The global industrial batteries market size reached USD 17.0 Billion in 2021 and is expected to register a revenue CAGR of 9.0% during the forecast period, according to latest analysis by Emergen Research.
Increasing demand for lithium-ion batteries from the automotive industry is a major factor driving market revenue growth. Rising demand for industrial batteries to power homes, buildings, and machinery and equipment at construction sites is also a factor driving revenue growth of the market. For instance, South Australia is home to the largest lithium-ion battery installation and is powered by Tesla. It has a 100-megawatt capacity that powers 30,000 homes. It has also announced 50%, which will raise its capacity to 150 MW.
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An emerging trend in large-scale battery storage is to deploy centralized batteries in a district to store the surplus energy generated by locally distributed generation plants, such as rooftop solar PV and others. These battery storage systems are connected to the distribution network and can be directly controlled by the distribution system operator. The stored electricity can be utilized later when demand exceeds supply in the specific district. Such a pilot project is being implemented in Walldorf, Germany, with a 100 kW battery system connected to 40 households.
One of the report’s central components is the broad Industrial Batteries market segmentation that includes the product type gamut, application spectrum, end-user industry landscape, significant geographical regions, and the top market contenders. The report contains unbiased industry expert opinions on the current market scenario, past market performance, production & consumption rates, demand & supply ratio, and revenue generation forecasts over the estimated period.
The key players’ financial positions, along with their gross profits, sales volumes, sales revenue, manufacturing costs, and other financial ratios, have been accurately gauged in the report. Furthermore, several analytical tools like investment assessment, SWOT analysis, and Porter’s Five Forces Analysis have been implemented by our analysts’ team to evaluate the production and distribution capacities of the Industrial Batteries market players.
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Key Highlights From the Report
The Nickel-Metal Hydride batteries segment is expected to register a steady growth rate due to content of fewer toxic metals as compared to other batteries such as Nickel Cadmium (Ni-Cad), and is currently labeled as environmentally friendly. This battery type has approximately 30% more capacity and periodic exercise cycles need to be done less often, is also easy to store and transport, and not subject to regulatory guidelines.
Automotive segment revenue is expected to register a rapid growth rate during the forecast period due to high demand for rechargeable batteries with greater power capacity for powering Electric Vehicles (EVs). Moreover, Automotive Original Equipment Manufacturers (OEMs) are increasing investment in developing more advanced technologies, including battery power capacity, production volume, and plant upgrade, among others, which is driving revenue growth of the segment.
The market in Asia Pacific accounted for largest revenue share in 2021 due to presence of major companies such as LG Chem, SAMSUNG SDI Co., LTD., and others. Increasing government initiatives to reduce environmental pollution and reduce dependency on and use of non-renewable energy resources are some key factors contributing to revenue growth of the market.
The Global Industrial Batteries Market is highly consolidated due to the presence of a large number of companies across this industry. The report discusses the current market standing of these companies, their past performances, demand and supply graph, production and consumption patterns, sales network, distribution channels, and growth opportunities in the market at length. The report scrutinizes the strategic approach of key market players towards expanding their product offerings and fortifying their market foothold.
Key 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.
Emergen Research has segmented the global industrial batteries market on the basis of product type, battery type, end-use, and region:
Product Type Outlook (Revenue, USD Billion; 2019–2030)
Battery Type Outlook (Revenue, USD Billion; 2019–2030)
End-Use Outlook (Revenue, USD Billion; 2019–2030)
Telecom & Data Communication
Grid-Level Energy Storage
This section of the report offers valuable insights into the geographical segmentation of the Industrial Batteries market, alongside estimating the current and future market valuations based on the demand-supply dynamics and pricing structure of the leading regional segments. Furthermore, the growth prospects of each segment and sub-segment have been meticulously described in the report.
The report classifies the global Industrial Batteries market into various regions, including:
North America (U.S., Canada)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Middle East & Africa (Saudi Arabia, the U.A.E., South Africa, Rest of MEA)
Key Benefits of Buying the Global Industrial Batteries Report:
Comprehensive analysis of the changing competitive landscape
Assists in decision making processes for the businesses along with detailed strategic planning methodologies
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 key stakeholders of the business sphere
Detailed analysis of the factors influencing the growth of the Global Industrial Batteries Market
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Highlights of the TOC:
1. Report Overview 1.1 Research Scope 1.2 Key Industrial Batteries market segments 1.3 Major players 1.4 Market analysis by product 1.5 Market analysis by application 1.6 Report timeline
2. Global Growth Trends 2.1 Global Industrial Batteries market size 2.2 Latest Industrial Batteries market trends 2.3 Key growth trends
3. Competitive Landscape 3.1 Global Industrial Batteries market key players 3.2 Global Industrial Batteries size by manufacturers 3.3 Products of major players 3.4 Entry barriers in the Industrial Batteries market 3.5 Mergers, acquisitions, joint ventures, and strategic alliances
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