Market Overview:
Industrial
batteries are mechanically designed to endure harsh environments for a
prolonged period of time while surviving thousands of recharge cycles and
operating under a wide temperature range. Industrial batteries find application
in core industries such as Power, Oil & Gas, Steel, Cement, Telecom,
Railways, Urban Metro, IT, Financial Institutions, and Non-Conventional Energy
Systems. Expansion of key end-user industries translates growth into the global
industrial batteries market. The global industrial batteries market is
expanding at a torrid pace and is likely to scale to a significant valuation
over the forecast period of 2017-2023, predicts Market Research Future (MRFR)
in a thoroughly studied report.
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The fourth
industrial revolution represents mammoth growth opportunities to the global
industrial batteries market. Batteries are an absolute essential for the
industrial revolution as they facilitate energy storage on a mass scale.
Growing electrification projects across the globe are also likely to augment
the growth of the global industrial batteries market.
The automotive
industry is a major end-user for industrial batteries and generates huge demand
which can be credited for the growth of the market. A huge chunk of the global
electrical batteries market demand id earmarked for the electric vehicles
sector where lithium-ion batteries are used to electric power vehicles.
Advancement of
battery technology has resulted in the development of industrial batteries
which can withstand harsher conditions, resist extreme temperatures, and are ultra-small.
Design improvements allow industrial batteries to deliver long-life operation
along with high cycle rate and lower self-discharge.
Other factors
contributing to the market growth include growing infrastructural activities
across the globe, especially in the emerging economies and rapid urbanization.
On the downside, the growth of the global industrial batteries market is
expected to be impeded by the implementation of stringent regulations by
various regulatory bodies and concerns over the use and disposal of toxic
materials used in industrial batteries.
Competitive
Landscape
·
C&D Technologies, Inc.
·
East Penn Manufacturing Company
·
GS Yuasa Corporation
·
Enersys Inc.
·
Johnson Controls Inc.
·
Northstar Battery Company LLC
·
Exide Technologies Inc.
·
Robert Bosch GmbH
·
Saft Groupe S.A.
·
Toshiba International
Corporation
Industry
Updates
February
2019- Gelion Technologies Pty Ltd., a Sydney-based
energy storage start-up launched a new battery which relies on zinc bromine.
The technology was developed as part of a contract with the University of
Sydney. These batteries have been integrated into solar light poles across the
university campus. The company intends to produce these batteries on a mass
scale for numerous energy applications.
Segmentation
The Industrial
Batteries Industry has been segmented based on type and application.
By type, the
global industrial batteries market has been segmented into acid, nickel-based,
lithium-based, and others.
By application,
the global industrial batteries market has been segmented into
telecommunication, power storages, industrial equipment, electric grid storage,
and others.
Regional
Analysis
By region, the
global industrial batteries market has been segmented into North America, Latin
America, Europe, Asia Pacific (APAC), and the Middle East & Africa (MEA).
APAC market is
likely to expand at the highest CAGR over the forecast period. The rapid pace
of industrialization in the APAC region and expanding telecommunication industry
present ample growth opportunities for the growth of the market. Towering
demand for electric grid storages is also likely to induce high demand for
electric batteries.
The MEA market
is expected to showcase tremendous growth over the forecast period. The crude
oil industry generates massive demand for industrial batteries in countries
such as Iraq, the United Arab Emirates, Saudi Arabia, Iran, and Kuwait.
Presence of oil & gas reserves in the region is likely to propel industrial
activity in the region which will further drive the market in the forthcoming
years.
The North
America market is driven by an increase in the production of electric grid
storages. The US is the key contributor to North America and accounted for the
largest share of the global market in 2016.
Demand for
industrial batteries is anticipated to rise in countries such as Italy,
Germany, Spain, the U.K, France, and Russia in the coming years. Heightened
demand from the automobile industry and the growing manufacturing industry boosts
the growth of the Europe market.
Latin America
market is likely to be driven by the proliferation of industries and innovation
in the field of batteries.
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