Industrial Batteries Market

Industrial Batteries Market Analysis and Opportunity Assessment by Battery Type, Application, Region, & Country – Forecast 2022 – 2032

Industrial Batteries Market: Lithium-ion batteries to remain the key battery type being utilized over coming years

Category: Chemicals & Materials

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ID: CVC-00240

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Format: PDF+Excel Dataset

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Published Date: October 2022

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Pages: 250

Industrial Batteries Market Size Analysis

According to a research survey conducted by ChemView Consulting, in 2022, the Global Industrial Batteries Market was worth US$ 18,100.0 Mn and is expected to grow at a CAGR of 9.4% over the forecast period. The market is expected to hit US$ 40,400.0 Mn by 2032 end.

The industrial sector’s growing need for backup power and the need for batteries for grid-level energy storage applications are what are fueling the market’s expansion. Additionally, widespread use of these batteries in several applications, including motive power and UPS, is predicted to fuel market growth.

Lithium-ion batteries are increasingly used in the renewable energy industry, increasing the need for industrial batteries. Lead-acid, nickel-cadmium, and nickel-metal hydride batteries cannot compete with the electrochemical performance of lithium-ion batteries. In addition to a higher power, great efficiency, and minimal self-discharge, these batteries have a long lifespan.

Market Dynamics

THE DEMAND FOR LITHIUM-ION BATTERIES DRIVES THE GROWTH

As lithium-ion batteries are increasingly used in the renewable energy industry, there is an increase in the need for industrial batteries. Lead-acid, nickel-cadmium and nickel-metal hydride batteries cannot compete with the electrochemical performance of lithium-ion batteries. In addition to a higher power, great efficiency, and minimal self-discharge, these batteries have a long lifespan.

They are mostly employed in energy storage systems that keep power produced by clean energy sources like solar and wind. The performance of lithium-ion batteries is being worked on by many industry participants, making them a desirable alternative for stationary energy storage applications.

Increased energy storage is made possible by lithium-ion energy storage devices, facilitating the integration of cheap wind and solar energy into networks. In turn, this decreases total energy expenditures and cuts carbon dioxide emissions.

RECENT DEVELOPMENTS CONSTRAINTS THE MARKET

Industrial batteries, like lead-acid batteries, have traditionally been the most economical technology. Lead-acid batteries are, however, losing ground to alternative battery technologies in terms of cost-effectiveness. Rechargeable batteries are being replaced by emerging alternative battery storage technologies such as supercapacitors, fuel cells, and flywheels powered by UPS.

Flywheels and fuel cells are now being used for power needs for stationary and moving applications. Supercapacitors have also advanced to the point where they are appropriate for energy storage applications in the automobile industry, which are anticipated to grow. These developments constrain the market for industrial batteries.

COVID-19 Impact

The COVID-19 outbreak has impeded the expansion of the industrial battery sector since big producers have trouble meeting the demand for parts and raw materials from lower-tier suppliers. To help in the fight against COVID-19, major battery manufacturers like Samsung SDI Co., Ltd. have changed their attention to producing healthcare products like masks and sanitizers.

Industrial Batteries Market

Market Segments Covered in Report

By Battery Type:

  • Lead-acid
  • Lithium-ion
  • Others

By Application:

  • Telecom & Data Communication
  • Uninterruptible Power Supply
  • Energy
  • Equipment
  • Grid Storage
  • Others

By Region and Country:

  • North America (U.S., Canada)
  • Latin America (Brazil, Mexico, Rest of Latin America)
  • Europe (Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, Rest of Europe)
  • Asia-Pacific (China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Rest of Asia-Pacific)
  • Middle East (Saudi Arabia, Turkey, UAE, Rest of Middle East)
  • Africa (South Africa, Nigeria, Egypt, Rest of Africa)

Segment-Wise Analysis

Why are Lead –acid Type Industrial Batteries projected to have the larger market share?

Lead-acid battery accounted for the largest share of over 47.0% in 2021 and is estimated to be the dominant segment in the forecast period. Lead-acid batteries find application in Uninterruptible Power Supply (UPS) systems as they provide high power density and enhanced life expectancy. A UPS system is an electrical equipment that provides a power supply when the main power or input power sources fail. The high electric manageability of lead-acid batteries is expected to fuel the segment’s growth over the forecast period.

Why is the Telecommunication segment expected to fare well in Industrial Batteries Market?

Lead-acid and lithium-ion batteries are the two main types used in telecom due to cost-effectiveness, improved discharge and Charge efficiency and longer life span. Due to the proliferation of IT companies, the telecommunications segment is expected to grow at a significant rate during the forecast period. The telecommunications industry is rapidly expanding in developing countries.

Region-Wise Analysis

The regions analyzed for the market include North America, Europe, Latin America, Asia Pacific, Middle East, and Africa.

  • With a CAGR of 8.9% during the projected period, North America is anticipated to have the fastest growth in the industrial battery market. Due to the increased need for renewable energy storage in residential, commercial, and utility settings, the industrial battery industry is expanding faster. It is anticipated that these industries will propel market expansion in this area.

Competition Analysis

Market players have used various methods to improve their product portfolios, increase their market share, and improve their chances for development in the industrial batteries market.

Some of the key developments that have taken place in the Industrial Batteries Market include:

  • In April 2021, New lithium-ion batteries from One Charge were introduced; these batteries are designed for 4500-lb motorized pallet jacks (Class III lift trucks). They are strong but lightweight to keep equipment ready at all times.
  • In November 2021, Vision Group announced that Baidu launched the Pinghu DC lithium battery system, along with the Vision Group and seven other cooperative partners. Along with the complete verification of the feasibility and advancement of the technology, it is widely utilized in many data centers in Baidu.

A list of some of the key suppliers present in the market are:

  • EnerSys, Inc.
  • C&D Technologies, Inc.
  • Exide Industries Ltd.
  • GS Yuasa Corporation
  • Crown Batteries
  • East Penn Manufacturing Company
  • Leoch International Technology Limited Inc
  • Samsung SDI Co., Ltd.
  • LG Chem
  • Narada Power
  • Vision Group
  • Saft Groupe
  • Hoppecke
  • Tab
  • Sunlight
  • Yuasa
  • Rolls Battery
  • S. Battery Manufacturing
  • Victron Energy
  • SK Innovation

Report Coverage and Highlights

  • Our comprehensive, data-backed, and facts-oriented report provides niche and cross-sectional analysis at global and country levels.
  • Assessment of the historical (actual data) and current market size (2017-2021), market projections (2022-2032), and CAGR.
  • The market assessment across North America, Europe, East Asia, South Asia & Pacific, Latin America, Middle East, and Africa.
  • Competitive tactical intelligence, key strategies adopted by top players, production capacity and company shares analysis, product brand surveys, and export-import analysis
  • Pricing analysis to set and benchmark your current or future offerings across each product type helps you understand whether your pricing strategy is aligned with market expectations and can be compared to market disruptions.
  • Predictions on critical supply and demand trends and technological expertise needed to address operations scalability.
  • Consumer behavior shifts and their implications for players, list of end-users, and their consumption analysis.
  • Key drivers, restraints, opportunities, and emerging trends impacting the market growth.
  • Value chain analysis (list of manufacturers, distributors, end-users, and average profitability margins).
  • Strategic market analysis, recommendations, and future headways on crucial winning strategies.
Research Scope Details
Forecast period 2022-2032
Historical data available for 2017-2021
Market analysis USD Million for Value and Tons for Volume, and CAGR from 2022 to 2032
Key regions covered North America, Latin America, Europe, Asia-Pacific, Middle East, and Africa
Key countries covered US, Canada, Brazil, Mexico, Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Saudi Arabia, Turkey, UAE, South Africa, Nigeria, Egypt
Key segments covered By Battery Type, Application, and Region
Customization scope Available upon Request
Pricing and purchase options Available upon Request
  • Report Includes

    Market Size Data

    • Global market size data, historical (2018 to 2022) and forecast (2023 to 2033), by each segment and region
    • Regional level market size data, historical (2018 to 2022) and forecast (2023 to 2033), by each segment and country
    • Country level market share data, historical (2018 to 2022) and forecast (2023 to 2033), by each segment
    • Market attractiveness analysis based on market share index and CAGR index for each of the segments and regions
    • Incremental dollar opportunity generated in the forecast period would be indicated
    • Key Takeaways, Recommendations, and key investment pockets for the relevant segments would be highlighted

    Market Background

    • Macroeconomic factors that impact the market developments
    • Market dynamics (Drivers, Restraints, Opportunities) that positively or negatively influence market growth
    • Supply Side and Demand Side trends – trends witnessed from buyers and suppliers side
    • Production and Consumption Gap Analysis – analysis of gap between production and consumption in any geography to fulfil unmet demand
    • Trade analysis and analysis of key supply and demand hubs
    • Identification of hotbed opportunities existing in the market
    • Porter’s and PEST analysis to understand the business environment of the geography
    • Regulatory scenario – Identification of key sector specific and trade regulations, and assessment of whether it helps or hinder market development & growth

    Pricing Analysis

    • Regional-level product pricing analysis to set and benchmark your current or future product offerings across each product type
    • Historical and projected pricing trends of the product which helps in determining the product’s price and/or services beneficial for companies product lifecycle
    • Cost teardown analysis and key factors impacting pricing

    Value Chain Analysis

    • Country-wise list of raw material suppliers
      • Raw material price trends and buyers’ sentiment
      • Overview of Intelligent Sourcing Technique
      • Raw material procurement requirements
      • Vendor selection criteria
    • Country-wise list of product manufacturers
    • Country-wise list of distributors/traders
    • Country-wise list of end-users
      • End-Users/Customers consumption mapping
      • Key End-Users/Customers client list
    • Country-wise list of other key channel partners
    • Average profitability margins
    • Regional value chain dynamics

    Competition Analysis

    • Market shares and production capacities of key players
    • Tier structure analysis of market
    • Comprehensive competition dashboard representing the top 10-15 players in the market
    • Individual company profiles of top 15 to 20 manufacturers
      • Business Overview
      • Product Portfolio
      • Key Financials
      • Recent Developments
      • SWOT Analysis
      • Strategies

Country Coverage
North America: U.S., Canada
Latin America: Brazil, Mexico, Argentina, Central America, Rest of Latin America
Western Europe: Germany, Italy, France, UK, Spain, Poland, Romania, Rest of Western Europe
Eastern Europe: Russia & Belarus, Balkan Countries, Baltic Countries, Central Asia, Rest of Eastern Europe
Middle East & Africa: KSA, UAE, Turkey, Israel, Northern Africa, South Africa, Rest of Middle East & Africa
East Asia: China, Japan, South Korea
South Asia & Pacific: India, ASEAN, Australia & New Zealand, Rest of South Asia & Pacific

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Frequently Asked Questions

In the forecast period between 2022 and 2032, the market is expected to grow at a CAGR of 9.4%.

The industrial sector’s growing need for backup power and the need for batteries for grid-level energy storage applications are what are fueling the market’s expansion.

Major global Industrial Batteries Market players are EnerSys, Inc, C&D Technologies, Inc, Exide Industries Ltd, GS Yuasa Corporation, Crown Batteries, East Penn Manufacturing Company, Leoch International Technology Limited Inc, Samsung SDI Co., Ltd, LG Chem, Narada Power, Vision Group, Saft Groupe, Hoppecke, Tab, Sunlight and Yuasa.

Lead-acid battery charging and disposal safety concerns and high capital costs are anticipated to limit market expansion to some extent.

The North American region is expected to account for the largest market revenue share in the Global Industrial Batteries market.

  1. Executive Summary
    • Global Market Snapshot
    • Key Success Factors
    • Strategic Analysis and Recommendations
  2. Market Overview
    • Market Taxonomy
    • Market Definitions
  3. Research Methodology
    • Preliminary Investigation & Research Design
    • Secondary Research & Primary Research
    • Data Analysis & Econometric Modelling
    • Expert Data Validation
  4. Key Emerging Trends Analysis
    • Supply-Side Trends
    • Demand-Side Trends
  5. Global Industrial Batteries Market Value (US$ Mn) and Volume (Tons) Analysis
    • Global Market Value (US$ Mn) Analysis, 2017 – 2032
    • Incremental $ Opportunity Index, 2022-2032
    • Global Market Volume (Tons) Analysis, 2017 – 2032
  6. Global Industrial Batteries Market Pricing Analysis
    • Regional Level Pricing Analysis and Forecast
      • Manufacturers Level Pricing
      • Distributor Level Pricing
    • Global Pricing Analysis Benchmark
    • Cost Breakdown Analysis
  7. Cross-Sectional Analysis
    • Cross Analysis of Application W.R.T. Product Type
  8. Supply Vs. Demand Analysis
    • Regional Supply Vs. Demand Gap Assessment
    • Top Producing Countries Analysis
  9. Market Background
    • Macroeconomic Factors
    • Forecast Factors
    • Market Dynamics
      • Driver
      • Restraint
      • Opportunity
    • Supply Chain Analysis
      • List Raw Material Suppliers
      • List of Manufacturers
      • List of Distributors
      • List of End-Users
      • Average Profitability Margin Analysis
    • Covid-19 Impact Assessment
      • Economy/Cluster Projections
      • Covid-19 Economic Assessment
      • Potential Impact on Target Market
      • Recovery Scenario
    • Regulatory Framework
      • Regulations of Key Countries
      • Potential Impact of Regulations
    • Porter’s Five Forces Analysis
    • Technology Landscape
  10. Global Industrial Batteries Market 2017 – 2032 By Battery Type
    • Introduction
    • Key Market Trends
    • Historical and Current Market (2017-2021) and Future Market Analysis (2022-2032) By Battery Type [Value (US$ Mn) and Volume (Tons) Analysis]
      • Lead-acid
      • Lithium-ion
      • Others
    • Market Attractiveness Analysis by Battery Type
  11. Global Industrial Batteries Market 2017 – 2032 by Application
    • Introduction
    • Historical and Current Market (2017-2021) and Future Market Analysis (2022-2032) By Application [Value (US$ Mn) and Volume (Tons) Analysis]
      • Telecom & Data Communication
      • Uninterruptible Power Supply
      • Energy
      • Equipment
      • Grid Storage
      • Others
    • Market Attractiveness Analysis by Application
  12. Global Industrial Batteries Market Historical Analysis 2017 – 2021 and Forecast 2017 – 2032 by Region
    • Introduction
    • Key Market Trends
    • Historical and Current Market (2017-2021) and Future Market Analysis (2022-2032) By Region [Value (US$ Mn) and Volume (Tons) Analysis]
      • North America
      • Latin America
      • Europe
      • Asia-Pacific
      • Middle East
      • Africa
    • Market Attractiveness Analysis by Region
  13. North America Industrial Batteries Market Historical Analysis 2017 – 2021 and Forecast 2022-2033
    • Introduction
    • Key Market Trends
    • Historical and Current Market Size (2017-2021) and Future Market Size Analysis (2022-2032) [Value (US$ Mn) and Volume (Tons) Analysis]
      • By Country
        • U.S.
        • Canada
      • By Battery Type
      • By Application
    • Market Attractiveness Analysis
      • By Country
      • By Battery Type
      • By Application
  1. Latin America Industrial Batteries Market Historical Analysis 2017 – 2021 and Forecast 2017 – 2032
    • Introduction
    • Key Market Trends
    • Historical and Current Market Size (2017-2021) and Future Market Size Analysis (2022-2032) [Value (US$ Mn) and Volume (Tons) Analysis]
      • By Country
        • Brazil
        • Mexico
        • Rest of Latin America
      • By Battery Type
      • By Application
    • Market Attractiveness Analysis
      • By Country
      • By Battery Type
      • By Application
  1. Europe Industrial Batteries Market Historical Analysis 2017 – 2021 and Forecast 2017 – 2032
    • Introduction
    • Key Market Trends
    • Historical and Current Market Size (2017-2021) and Future Market Size Analysis (2022-2032) [Value (US$ Mn) and Volume (Tons) Analysis]
      • By Country
        • Germany
        • Italy
        • France
        • UK
        • Spain
        • Netherlands
        • Norway
        • Russia
        • Rest of Europe
      • By Battery Type
      • By Application
    • Market Attractiveness Analysis
      • By Country
      • By Battery Type
      • By Application
  1. Asia-Pacific Industrial Batteries Market Historical Analysis 2017 – 2021 and Forecast 2017 – 2032
    • Introduction
    • Key Market Trends
    • Historical and Current Market Size (2017-2021) and Future Market Size Analysis (2022-2032) [Value (US$ Mn) and Volume (Tons) Analysis]
      • By Country
        • China
        • Japan
        • South Korea
        • India
        • Indonesia
        • Thailand
        • Vietnam
        • Australia & New Zealand
        • Rest of Asia-Pacific
      • By Battery Type
      • By Application
    • Market Attractiveness Analysis
      • By Country
      • By Battery Type
      • By Application
  1. Middle East Industrial Batteries Market Historical Analysis 2017 – 2021 and Forecast 2017 – 2032
    • Introduction
    • Key Market Trends
    • Pricing Analysis
    • Historical and Current Market Size (2017-2021) and Future Market Size Analysis (2022-2032) [Value (US$ Mn) and Volume (Tons) Analysis]
      • By Country
        • Saudi Arabia
        • Turkey
        • U.A.E.
        • Rest of the Middle East
      • By Battery Type
      • By Application
    • Market Attractiveness Analysis
      • By Country
      • By Battery Type
      • By Application
  2. Africa Industrial Batteries Market Historical Analysis 2017 – 2021 and Forecast 2017 – 2032
    • Introduction
    • Key Market Trends
    • Pricing Analysis
    • Historical and Current Market Size (2017-2021) and Future Market Size Analysis (2022-2032) [Value (US$ Mn) and Volume (Tons) Analysis]
      • By Country
        • South Africa
        • Nigeria
        • Egypt
        • Rest of Africa
      • By Battery Type
      • By Application
    • Market Attractiveness Analysis
      • By Country
      • By Battery Type
      • By Application
  3. Competition Analysis
    • Tier Structure Breakdown
    • Market Share Analysis
    • Production Capacity Analysis
    • Company Footprint Analysis
      • Product Footprint of Players
      • Regional Footprint of Players
      • Channel Footprint of Players
    • ChemView’s Competitor Positioning Matrix
  4. Company Profiles
    • EnerSys, Inc.
      • Company Overview
      • Product & Financial Portfolio
      • Manufacturing Facilities
      • Recent Developments
      • SWOT Analysis
      • Strategy Overview
    • C&D Technologies, Inc.
    • Exide Industries Ltd.
    • GS Yuasa Corporation
    • Crown Batteries
    • East Penn Manufacturing Company
    • Leoch International Technology Limited Inc
    • Samsung SDI Co., Ltd.
    • LG Chem
    • Narada Power
    • Vision Group
    • Saft Groupe
    • Hoppecke
    • Tab
    • Sunlight
    • Yuasa
    • Rolls Battery
    • S. Battery Manufacturing
    • Victron Energy
    • SK Innovation
  5. Assumptions and Acronyms

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