Industrial Batteries Market by Battery Type (Lead-acid, Lithium-ion), End-Use Industry (Stationary, Motive), and Region (North America, Asia Pacific, Europe, Middle East & Africa, South America) - Global Forecast to 2029
Industrial Batteries Market by Battery Type (Lead-acid, Lithium-ion), End-Use Industry (Stationary, Motive), and Region (North America, Asia Pacific, Europe, Middle East & Africa, South America) - Global Forecast to 2029
The industrial batteries market is projected to grow from USD 21.2 billion in 2024 to USD 34.7 billion by 2029, at a CAGR of 10.3 % during the forecast period. The market for industrial batteries is anticipated to expand at a modest rate due to factors including the growing use of lithium-ion batteries in the renewable energy sector and the continuous modernization of the grid, which is driving up demand for grid energy storage systems. The market expansion for industrial batteries is being hampered by the availability of inexpensive alternatives as well as problems with the storage and transportation of spent or used batteries.
“Lead-acid battery segment is estimated to lead the Industrial batteries market during the forecast period”
In terms of battery type, the lead-acid battery held the most market share for industrial batteries overall. lead-acid batteries have significant demand in cars. The batteries can be quickly charged and have a low rate of discharge. Another benefit these batteries have over conventional batteries is that they can withstand being overcharged. Lead-acid batteries have a 95% recyclable content. Lead-acid batteries have several benefits and can be recycled, which is why the market for them is always expanding.
“The stationary end-use industry is estimated to dominate the Industrial batteries market during the forecast period”
In terms of end-use industries, the Industrial batteries market as a whole is anticipated to lead by the stationary segment during the forecast period in terms of value. Applications for stationary industrial batteries include emergency power, telephony, UPS, and grid level systems. These batteries are shallow-cycle cells by nature, meant to be mostly kept near full charge for the duration of their lives, with sporadic deep discharges. Utilities as well as the commercial and residential sectors use these batteries in static applications.
“North America projected to account for the largest share in the Industrial batteries market during the forecast period”
Over the course of the forecast period, North America is anticipated to have the most share of the industrial batteries market. Installing and supplying industrial batteries-based energy storage systems is the primary emphasis of important firms in the region, including Tesla, Inc., ABB, General Electric, and Honeywell. The US Energy Information Administration reports that US power systems are gradually implementing large-scale industrial batteries. Lithium-ion batteries accounted for largest share of US industrial battery power capacity and the country is expected to account for a significant market share in the near future as it is home to various players.
Profile break-up of primary participants for the report:
By Company Type: Tier 1 – 65%, Tier 2 – 20%, and Tier 3 – 15%
By Designation: C-level– 25%, Director Level– 30%, and Others – 45%
By RegionD: North America – 30%, Europe – 20%, Asia Pacific – 40%, Middle East & Africa 7%, and South America 3%.
C&D Technologies, Inc. (US), Enersys (US), GS Yuasa International Ltd. (Japan), Exide Industries Ltd. (India), East Penn Manufacturing Company (US), Crown Batteries (US), Samsung SDI Co., Ltd. (South Korea), Leoch International Technology Limited Inc (China), LG Chem (South Korea), are some of the major players operating in the industrial batteries market. These players have adopted strategies such as agreement, partnerships, expansions, and acquisitions in order to increase their market share business revenue.
Research Coverage:
The report defines, segments, and projects the industrial batteries market based on battery type, end-use industry, and region. It provides detailed information regarding the major factors influencing the growth of the market, such as drivers, restraints, opportunities, and challenges. It strategically profiles, Industrial batteries manufacturers and comprehensively analyses their market shares and core competencies as well as tracks and analyzes competitive developments, such as expansions, joint ventures, agreements, and acquisitions, undertaken by them in the market.
Reasons to Buy the Report:
The report is expected to help the market leaders/new entrants in the market by providing them the closest approximations of revenue numbers of the Industrial batteries Market and its segments. This report is also expected to help stakeholders obtain an improved understanding of the competitive landscape of the market, gain insights to improve the position of their businesses, and make suitable go-to-market strategies. It also enables stakeholders to understand the pulse of the market and provide them information on key market drivers, restraints, challenges, and opportunities.
The report provides insights on the following pointers:
Analysis of key drivers (increasing demand for grid energy storage systems owing to ongoing grid modernization, and rising adoption of lithium-ion batteries in renewable energy sector), restraints (availability of low cost substitutes, and issues related to transportation and storage of used or spent batteries), opportunities (advancement in telecommunication sector, and increasing battery innovation initiatives by established players), and challenges (limited usage and overheating issues of industrial batteries, and disruptions in supply chain due to Covid-19 pandemic) influencing the growth of the Industrial batteries Market.
Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities in the Industrial batteries Market.
Market Development: Comprehensive information about lucrative markets – the report analyses the Industrial batteries Market across varied regions.
Market Diversification: Exhaustive information about new products, various types, untapped geographies, recent developments, and investments in the Industrial batteries Market.
Competitive Assessment: In-depth assessment of market shares, growth strategies and product offerings of leading players such as Enersys (US), C&D Technologies, Inc. (US), GS Yuasa International Ltd. (Japan), Exide Industries Ltd. (India), Leoch International Technology Limited Inc (China) and others in the Industrial batteries Market.
List of Tables
Table 1 Industrial Batteries Market: Inclusions And Exclusions
Table 2 Industrial Batteries Market Snapshot: 2024 Vs. 2029
Table 3 Porter’s Five Forces Analysis
Table 4 Role Of Companies In Ecosystem
Table 5 Tariff Data
Table 6 North America: Regulatory Bodies, Government Agencies,
And Other Organizations
Table 7 Europe: Regulatory Bodies, Government Agencies,
And Other Organizations
Table 8 Asia Pacific: Regulatory Bodies, Government Agencies,
And Other Organizations
Table 9 Rest Of The World: Regulatory Bodies, Government Agencies,
And Other Organizations
Table 10 Industrial Batteries Market: Key Conferences And Events, 2024−2025
Table 11 Influence Of Stakeholders On Buying Process For Top End Uses (%)
Table 12 Key Buying Criteria For Top End Uses
Table 13 Import Data On Lithium Cells And Batteries (Usd Billion), 2019−2022
Table 14 Export Data On Lithium Cells And Batteries (Usd Billion), 2019−2022
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