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.
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.
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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 Market 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.
https://www.marketresearchfuture.com/reports/industrial-batteries-market-1631
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