About the Genset Battery Market
Growing urbanization and industrialization have resulted in high demand for power. Industries are rapidly adopting gensets to ensure continuous supply of electric power to facilitate smooth business operations. Usually, the start function of a genset is battery operated. An installed battery charger keeps the battery charged by ensuring the supply of precise float voltage. If the float voltage is low, the battery will remain undercharged. If it is high, then there is a possibility of shortened battery life.
In order to function effectively, genset batteries must have higher power density, long service life quick recharge capability, and low rate of self-discharge. These attributes allow the crank power to start gensets at lower temperatures. Vendors worldwide are manufacturing batteries that offer efficient cranking power.
Technavio’s analysts forecast the global genset battery market to grow at a CAGR of 7.25% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global genset battery market for 2016-2020. To calculate the market size, the report considers the global demand for generator batteries from various end-user applications.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Genset Battery Market 2016-2020
Technavio recognizes the following companies as the key players in the global genset battery market: Cummins, Eaton, EnerSys, Exide Industries, and Leoch International.
Other Prominent Vendors in the market are: Amara Raja Batteries, Generac Holdings, and Kohler.
Commenting on the report, an analyst from Technavio’s team said: “A key trend which is boosting market growth is the increase in power generation capacity. Countries worldwide are in the process of increasing their power generation capacity to reduce their energy dependence and overcome issues related to power blackouts. Many end-users are shifting toward alternative energy forms such as renewable-based installations rather than depending on gensets. Solar PV, wind energy, and other forms of renewable energy are gaining popularity as they prove to be cost-effective solutions compared to diesel gensets. This trend is observed primarily in EMEA and APAC countries, as they are focusing more on the development of alternate sources of energy.”
According to the report, a key growth driver is the effectiveness of genset batteries. One of the key performance attributes required by any battery is high power density. Genset batteries provide high power density that enables them to supply power to large diesel engines at low temperatures by occupying the least space. Another notable feature of genset batteries is their long service life that makes them capable of lasting for several years under continuous trickle charge and be able to fire up the genset whenever required. In addition, genset batteries have quick recharge capability, which is necessary in case of installations where there are frequent power outages.
Further, the report states that one challenge that could restrict market growth is the hazardous nature NiCd. The major drawback in NiCd batteries is their high self-discharge rate. For instance, large battery systems can lead to higher float charge energy costs.
Cummins, Eaton, EnerSys, Exide Industries, Leoch International, Amara Raja Batteries, Generac Holdings, Kohler.
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