With the slowdown in world economic growth, the Industrial Batteries industry has also suffered a certain impact, but still maintained a relatively optimistic growth, the past four years, Industrial Batteries market size to maintain the average annual growth rate of XXX from XXX million $ in 2014 to XXX million $ in 2018, Stratagem Market Insights analysts believe that in the next few years, Industrial Batteries market size will be further expanded, we expect that by 2023, The market size of the Industrial Batteries will reach XXX million $.
Overview
Industrial batteries are batteries designed to withstand heavy use and more vibration as well as extreme temperatures. Industrial batteries are typically used in forklift, electric drill, vehicle, etc. An industrial battery may refer to high rate discharge, high capacity, deep cycle, high/low-temperature resistance, etc. The global industrial batteries market focuses on six regions namely North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. The global industrial batteries market is expected to witness significant growth during the forecast period, owing to government incentives for clean energy sources and the adoption of EV.
Market Driver
High requirement of lithium-ion batteries in various applications is expected to drive growth of the global industrial batteries market during the forecast period. Industrial batteries are used by buildings, commercial facilities, and factories. There are two major types of industrial batteries namely lead-acid batteries and lithium-ion batteries. Lithium ion batteries are used in vehicles, electric drills, and similar equipment. Since many industries are promoting green and clean energy initiatives, adoption of lithium-ion batteries has increased significantly. Thus, these factors are expected to drive growth of the global industrial batteries market during the forecast period. Moreover, rising demand for grid-connected solutions for uninterrupted power supply is expected to propel the global industrial batteries market growth over the forecast period.
Market Restraint
High capital investment and challenges related to safety are expected to hinder the global industrial batteries market growth over the forecast period.
Regional Insights
Among regions, Asia Pacific is expected to witness significant growth in the global industrial batteries market during the forecast period. This is owing to increasing adoption of batteries and rising government support renewable energy devices across the region. Furthermore, North America is expected to register a robust growth rate over the forecast period, owing to presence of major market players such as Exide Technologies and East Penn Manufacturing Company in the region.
Competitive Section
Key players operating in the global industrial batteries market are Robert Bosch GmbH, GS Yuasa Corporation, Exide Technologies Inc., Johnson Controls Inc., C&D Technologies, Inc., and Saft Groupe S.A.
Major companies are focused on product launches, in order to gain a competitive edge in the market. For instance, in December 2019, GS Yuasa Corporation launched LIM50EL Series of an industrial lithium-ion battery module.
This Report covers the manufacturers' data, including: shipment, price, revenue, gross profit, interview record, business distribution etc., these data help the consumer know about the competitors better. This report also covers all the regions and countries of the world, which shows a regional development status, including market size, volume and value, as well as price data.
Besides, the report also covers segment data, including: type segment, industry segment, channel segment etc. cover different segment market size, both volume and value. Also cover different industries clients information, which is very important for the manufacturers.
Section 1: Definition
Section (2 3): Manufacturer Detail
Johnson Controls
Exide Technologies
EnerSys
SAFT Groupe
GS Yuasa
Section 4: Region Segmentation
North America Country (United States, Canada)
South America
Asia Country (China, Japan, India, Korea)
Europe Country (Germany, UK, France, Italy)
Other Country (Middle East, Africa, GCC)
Section (5 6 7):
Product Type Segmentation
Lead-acid Batteries
Lithium-based Batteries
Nickel-based Batteries
Industry Segmentation
Telecom & Data Communication
Industrial Equipment
Uninterruptible Power Supply (UPS)/Backup
Grid-Level Energy Storage
Channel (Direct Sales, Distributor) Segmentation
Section 8: —Trend (2018-2023)
Section 9: Product Type Detail
Section 10: Downstream Consumer
Section 11: Cost Structure
Section 12: Conclusion
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