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Increasing demand for uninterruptible power supply and backup is a key factor driving the revenue growth of the market
— Emergence Research
VANCOUVER, BC, CANADA, June 22, 2022 /EINPresswire.com/ — The global industrial battery market size will reach US$17.0 billion in 2021 and is expected to register a revenue CAGR of 9.0% during the forecast period according to the latest analysis by Emerging Research .
Increasing demand for lithium-ion battery from automotive industry is a major factor driving the revenue growth of the market. The increasing demand for industrial batteries to power homes, buildings, and machinery and equipment on construction sites is also a factor driving the revenue growth of the market. South Australia, for example, is home to the largest installation of lithium-ion batteries and is powered by Tesla. It has a capacity of 100 megawatts, which supplies electricity to 30,000 homes. It has also announced 50%, which will increase its capacity to 150MW.
An emerging trend in large-scale battery storage is to deploy centralized batteries in a neighborhood to store the excess energy generated by locally distributed generation assets such as rooftop PV and others. These battery storage systems are connected to the distribution grid and can be controlled directly by the distribution grid operator.
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The global industrial battery market is highly consolidated due to the presence of a large number of companies in this industry. The report thoroughly discusses the current market standing of these companies, their past performance, demand and supply graph, production and consumption patterns, distribution network, distribution channels, and growth opportunities in the market. The report examines the strategic approach taken by key market players to expand their product offerings and strengthen their market position.
Major players in the market include EnerSys, Exide Industries Ltd., LG Chem, C&D Technologies, Inc., SK Innovation Co., Ltd., GS Yuasa International Ltd., Robert Bosch GmbH, SAMSUNG SDI Co., LTD., Solid Power, Inc., Amara Raja Group, Rolls Battery and Saft.
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Emergen Research has segmented the global industrial battery market based on product type, battery type, end use, and region:
Product Type Outlook (Revenue, $Bn; 2019-2030)
lithium ion
lead acid
nickel metal hydride
nickel cadmium
Other
Battery Type Outlook (Revenue, $Bn; 2019-2030)
Primary Battery
secondary battery
End Use Outlook (Revenue, $Bn; 2019-2030)
automobile
Telecom & Datacom
Grid-level energy storage
Power/Backup
Other
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Key highlights from the report
The nickel-metal hydride battery segment is expected to see a steady growth rate due to the content of less toxic metals compared to other batteries such as nickel-cadmium (Ni-Cad) and is currently being labeled as environmentally friendly. This type of battery has approximately 30% more capacity and requires less periodic training cycles, is easy to store and transport, and is not subject to government regulations.
Due to the high demand for rechargeable batteries with larger power capacity for powering electric vehicles (EVs), revenue of the automotive segment is expected to register a rapid growth rate during the forecast period.
In addition, automotive original equipment manufacturers (OEMs) are increasingly investing in the development of more advanced technologies, including but not limited to battery power capacity, production volume and factory upgrades, which is driving the segment’s revenue growth.
Key benefits of buying the Global Industrial Batteries Report:
Comprehensive analysis of the changing competitive landscape
Helps in decision making processes for the companies along with detailed strategic planning methods
The report offers an 8-year forecast and assessment of the global Industrial Batteries Market
Helps in understanding the key product segments and their estimated growth rate
In-depth analysis of market drivers, restraints, trends and opportunities
Comprehensive regional analysis of the global Industrial Batteries market
Extensive profiling of the most important stakeholders in the economy
Detailed analysis of the factors influencing the growth of the global Industrial Batteries market
Regional Analysis:
This section of the report provides valuable insights into the geographical segmentation of the Industrial Battery market, as well as estimating the current and future market valuations based on supply-demand dynamics and pricing structure of the leading regional segments. Furthermore, the growth prospects of each segment and sub-segment have been carefully detailed in the report.
The report classifies the global industrial battery market into various regions, including:
North America (USA, Canada)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Europe (UK, Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Middle East and Africa (Saudi Arabia, UAE, South Africa, Rest of MEA)
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Table of Contents
Chapter 1. Methodology & Sources
Chapter 2. Summary
Chapter 3. Key Findings
Chapter 4. Industrial Battery Market Segmentation and Impact Analysis
Chapter 5. Industrial Battery Market by Product Type, Insights and Trends, Revenue (Billion USD)
Chapter 6. Industrial Battery Market by Battery Type, Insights and Trends, Revenue (Billion USD)
Chapter 7. Industrial Battery Market by End-Use Insights and Trends, Revenue (Billion USD)
Chapter 8. Regional Outlook for Industrial Battery Market
Chapter 9. Competitive landscape
Chapter 10. Company Profiles
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About us:
At Emergen Research we believe in technological advances. We are a growing market research and strategy consulting firm with an extensive knowledge base of cutting-edge and potentially disruptive technologies that are expected to become more widespread over the next decade.
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emergence research
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Industrial Battery Market Trends, Growth, Forecast 2030
