Gel Battery Market by Type (2V, 6V, and12V) and Application (Electric Mobility, Energy Storage & Distribution, Telecommunication, and Others): Global Opportunity Analysis and Industry Forecast, 2020-2027
The global gel battery market was valued at $1.8 billion in 2019, and is projected to reach $2.6 billion by 2027, growing at a CAGR of 4.2% from 2020 to 2027.
A gel battery is one of the types of valve regulated lead acid (VRLA) battery. It is maintenance free, as well as versatile. Gel battery produces less fumes and can be used in applications without much ventilation. The electrolyte in the gel battery comprises a silica additive. Its recharge voltages are less than the other kind of lead acid batteries.
The gel battery market is driven by its numerous favorable characteristics such as less maintenance, leak proof, excellent operational ability in different temperature range, no terminal corrosion, and others. However, availability of alternative and sensitivity to overcharging are some of the factors expected to hinder the market growth during the forecast period. Lithium-ion battery and absorbent glass mat (AGM) battery are some of the major competition for gel battery market. On the contrary, countries in the developing regions cannot afford lithium-ion batteries, owing to its high prices as compared to gel batteries, which is expected to propel the market growth and provide lucrative opportunity during the forecast period.
The global gel battery market is segmented into type, application, and region. Depending on type, the market is classified into 2V, 6V, and 12V. By application, it is fragmented into electric mobility, energy storage & distribution, telecommunication, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
KEY BENEFITS FOR STAKEHOLDERS
The report provides an extensive qualitative and quantitative analysis of the current trends and future estimations of the market from 2020 to 2027 determine the prevailing opportunities.
A comprehensive analysis of the factors that drive and restrict the growth of the market is provided.
The market size is provided in terms of revenue.
Porter’s five forces analysis helps analyze the potential of buyers & suppliers and the competitive scenario of the industry for strategy building.
Profiles of leading players operating in the market are provided to understand the competitive scenario.
The report provides extensive qualitative insights on the significant segments and regions exhibiting favorable growth.
KEY MARKET SEGMENTS-
Energy Storage & Distribution
Rest of Europe
Rest of Asia-Pacific
Rest of LAMEA
KEY MARKET PLAYERS
Exide Technologies (Exide)
BSB Power Company Limited.
Leoch International Technology Limited Inc.
Power Sonic Corporation (PS Corporation)
Storage Battery Systems, LLC (SBS LLC)
Canbat Technologies Inc. (Canbat)
C&D Technologies, Inc., (C&D)
JYC Battery Manufacturing Co., Ltd.
B.B. TECH (Changsha) Co., Ltd. (B.B. TECH)
Vision Group (Vision)
The other players in the value chain include Coslight India Telecom Pvt. Ltd., Dynavolt Renewable Energy Technology Co., Ltd., Exide Industries Limited, Microtex Energy Private Limited, The Furukawa Battery CO., LTD., KAYO Battery (Shenzhen) Company Limited, Jayachandran Industries (P) Ltd, AGM Technology, Suntech Batteries, Chilwee Group CO., LTD, and others.
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