Industrial Batteries Market – Global Industry Analysis and Forecast (2022-2029)

By 2029, the Industrial Batteries Market is expected to reach US $ 17.80 billion, thanks to growth in the Type, and End-use segment. The report analyzes market dynamics by region and end-user industries.

Industrial Batteries Market Overview:

The global industrial batteries market was valued at US $ 10.84 Bn. in 2021, and it is expected to reach US $ 17.80 Bn. by 2029 with a CAGR of 6.40% during the forecast period. Industrial batteries are electrochemical systems that, during discharge, convert higher-level active materials into an alternate state. The most common chemicals and metals are used to produce primary and secondary batteries. These batteries are used in industries to raise heavy machineries such as trucks and forklifts. The cathode, anode, and electrolyte are the most important components in these batteries, with the cathode accounting for roughly 30% of the overall battery cost. When compared to consumer batteries, they are heavier, larger, and more powerful. Backup power, operating power, and energy regulation are all applications for industrial batteries. These batteries are used in a variety of equipment, including remote sensors, GPS tracking, and many others, that function in extreme temperatures ranging from -55°C to 150°C. The industrial battery has a lifespan of more than 40 years. Industrial Batteries MarketTo know about the Research Methodology :- Request Free Sample Report

Industrial Batteries Market Dynamics:

Rising need for batteries from the industrial sector The growth of the market is because of the rising need for backup power in the industrial sector, as well as the demand for batteries in grid-level energy storage applications. These batteries are constantly being used in applications such as backup power for telecom base stations and data centers, as well as to power forklifts, all of which are expected to support the growth of the market. Also, these batteries do not release harmful chemicals like sulfuric acid, promoting environmental sustainability and thereby contributing to the growth of the market across the globe. Natural resource depletion, rising carbon emissions, and ongoing efforts by both the public and commercial sectors to minimize carbon emissions and reduce fuel usage significantly contribute to the growth of the market. The government rules and regulations relating to carbon emissions are expected to enhance the usage of lithium-ion batteries, eventually driving the growth of the global market for industrial batteries.

High Cost of Lithium-Based Batteries & Stringent Government Regulations

During the forecast period, the high cost of lithium-ion batteries is expected to hinder the growth of the industrial batteries market. The cost of a lithium-ion battery is approximately US $805.3 kWh (Kilowatt hours), whereas the cost of a lead-acid battery is the US $172.6 KWh, as per PowerTech Systems, which manufactures, distributes, exports, and imports an extensive range of frequency inverters, AC drives, and VFD. As a result, the rate of acceptance of these batteries has slowed in a range of applications, limiting the global industrial batteries market's growth. Based on the regional concentration of industrial battery raw materials, metal reserves in countries like China and the Democratic Republic of the Congo face a risk of supply shortages if export restrictions are imposed. Thus, it is expected to hamper the growth of the market during the forecast period. Also, over the forecast period, the market's growth is expected to be hampered by government rules and regulations about restricting the use of certain harmful chemicals in the production of batteries.

Ongoing Research and Development Activities By Manufacturers

To lower operation costs and increases the productivity of industrial batteries, manufacturers develop enhanced solutions and different equipment for specific requirements, as well as increased technology and fuel economy. As a result of these requirements, the demand for industrial batteries in equipment manufacturing applications have risen. The majority of industrial batteries manufacturers are collaborating with battery raw material suppliers to strengthen the supply of battery raw materials to introduce new battery technologies, as the global industrial batteries market is expected to grow rapidly during the forecast period, creating countless growth opportunities.

Industrial Batteries Market Segment Analysis:

Based on Type, the global Industrial Batteries market is segmented into five types as follows, lead-acid batteries, lithium-based batteries, zinc-based batteries, nickel-based batteries, and others. In 2021, the lead-acid batteries segment was dominant and held 47.10% of the overall market share. This segment is anticipated to grow at a CAGR of xx% during the forecast period as these batteries are used in Uninterruptible Power Supply (UPS) systems because of their high-power density and long life. A UPS system is a piece of electrical equipment that supplies power when the main power or input power sources go down. Lead-acid battery's high electric management is expected to drive segment growth over the forecast period. Based on their low cost, reliability, and well-established supply chain, they are also used in motive industry applications such as forklifts. The segment is anticipated to rise in the future thanks to rapid industrialization and an increase in the number of manufacturing units. Over the forecast period, the expansion of warehouse space, the increasing e-commerce industry, and high demand for forklift truck replacement, as well as growing investments by companies in emerging nations, are all expected to support the growth of the segment. Industrial Batteries MarketBased on End-use, the global Industrial Batteries market is segmented into six types as follows, telecom & data communication, UPS/Backup, grid-level energy storage, industrial equipment, motive power, and others. In 2021, the motive power segment was dominant and held 33% of the overall market share in terms of revenue. Thanks to the wide range of product applications in motive industry applications, like forklifts, the segment is expected to maintain its dominant position during the projection period. Rapid industrialization and an increase in the number of production units are anticipated to support the segment's growth. Also, over the forecast period, the expansion of warehouse spaces, the developing e-commerce industry, and increased demand for forklift truck replacements are expected to contribute to the growth of the segment.

Industrial Batteries Market Regional Insights:

In 2021, Asia Pacific was dominant among all the regions accounting for 34.51% of the overall market share in terms of revenue. Thanks to a strong industrial base and an increase in civil infrastructure operations, it is expected to be the fastest-growing regional market over the forecast period, particularly in China, India, Australia, and many Southeast Asian countries. The strong growth in industrial and commercial sectors such as IT, telecom, and others has resulted in a significant demand for industrial batteries for backup power in these facilities in the region's developing economies. North America is anticipated to be the second-largest regional market, with the United States playing a leading role. The strong manufacturing base and quick growth of the automotive industry in the United States is expected to enhance demand for battery-powered commercial vehicles such as forklift trucks, which is expected to support the demand for industrial batteries over the forecast period. Thanks to rising spending on innovation and the increasing purchasing power of enterprises, demand for industrial batteries is anticipated to rise in various European nations, like Italy, Germany, Spain, the United Kingdom, France, and Russia. Moreover, the presence of big automobile manufacturers, particularly in Germany, is expected to drive market growth over the forecast period.

Recent Advancements:

• In December 2021, Saft, a subsidiary of TOTAL launched a new brand of batteries in India. • In November 2021, Inverted Energy has opened a new lithium-ion battery manufacturing facility in Okhla. Telangana has introduced an electric vehicle policy that exempts the first 2, 00,000 electric vehicles from paying road tax. The company is expecting increased demand soon to expand its capacity. Inverted Energy co-founder Rahul Raj stated, "We want to facilitate the transition to more reliable, more inexpensive, more durable, and produced in India lithium-ion batteries." • In January 2021, In India, Exide Industries introduced Battery Ups for Soho Trend. In November, Exide Industries, an Indian lead-acid battery manufacturer, joined the home office and small office market with a new range of UPS batteries designed exclusively for this market. Exide Industries' Power NXT lead-acid batteries were exhibited in Bangalore by Arun Mittal, the company's industrial division manager. The objective of the report is to present a comprehensive analysis of the global industrial batteries market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants. PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding the global Industrial Batteries market dynamics, structure by analyzing the market segments and project the global industrial batteries market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the global industrial batteries market make the report investor’s guide.

Industrial Batteries Market Scope: Inquire before buying

Global Industrial Batteries Market
Report Coverage Details
Base Year: 2021 Forecast Period: 2022-2029
Historical Data: 2017 to 2021 Market Size in 2021: US $ 10.84 Bn.
Forecast Period 2022 to 2029 CAGR: 6.40% Market Size in 2029: US $ 17.80 Bn.
Segments Covered: by Type • Lead-acid batteries • Lithium-based batteries • Zinc-based batteries • Nickel-based batteries • Others
by End-user • Telecom & data communication • UPS/Backup • Grid-level energy storage • Industrial equipment • Motive power • Others

Industrial Batteries Market, by Region:

• North America • Europe • Asia Pacific • The Middle East and Africa • South America

Industrial Batteries Market, Key Players:

Exide Industries • Enersys • Saft • GS Yuasa International Ltd. • NorthStar • C&D Technologies Inc. • Robert Bosch GmbH • East Penn Manufacturing Company • Toshiba International Corporation • Luminous India • Amara Raja Batteries Ltd. • HBL Power Systems Ltd. • Okaya Power Pvt. Ltd. • Exide Technologies. • Base Batteries • Southern Batteries Pvt. Ltd. • Truepower Systems LLP • Johnson Controls • Panasonic Corporation • Others Frequently Asked Questions: 1. Which region has the largest share in Global Industrial Batteries Market? Ans: Asia-Pacific region held the highest share in 2021. 2. What is the growth rate of Global Industrial Batteries Market? Ans: The Global Industrial Batteries Market is expected to grow at a CAGR of 6.40% during forecast period 2022-2029. 3. What is scope of the Global Industrial Batteries market report? Ans: Global Industrial Batteries Market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors & Leaders, and market estimation of the forecast period. 4. Who are the key players in Global Industrial Batteries market? Ans: The important key players in the Global Industrial Batteries Market are – Exide Industries, Enersys, Saft, GS Yuasa International Ltd., NorthStar, C&D Technologies Inc., Robert Bosch GmbH, East Penn Manufacturing Company, Toshiba International Corporation, Luminous India 5. What is the study period of this market? Ans: The Global Industrial Batteries Market is studied from 2021 to 2029.
1. Preface 1.1. Market Definition and Key Research Objectives 1.2. Research Highlights 2. Assumptions and Research Methodology 2.1. Report Assumptions 2.2. Abbreviations 2.3. Research Methodology 2.3.1. Secondary Research 2.3.1.1. Secondary data 2.3.1.2. Secondary Sources 2.3.2. Primary Research 2.3.2.1. Data from Primary Sources 2.3.2.2. Breakdown of Primary Sources 3. Executive Summary: Global Industrial Batteries Market Size, by Market Value (US $Bn.) 3.1. Global Market Segmentation 3.2. Global Market Segmentation Share Analysis, 2021 3.2.1. Global 3.2.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 3.3. Geographical Snapshot of the Industrial Batteries Market 3.4. Geographical Snapshot of the Industrial Batteries Market, By Manufacturer share 4. Global Industrial Batteries Market Overview, 2021-2029 4.1. Market Dynamics 4.1.1. Drivers 4.1.1.1. Global 4.1.1.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 4.1.2. Restraints 4.1.2.1. Global 4.1.2.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 4.1.3. Opportunities 4.1.3.1. Global 4.1.3.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 4.1.4. Challenges 4.1.4.1. Global 4.1.4.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 4.1.5. Industry Trends and Emerging Technologies 4.1.6. Porter Five Forces Analysis 4.1.6.1. Threat of New Entrants 4.1.6.2. Bargaining Power of Buyers/Consumers 4.1.6.3. Bargaining Power of Suppliers 4.1.6.4. Threat of Substitute Products 4.1.6.5. Intensity of Competitive Rivalry 4.1.7. Value Chain Analysis 4.1.8. Technological Roadmap 4.1.9. Regulatory landscape 4.1.10. Impact of the Covid-19 Pandemic on the Global Industrial Batteries Market 5. Supply Side and Demand Side Indicators 6. Global Industrial Batteries Market Analysis and Forecast, 2021-2029 6.1. Global Industrial Batteries Products Market Size & Y-o-Y Growth Analysis. 7. Global Industrial Batteries Market Analysis and Forecasts, 2021-2029 7.1. Market Size (Value) Estimates & Forecast By Type, 2021-2029 7.1.1. Lead-acid batteries 7.1.2. Lithium-based batteries 7.1.3. Zinc-based batteries 7.1.4. Nickel-based batteries 7.1.5. Others 7.2. Market Size (Value) Estimates & Forecast By End-use, 2021-2029 7.2.1. Telecom & data communication 7.2.2. UPS/Backup 7.2.3. Grid-level energy storage 7.2.4. Industrial equipment 7.2.5. Motive power 7.2.6. Others 8. Global Industrial Batteries Market Analysis and Forecasts, By Region 8.1. Market Size (Value) Estimates & Forecast By Region, 2021-2029 8.1.1. North America 8.1.2. Europe 8.1.3. Asia-Pacific 8.1.4. Middle East & Africa 8.1.5. South America 9. North America Industrial Batteries Market Analysis and Forecasts, 2021-2029 9.1. Market Size (Value) Estimates & Forecast By Type, 2021-2029 9.1.1. Lead-acid batteries 9.1.2. Lithium-based batteries 9.1.3. Zinc-based batteries 9.1.4. Nickel-based batteries 9.1.5. Others 9.2. Market Size (Value) Estimates & Forecast By End-use, 2021-2029 9.2.1. Telecom & data communication 9.2.2. UPS/Backup 9.2.3. Grid-level energy storage 9.2.4. Industrial equipment 9.2.5. Motive power 9.2.6. Others 10. North America Industrial Batteries Market Analysis and Forecasts, By Country 10.1. Market Size (Value) Estimates & Forecast By Country, 2021-2029 10.1.1. US 10.1.2. Canada 10.1.3. Mexico 11. U.S. Industrial Batteries Market Analysis and Forecasts, 2021-2029 11.1. Market Size (Value) Estimates & Forecast By Type, 2021-2029 11.2. Market Size (Value) Estimates & Forecast By End-use, 2021-2029 12. Canada Industrial Batteries Market Analysis and Forecasts, 2021-2029 12.1. Market Size (Value) Estimates & Forecast By Type, 2021-2029 12.2. Market Size (Value) Estimates & Forecast By End-use, 2021-2029 13. Mexico Industrial Batteries Market Analysis and Forecasts, 2021-2029 13.1. Market Size (Value) Estimates & Forecast By Type, 2021-2029 13.2. Market Size (Value) Estimates & Forecast By End-use, 2021-2029 14. Europe Industrial Batteries Market Analysis and Forecasts, 2021-2029 14.1. Market Size (Value) Estimates & Forecast By Type, 2021-2029 14.2. Market Size (Value) Estimates & Forecast By End-use, 2021-2029 15. Europe Industrial Batteries Market Analysis and Forecasts, By Country 15.1. Market Size (Value) Estimates & Forecast By Country, 2021-2029 15.1.1. U.K 15.1.2. France 15.1.3. Germany 15.1.4. Italy 15.1.5. Spain 15.1.6. Sweden 15.1.7. CIS Countries 15.1.8. Rest of Europe 16. U.K. Industrial Batteries Market Analysis and Forecasts, 2021-2029 16.1. Market Size (Value) Estimates & Forecast By Type, 2021-2029 16.2. Market Size (Value) Estimates & Forecast By End-use, 2021-2029 17. France Industrial Batteries Market Analysis and Forecasts, 2021-2029 17.1. Market Size (Value) Estimates & Forecast By Type, 2021-2029 17.2. Market Size (Value) Estimates & Forecast By End-use, 2021-2029 18. Germany Industrial Batteries Market Analysis and Forecasts, 2021-2029 18.1. Market Size (Value) Estimates & Forecast By Type, 2021-2029 18.2. Market Size (Value) Estimates & Forecast By End-use, 2021-2029 19. Italy Industrial Batteries Market Analysis and Forecasts, 2021-2029 19.1. Market Size (Value) Estimates & Forecast By Type, 2021-2029 19.2. Market Size (Value) Estimates & Forecast By End-use, 2021-2029 20. Spain Industrial Batteries Market Analysis and Forecasts, 2021-2029 20.1. Market Size (Value) Estimates & Forecast By Type, 2021-2029 20.2. Market Size (Value) Estimates & Forecast By End-use, 2021-2029 21. Sweden Industrial Batteries Market Analysis and Forecasts, 2021-2029 21.1. Market Size (Value) Estimates & Forecast By Type, 2021-2029 21.2. Market Size (Value) Estimates & Forecast By End-use, 2021-2029 22. CIS Countries Industrial Batteries Market Analysis and Forecasts, 2021-2029 22.1. Market Size (Value) Estimates & Forecast By Type, 2021-2029 22.2. Market Size (Value) Estimates & Forecast By End-use, 2021-2029 23. Rest of Europe Industrial Batteries Market Analysis and Forecasts, 2021-2029 23.1. Market Size (Value) Estimates & Forecast By Type, 2021-2029 23.2. Market Size (Value) Estimates & Forecast By End-use, 2021-2029 24. Asia Pacific Industrial Batteries Market Analysis and Forecasts, 2021-2029 24.1. Market Size (Value) Estimates & Forecast By Type, 2021-2029 24.2. Market Size (Value) Estimates & Forecast By End-use, 2021-2029 25. Asia Pacific Industrial Batteries Market Analysis and Forecasts, by Country 25.1. Market Size (Value) Estimates & Forecast By Country, 2021-2029 25.1.1. China 25.1.2. India 25.1.3. Japan 25.1.4. South Korea 25.1.5. Australia 25.1.6. ASEAN 25.1.7. Rest of Asia Pacific 26. China Industrial Batteries Market Analysis and Forecasts, 2021-2029 26.1. Market Size (Value) Estimates & Forecast By Type, 2021-2029 26.2. Market Size (Value) Estimates & Forecast By End-use, 2021-2029 27. India Industrial Batteries Market Analysis and Forecasts, 2021-2029 27.1. Market Size (Value) Estimates & Forecast By Type, 2021-2029 27.2. Market Size (Value) Estimates & Forecast By End-use, 2021-2029 28. Japan Industrial Batteries Market Analysis and Forecasts, 2021-2029 28.1. Market Size (Value) Estimates & Forecast By Type, 2021-2029 28.2. Market Size (Value) Estimates & Forecast By End-use, 2021-2029 29. South Korea Industrial Batteries Market Analysis and Forecasts, 2021-2029 29.1. Market Size (Value) Estimates & Forecast By Type, 2021-2029 29.2. Market Size (Value) Estimates & Forecast By End-use, 2021-2029 30. Australia Fungicide Market Analysis and Forecasts, 2021-2029 30.1. Market Size (Value) Estimates & Forecast By Type, 2021-2029 30.2. Market Size (Value) Estimates & Forecast By End-use, 2021-2029 31. ASEAN Industrial Batteries Market Analysis and Forecasts, 2021-2029 31.1. Market Size (Value) Estimates & Forecast By Type, 2021-2029 31.2. Market Size (Value) Estimates & Forecast By End-use, 2021-2029 32. Rest of Asia Pacific Industrial Batteries Market Analysis and Forecasts, 2021-2029 32.1. Market Size (Value) Estimates & Forecast By Type, 2021-2029 32.2. Market Size (Value) Estimates & Forecast By End-use, 2021-2029 33. Middle East Africa Industrial Batteries Market Analysis and Forecasts, 2021-2029 33.1. Market Size (Value) Estimates & Forecast By Type, 2021-2029 33.2. Market Size (Value) Estimates & Forecast By End-use, 2021-2029 34. Middle East Africa Industrial Batteries Market Analysis and Forecasts, by Country 34.1. Market Size (Value) Estimates & Forecast by Country, 2021-2029 34.1.1. South Africa 34.1.2. GCC Countries 34.1.3. Egypt 34.1.4. Nigeria 34.1.5. Rest of ME&A 35. South Africa Industrial Batteries Market Analysis and Forecasts, 2021-2029 35.1. Market Size (Value) Estimates & Forecast By Type, 2021-2029 35.2. Market Size (Value) Estimates & Forecast By End-use, 2021-2029 36. GCC Countries Industrial Batteries Market Analysis and Forecasts, 2021-2029 36.1. Market Size (Value) Estimates & Forecast By Type, 2021-2029 36.2. Market Size (Value) Estimates & Forecast By End-use, 2021-2029 37. Egypt Industrial Batteries Market Analysis and Forecasts, 2021-2029 37.1. Market Size (Value) Estimates & Forecast By Type, 2021-2029 37.2. Market Size (Value) Estimates & Forecast By End-use, 2021-2029 38. Nigeria Industrial Batteries Market Analysis and Forecasts, 2021-2029 38.1. Market Size (Value) Estimates & Forecast By Type, 2021-2029 38.2. Market Size (Value) Estimates & Forecast By End-use, 2021-2029 39. Rest of ME&A Industrial Batteries Market Analysis and Forecasts, 2021-2029 39.1. Market Size (Value) Estimates & Forecast By Type, 2021-2029 39.2. Market Size (Value) Estimates & Forecast By End-use, 2021-2029 40. South America Industrial Batteries Market Analysis and Forecasts, 2021-2029 40.1. Market Size (Value) Estimates & Forecast By Type, 2021-2029 40.2. Market Size (Value) Estimates & Forecast By End-use, 2021-2029 41. South America Industrial Batteries Market Analysis and Forecasts, by Country 41.1. Market Size (Value) Estimates & Forecast by Country, 2021-2029 41.1.1. Brazil 41.1.2. Argentina 41.1.3. Rest of South America 42. Brazil Industrial Batteries Market Analysis and Forecasts, 2021-2029 42.1. Market Size (Value) Estimates & Forecast By Type, 2021-2029 42.2. Market Size (Value) Estimates & Forecast By End-use, 2021-2029 43. Argentina Industrial Batteries Market Analysis and Forecasts, 2021-2029 43.1. Market Size (Value) Estimates & Forecast By Type, 2021-2029 43.2. Market Size (Value) Estimates & Forecast By End-use, 2021-2029 44. Rest of South America Industrial Batteries Market Analysis and Forecasts, 2021-2029 44.1. Market Size (Value) Estimates & Forecast By Type, 2021-2029 44.2. Market Size (Value) Estimates & Forecast By End-use, 2021-2029 45. Competitive Landscape 45.1. Geographic Footprint of Major Players in the Global Industrial Batteries Market 45.2. Competition Matrix 45.2.1. Competitive Benchmarking of Key Players By Price, Presence, Market Share, End-use, and R&D Investment 45.2.2. New Product Launches and Product Enhancements 45.2.3. Market Consolidation 45.2.3.1. M&A by Regions, Investment, and Verticals 45.2.3.2. M&A, Forward Integration and Backward Integration 45.2.3.3. Partnership, Joint Ventures, and Strategic Alliances/ Sales Agreements 45.3. Company Profile: Key Players 45.3.1. Exide Industries 45.3.1.1. Company Overview 45.3.1.2. Financial Overview 45.3.1.3. Geographic Footprint 45.3.1.4. Product Portfolio 45.3.1.5. Business Strategy 45.3.1.6. Recent Developments 45.3.2. Enersys 45.3.3. Saft 45.3.4. GS Yuasa International Ltd. 45.3.5. NorthStar 45.3.6. C&D Technologies Inc. 45.3.7. Robert Bosch GmbH 45.3.8. East Penn Manufacturing Company 45.3.9. Toshiba International Corporation 45.3.10. Luminous India 45.3.11. Amara Raja Batteries Ltd. 45.3.12. HBL Power Systems Ltd. 45.3.13. Okaya Power Pvt. Ltd. 45.3.14. Exide Technologies 45.3.15. Base Batteries 45.3.16. Southern Batteries Pvt. Ltd. 45.3.17. Truepower Systems LLP 45.3.18. Johnson Controls 45.3.19. Panasonic Corporation 45.3.20. Others 46. Primary Key Insights

About This Report

Report ID 117220
Category Material & Chemical
Published Date Aug 2021
Updated Date Sep 2022
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