Global Gel Batteries Market 2018-2022
About this market
Rise in 4G subscription to drive growth in the gel batteries market. With the growing subscription of 4G users globally, the need for installation of new telecom towers will also increase. These factors will boost the demand for energy storage devices in telecommunication industry during the forecast period, thus driving growth in the gel batteries market. Technavio’s analysts have predicted that the gel batteries market will register a CAGR of more than 3% by 2022.
Increment in microgrids installation
As gel batteries are low maintenance batteries and provide longer quality services, they are well suited for operation in extreme temperatures. This will enhance the productivity and adoption of gel batteries. Thus, the deployment of gel batteries in microgrids act as one of the prominent factors in the growth of the global gel batteries market.
Increasing threat of substitutes
The gel batteries can be easily replaced by the AGM batteries and other flooded batteries due to the various advantages associated with these batteries such as cost effectiveness and better performance.
For the detailed list of factors that will drive and challenge the growth of the gel batteries market during the 2018-2022, view our report.
The market appears to be fragmented and with the presence of several companies including Narada Power and Trojan Battery the competitive environment is quite intense. Factors such as the increment in microgrids installation and the rise in 4G subscription, will provide considerable growth opportunities to gel batteries manufactures. East Penn Manufacturing, EnerSys, Exide Technologies, Leoch Battery, Narada Power, and Trojan Battery are some of the major companies covered in this report.
Technavio Announces the Publication of its Research Report – Global Gel Batteries Market 2018-2022
Technavio recognizes the following companies as the key players in the global gel batteries market: East Penn Manufacturing, EnerSys, Exide Technologies, Leoch Battery, Narada Power, and Trojan Battery.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is the rise in 4G subscription.”
According to the report, one of the major drivers for this market is the increment in microgrids installation.
Further, the report states that one of the major factors hindering the growth of this market is the increasing threat of substitutes.
East Penn Manufacturing
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