Global Industrial Batteries Market Forecast to 2030
The global industrial battery market size reached USD 17.0 Billion in 2021 and is expected to register a revenue CAGR of 9.0% during the forecast period, according to the latest analysis by Emergen Research. Increasing demand for lithium-ion batteries from the automotive industry is a major factor driving market revenue growth. Rising demand for industrial batteries to power homes, buildings, machinery, and equipment at construction sites is also a factor driving revenue growth in the market. For instance, South Australia is home to the largest lithium-ion battery installation and is powered by Tesla. It has a 100-megawatt capacity and powers 30,000 homes. It has also announced a 50% increase, which will raise its capacity to 150 MW.
The comprehensive and significant market research study on Industrial Batteries offers business strategies, qualitative and quantitative analyses, and emerging trends. The report provides an in-depth examination and analysis of the key elements of the global Industrial Batteries market. By conducting extensive primary and secondary research and analyzing the drivers, constraints, challenges, trends, and opportunities of the Industrial Batteries market, the research analysts created this report.
An emerging trend in large-scale battery storage is to deploy centralized batteries in a district to store the surplus energy generated by locally distributed generation plants, such as rooftop solar PV and others. These battery storage systems are connected to the distribution network and can be directly controlled by the distribution system operator. The stored electricity can be utilized later when demand exceeds supply in the specific district. Such a pilot project is being implemented in Walldorf, Germany, with a 100 kW battery system connected to 40 households.
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The section on the competitive landscape offers valuable and actionable insights related to the business sphere of the Industrial Batteries market, covering extensive profiling of the key market players. The report offers information about market share, product portfolio, pricing analysis, and strategic alliances such as mergers and acquisitions, joint ventures, collaborations, partnerships, product launches and brand promotions, among others. The report also discusses the initiatives taken by the key companies to combat the impact of the COVID-19 pandemic.
Key Companies Profiled in the Report are:
EnerSys, Exide Industries Ltd., LG Chem, C&D Technologies, Inc., SK Innovation Co., Ltd., GS Yuasa International Ltd., Robert Bosch GmbH, SAMSUNG SDI Co., LTD., Solid Power, Inc., Amara Raja Group, Rolls Battery, and Saft
Research Report on the Industrial Batteries Market Addresses the Following Key Questions:
Who are the dominant players of the Industrial Batteries market?
Which regional market is anticipated to have a high growth rate over the projected period?
What consumer trends and demands are expected to influence the operations of the market players in the Industrial Batteries market?
What are the key growth drivers and restraining factors of the Industrial Batteries market?
What are the expansion plans and strategic investment plans undertaken by the players to gain a robust footing in the market?
What is the overall impact of the COVID-19 pandemic on the Industrial Batteries market and its key segments?
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Some Key Highlights From the Report
The Nickel-Metal Hydride batteries segment is expected to register a steady growth rate due to content of fewer toxic metals as compared to other batteries such as Nickel Cadmium (Ni-Cad), and is currently labeled as environmentally friendly. This battery type has approximately 30% more capacity and periodic exercise cycles need to be done less often, is also easy to store and transport, and not subject to regulatory guidelines.
Automotive segment revenue is expected to register a rapid growth rate during the forecast period due to high demand for rechargeable batteries with greater power capacity for powering Electric Vehicles (EVs). Moreover, Automotive Original Equipment Manufacturers (OEMs) are increasing investment in developing more advanced technologies, including battery power capacity, production volume, and plant upgrade, among others, which is driving revenue growth of the segment.
The market in Asia Pacific accounted for largest revenue share in 2021 due to presence of major companies such as LG Chem, SAMSUNG SDI Co., LTD., and others. Increasing government initiatives to reduce environmental pollution and reduce dependency on and use of non-renewable energy resources are some key factors contributing to revenue growth of the market.
The report bifurcates the Industrial Batteries market on the basis of different product types, applications, end-user industries, and key regions of the world where the market has already established its presence. The report accurately offers insights into the supply-demand ratio and production and consumption volume of each segment.
Segments Covered in this report are:
Product Type Outlook (Revenue, USD Billion; 2019–2030)
Battery Type Outlook (Revenue, USD Billion; 2019–2030)
End-Use Outlook (Revenue, USD Billion; 2019–2030)
Telecom & Data Communication
Grid-Level Energy Storage
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Regional Landscape section of the Industrial Batteries report offers deeper insights into the regulatory framework, current and emerging market trends, production and consumption patterns, supply and demand dynamics, import/export, and presence of major players in each region.
The various regions analyzed in the report include:
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
How will this Report Benefit you?
A 250-page report from Emergen Research includes 194 tables and 189 charts and graphics. Anyone in need of commercial, in-depth assessments for the global Industrial Batteries market, as well as comprehensive market segment analysis, can benefit from our new study. You can assess the whole regional and global market for Industrial Batteries with the aid of our recent study. To increase market share, obtain financial analysis of the whole market and its various segments. We think there are significant prospects in this industry for rapidly expanding energy storage technology. Look at how you may utilise the current and potential revenue-generating prospects in this sector. The research will also assist you in making better strategic decisions, enabling you to build growth strategies, strengthen competitor analysis, and increase business productivity.
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