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.
Get Free Sample Copy@ https://www.marketresearchfuture.com/sample_request/1631
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.
Browse Complete Report Details
@ https://www.marketresearchfuture.com/reports/industrial-batteries-market-1631
No comments:
Post a Comment