2027

Industrial Battery Market to 2027

Publisher: The Insight Partners
Publication Date: March, 2020
Technology & Telecommunication / Semiconductor
Pages: 164
Delivery Format: PDF

Global Analysis and Forecasts by Type (Lead-acid Batteries, Lithium-based Batteries, Nickel-based Batteries, Others); Application (Telecom & Data Communication, Industrial Equipment, Uninterruptible Power Supply (Ups)/Backup, Mining, Marine, Others)

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The global industrial battery market was valued at US$ 12,501.9 million in 2019 and is projected to reach US$ 21,893.5 million by 2027; it is expected to grow at a CAGR of 7.3% during 2020–2027.

The growing scope for industrial equipment, development of mining and marine sectors, stringent environmental regulations, and reduced labor costs associated with battery recycling in APAC are some of the significant factors boosting the Asia Pacific industrial battery market growth. Japan has a legislation requirement for batteries similar to that of Europe. Japan Portable Rechargeable Battery Recycle Centre (JBRC), is a non-profit organization that provides used battery collection boxes for recycling across the country. The production of lithium-ion industrial battery has increased in the region, owing to their capability to deliver superior performance with less self-discharging rate. The increased production of Lithium-ion batteries is further driving the industrial battery market in Asia Pacific. The presence of strong battery manufacturing base in Asia has enabled quick scaling up of the production volume and further development and optimization of the technology. The aforementioned factors are likely to propel the growth of the industrial battery market during the forecast period.

Despite growing community concern regarding the negative impact of waste lithium-ion batteries on the environment and public health, there is lack of appropriate policies and collection systems for used batteries in China. However, the importance of the raw materials, such as cobalt and nickel used in battery manufacturing, is creating awareness among the manufacturers and the government to regulate industrial battery properly.
The market for industrial battery is broadly segmented into type, application, and geography. Based on type, the industrial battery market is segmented into lead-acid batteries, lithium-based batteries, nickel-based batteries, and others. Based on applications, the industrial battery market is segmented into telecom & data communication, industrial equipment, uninterruptible power supply (Ups)/Backup, mining, marine, and others. Based on geography, the global industrial battery market is segmented into five regions—North America, Europe, Asia Pacific, Middle East & Africa, and South America.

Exide Technologies Inc., Enersys Inc., Saft Groupe S.A., GS Yuasa Corporation, LG Chem, Panasonic Corporation, Robert Bosch GmbH, East Penn Manufacturing Company, Saft Groupe SA, C&D Technologies, Inc., and General Electric Company are among the key players present in the global industrial battery market.

The overall size of global industrial battery market is analyzed using primary and secondary sources. The research process begins with extensive secondary research using internal and external sources to obtain qualitative and quantitative information related to the global industrial battery market. It also provides an overview and forecast for the industrial battery market based on all the segmentation provided for the global region. Also, primary interviews were conducted with industry participants and commentators to validate and analyze the data. The participants who take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers, and external consultants such as valuation experts, research analysts, and key opinion leaders specialized in industrial batteries.

Reasons to buy this report:
• Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the global industrial battery market
• Highlights key business priorities in order to assist companies to realign their business strategies
• The key findings and recommendations highlight crucial progressive industry trends in the global industrial battery market, thereby allowing players across the value chain to develop effective long-term strategies
• Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
• Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it
• Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution

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